It's all about "why" do I need Bitcoins

[deadgiveaway]

- If you don't convert to fiat, no tax got to be paid on the money you earn. So if you would prefer not to give 60% of your wage away, you need Bitcoin.

Great, let's all do that. No one pays tax ever again. Yippeee.... Just like Amazon, Google, Apple in the UK.....

Then let's see how fast the infrastructure of the planet collapses.

What if a newer/better infrastructure financing method is invented?

[elements]

- People who needed an unseizable trust fund before 

- People who needed a prenup before

- People who want to send money
(even if it's only like this cash=>exchange to BTC => send BTC => receive BTC => exchange to local currency)

- People who want to trade devisable assets without having the need to store any denomination of the currencies needed in the trade
(you may have cash with you but if you suddenly end up having to pay exactly 32.733 Dollars/Euro/Pound you might not be able to)

- People who want to travel with their money without restrictions (like there is in many countries for cash or bullion)

- Once the reoccuring payments are implemented in the client(s) it can be a very nice and easy way to divide your monthly income
=> kids' allowances, retirement savings, reserve fund for vacation, reserve fund for a new car, household expanses/groceries, etc.


 

[cr1776]

Or they are responsible and use them as a zero cost loan for30 days and pay off the balance each month while earning rewards.

Mericans use credit cards because they live too far outside their means or they aren't paid enough to support their lifestyle. Foolish people exist on credit. Bitcoin isn't a replacement for credit it can be used to replace cash in some circumstances.

[crumbs]

Or they are responsible and use them as a zero cost loan for30 days and pay off the balance each month while earning rewards.

Mericans use credit cards because they live too far outside their means or they aren't paid enough to support their lifestyle. Foolish people exist on credit. Bitcoin isn't a replacement for credit it can be used to replace cash in some circumstances.

Heathen!   Heretic!   Witch!   Good lord almighty, HAELP!  Burn the witch!

[worldtreasurefinders]

The whole world needs bitcoin because governments cannot be trusted to manage our money systems.

[Moogle]

because people are willing to pay cash for it. and we can use that cash to buy other things we actually need like food and stuffs

[bitrich]

People with open minds can see the potential of bitcoin. No one should control your money except you. When you actually take a step back and look at how much of your money goes to taxes and fees, even the average person, you start to see the potential. P2P finance is an infant and the nature of the system opens the doors to not only a currency revolution, but a P2P internet revolution where the people take back control of everything we should have controlled all along. Our money, our personal info, and our privacy.

More people will use bitcoins as soon as there are more ways to use them. I've never met a smart person that wasn't immediately interested in the potential of btc when I introduced them to it. To me it's a no-brainer. And the no-brainer is not that bitcoin will be the one global currency of the future. It's that this idea will be the base idea behind currency, communication and digital storage of information in the future. It may not be bitcoin, but it will be something like it. Maybe we will get a new version every few years like windows. who knows, but it really could empower the common people. Ive read this whole thread and there have been some really great arguments made in bitcoins favor. The only one for fiat is basically that's what everyone uses and you can avoid fees if your smart and the world will collapse if we stop paying taxes. Im not saying people should not pay taxes. But what if you knew exactly where the taxes you paid went and you could pay based on the benefits you received from tax monies locally within your local community? There's no reason why bitcoin (or something like it) couldn't eventually replace fiat altogether. And we already know fiat can't do what bitcoin can. We just need the market price to start a more stable growth pattern, make it super easy to use, make it way more easy to access, and keep coming up with gadgets and technology that allows you to do really cool news things with money and it will takeover. I have no doubt about that and I really feel like this is going to be the next big leap in how we interact with currency and people. The next big revolution and I am even more excited now than I was a year ago when I first heard about it.

.............and oh yeah if it does succeed, btc is gonna be worth a whole lot more than it is now........yeeehaaaw

[fenican]

LOL at the assertion that Bitcoin is immune to inflation or that BTC transfers are free

The fact that the network must be maintained by a large number of miners, with expensive hardware, who expect to be compensated, dictates otherwise

The compensation those miners receive comes from (1) dilution and (2) fees.  Sorry.  No free ride.

To date, early Bitcoin investors have been fortunate that the speculation has, so far, greatly exceeded the dilution resulting in a massively deflationary currency

Unfortunately, for anyone but the early investors, deflation stinks - see Japan

[niko]

Lots of dangerous misconceptions in this thread. The only reason Bitcoin offers certain degree of anonymity is its obscurity and novelty.  If and when it gains traction,  block chain will become a data-mining heaven for corporations and governments.  At least it's open to all, so no unfair advantage there. Overall, you are delusional if you consider Bitcoin inherently anonymous, and quote anonymity as an answer to "why do I need Bitcoin?".


I need Bitcoin as a tool for instant, simple, affordable online payments. I need it as a store of value immune to arbitrary inflation by the self-appointed asses. I need it as a tool of financial transparency of corporations and governments.