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Adbitco
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July 19, 2017, 09:40:40 AM |
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Why some people prefer bitcoin over fiat? Putting it like that means op looking for our views or answer to the question he puts as the title of his post but taking a look at the entire post it seems like he's showing his concern over the misuse of bitcoin.
Ok so first why most people prefer bitcoin over fiat is maybe because bitcoin is and has been a good investment and no other business may have brought you as much returns as bitcoin has especially in the recent past. Bitcoin is a good store of value. Bitcoin can also be used as a currency not much popular though but there are certain goods and services you can buy easily with bitcoin. There might be some people who may have preferred bitcoin over fiat because they wanted to hide their black money from the government so these are a few reasons which came to my mind at the moment, there might be many more.
Now talking about the misuse of bitcoin it's already been said many times before that it's the same with bitcoin too as it is with fiat, both can and have been used and misused so the people who you saw using bitcoin for porn, gambling etc must have been doing the same with fiat before bitcoin was introduced to them it's something you can't control or as someone here in this thread rightly said you can't dictate people when it comes to using their money.
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Lampaster
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July 19, 2017, 09:48:21 AM |
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Bitcoin gives everyone the possibility that can not give Fiat money. Nobody argues with the fact that terrorists can use bitcoin for their purposes due to its anonymity, but this is not the fault of bitcoin. The reason is people. Even paid attacks cannot be realized without the help support people. Terrorism exists in any financial system.
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Meraki
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July 19, 2017, 10:07:10 AM |
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I think why someone prefer bitcoin than fiat is because of its price. Bitcoin's price is still has a lot of potential in it. Even though sometimes the price of bitcoin dump it will eventually pumped up. If you invest / or currently holding a bitcoin just hold in it and the price will go so high.
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kafiddrhman
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July 19, 2017, 10:46:45 AM |
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It is possible that this August bitcoin prices will increase dramatically, even today bitcoin prices continue to increase after a few days yesterday bitcoin prices had declined. Sure it would be better if investing bitcoin from now on. And i think very ratio if most people prefer bitcoin rather than fiat of course because the function of bitcoin is very beneficial for all users.
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ladydark
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July 19, 2017, 11:17:26 AM |
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It was in earlier stages when bitcoin usage was mainly dependent on the dark markets where bitcoin was mainly used for buying illegal items.But things have changed now and bitcoin has investor base all over the world and it is used for all purposes.Nowadays,bitcoin is used as an investment rather than as a currency.
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maxNIMFA
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July 19, 2017, 11:19:14 AM |
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$1 can't become $5 in a year.
$2360 bitcoin CAN become $15000 in a year. Who knows.
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Tipsters
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July 19, 2017, 11:24:08 AM |
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I think why people choose bitcoin over fiat because bitcoin still has a huge potential in the future meanwhile fiat doesn't have much. Fiat price is based on ones country and the price is usually stable. On the other hand bitcoin is not stable yet its price is increasing thats why some people investing in bitcoin so that they can double their asset in the future.
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tiggycomb
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July 19, 2017, 05:21:55 PM |
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There are certain sections of business which have benefit in adopting bitcoin quickly, far more than other businesses for example, porn, certain illegal businesses etc... particularly because these business value both privacy and no need for ID's and the like.
Even excluding illegal businesses, no one likes having a porn or gambling payment in their CC history, and the risk of disputes in these businesses is very high.
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OrangeII
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July 19, 2017, 05:28:46 PM |
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I guess it happens because some of the needs of bitcoin users, have been fulfilled due to bitcoin. So, they are more focused on finding bitcoin than fiat, well, for now, I am also like that, so I understand that choice very much.
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Lizzie_Girl
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July 19, 2017, 05:49:18 PM |
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I guess it happens because some of the needs of bitcoin users, have been fulfilled due to bitcoin. So, they are more focused on finding bitcoin than fiat, well, for now, I am also like that, so I understand that choice very much.
It's worth more and goes further. Faster payments no need for a bank. Even a child can pay for his games online now with bitcoins. This helps the economy grow. Not to mention it's a great investment. |
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coinenthu
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July 19, 2017, 08:51:35 PM |
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Because it comes from a trustless and independent system
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doomloop
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July 20, 2017, 01:48:53 PM |
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Bitcoin is being used widely in porn sites, gambling and drug dealing sectors. Is that why the btc made for ? I have seen a lot of members in this forum discussing about buying drugs, gambling and enjoying porn with bitcoin. Is not it a misuse of a currency ? Block chain tech is a awesome tech and btc is getting popular. I hate these misuses of precious btc. It hurts me. This will lead into unhealthy society along with unhealthy future generation.
If that so this will end up dangerously to the people who only used bitcoin for their bad habits but not to those who are making bitcoin valuable. I think selling or buying bitcoin is not that easy because they need to know your full details, your identity, your ID's or your cards thats how they strict they are when about to bitcoin. So, how that it ended up like that? I think the bitcoin is never going to end as see can see how popular the bitcoin i . now the price of the bitcoin is a bit dropped down but if we look at the other side of the bitcoin it is invented as a facility for the people and just to make our life relaxed but if some bad people use it as a bad way then it does not mean the bitcoin currency is bad we can wait till the august first. |
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wxa7115
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July 20, 2017, 06:51:01 PM |
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People prefer to use bitcoin over fiat to take advantage of the investment opportunity it offers
and it helps keep transactions private and also have easy access to many services like VPNs, gambling sites
and other sites without going through know your customer checks
Bitcoin has outpaced almost any other market and investment, with the only exception of altcoins, so it is not really difficult to understand why people choose bitcoin over fiat, fiat only losses value as you hold it while bitcoin gains it, so it is easy to guess which one we prefer. |
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danherbias07
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July 20, 2017, 07:12:55 PM |
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Fiat is fiat which is usable now to buy something, actually the first thing that everyone wants.
Bitcoin is way different with that now. It became a commodity for most and a reliable investment which is not really its purpose.
But someday it will change. It might even get into reverse where bitcoin will be the most used when it comes to currencies.
It is the online world now and it will come in handy once everybody sees it as most convemient.
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ubitcoin
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July 20, 2017, 09:16:06 PM |
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I think why someone prefer bitcoin than fiat is because of its price. Bitcoin's price is still has a lot of potential in it. Even though sometimes the price of bitcoin dump it will eventually pumped up. If you invest / or currently holding a bitcoin just hold in it and the price will go so high.
Yes bitcoin price is having much ability in these days. Trust me it would be higher than now. As the developers working in a bitcoin. Bitcoin is looking to create an ATM cards. To make the withdrawal easier than everything. So yes we can say that bitcoin is better than fiat in every part. It has still potential in it. |
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bettercrypto
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July 20, 2017, 09:18:31 PM |
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I believe one of the reason why some people prefer bitcoin over fiat is the feature of store of value of Bitcoin. Having Bitcoin instead of cash enable us to have or gain more value though the downside is the opposite but since the market is not yet saturated and the incoming update seems bullish, there is more chance for Bitcoin holder to earn or gain value overtime.
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NoNetwork
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July 21, 2017, 12:23:22 AM |
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The only thing I can think of why people prefer Bitcoin than fiat was, maybe in their country they are already accepting Bitcoin as payment. I mean, you don't have to exchange Bitcoin to fiat anymore because there are already ways to have transaction to either an item or a service. Because they are directly having paid in Bitcoin not in fiat.
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JL421
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July 21, 2017, 12:15:38 PM |
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Even i prefer bitcoin over fiat as i can earn money just by saving it if i plan to buy a 100$ vault fully secure, indestructible and put all my cash in what will i even get from it on the other hand if i would bought bitcoin and saved it an hardware wallet and put in the vault i got easily make thousands over the years. It is mostly the return that you get from bitcoin make people prefer bitcoin over fiat
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SacriFries11
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July 21, 2017, 01:43:51 PM |
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Bitcoin is being used widely in porn sites, gambling and drug dealing sectors. Is that why the btc made for ? I have seen a lot of members in this forum discussing about buying drugs, gambling and enjoying porn with bitcoin. Is not it a misuse of a currency ? Block chain tech is a awesome tech and btc is getting popular. I hate these misuses of precious btc. It hurts me. This will lead into unhealthy society along with unhealthy future generation.
I think bitcoin is not intended to use for bad purpose it's purpose are for good things. But we should accept the facts that there are people that misuse it. For buying drugs, gambling and use to browse porn sites and just like bitcoin we can't stop this because they can hide their identity. That why some countries have ban bitcoin because they see that bitcoin is a threat to their people. Still bitcoin and other things have thier own positive and negative it's up to us whether we use it for good or bad. |
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naidray
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July 21, 2017, 06:20:49 PM
Last edit: July 22, 2017, 04:05:57 PM by naidray |
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Bitcoin is being used widely in porn sites, gambling and drug dealing sectors. Is that why the btc made for ? I have seen a lot of members in this forum discussing about buying drugs, gambling and enjoying porn with bitcoin. Is not it a misuse of a currency ? Block chain tech is a awesome tech and btc is getting popular. I hate these misuses of precious btc. It hurts me. This will lead into unhealthy society along with unhealthy future generation.
Yes it's true as what I've red in the deep web where I discovered the bitcoins is yes bitcoins are used in buying drugs, porns and gambling which is why I get curious about this. But when I knew that I can get an additional income to this bitcoin and it is also a great investments, I used this for my own good not for buying drugs and other stuffs. And I think they misused the potential of bitcoins. Accepting that some people are using bitcoin for bad purposes like buying drugs, gambling and for entertaining with porn, but I thing using of a currency for bad purposes is not the fault of a currency. These criminals are responsible for these bad activities, so we may not blame bitcoin against their bad activities. If want to use bitcoin for good purposes so we can. I agree with the statement that it is an additional source of income and good investment for future. |
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