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Author Topic: 1 important Advantage of BTC over other assets and cash.  (Read 1477 times)
jubalix
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March 20, 2016, 09:00:35 AM
 #1

One thing about BTC say your country has a natural disaster, invasion, pandemic, bad political situation eg Zimbabwe, your assets are often worthless and hard to get out in any event. Eg good luck selling your property. Cash limits will be slapped on and your currency is likely to be devalued.

Now you could keep say some cash amounts in overseas bank accounts but the hassle, and overheads and it really requires a quite a bit of cash...and then you may not be sure of which country you can get to....

BTC however keeping just a bit that you basically realise anywhere to keep you in food and shelter to weather the worst of it or start agian......its quite a good proposition. 

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March 20, 2016, 09:13:01 AM
 #2

That is true and that's the beauty of bitcoin. Bitcoin gets investment from whole world and can't be devalued by a particular govt.

The fluctuation in price is on e of the characteristics of bitcoin and it is moved by a global force. Not dependent on a particular regulatory authority.

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bitkilo
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March 20, 2016, 09:18:06 AM
 #3

The current immagration issue is a prime example how people can use it to hold what cash they have.

Most of these people have to give up all valuables apart from wedding rings to the country that accepts them, I would rather sell my goods before leaving and convert that cash to BTC so I can access it anywhere I end up.

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March 20, 2016, 09:23:15 AM
 #4

People living in "safe" areas, do not see the big value in this. If you live in a war torn country or a third world country with a bad economy, you quickly realize how valuable this

advantage is. You can basically flee the area or the country and you have immediate access to your money, ANYWHERE in the world. The value is stored on the Blockchain, not

on a private ledger in a bank or a safe in your home. Just put yourself in the position of someone who lost EVERYTHING due to a disaster or a war or a financial collapse and you

will be faced with one of the biggest advantages of Bitcoin. Light bulb moment!

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March 20, 2016, 09:55:58 AM
 #5

One thing about BTC say your country has a natural disaster, invasion, pandemic, bad political situation eg Zimbabwe, your assets are often worthless and hard to get out in any event.
-snip-

I don't think bitcoin will be usable when we face some events like this, invasion, mass scale natural disaster or mass epidemic event would cause probably every bitcoin exchange to go on hold.
In times like these there is nothing more valuable that physical commodities and supplies. Fiat money along with BTC can go to hell. That is - unless you can cross border or find yourself in safe area of another country etc.
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March 20, 2016, 10:02:17 AM
 #6

One thing about BTC say your country has a natural disaster, invasion, pandemic, bad political situation eg Zimbabwe, your assets are often worthless and hard to get out in any event.
-snip-

I don't think bitcoin will be usable when we face some events like this, invasion, mass scale natural disaster or mass epidemic event would cause probably every bitcoin exchange to go on hold.
In times like these there is nothing more valuable that physical commodities and supplies. Fiat money along with BTC can go to hell. That is - unless you can cross border or find yourself in safe area of another country etc.

I agree with this also... maybe the most attractive asset to hold is gold, recognised world wide and worth a lot
Correct but try entering another country with your life saving in gold and see what they do.
In most cases you will loose at least 50% of it.

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March 20, 2016, 10:07:06 AM
 #7

One thing about BTC say your country has a natural disaster, invasion, pandemic, bad political situation eg Zimbabwe, your assets are often worthless and hard to get out in any event.
-snip-

I don't think bitcoin will be usable when we face some events like this, invasion, mass scale natural disaster or mass epidemic event would cause probably every bitcoin exchange to go on hold.
In times like these there is nothing more valuable that physical commodities and supplies. Fiat money along with BTC can go to hell. That is - unless you can cross border or find yourself in safe area of another country etc.

I agree with this also... maybe the most attractive asset to hold is gold, recognised world wide and worth a lot
Correct but try entering another country with your life saving in gold and see what they do.
In most cases you will loose at least 50% of it.

gold also it's not really easy to use directly, you can not go online and buy something with gold, so both have the property of being a store of value, but one has the the potential massive usage the other not

and bitcoin can be used anywhere online without losing the value, you only need to be careful when buying due to market fluctuation
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March 20, 2016, 10:10:29 AM
 #8

For now bitcoin is only good if face of mild economic crisis. Something not dramatic enough to force whole country to collapse.
I am talking about crisis economic & banking crisis in Cyprus some years ago, and more recently Greece (events where your bank assets were frozen, and money you could withdraw limited).
Other that than I think bitcoin is even worse due its elusive digital nature.
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March 20, 2016, 10:12:17 AM
 #9

One thing about BTC say your country has a natural disaster, invasion, pandemic, bad political situation eg Zimbabwe, your assets are often worthless and hard to get out in any event. Eg good luck selling your property. Cash limits will be slapped on and your currency is likely to be devalued.

Now you could keep say some cash amounts in overseas bank accounts but the hassle, and overheads and it really requires a quite a bit of cash...and then you may not be sure of which country you can get to....

BTC however keeping just a bit that you basically realise anywhere to keep you in food and shelter to weather the worst of it or start agian......its quite a good proposition. 

Thats' right. Absolutely. Maybe it's not so easy to exchange BTC on a local currency in small towns and villages, but I think every big town has someone who will want your BTC. So basically if you have Bitcoin you are covered almost anywhere in the world.

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March 20, 2016, 10:18:32 AM
 #10

One thing about BTC say your country has a natural disaster, invasion, pandemic, bad political situation eg Zimbabwe, your assets are often worthless and hard to get out in any event. Eg good luck selling your property. Cash limits will be slapped on and your currency is likely to be devalued.

Now you could keep say some cash amounts in overseas bank accounts but the hassle, and overheads and it really requires a quite a bit of cash...and then you may not be sure of which country you can get to....

BTC however keeping just a bit that you basically realise anywhere to keep you in food and shelter to weather the worst of it or start agian......its quite a good proposition. 

Thats' right. Absolutely. Maybe it's not so easy to exchange BTC on a local currency in small towns and villages, but I think every big town has someone who will want your BTC. So basically if you have Bitcoin you are covered almost anywhere in the world.


Like some large city has its own BTC atm where you can withdraw paper money via bitcoin. being able to trade your bitcoin even though your currency is not that important to other is the many factor why bitcoin should be in 3rd world country.
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March 20, 2016, 10:37:37 AM
 #11

If anyone has a location ready or would like to discuss operating a bitcoin atm then PM me and could work something out.

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March 20, 2016, 11:03:06 AM
 #12

I very much agree with these comments, i am surprised BTC has not got more attention considering the profound advantages

maybe because it's a young currency... and also such tech behind is also "disruptive" .... like internet... if you think at first "56 k " for connection or ISDN you can only smile respect the actual value of internet.



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March 20, 2016, 11:29:19 AM
 #13

It's money and a new type of money. People get real weird and conservative about it so it's no surprise that they're gonna be extremely skeptical.
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March 20, 2016, 12:06:51 PM
 #14

One thing about BTC say your country has a natural disaster, invasion, pandemic, bad political situation eg Zimbabwe, your assets are often worthless and hard to get out in any event. Eg good luck selling your property. Cash limits will be slapped on and your currency is likely to be devalued.

Now you could keep say some cash amounts in overseas bank accounts but the hassle, and overheads and it really requires a quite a bit of cash...and then you may not be sure of which country you can get to....

BTC however keeping just a bit that you basically realise anywhere to keep you in food and shelter to weather the worst of it or start agian......its quite a good proposition. 

Interesting idea but please understand, if the cases of big natural disaster there will be no water, food, electricity, no Internet Smiley
So, at first moment, your BTC funds will not help you much.
You will first need medical help, shelter, water and food.
Everything else comes later and probably you will have to wait a while or move to other area in order to find open bank and takes some money or to find some place where you can find Internet and access your BTC funds.
In fact, in such cases the best thing will be to keep all your documents and money in your pocket.
BTC you can't keep in the pocket, and without Internet and electricity, and ATM nearby, you can't cashout your Bitcoin funds.

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March 20, 2016, 12:16:28 PM
 #15

that might be, but not for somebody who is living in said country like Zimbabwe, any property people own are still property even if the value goes down. your house is still your house and a roof over your head.

on the other hand bitcoin is great and all in the sense that you can save your money as bitcoin and use it anywhere in the world without any restriction (or minimal restrictions in some countries) and i like it for this but at the same time bitcoin is not yet at a stable stage yet. it can go up and down at any moment.

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March 20, 2016, 12:49:39 PM
 #16

Without taking into consideration, Zimbabwe or any other country, the Biggest advantage of BTC is that is can be easily used
over the internet without disclosing ones identity.

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March 20, 2016, 12:55:20 PM
 #17

You have good points but the only problem BTCitcoin has is if someone needs to use it in terms of spending, they need an internet connection and there are still some countries and some areas in each countries that don't have any access (at all) and that limits the usage.

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March 20, 2016, 01:00:18 PM
 #18

lol to the OP where i live there's no place to buy food, water etc with btc now without even a disaster hitting. btc pretty much useless at the best of times, add a disaster to equation and btc would be more worthless then fiat, gold, etc

if a disaster ever gets bad enough to render fiat useless, well give me bags of rice, corn, wheat etc over any pseudo currency options.
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March 20, 2016, 01:36:29 PM
 #19

Since there is no way for third parties to identify, track or intercept transactions that are denominated in Bitcoins, one of the major advantages of Bitcoin is that sales taxes are not added onto any purchases.
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March 20, 2016, 03:18:21 PM
 #20

i highight 1 important advantage here.,
you can carry a billion dollars worth of bitcoins on a memory stick in your pocket. you can't do that with cash or even gold...
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