Do we need bitcoin?

[matchi2011]

Except if they want to hide something. Prove me wrong.

Hide something ? Well maybe you looking at the government people or people who are in politics taking away people's money and hiding it in bitcoin but for a real investor and hodlers, they don't need to hide anything. For such investors, bitcoin is real investment and asset.

Agree, for those decent investors they treat bitcoin as part of their investment, they are not dealing with this
investment currency for laundering or hiding their assets, this are misconceptions and a mindset of those who
are not into this business that deep. You'll understand everything once you deal with bitcoin in the right manner
of treating it.

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[mk4]

What I'm saying that if you start accepting bitcoin in your business, no one will track you. And no one will tax you.

Majority of businesses use payment gateways such as BitPay that automatically sells the bitcoin for fiat at point of sale because most businesses prefer not holding bitcoin due to the price volatility. And just like with every single payment processor, they do report to the IRS. So yea, they will get taxed.

https://support.bitpay.com/hc/en-us/articles/203076766-What-do-you-do-with-my-EIN-What-does-BitPay-tell-the-IRS

[Rebisco]

Cash is more often used in money laundering and do you think that cash isn't even used for illegal activities? It's even the most used currency for those methods and this taboo about bitcoin must be changed.

Bitcoin is very much welcome in commercial use and from the perspective of being used illegally, that's changing into the mainstream day by day. It doesn't mean you use bitcoin because you are into illegal activities. You use bitcoin because you know that it's a good investment and a good alternative payment method.

Not only that but cash are mostly experience inflation in these past years, many countries nowadays who now prefer to use digital currencies because of the inflation. Like the country of Venezuela where they experienced hyper inflation that leads to their many citizens to migrate in other countries. I saw a image yesterday where you need to have a lot of cash in order to just buy a whole chicken. Imagine the inflation that they are into, we really need bitcoin because what happened in bitcoin is deflation.

[Eugenar]

Bitcoin is really good for investment, but it doesn't mean that people are using bitcoin because of investment. There are many things that we can do with bitcoin. It's not all about investment. We can use bitcoin for online transactions which is faster and more secured compared to fiat currency. Bitcoin could be a standard currency in the future because it gives us help in many aspects of our lives.

[Coyster]

The question of if we really need bitcoin is subjective, in my own case for example, my country's fiat value is depreciating with the years as well as our economy and i doubt there is any silver lining in the future with covid-19 and the recession coming with it, bitcoin is personally a viable alternative to retain value for your money.

I only hold our fiat and a reasonable mount of it to buy by needs in stores that accept just cash, and to pay bills; as i keep accumulating bitcoins regularly, holding only cash means your money loses value daily, economists have predicted a major inflation/recession coming my country's way, i sure need bitcoin as an alternative when that happens.

[fiulpro]

Bitcoin is a currency started by developers that were interested in the idea of sending online payment without a central authority that would check the accounts. The idea and the whole thing (with Satoshi Nakamoto, blockchain technology etc) inspired many people to use it. And some of them, worked on it. Due to this big adoption and fixed supply, bitcoin went to moon. At least for a while, but it did. And right now it is high as well.

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.

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.

Okay let me clear few things for you :

* It's only used for investments and money laundering ?

Only 10% Bitcoins is used for illegal activities !!
It's an amazing source to transfer the money from one part of the world to another without compromising time/privacy/excess fee and all.
People are buying houses with it !! Even coffee.
Lightning network does need a lot of improvement but in the future we might have some new way to send instantly without using much fee.

* You are seriously talking about governments like they are the rulers of the kingdom and we should do as they please. They work for us not the other way around! Ask for your rights.

See this centralization is disastrous !! We are living in a world where people are oppressed and corruption and discrimination is killing most of them , decentralization gives person a chance .

* It actually gives us a chance to protect our assets in a different way , trade for short and long term , have a option for the time when market falls , even during corona virus Bitcoins did help a lot of people , it provided jobs , opportunities to earn , expand their business overseas without much problems.

* Cash is used way more for these things !!!
We cannot even expect to actually find out about the transactions and such but Bitcoins is transparent and when we are talking about censorship and government , we should understand that it is way more open as compared to any governmental body.

[cheezcarls]

Bitcoin is a currency started by developers that were interested in the idea of sending online payment without a central authority that would check the accounts. The idea and the whole thing (with Satoshi Nakamoto, blockchain technology etc) inspired many people to use it. And some of them, worked on it. Due to this big adoption and fixed supply, bitcoin went to moon. At least for a while, but it did. And right now it is high as well.

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.

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.

First and foremost, we don’t just look at the price movement of Bitcoin. It’s definitely about the real and positive use cases of it. What I really liked about Bitcoin is the full transparency of the transactions through the disruptive blockchain technology. It cannot be tampered and definitely the most secured way in sending and receiving funds online.

This is one reason why we need Bitcoin nowadays. No government can prevent us from competing the transactions here and there. Just my opinion.

[Shasha80]

I come from a low-income country, so I need Bitcoin to get income. It is true that not everyone need Bitcoin, then the number of people who
have Bitcoin is still small when compared to fiat. But in the future people will need Bitcoin. Because we need an alternative payment other
than fiat and also we need privacy, these two things Bitcoin can provide.

[Oasisman]

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.

The idea of Bitcoin creation is not to hide something. It's just that the decentralized feature of Bitcoin attracts the people in the SR black market and any other illegal use, then took advantage of it.

I won't say the world doesn't need it, when banks has our data and money. I mean we don't have the full access to our asset. The main idea of Bitcoin is to let us acquire full access of our money. You can easily send and receive Bitcoin anytime anywhere without any confirmation from a third party company (banks) that sometimes fail to work.

[Botnake]

Bitcoin is just an online currency which is decentralized, just like a money, you can use it for illegal or legal purposes, that depends on your decision as you are in control of your coin. You are asking if we need it, yes we need it because the centralized system built by the government is corrupt, with decentralization, we can make transactions of our own without a 3rd party and investors are seeing that potential, reason why bitcoin has increase its value already.

Maybe some would hate, but we can't blame them, everyone has their own stance, and besides, bitcoin is still young, it still need years for people to completely adopt and the market will be fully regulated.

[tyz]

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.

If you think we don't need Bitcoin, then find out about the enormous debt bubble that has been inflated especially since the financial crisis of 2008 and is exploding even further in the current corona period. Bitcoin is currently the only stable value element besides gold in a crazy global fiat financial casino.

[maydna]

People will need bitcoin, especially for people who want to have freedom in financial and investment. People can manage their own money in bitcoin, whether they will use for buying something, or hold it as the investment, or other things, and that will depend on what reason for every people who have bitcoin.

You don't have to convince people around you, but you can introduce bitcoin to them, and let them decide. I am sure if they have an interest in bitcoin, they will come to you to ask more about bitcoin, so at that time, you can teach them how to have and use bitcoin. I am sure that an honest person will want to have bitcoin if they have an open mind about something new because we talk about technology, which always develops.

We don't need to think about the government will prohibit, ban, or whatever it is because as long as we can use bitcoin, we don't have to worry about that.

Bitcoin is for people who want to have and use, and if the government ban bitcoin, but people want to use bitcoin, they will find out the way to still use bitcoin.

[jossiel]

Cash is more often used in money laundering and do you think that cash isn't even used for illegal activities? It's even the most used currency for those methods and this taboo about bitcoin must be changed.

Bitcoin is very much welcome in commercial use and from the perspective of being used illegally, that's changing into the mainstream day by day. It doesn't mean you use bitcoin because you are into illegal activities. You use bitcoin because you know that it's a good investment and a good alternative payment method.

Not only that but cash are mostly experience inflation in these past years, many countries nowadays who now prefer to use digital currencies because of the inflation. Like the country of Venezuela where they experienced hyper inflation that leads to their many citizens to migrate in other countries. I saw a image yesterday where you need to have a lot of cash in order to just buy a whole chicken. Imagine the inflation that they are into, we really need bitcoin because what happened in bitcoin is deflation.

The inflation and deflation comparison. Bitcoin's into deflation and yearly there's an inflation for cash. The hyper inflation in Venezuela is tragic, I can't imagine how I'll survive there but in some videos that I have watched, it was said that citizens there are benefiting from bitcoin.

And transactions are commonly done through cashless payments.

[Kelvinid]

It so bolded enough to see that Bitcoin isn't for everyone nor the world needs it. And I agreed with that. But you can stop people to use it of anything they to for their Bitcoin, and even its use for money laundering or another form of illegalities. People have their right but somehow it held liabilities that authorities won't agree of being uncensored.

Though authorities don't want Bitcoin nor they give support for crypto but they can't stop people to use this either. For a decade of existence, it found out that Bitcoin demand has increased, and may we able to say the world never needs Bitcoin but somehow Bitcoin places something important now and in the future.

[Antraz]

Short story about a bank that went bankrupt and not


It was 2008/2009 financial crisis
Average joe lost a lifetime of savings, its been 10+ years and still those normal people, some who worked their entire lifes, some that imigrated some who didnt even had consideraval amounts, still waiting for their money.


Meanwhile in these more than 10 years there were a series of uncovered truths that finally saw the light, exposing the natural rich who controled the bank, some peole from the government itself even the prime minister at the time, national phone and electric company all involved in a series of shady business.
Bank changed name, government inject billions on it and counting...now the thing is "should we nationalise the bank in order to save it again while those poor people never got to see their money and they never will"


id rather have bitcoin with all its flaws than continue to experience these sort of modus operandi that only a few "elite" is allowed.

[AniviaBtc]

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.

Governments probably don't find bitcoin as an effective tool to help the economy of a country grow due to its volatility. As they can't collect taxes from bitcoin transactions, they can just benefit those local businesses and not on the centralized transactions. That's why they keep on keeping it illegal in some countries due to selfishness and not thinking of the government's benefits. It is really hard to trust government if those politicians are corrupt.

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.

We need bitcoin because it has the ability to secure our future, it can be a store of value and a source of profit depending on how you will make it grow with your hardwork and effort.

[20kevin20]

You don't have to convince someone to get into BTC. Same goes for precious metals. Some people simply don't think a precious metal should have any value at all. Others use gold as a money laundering tool.

Put the illegal uses to the side and think of the real benefits Bitcoin provides. Crimes will always exist in any medium. BTC crimes are nothing compared to the amount of fiat and bank crimes there are every day. I personally need it for the freedom it gives me. I'm simply sick of the literal slavery banks put us into, so I'd rather be my own bank instead.

I don't think I have done something illegal through crypto and that certainly isn't my goal. My only goal is to be financially free. In the end, I'll probably cash out and pay my taxes in order to materially benefit from my coins - but nobody will know what happened between the moment I bought and the moment I sold all my coins. I might as well use a mixer to improve my privacy - and in the end, I know that my money is real, has not been counterfeited/double-spent and the inflation rate is precise and known. The trustless manner of BTC is wild.

[Leviathan.007]

Let's answer this question by the Bitcoin price. When we need something we demand that thing and increasing demand means increasing the price. Let's say Bitcoin was always in uptrend on long and short term, so I believe according to what I said yes people really need Bitcoin and that is the reason of the increasing demand. Usually for people seeking for some privacy bitcoin is a haven if you know how and where to use it. Also for people transferring a huge amount of money, thy will never need the traditional weak system.

[MarioV]

Any sane person who works and accumulates wealth (little or much) is not happy to lose it because of the distorted monetary policies of these centralizers. Because only the "unhealthy" do not notice the great inflation going on (also because of the distraction and ignorance).
That's why bitcoin is needed, and how it is needed. To keep own capital (to buy the things we want or need): to be free financially.

[Golftech]

Any sane person who works and accumulates wealth (little or much) is not happy to lose it because of the distorted monetary policies of these centralizers.

Good point, there are people who wanted to be free from this centralized types of monetary system.

Because only the "unhealthy" do not notice the great inflation going on (also because of the distraction and ignorance).

Ignorance from how things are working, and that's the reality those who don't have that richness in life doesn't care about inflations.

That's why bitcoin is needed, and how it is needed. To keep own capital (to buy the things we want or need): to be free financially.

Bitcoin is a great alternatives if you want to feel this freedom, since you can hold as much as you want nd store it from your own wallet
without any interfere of any centralized bankings.