Why have Bitcoin instead of cash?

[magmar]

I recently paid for some local tacos using Bitcoin. My friend who was unfamilar with Bitcoin thought it was strange, like I technically didn't pay for them or something. We got into discussing Bitcoin and one of the questions he asked me was:
"Why would you want Bitcoins instead of cash?". For a second I didn't know what to say; then I thought about it and here is what I came up with. Feel free to contribute to this.

1) More security (especially if you are careful).

2) Bitcoins are a potential investment, cash is not. Paper currency only really goes down in value, Bitcoins have a lot of potential to be worth more as time goes on.

3) Fast, worldwide transactions at your fingertips.

4) Similar to #3, but it's a universal currency. It's legal in most countries of the world and you don't need any kind of currency conversion to send money to people in a different country than your own.

Very well said, these are all true that's why I'd rather had bitcoins than paper cash because its value rises as time goes by unlile paper cash. And I just want to add that bitcoins are also decentralized, that means it is not controlled by the bank that deduct a fees everytime. That's the worst moment when you invest in a bank or save in it. They always get at least 5% of it. But here in crypto currencies, they doesn't do that, and the good thing is the value of it might get doubled and that's a great investments.

[ladydark]

I would like to add the point that governments could not devalue your money by just simply announcing as it was made in india during demonitization by devaluing the high value currency notes.If indians have already known about bitcoins,they would not have suffered in india during demonitization. They would have just had their savings in bitcoins and would have had peaceful life.

[King Sastro]

I think and believe that bitcoin is the financial future of the world, one day all transactions will not use cash so many people invest in bitcoin. And now is the best time to start our investment.

[hajimasan]

I recently paid for some local tacos using Bitcoin. My friend who was unfamilar with Bitcoin thought it was strange, like I technically didn't pay for them or something. We got into discussing Bitcoin and one of the questions he asked me was:
"Why would you want Bitcoins instead of cash?". For a second I didn't know what to say; then I thought about it and here is what I came up with. Feel free to contribute to this.

1) More security (especially if you are careful).

2) Bitcoins are a potential investment, cash is not. Paper currency only really goes down in value, Bitcoins have a lot of potential to be worth more as time goes on.

3) Fast, worldwide transactions at your fingertips.

4) Similar to #3, but it's a universal currency. It's legal in most countries of the world and you don't need any kind of currency conversion to send money to people in a different country than your own.

Totally true , and also you can add some more options here .
Currently the Bitcoin is what , everyone knows about it .
The big economic country accepted the Bitcoin as a legal.way of payment , and after the accepted Bitcoin as a currency , there are many shops who start to accept Bitcoin as a payment and also many big shops are also accepting Bitcoin and in hotels , bars , airlines at every place they are accepting Bitcoin .
So it is now like the cash , and also a better medium to make money where you can do everything with your own money that you want at international level to local level .
So why not to accept Bitcoin instead of cash , since cash is better at its own place but Bitcoin is more important thing for us now .

[Ziskinberg]

I think and believe that bitcoin is the financial future of the world, one day all transactions will not use cash so many people invest in bitcoin. And now is the best time to start our investment.

What would they use then to invest? cash is still important because bitcoin cannot survive without people trusting their cash to acquire bitcoins.
If you fully understand what is bitcoin and cash you can easily differentiate them and it will not gonna come out to your mind that cash someday will disappear and bitcoin will rule the financial world.

[Fatanut]

I would like to add the point that governments could not devalue your money by just simply announcing as it was made in india during demonitization by devaluing the high value currency notes.If indians have already known about bitcoins,they would not have suffered in india during demonitization. They would have just had their savings in bitcoins and would have had peaceful life.

I doubt that. Simply because the Indians surely know about dollars and they could have converted their money to dollars through Paypal, yet most of them didn't do it. Bitcoin could have been a safe haven for them but so is any other active currencies. Others would be so skeptical about bitcoin just like any other newbies. Indian people didn't see it coming for sure because if they did, they should have avoided this.

It will still be the same zero sum game. You bought bitcoins from other Indian people, they get your Indian fiat (I don't know what it's called). The currency stopped having value, so the guy that sold you bitcoins would have that worthless paper. You saved yourself, but in exchange, the other would have to suffer; be it an exchanger or a person.

[ASHLIUSZ]

I think and believe that bitcoin is the financial future of the world, one day all transactions will not use cash so many people invest in bitcoin. And now is the best time to start our investment.

What would they use then to invest? cash is still important because bitcoin cannot survive without people trusting their cash to acquire bitcoins.
If you fully understand what is bitcoin and cash you can easily differentiate them and it will not gonna come out to your mind that cash someday will disappear and bitcoin will rule the financial world.

Agreed, people have a misunderstanding and those statements were out of excitement. Cash is important forever, as well however technology make changes to the system people prefer cash than bitcoin. Bitcoin will always serve as an alternate to the cash, to go mainstream it needs to travel long years.

[jc89]

Don't get me wrong but I would want to have cash on my pocket. It'snl what I use to buy my share of investment in bitcoin. But to answer the query here are some of the advantages of bitcoin over cash. First, its easy to carry and to transact with. It's indestructible since it is not in a physical state unlike cash that can be easily torn into pieces which then will be worthless. Another thing is that bitcoin's value is way much higher and its inflation rate is too high. That is if we are to talk about 5years after bitcoin was made because right now bitcoin is really having a hard time right now. It's deflating rapidly but I guess we just need to wait and be patient for it to bounce back. And voing back to yhe topic, most of all, bitcoin is decentralized.

[Silberman]

I think and believe that bitcoin is the financial future of the world, one day all transactions will not use cash so many people invest in bitcoin. And now is the best time to start our investment.

What would they use then to invest? cash is still important because bitcoin cannot survive without people trusting their cash to acquire bitcoins.
If you fully understand what is bitcoin and cash you can easily differentiate them and it will not gonna come out to your mind that cash someday will disappear and bitcoin will rule the financial world.

Cash is not going to disappear anytime soon, politicians are trying to do their best to make cash disappear and in some countries that are very rich they have been more or less successful in their fight against cash, but in many other countries that process is not going so well and it is understandable since those countries are poorer and people need to use cash to pay for their services.

[Bowly88]

Besides, Bitcoin is an invisible gold and do not be restricted by the customs.

Yes that's true, it is an invisible gold. A digital currency that the future will use. It is also decentralized which means no banks can ever handle it. No taxes and everything that will affect our savings our money.

[yellow1]

Because bitcoin is a cryptocurrency and it is private, no one controls it and no banks. Bitcoin instead of cash because it is a good investment and for trading. Bitcoin is safe than of cash, use a bitcoin than of cash you don't need to worry about your money, it can hide your wealth and you can store your bitcoin. Many advantages and benefits gives of bitcoin to the people and to the investors. Bitcoin is easy in payments and transaction you don't need to go outside. Bitcoin is better than cash, especially in investment and savings.

[KingdomHearts]

Besides, Bitcoin is an invisible gold and do not be restricted by the customs.

Yes that's true, it is an invisible gold. A digital currency that the future will use. It is also decentralized which means no banks can ever handle it. No taxes and everything that will affect our savings our money.

Absolutely right! These are the perks that bitcoin users are enjoying. The most amazing features are decentralized nature of bitcoins, anonymity and absolutely no transaction taxes are also on the list. All these attributes are making them the king of crypto kingdom. That day is not far away when the whole world would be dealing in bitcoins.

[choppork]

Besides, Bitcoin is an invisible gold and do not be restricted by the customs.

Yes that's true, it is an invisible gold. A digital currency that the future will use. It is also decentralized which means no banks can ever handle it. No taxes and everything that will affect our savings our money.

Absolutely right! These are the perks that bitcoin users are enjoying. The most amazing features are decentralized nature of bitcoins, anonymity and absolutely no transaction taxes are also on the list. All these attributes are making them the king of crypto kingdom. That day is not far away when the whole world would be dealing in bitcoins.

Only a small amount of bitcoin users are experiencing that privilege. Like me, I can't do that much transactions with bitcoins. The only things that I can buy are digital goods like a premium account on Spotify, and then second hand gadgets. Other than that? Nothing else. I don't need a premium account on Spotify, I just have to buy once and then that's it. Same with a cellphone and laptop. After that, all my transactions for bitcoin are a conversion of bitcoin to fiat because I have no other choice.

We need to cash out our bitcoins to cash to buy something and everytime we buy something, there's a tax. In the end, our precious bitcoins ended up having taxed by the government.

[Silberman]

Besides, Bitcoin is an invisible gold and do not be restricted by the customs.

Yes that's true, it is an invisible gold. A digital currency that the future will use. It is also decentralized which means no banks can ever handle it. No taxes and everything that will affect our savings our money.

Invisible gold, what a nice way to put it, while gold is great it is very cumbersome, and you cannot carry a lot of gold with you because that immediately raises a lot of red flags no matter where you live,  but with bitcoin you can just carry an USB and you could be carrying a fortune on bitcoin and no one will know unless you tell them you are, which no one will do of course.

[crazycatwoman03]

bitcoin is too safer and secure and its transaction is very faster and bitcoin transaction fees is very lower.

The bitcoin block size is small, the transaction traffic is congested. So it will not be used widely by the ordinary people in the future as the fee is too high.

That is my concern as well. I am afraid that the bitcoin will be replaced by other popular fast digital coins in the future.

Right, we do not know what will really happen in the future. Generally speaking, crypto currencies and not just bitcoin, are getting more and more popular these days. We are not sure if bitcoin will be the number 1 crypto currency in the future. There are many crypto currencies that exists and it just happen that bitcoin is more popular than the others. We can not guarantee that, the modern technology advances as the time goes by and we do not know if someday a new crypto that is better than bitcoin will exist. But I am sure that the replacement will not be that easy, there are many bitcoin users now and if ever a new crypto appears, I am sure that it will not easily beat bitcoin.

Compared to cash, bitcoin are more convenient to use for online transactions and also that its volatility had made many people to earn and gain profit at higher prices. Cash can't do that, this is why, many people including me would prefer to have and invest in bitcoin.

[Pattart]

It better to have both. Remember all we that not everywhere still is accepted bitcoin or adopted. So for the time being cash is good to have. My investment is more less 50-50 in percentage. But for future saving or investing or even safe keeping bitcoin is better solution it can easily go up in price as well it can go down. But still is better option for me and believe for most of us here.

Yeah it's good if you use both of them, besides you can not just use one just like depend on bitcoin, while bitcoin is still not accepted anywhere, and you can use cash for this. If you use both you also have investment options for the future, of course

[Kodok Bencot]

Bitcoin has advantages over cash, if cash will make us limited while with bitcoin then we can do more things such as investment, online transactions and bill payments.

[Beparanf]

Bitcoin has advantages over cash, if cash will make us limited while with bitcoin then we can do more things such as investment, online transactions and bill payments.

If we were into those services bitcoin is really a good way to conveniently do those things,and if we were into savings too bitcoin assioated wallets can help us store our btc in a safest way possible with chances of making it grew in time.

[leirou]

Easy to transfer anytime and anywhere with 24/7 availability transaction time.

[n691309]

Easy to transfer anytime and anywhere with 24/7 availability transaction time.

I too prefer to have bitcoin instead of cash, because bitcoin is always touched in market with business through technology and can earn money, but a cash don’t so this. Bitcoin is a business not simply a currency. Through bitcoin you can earn easily without any hard work because bitcoin is an automatic investment.