Do we need bitcoin?

[btc78]

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.

the only problem is not all in each country accepts Bitcoin or other altcoins and in this matter the use of crypto is very limited.
about the ability of bitcoin?it may grow if we will help the community spread the benefits of bitcoin.

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.

and also people tend to trade now using bitcoin,since many people lost their jobs and looking for another way to profit.

[erikoy]

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.

But unfortunately, not many local stores or online stores accept bitcoin as the payment, and they still prefer to use fiat, which converts into debit or credit card. Sooner or later, people will see bitcoin's ability, and they will use bitcoin as we did. But to be used as the payment transaction, bitcoin needs to be legalized by the government, so people will not be afraid to use bitcoin.

The community has different perception on bitcoin. Other may percieve it as digital currency while others it is a form of investment and sometimes both. Well yes, bitcoin could be use to buy for commodities in other areas but for me it is hard to use btc as medium of exchange like buying goods, products or services. This because of bitcoin market price volatility. Most of the business owners had set their price rate and fix profit to which enables them to earn gambling it using bitcoin may loss them in their profits.

[seoincorporation]

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.

You are right, there is a low number of people making transactions for that amount, but the same applies to low amounts too. Try to send $10,000 to Japan from UK by bank transfer and see how high those fees are.

Bitcoin isn't a need now, but is a nice tool to avoid bank fees or govs taxes.

[tourist2079]

Yes, we really need bitcoin. It has so many advantages that it would be unwise not to use it. I agree that the anonymity of bitcoin was exaggerated, but it has something that society is striving for in one way or another - bitcoin does not have a single issuer and regulator, so there is no political influence and the impact of inflation. No one can single-handedly decide what will happen to bitcoin and impose their will on the rest, it is safe yet no one has hacked it - there are still many advantages - isn't this what humanity wants?

[Wexnident]

The community has different perception on bitcoin. Other may percieve it as digital currency while others it is a form of investment and sometimes both. Well yes, bitcoin could be use to buy for commodities in other areas but for me it is hard to use btc as medium of exchange like buying goods, products or services. This because of bitcoin market price volatility. Most of the business owners had set their price rate and fix profit to which enables them to earn gambling it using bitcoin may loss them in their profits.

And that's the reason why BTC adoption wouldn't really replace Fiat in it's place. Bitcoin is more of a specialized currency that can be used on and off depending on what the situation needs. Yes, the anonymity it provides may prove to be used for illegal purposes, but hell, let's stop generalizing things. Anonymity doesn't mean that it's illegal or anything, hiding your identity doesn't mean that you're doing something wrong or anything. Anonymity is just that, anonymity, no need to paint it black or white.

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.

Well, Simplest answer would be Central Authorities are also humans. We put them into high pedestals thiinking they are all oh mighty honest people, but really let's be honest, humans aren't perfect, we're greedy, and I expect them to take advantage of their position for their benefits, which includes mine, so I really think I have the right to avoid them when I want to.

[pragna]

Obviously its needed for us. You see those who were blocked in house in this pandemic situation there income was totally off. there BTC work one and only income source without any risk of virus so that we see more people involved in BTC as a safe income source. In my life also its give me more happy time after i involved with it.

So i think its needed for everyone specially who wants to make extra income besides job.

thanks.

[BlackHatCoiner]

Bitcoin was a great idea during the pandemic.

But most of the people want to have a 3rd party middleman. If someone steals you money from the bank or anything similar, he will give them back to you. If people started using bitcoin, they wouldn't have any "support". I want to be responsible for my money but most of the people are afraid and want the "professionals" to control their finance.

[Kez1817]

For me,i really need bitcoin and we need it especially this time of pandemic. Maybe others use it in illegal transaction or in black market but for me i really need it to support the needs of my family now that i don't have other works caused of covid-19.

[Rana590]

For me,i really need bitcoin and we need it especially this time of pandemic. Maybe others use it in illegal transaction or in black market but for me i really need it to support the needs of my family now that i don't have other works caused of covid-19.

Maybe for you, it is only for this pandemic but many people need bitcoin for their daily basis. As bitcoin is the most popular crypto currency all over the world, people are showing interest on it.

[witcher_sense]

I want to be responsible for my money but most of the people are afraid and want the "professionals" to control their finance.

With the control over your money, not only can they protect you from losing of money, but also they now have the ability to control you, your wealth, your habits, your purchases, etc. Every transaction you make is now being recorded somewhere, these records can be and will be used against you if controllers of your money wish so. Imagine, there is no physical cash at all and all moneis are now digital records in database. They now can control you in other way, for example, to force you to consume instead of saving. They can implement negative interest rates, every day your money in a bank account will be losing its purchasing power and you can't do nothing about it except spending your money before it is debased dramatically. Actually, now we have the promising way to opt out of such controls and that is once again bitcoin, money that cannot be controlled by a single party.

[kateycoin]

I must say that we need bitcoin as we can see that all are evolving especially technology. We know that bitcoin is decentralize and we can use online,it's really useful as we know that we can use bitcoin as payment,buying things and also we can earn or have a profit in bitcoin. It will depend to how we use it and where we can use it.

[NurAzizahhh]

the government cannot track you easily because of the blockchain technology that you use anonymously, the government uses can track bitcoin if they want, but now if you are going to cash your bitcoin and you have to exchange it first for paper money. then the government can track your transactions through their bank or money transfer center. what the government wants is a centralized digital currency so they have full control over it. That is why it is difficult for them to accept bitcoin. Whatever the reason, I still use bitcoin not only as an investment but also as a payment method primarily

[FlightyPouch]

For me,i really need bitcoin and we need it especially this time of pandemic. Maybe others use it in illegal transaction or in black market but for me i really need it to support the needs of my family now that i don't have other works caused of covid-19.

How do you use it though? I also have an investment with bitcoin but I don't think I should rely on it since the profit I am getting from it is not that much to support my family or get what I need in a day. Also, even the price increases, I don't want to use it since it might give me more profit in the longer period of time.

[Reatim]

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.

We don't need to hide something just to use Bitcoin.

have you try sending Money outside your country?have your  family members also try to pay Online items or services?(of course those company that accepting Bitcoin)

Because if does then you Need to learn Using Bitcoin.

- Transaction is much faster

- the Fee is too much lower

thats the first 2 characteristic and reason why we need bitcoin.

[finaleshot2016]

I do need bitcoin, this is one of the easiest ways to grow money without requiring referrals and gifting system which is called a Ponzi. There's a lot of Ponzi scheme around social media and we can't stop it. So I mainly focus on investing a lot of money in cryptocurrency because even it's volatile, it's guaranteed that the price will surely grow. There are a lot of investments and cryptocurrency is the one that I admire a lot.

So I guess bitcoin now has a great part on my life, since my course is somehow related to digital, I can easily discuss or explain the complex ideas about it and has the possibility to develop it. Bitcoin is one of the greatest inventions in the digital world, and that's the reason why I really like it and we need it as our society is going into digital right now.

[Gotumoot]

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.

Do we need freedom? Do you want to earn freely? Do we need a low transaction fee and fast transaction compare to Fiat?
I think we would agree that we need it right, Some of us aren't using it because we are hiding something it is just a lot easier to earn in crypto compare to Fiat and we feel more secure when our money is on our encrypted wallet and on our control.

[Andronadar]

In principle, now there is no urgent need for bitcoin, but what it seems to me will be the opposite

[ShowOff]

I do need bitcoin, this is one of the easiest ways to grow money without requiring referrals and gifting system which is called a Ponzi.

Not a few people can make money from bitcoin in various way. Signature campaign, bounty program, airdrop, trade, investment, mining, and many other way are thing that can get bitcoin. Because bitcoin is an asset that has value, we can sell it on the trading platform into fiat currency and this is how most user get money from bitcoin.

So I mainly focus on investing a lot of money in cryptocurrency because even it's volatile, it's guaranteed that the price will surely grow. There are a lot of investments and cryptocurrency is the one that I admire a lot.

I think you are wrong, we never get a guarantee that the price of cryptocurrency will go up. If an investor is wrong in making investment choices in crypto, then I am sure they will get a failed investment.



OP, the world may never need bitcoin as a new currency that has many advantages over fiat, but many people here need it for various reason, especially regarding transaction convenience and fee.

[coinfinger]

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.

If you ask me I would say what we don’t need in this world are the bad people, but it’s hard to get rid of the people, they will always exist in this life. Imagine that there were only good people in this world, do you think any of them would be on the dark web trading and exchanging trash? No, they wouldn’t. It’s only bad people that you’re going to find on the dark web.

You yourself wouldn’t be there, that’s if you’re not one of those weird people. And you saying that people only use bitcoin for investment and money laundering is wrong. There are lots of people who use it for just transactions. I know a friend of mine that works remotely, the company he works for is in UK and they send him payment using Bitcoin.

We definitely need bitcoin payments. But most people are still using it for speculative reasons but when bitcoin reaches a stable value then they will get back to using it for payment reasons and from that point they will realizing the real need of bitcoins. Only people who realize all the potential of bitcoins plan up for long term holding of bitcoins.

[Latviand]

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.

The reason is that they are not getting benefits from cryptocurrency transactions. They can't collect taxes because it is centralized and its anonymity will really make them struggle on finding those transactions. Taxes from bitcoins are really the urge of some governments that's why they are legalizing it, but not all countries have that knowledge about bitcoin.

Mass adoption isn't enough. Governments must agree with the idea too. In fiat, if the central bank gets hacked, insurance will just make a case to get your money back.

In bitcoin, there's no such thing like that. The government is not responsible with your money or assets, they are not the one who will give back all of those losses once the bank gets hacked.

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.

Fiat money is the most used currency in crimes or scams, especially that not all people are knowledgeable about the existence of bitcoin and other coins.

Some people only recognize fiat money and not cryptocurrency that is so complex and technical to hold.