Do we need bitcoin?

[serjent05]

Well, do we need it? Because, I can see that people use it only as an investment or as a money laundering tool. Black markets rebornt after the creation of bitcoin. I tried to convince someone to use it, but you know what? I couldn't. Why? Well, honest people don't afraid the central authority, in addition with the dishonest ones. Those who want something that is illegal, cannot do that. So they use bitcoin.

For a daily living?  I say no.  I like Bitcoin but something along the line many people set an agenda into it which I found unhealthy for the national economic growth.

Governments don't want it and they wish they could prevent it, because they cannot track you easily, they cannot tax you, they ..., they ..., they...
Governments like censorship, and there is 0% censorship on bitcoin.

With the presence of third party exchanges, government can easily track people's transaction by implementing kyc.  Blockchain transparency is also a great help to it.  Aside from P2P and underground market, if the person is transacting with registered merchants, they can be easily traced.

I like bitcoin, a lot. But I don't think that this world needs it. Except if they want to hide something. Prove me wrong.

Totally agree with you.

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[Yatsan]

The answer is simply NO.

Bitcoin is just a cryptocurrency and I think many people are buying it including me, for investing purposes and for trading obviously. But if someone will ask do I need Bitcoin then, NO! There's a better alternative for bitcoin if you are gonna use it for daily transaction, a lot of banks are implementing online transactions and E-wallet which is fiat based is booming right now (also the transaction is instant). For me Bitcoin is so hassle to use and not effective if you are just a regular guy who wants to use digital money. Bitcoin for me is just for investment like it or hate it there's a lot and better alternative for cryptocurrency.  

[qiwoman2]

Bitcoin brought the to the world this valuable technological breakthrough and although there are other blockchains with add ons that will further the advancement of this Tech, it still plays a valuable role and is still the most dominant currency in this whole market cap demographic. Will it be the same in ten years down the line? Who knows what will happen then and what breakthroughs in this technology will perhaps bring one of the blockchains to over take Bitcoin. At the moment we need Bitcoin as a measurement for store or value scenarios which Financial Institutions can use to invest accordingly in this fledgling technology.

[Yamifoud]

I like bitcoin, a lot. But I don't think that this world needs it. Except if they want to hide something. Prove me wrong.

Some people use Bitcoin in illegal transactions as they know that they are not traceable but never think that they could be successful all the time. I understand why some countries are not in the support of crypto because of this, but even illegalities hidden the authorities will still hunt them down.

Yeah, and the same with you...I wont seeing that the world needs for Bitcoin because of its high risk and volatility feature. Not even we consider that it places an important role at this time as we use it for another form of cashless payment it is because traditional payment won't either stop. And we know that, people are not 100% committed to crypto adoption and being much comfortable with this.

[seoincorporation]

I like bitcoin, a lot. But I don't think that this world needs it. Except if they want to hide something. Prove me wrong.

Try to make a $1,000,000 bank transfer from London to Japan and see how much the banks charge in fees... now try to do it with bitcoin... it will cost the same than spend only $10, and that's why we need bitcoin.

[peter0425]

I like bitcoin, a lot. But I don't think that this world needs it. Except if they want to hide something. Prove me wrong.

Try to make a $1,000,000 bank transfer from London to Japan and see how much the banks charge in fees... now try to do it with bitcoin... it will cost the same than spend only $10, and that's why we need bitcoin.

This is the reasons that best for bitcoin but never learn by others.
If only the world will accept this advantage?for sure they will accept and use this legally starting  now.

Bitcoin is important for us because governments can't  control it or its price (ofcourse for now). Maybe they can find a way to control it someday.

and this same reason why the government dont want this to be accepted as they cannot manipulate and control the flow of currency inside.

[Swordsoffreedom]

I like bitcoin, a lot. But I don't think that this world needs it. Except if they want to hide something. Prove me wrong.

Try to make a $1,000,000 bank transfer from London to Japan and see how much the banks charge in fees... now try to do it with bitcoin... it will cost the same than spend only $10, and that's why we need bitcoin.

This is the reasons that best for bitcoin but never learn by others.
If only the world will accept this advantage?for sure they will accept and use this legally starting  now.

Bitcoin is important for us because governments can't  control it or its price (ofcourse for now). Maybe they can find a way to control it someday.

and this same reason why the government dont want this to be accepted as they cannot manipulate and control the flow of currency inside.

yeah, it is the main reason. that's why the government don't want to legalize BTC. Govt. is unable to control it or regulate it, they will not be able to determine or definite its value. on the other hand, Bitcoin is not stable like other fiat money, its price goes up or down rapidly at any time, this is one of the main reasons why governments in many countries do not legalize Bitcoin.

[rathaha10]

Well, do we need it? Because, I can see that people use it only as an investment or as a money laundering tool. Black markets rebornt after the creation of bitcoin. I tried to convince someone to use it, but you know what? I couldn't. Why? Well, honest people don't afraid the central authority, in addition with the dishonest ones. Those who want something that is illegal, cannot do that. So they use bitcoin.

You are not entirely wrong to be honest because money laundering and investment purpose are the two most common uses of bitcoin currently and until the entire crypto industry looks at and make good use of the true purpose of bitcoin, it can be said that it is not really needed. Talking about the true purpose of bitcoin, it's meant to provide financial freedom but then again, if you ain't doing something illegal why should one need to hide his financial activities from the authorities. I know good intentions were behind the creation of bitcoin but bad people are using it for illegal things

[FlightyPouch]

Well, do we need it? Because, I can see that people use it only as an investment or as a money laundering tool. Black markets rebornt after the creation of bitcoin. I tried to convince someone to use it, but you know what? I couldn't. Why? Well, honest people don't afraid the central authority, in addition with the dishonest ones. Those who want something that is illegal, cannot do that. So they use bitcoin.

Here's the thing, bitcoin is not actually anonymous for people to actually hide themselves from the world. Remember how Silk Road was taken down despite their usage of Bitcoin? They are reborn? Silk Road 2.0 and 3.0 was taken down too.

There are more anonymous crypto currencies than bitcoin so I don't think we should always talk about people wanting to use it to cover their tracks, still, do we need it? The question here should be do we want it? Not all of the countries adopted this crypto and despite you having a lot of it, you can't still use it. Anonimity? Volatility? Illegal? Do you still want it? It depends, since as you said, they look at it as an investment.

In terms of Money Laundering, this article described it as "sparse". Which we can conclude people treat Bitcoin more of an investment rather than a money laundering tool.

Governments don't want it and they wish they could prevent it, because they cannot track you easily, they cannot tax you, they ..., they ..., they...
Governments like censorship, and there is 0% censorship on bitcoin.

I like bitcoin, a lot. But I don't think that this world needs it. Except if they want to hide something. Prove me wrong.

I respect your opinion but doesn't mean people using decentralized currencies means they want to hide something, can't I just have a crypto for investing? It is not always the anonimity that we take account into, it is the profit. Just look how it move in the pandemic, with the right decisions we could earn a lot by taking that dump as an advantage.

Another thing is that not all of the people even want it. In our country not even quarter of our population are using bitcoin. The government have their hands full with more important problems than thinking how they would tax bitcoin since if they wanted to they can just take it all off on exchanges, but they didn't.

Government wanted censorship, that is why there would come a time where people might use crypto currencies not just for anonimity, but for their freedom.

[Alobo Realer]

I like bitcoin, a lot. But I don't think that this world needs it. Except if they want to hide something. Prove me wrong.

Bitcoin wasn't created majorly to hide transactions, been free from monitoring from central authority and a third party involvement is different from hiding a transaction. Even the central authority are not to be trusted, there are people ruling those and as well have been noticed with many fraudulent acts. In as much as there are honest people who don't need hide no thing, there are those who would take advantage of your honesty. so not involving anyone for payments you make is no worst thing.

[pixie85]

Well, do we need it? Because, I can see that people use it only as an investment or as a money laundering tool.

This shows you don't know many Bitcoiners and don't know much about its acceptance. You can really buy a lot of stuff with it. Browse a little and you'll find uses for it.

Well, honest people don't afraid the central authority, in addition with the dishonest ones. Those who want something that is illegal, cannot do that. So they use bitcoin.

Spoken like a true authoritarian. Napoleon would be proud of you.

[MCobian]

Of course we need Bitcoin, so Satoshi Nakamoto created Bitcoin for all of us. Because they want a change in the sector finance,
which has always been controlled by the government and banks. We with fiat currency cannot get the freedom to control our own
finances. But Bitcoin provides something that is not owned by Fiat, therefore the popularity of Bitcoin continues to increase. To support
Bitcoin try to make it a habit to make payments with Bitcoin, because now there are many merchants that accept payments with Bitcoin,
the more people use Bitcoin, i'm sure the government will legalize it.

[TitanGEL]

We need it because people buy the idea and when bullrun comes you'll get more money out of it. I do think this is enough reason without thinking about the technology behind Bitcoin. If people use BTC as an investment or as a money-laundering tool then its up to them to make use of it.  But they shouldn't think like there are no consequences though.

Since it has a value already before I got into BTC, I then use it and NEED BTC because I don't wanna go back to PayPal.

I see bitcoin mostly as currency and not investment, it is important for me because I keep using it in my daily lives especially right now where there is a pandemic and using digital currencies are more better than using fiat money. We need bitcoin for us to have better payment system, its characteristics are very unique where it is decentralized and there is no central authority of government that can control it.

[kawetsriyanto]

I like bitcoin, a lot. But I don't think that this world needs it. Except if they want to hide something. Prove me wrong.

Me, too. I like and need it, it has a big role in my life nowadays.
Regarding its use for the world, I think it is really needed by the world even if not all people can use it and want to have it today. We don't look at the current adoption or use right now, we should also think for the future. I am pretty sure that in the future, Bitcoin will be more needed and probably utilized by most people in the world. In addition, Bitcoin is created for a digital or electronic money, and it fits for modern life. With the adoption that is getting more massive, it may be fully adopted as a global currency in the future. IMHO 

[Ridwan Fauzi]

Everything needs a proccess. Let say many people now ignore bitcoin or the utilization of bitcoin including investing it or even they are refuse to using it. But I do believe even I higly believe that in the future will use bitcoin, I don't care they use bitcoin as illegal purpose or not but at least they need bitcoin.

Because bitcoin concept is really reasonable for human being. They refuse to using now because they haven't know bitcoin at all, may what has op said most of them only use bitcoin when they do an illegal purpose. It is just a matter of time, like me maybe who was just ignoring bitcoin many time but finally I use it and even I love this technology.

[hatshepsut93]

Most people don't need Bitcoin, at least for now, but some do. You mentioned darknet markets, which isn't always a bad thing, but Bitcoin also created opportunities for donations for those who get censored by mainstream payment methods, Bitcoin allows individuals from sanctioned countries to have at least some financial connection with the rest of the world.

Try to make a $1,000,000 bank transfer from London to Japan and see how much the banks charge in fees... now try to do it with bitcoin... it will cost the same than spend only $10, and that's why we need bitcoin.

99.999% of the population will never make a million dollar transaction in their lives.

[LogitechMouse]

I like bitcoin, a lot. But I don't think that this world needs it. Except if they want to hide something. Prove me wrong.

Not all really need Bitcoin TBH. Some are enough already with using Cash/Fiat right now and some don't have the time really to know what is crypto or Bitcoin in specific.

I don't think that generalizing is good saying that the world doesn't need it because still there are some people who needs Bitcoin in any ways. Yes Bitcoin has been used to hide something like in dark net and there we can see that some really need it to hide themselves.

Right now maybe there are only few who are using the real function of it but give it some time . More and more will use it

[Janation]

IMO, this doesn't need to be asked.

Especially these days when we are in a pandemic, what people need is to sustain themselves and find a way to earn money without risking their lives outside. We don't even need to relate anonimity with this since there are people that are not interested with it. Most of the people I asked said that it is because related or connected to scam.

[Janation]

Yes of course,especially during this pandemic bitcoin helps us a lot by transacting through online that we no longer need to leave the house, and nowadays it is safer to use digital currency compared to fiat. Not everyone believes in the ability of bitcoin but i'm sure that due to it's continued development over the time more people will likely to use it.

It is great that you have that point of view but not all of us are like that.

There are those that look at Bitcoin as a specuoative asset, something that would give them profit ina period of time. They will not be using Bitcoin since they are thinking the profit in the near future. We need it for the purpose of having a profit. Either way, people usually use digital wallets or mobile payments rather than Bitcoin.

[Debonaire217]

I find it somehow one-sided to the disadvantage people could do with bitcoin. In fact, it isn't stated in the white paper of bitcoin that people should use it to scam or commit fraud. But what people are doing is that they aren't exercising the freedom that bitcoin gave to what it should be used to. The complete anonymity with bitcoin isn't made for transaction that is illegal, it is for secured and absolute privacy that one can achieve, if they don't want their transactions to be seen by public. Maybe we could highlight foreign transactions that made easy by bitcoin in which transaction fee is relatively low. Not just that, Bitcoin opened up too many opportunities, new jobs, ease of providing services, and more.