Bitcoin versus other offline currencies

[radjie]

Bitcoin value are rapidly increasing, so I never doubted if one day bitcoin surpass other offline currency in the world. I was completely believe that bitcoin is the future currency of the world. I'm looking forward to the value of bitcoin in the crypto industry this coming 2018. Most of the users are correct to their speculation because this coin now are totally reach $10,000. Obviously that offline money or paper currency are no longer increase their value in the market whatever happened.

It's very hard to say that bitcoin value is rapidly increasing.

It something that happened, it doesn't mean that it is going to always happen, I don't think that the fact that bitcoin's price is very volatility is a good thing, I think exactly the opposite.
It is hard to have bitcoin as a store of value because the price tends to go up and down very often.
When people search for a store of value they search for a safe asset, and bitcoin is not a safe asset at all.

As speculative currency the volatility is very good and worth a lot since we have never seen BTC falling on long term, what means the volatility is always pushing BTC up (and a lot!). But as you said, we can't predict it will always happen... It's the nature of Bitcoin, and even with so many apparent risks, it's still very worthful and profitable. I see Crypto-Currency as a new kind of investment like we never had before, very original and volatility is a part of it.

Bitcoin isn't so safe like traditional investments people make with fiat (I don't even think these investments are profitable), but it gives much more return. So you must think about about the possibilities: A profitable "risky" investment or a safe unprofitable one? I prefer the first alternative...

I agree with you. Though bitcoin is very profitable as a currency or commodity, risks are endless and as prices continuously increase, risks definitely higher too. Especially in investments started at high prices. The volality can never be accurately predicted or expected in reality.

This is always been the risk if you do decide to invest into bitcoin which volatility would really be the main enemy on here since we wont really know on where would prices would go either in a matter of minutes or hours or days.No one really knows this is why this crypto market is really unpredictable. Offline currencies is being used in the beginning of time which its being backed by the government which we can somehow say that it is stabilized and strong. Bitcoin is a different thing.

Offline currency now is much useful for now compared to bitcoin, because as you see bitcoin amount now is not totally used as currencies in different countries. Maybe it was used in some are but not all allowed bitcoin, also offline currency is the most useful amount of an ordinary people maybe they were already trained well using offline cash compared to bitcoin.

At present people were much used to the offline currency. This is all because of the increased usage and the ease of accessing unlike the bitcoin as well other digital currencies. For using bitcoin people need to get used to it, which takes long term and so it gets more importance as an investment as well on similar needs rather than getting used as currency.

bitcoin is very feasible if used as a form of investment assets because the value and price movements are always changing quickly that can generate profits for anyone who invests in it, when compared with other types of investment forms bitcoin obviously much more promising. but the ease of transactions that have been done by the general public better use the real currency that we use because the role of bitcoin is not a currency that can be used by all levels of society in the world.

[richardsNY]

but the ease of transactions that have been done by the general public better use the real currency that we use because the role of bitcoin is not a currency that can be used by all levels of society in the world.

That will change once lightning network does its work. Currently the higher fees and slow confirmation times are the main bother for people, and after that comes the volatility. If we look at lightning network, it will take care of the higher fees and confirmation times. Another aspect is that it is capable of processing much more transactions per second, which is also a limiting factor right now, but not directly noticed or looked at. People (especially those who value micro transactions) will get their shot, which will make the chances of adoption by people in third world countries much higher than they ever were. I don't know when lightning network will be fully operational, but it's definitely something to look forward to since this will push Bitcoin to the next level.

[prettypearl]

maybe right now offline currencies is better than digital currencies specially bitcoin, because right now bitocin is not popular than we know, not all of people in a country know about bitcoin and use it, so if we want to make transaction with bitcoin it will be harder than offline curencies

Point noted.
Thanks for your contribution

[prettypearl]

As a NEWBIE, how would you explain bitcoin as against other offline currencies?
Which one has more market value and why do you think so ?

I think there are many reasons that could make you believe that investing in bitcoin is better than other offline currencies. One of them is huge market value with huge scope of profit investing into bitcoins. Every other offline currency has a certain ROI out of which maximum could be provided by investing in gold . But at this point of time Bitcoin is leading every currency available including gold.

Point noted.
Thanks for your contribution.

[prettypearl]

As a NEWBIE, how would you explain bitcoin as against other offline currencies?
Which one has more market value and why do you think so ?

There are no coins that can compete with Bitcoin in any matter. The whole market of other cryptocurrencies is totally dependent on Bitcoin and its price. Their rise and fall, their adoption and all, it starts and finishes with Bitcoin. So obviously bitcoin will have and has the highest market value and it will always be the same. I don't think there will be a coin which can stand still against Bitcoin, unless Bitcoin surprisingly disappears and some other coin takes its place.

Point noted.
Thanks for your contribution.

[Dheo]

Bitcoin value are rapidly increasing, so I never doubted if one day bitcoin surpass other offline currency in the world. I was completely believe that bitcoin is the future currency of the world. I'm looking forward to the value of bitcoin in the crypto industry this coming 2018. Most of the users are correct to their speculation because this coin now are totally reach $10,000. Obviously that offline money or paper currency are no longer increase their value in the market whatever happened.

It's very hard to say that bitcoin value is rapidly increasing.

It something that happened, it doesn't mean that it is going to always happen, I don't think that the fact that bitcoin's price is very volatility is a good thing, I think exactly the opposite.
It is hard to have bitcoin as a store of value because the price tends to go up and down very often.
When people search for a store of value they search for a safe asset, and bitcoin is not a safe asset at all.

As speculative currency the volatility is very good and worth a lot since we have never seen BTC falling on long term, what means the volatility is always pushing BTC up (and a lot!). But as you said, we can't predict it will always happen... It's the nature of Bitcoin, and even with so many apparent risks, it's still very worthful and profitable. I see Crypto-Currency as a new kind of investment like we never had before, very original and volatility is a part of it.

Bitcoin isn't so safe like traditional investments people make with fiat (I don't even think these investments are profitable), but it gives much more return. So you must think about about the possibilities: A profitable "risky" investment or a safe unprofitable one? I prefer the first alternative...

I agree with you. Though bitcoin is very profitable as a currency or commodity, risks are endless and as prices continuously increase, risks definitely higher too. Especially in investments started at high prices. The volality can never be accurately predicted or expected in reality.

The bigger the more higher risk, its normal that's why you need to invest your money that you are willing to lose. We all don't want to lose our money, but this is investment and we need to face the fact how risky it is.

[justdimin]

Bitcoin value are rapidly increasing, so I never doubted if one day bitcoin surpass other offline currency in the world. I was completely believe that bitcoin is the future currency of the world. I'm looking forward to the value of bitcoin in the crypto industry this coming 2018. Most of the users are correct to their speculation because this coin now are totally reach $10,000. Obviously that offline money or paper currency are no longer increase their value in the market whatever happened.

At this stage, the rate of adoption is still very low and then I imagine when the time we have been waiting for when we will end up having some huge amount of FOMOs rushing in comes. Bitcoin has reached a huge ATH just in this year alone and I am not sure anything can bring it down further than it already is except for just some few corrections.

As time goes on and as bitcoin becomes even more usable for daily spending, offline currencies are going to be ignored by bitcoin enthusiasts, and as things get better, other enthusiasts will keep rolling in to be a part of the crypto world.

[whyrqa]

Bitcoin value are rapidly increasing, so I never doubted if one day bitcoin surpass other offline currency in the world. I was completely believe that bitcoin is the future currency of the world. I'm looking forward to the value of bitcoin in the crypto industry this coming 2018. Most of the users are correct to their speculation because this coin now are totally reach $10,000. Obviously that offline money or paper currency are no longer increase their value in the market whatever happened.

At this stage, the rate of adoption is still very low and then I imagine when the time we have been waiting for when we will end up having some huge amount of FOMOs rushing in comes. Bitcoin has reached a huge ATH just in this year alone and I am not sure anything can bring it down further than it already is except for just some few corrections.

As time goes on and as bitcoin becomes even more usable for daily spending, offline currencies are going to be ignored by bitcoin enthusiasts, and as things get better, other enthusiasts will keep rolling in to be a part of the crypto world.

I think that Bitcoin will still be in the lead among the crypto-currencies and maybe others need to be equal only by Bitcoin, and not try to do something more. I think that it is almost impossible, because we are going today. What are the maximum records of the price beat Bitcoin.

[IAMYOURLEADER]

As a NEWBIE, how would you explain bitcoin as against other offline currencies?
Which one has more market value and why do you think so ?

Bitcoin is not controlled by the government which means that they cannot manipulate on their own selves the financial market which they can on fiat and bitcoin will have more market value in the future which is going to $1M possibly.

[Kevondo]

but the ease of transactions that have been done by the general public better use the real currency that we use because the role of bitcoin is not a currency that can be used by all levels of society in the world.

That will change once lightning network does its work. Currently the higher fees and slow confirmation times are the main bother for people, and after that comes the volatility. If we look at lightning network, it will take care of the higher fees and confirmation times. Another aspect is that it is capable of processing much more transactions per second, which is also a limiting factor right now, but not directly noticed or looked at. People (especially those who value micro transactions) will get their shot, which will make the chances of adoption by people in third world countries much higher than they ever were. I don't know when lightning network will be fully operational, but it's definitely something to look forward to since this will push Bitcoin to the next level.

The thing is everything which is there in this world has its own pros and cons. There is nothing perfect in this world. Bitcoin does have some drawback like that of slow transaction process and high transaction fee but as compared to that of other currencies, it is really very profitable to have bitcoin in our wallet. Reason being it can help us in having more money in return unlike many other currencies. Moreover, it is having a very bright future.

[cryptopat]

As a NEWBIE, how would you explain bitcoin as against other offline currencies?
Which one has more market value and why do you think so ?

Hi and welcome to bitcointalk forum!

By other "offline currencies", I guess that you mean to gold and cash, let me explain why bitcoin is better then them.

Cash- Huge inflation, which means that if you hold cash as a store of value, at the long run you will lose value!, can be only transferred by a face to face meeting(someone need to physically deliver the cash to you).

Gold-Hard to store( takes a lot of space and may require to have a security behind), and also hard to transfer

Bitcoin- Fixed inflation, which means that you won't lose value at the long run, and also very easy to transfer,you don't need to actually meet someone in order to transfer bitcoins and you can do it from home.
Also it's value goes up at the long run.

As the value of bitcoin is surging high, if it Para venture drops in value in terms of price, will it still be able to surge high or even higher than its initial price?

[MMA]

Bitcoin value are rapidly increasing, so I never doubted if one day bitcoin surpass other offline currency in the world. I was completely believe that bitcoin is the future currency of the world. I'm looking forward to the value of bitcoin in the crypto industry this coming 2018. Most of the users are correct to their speculation because this coin now are totally reach $10,000. Obviously that offline money or paper currency are no longer increase their value in the market whatever happened.

At this stage, the rate of adoption is still very low and then I imagine when the time we have been waiting for when we will end up having some huge amount of FOMOs rushing in comes. Bitcoin has reached a huge ATH just in this year alone and I am not sure anything can bring it down further than it already is except for just some few corrections.

As time goes on and as bitcoin becomes even more usable for daily spending, offline currencies are going to be ignored by bitcoin enthusiasts, and as things get better, other enthusiasts will keep rolling in to be a part of the crypto world.

Yes that is right that with the increasing interest of the people in online currency the use of offline currency will be decreasing. But still i think it will take a lot of time because currently a very limited number of people have the opportunity to use bitcoin for shopping. I think still majority of people do not have the awareness about bitcoin but now we can see that because of the increasing introduction of bitcoin in different place people are now taking more interest in bitcoin and they are now trying to use bitcoin for shopping and so many other purpose.

[kikoy999]

I think that all bitcoins will lose all crypto currency one by one because bitcoin only has the highest rate and value in all the coins.

[malikusama]

As a NEWBIE, how would you explain bitcoin as against other offline currencies?
Which one has more market value and why do you think so ?

Are you talking about fiat vs bitcoin right?
Both have pros and cons and both have importance in their own place. I believe bitcoin and cryptos have more advantages than fiat because of the following reasons.
1. Bitcoin and majority cryptos are decentralized, not a single authority or governing body can control it like fiat.
2. Bitcoin and cryptos are more secure.
3. Bitcoin and cryptos are more convenient in use.
4. We can get rid of bank's monopoly.
5. More trading opportunities in Cryptos than fiat.

[kdrama]

As a NEWBIE, how would you explain bitcoin as against other offline currencies?
Which one has more market value and why do you think so ?

what offline currencies are you asking? is it the real and physical money that we are using right now? if it is, bitcoin is the digital money and physical money is the money or currency that we used in everyday life.

[Md.Esamul Haque]

Bitcoin has a huge request and supply in advertise than all disconnected monetary standards, the present estimation of bitcoin depicts its significance itself.

It's momentary exchange highlight pulls in, even propels vast associations to acknowledge bitcoin as an essential strategy.

Almost in five years, utilization of fiat cash would be unimportant without a doubt.

[pweetypearl2017]

Bitcoin is a crypto currency which lives in the cyberworld and decentralized was occurred. Bitcoin has a lots of privileges , like transaction fees which is easy and fast with very low transaction fees compared to fiats money. Its value is increasing and its a good opportunity to have a good profit today for the future purposes. No government that will be dictated which is highly secured especially the different transaction all over the world. As of this time bitcoin is the dominant of all over crypto currencies in the cyberworld .

[kodtycoon]

As a NEWBIE, how would you explain bitcoin as against other offline currencies?
Which one has more market value and why do you think so ?

Bitcoin for me is an asset that has a high selling price. Bitcoin is not a currency, so I guess bitcoin can not be compared with currency. If bitcoin is compared to gold, I'm sure it is the right question.

[chineseprancing]

Bitcoin is a crypto currency which lives in the cyberworld and decentralized was occurred. Bitcoin has a lots of privileges , like transaction fees which is easy and fast with very low transaction fees compared to fiats money. Its value is increasing and its a good opportunity to have a good profit today for the future purposes. No government that will be dictated which is highly secured especially the different transaction all over the world. As of this time bitcoin is the dominant of all over crypto currencies in the cyberworld .

Yes it is true that bitcoin is easy to used especially to online transactions, but if you realize offline money was the most usable currency for the real world. Even there's a lot of digital currency that circulate to the whole world, still fiat is the choice of many people.

Maybe because they have lacked of education regarding using of technology or else they can't know the good things given by the crypto currency.

[vidprab5]

As a NEWBIE, how would you explain bitcoin as against other offline currencies?
Which one has more market value and why do you think so ?

Obviously now,the value of bitcoins is greater than any other offline currency because of the demand of its users and because of its future potential. It is also easier to use during technology development

When internet started some years back, you should also realize that it was not massively used as we have it now. One thing we have to understand with technology evolution is that, those who get to adopt it early usually and most times always get the best of it and before it even gets the wide spread usage, it takes time. Maybe, it is high time we started looking at bitcoin or the blockchain technology too in that light.