Bitcoin Economic Advantage

[wxa7115]

Lucky are those individuals who get involved and stayed with Bitcoin and really made a profit, because not everyone has become successful upon seeking a fortune in investing with crypto, especially those who had been targeting a short but huge profit gains (the greedy ones).
However, Bitcoin's economic independence is really an important matter to escape the inflations due to corruptions that has continuously happening and will still happen in the many years.

We cannot say that they were lucky, after all I think the cases of people that held their coins accidentally for many years and obtained profits are not very numerous.

The vast majority of those that held their coins did it with the intent of never selling them no matter what happened, after all I think we all remember the crash of 2017 that caused the price to go from 20k to 3k, many people simply failed to hold their coins in that scenario and personally I do not blame them, however the few ones that held their coins needed to have incredibly strong hands to not sell under those circumstances, so I think it is unfair to say they were lucky when luck had nothing to do with it.

[RILWAN]

In the nearest future newcomers will still be referring to us as the lucky guys who dive into Bitcoin at such an early stage as this, the only way we can make a difference is to decide never to sell but that decision is somehow hard for most holders at this moment most especially the smallholder who just need some little profits.

[Shasha80]

Lucky are those individuals who get involved and stayed with Bitcoin and really made a profit, because not everyone has become successful upon seeking a fortune in investing with crypto, especially those who had been targeting a short but huge profit gains (the greedy ones).
However, Bitcoin's economic independence is really an important matter to escape the inflations due to corruptions that has continuously happening and will still happen in the many years.

We cannot say that they were lucky, after all I think the cases of people that held their coins accidentally for many years and obtained profits are not very numerous.

The vast majority of those that held their coins did it with the intent of never selling them no matter what happened, after all I think we all remember the crash of 2017 that caused the price to go from 20k to 3k, many people simply failed to hold their coins in that scenario and personally I do not blame them, however the few ones that held their coins needed to have incredibly strong hands to not sell under those circumstances, so I think it is unfair to say they were lucky when luck had nothing to do with it.

I agree we can't say lucky to people who have believed in the future of Bitcoin from the start. So they are holding Bitcoin because they believe
that one day the Bitcoin price will be very high, and their patience paid off with the Bitcoin pump price being very high this year. No wonder
many institutions decide to invest long-term in Bitcoin, because indeed they understand Bitcoin is a profitable asset. If we do our research properly,
we will surely realize Bitcoin has a great performance compared to other assets. So people who decide to invest long term in Bitcoin and are
determined not to sell it before their target is reached. Such people will usually make big profits from Bitcoin and it is not because they are lucky.
But they did what everyone should do by trusting the future of Bitcoin.

[bosede1]

So far generally I think with the economic situation in my country since the beginning of this year the money I realized from doing bounties is twice my salary summed together from January to December, just grateful for having another source of income.

[apur688]

I think bitcoin economy, or another crypto actually is like  a business or industry, all of them can give you profit or lose. So the problem is not on the kind of business , but our knowledge, ability, skill, etc. So, If you are really good in the bitcoin economy, you have the skills if reading and analyzing price chart, etc, it will give you more advantage, profit.

If talking about the advantage of bitcoin econony, I think it must be the profit, we can't say that it is stable and keep our value asset because the price is always changing significantly.

[laredo7mm]

100% economic independent.

I totally agree with this line. The situation in my country is the same as yours. Inflation, corrupt officials, higher unemployment rates crashing our economy. People are trying to find a good source of income when youth are rarely got any job after graduation. In this hard time, many like me find stability in their economic life through crypto. I do not have any full-time job right now but still, I can live a balanced life and support my family. Crypto gives us 100% economic independence.

[syedakhlaque]

I reside in a country where the rate of inflation is high with a corrupted political system and tenures that have stolen the collective wealth of the nation and have crippled the economy, a high percentage of unemployed graduates who have in the last few years discovered blockchain and have gotten involved in Bitcoin activities such as trading and investments. Indeed Bitcoin has given us the economic power to overcome the crashing economy of many nations. 100% economic independent.

Yes, dear, you are right. The bitcoin business works as the spring may work in autumn. Especially in a third-world country where unemployment and poverty is a big problem.If the Govt of these countries does proper work to legalize and manage the tax system for bitcoin. This act will bring revolutionary change eliminating poverty and unemployment.

[andriarto]

100% economic independent.

I totally agree with this line. The situation in my country is the same as yours. Inflation, correct officials, higher unemployment rate crashing our economy. People are trying to find a good source of income when youth are nearly got any job after graduation. In this hard time, many like me find stability in their economic life through crypto. I do not have any full-time job right now but still, I can live a balanced life and support my family. Crypto gives us 100% economic independence.

Talking about officials in the state alone, seems to be envious of their facilities, which are said to be representatives of the people. but never mind, at this time many of my friends are working on cryptocurrencies with their various ways, including trading and investment being an option besides that with the bounty of course it has a big influence

[Tellek Garing]

So far generally I think with the economic situation in my country since the beginning of this year the money I realized from doing bounties is twice my salary summed together from January to December, just grateful for having another source of income.

that is one of the advantages of cryptocurrency it gives you a level up in your financial life, that is why many refer to it as life Savior.
Bitcoin gives us an edge over the local economy system where taxation will take a large part of our monthly earning.

[Silberman]

Sometimes media hype is somewhat the main reason on why we see people keep losing on their trades since they are promoting crypto or bitcoin in wrong way and sometimes they always talk about the gain especially if we are in bear market and report a little risk only which people will not bother to take. Maybe if people will just be there to find knowledge first before going unto their trades for sure they can minimize their losses and also can able to learn the mistake they made on their past trades.

I am not entirely sure how much media is impacting crypto in volatility, sure the direction could be manipulated as we all know but the volatility is not something they could be manipulating. They could talk about how awesome gold is all day everyday and it will not have the movements bitcoin has and that is one problem that we can't solve these days.

Bitcoin is a volatile thing because it is not regulated, all those manipulations and moves do not end up being something crazy, they are just outright insensible and if we were to continue with this then we can't just keep on claiming it is the media that is at fault here, it is the bitcoins volatility that makes us move so hectically and make people lose money.

The volatility of bitcoin also comes from its inelastic supply, for example we know that fiat can be printed at will and this causes it to lose value over the long term, and sometimes when we see high inflation or even hyperinflation this can happen in the short term as well, however the fact the government can print it and create more of it out of nowhere reduces its volatility when demand increases, but this is not possible with bitcoin as the number of coins and the rate at which are created is limited by the code, increasing the volatility of bitcoin in the process.

[laredo7mm]

100% economic independent.

I totally agree with this line. The situation in my country is the same as yours. Inflation, correct officials, higher unemployment rate crashing our economy. People are trying to find a good source of income when youth are nearly got any job after graduation. In this hard time, many like me find stability in their economic life through crypto. I do not have any full-time job right now but still, I can live a balanced life and support my family. Crypto gives us 100% economic independence.

Talking about officials in the state alone, seems to be envious of their facilities, which are said to be representatives of the people. but never mind, at this time many of my friends are working on cryptocurrencies with their various ways, including trading and investment being an option besides that with the bounty of course it has a big influence

It's good to hear that many of your friends are working on a bounty campaign. But I personally think that after working as a marketer of a new project we should focus on technical things too. Like learning programing language and blockchain. Because working only on bounty will not give you good revenue for a long time because of the uncertainty of project success or project being scam one.

[LUCKMCFLY]

I reside in a country where the rate of inflation is high with a corrupted political system and tenures that have stolen the collective wealth of the nation and have crippled the economy, a high percentage of unemployed graduates who have in the last few years discovered blockchain and have gotten involved in Bitcoin activities such as trading and investments. Indeed Bitcoin has given us the economic power to overcome the crashing economy of many nations. 100% economic independent.

I belong to the same country. It's truly hard to live in such state that has corrupt government officials who only think of themselves and not the betterment of the country's economy and the citizens' welfare. Here in our country, there are a lot of traditional politicians that only aim to bag money from the people's taxes. It's very awful because despite the pandemic crisis, they still have the guts to manipulate and deceive the whole nation with their evil schemes.

In addition, financial literacy isn't really much tackled here resulting to more people falling under the poverty line. There's lack of opportunity, lack of education, high inflation rate, and high unemployment rate that causes the economic status to decline. This is where bitcoin becomes very beneficial to most of us. Right now, most people view bitcoin as a safe haven of their funds because it is lesser prone to inflation. To add, bitcoin is also isn't manipulated or controlled by the government which makes it ideal to be a store of value because they can't just excessively make it out of thin air which could compromise its value. Bitcoin and crypto in general also offer a lot of opportunities that the government can't provide. It's truly a blessing moat especially to those who don't have so much because they can make the most out of their resources if they will just strategize the right way.

From the description they give, it is likely that I am also from the same country, but it should be noted that the movement and volume of BTC is very significant, and if we look at high inflation it is not affected by BTC, which It means that we are not even drawing accounts with FIAT money, but we calculate our currencies or see it in terms of mBTC to be able to make changes, especially when BTC is high which is much easier because they are less satoshis, the bad thing is to make an exchange when It is in bearish trend. Without a doubt, the model of El Salvador is turning out to be the envy of many government systems, although if we are talking about the same country I think that what is coming for the banks is to work directly with BTC, when they see that is what they are going to do.

[hyudien]

The volatility of bitcoin also comes from its inelastic supply, for example we know that fiat can be printed at will and this causes it to lose value over the long term, and sometimes when we see high inflation or even hyperinflation this can happen in the short term as well, however the fact the government can print it and create more of it out of nowhere reduces its volatility when demand increases, but this is not possible with bitcoin as the number of coins and the rate at which are created is limited by the code, increasing the volatility of bitcoin in the process.

Fiat is printed at will if it's America, but other countries still can't, if they don't have it if they don't have a supply of gold as collateral. Therefore, the central bank controls the movement of fiat money in circulation in accordance with the value that has been converted to reserves owned by a country based on the old gold resources owned. But the United States did as they pleased which ultimately resulted in the current long term inflation.

Back to the diverse economies of each country, it is none other than the policy that does not prioritize the development of available resources. Its management is lacking and the government that implements state law tends to be blunt upwards but sharp downwards. Strangling the people to work hard and obey taxes, but the result of economic equality is not felt by the people themselves.

[habebe]

A Bitcoin is best adopted by countries with totally low economies.  The cryptocurrencies of these countries are subject to an inflation, so the government becomes accepting a broad Bitcoin crypto currency as their currency because Bitcoin is known in their country of origin and it will not happen again with an inflation.  This is the advantage of fiat that can earn value all the time.  People are willing to suffer, trust more than Bitcoin because it is already in the control of governments meaning bitcoin can you earn more than what you think because it is accepted by the government.

[Silberman]

The volatility of bitcoin also comes from its inelastic supply, for example we know that fiat can be printed at will and this causes it to lose value over the long term, and sometimes when we see high inflation or even hyperinflation this can happen in the short term as well, however the fact the government can print it and create more of it out of nowhere reduces its volatility when demand increases, but this is not possible with bitcoin as the number of coins and the rate at which are created is limited by the code, increasing the volatility of bitcoin in the process.

Fiat is printed at will if it's America, but other countries still can't, if they don't have it if they don't have a supply of gold as collateral. Therefore, the central bank controls the movement of fiat money in circulation in accordance with the value that has been converted to reserves owned by a country based on the old gold resources owned. But the United States did as they pleased which ultimately resulted in the current long term inflation.

All currencies printed by the governments are fiat, it is true that as an example Japan cannot print the US dollar and only the US can do that but Japan can print their own local currency and they have been abusing that power like any other government around the world, so there is nothing limiting governments at the time to print as much money as they want.

Also historically it was the rest of the world that began to disregard any kind of limitation to print their currencies due to WW2, so the US was left with most of the gold of the world creating a huge unbalance, so countries agreed back then to treat the dollar as they did gold, so they kept their reserves in dollars which were “as good as gold” and the US kept the gold they got during that time, but then the US began to abuse their power to print the dollar and they were forced in 1971 to abandon the Bretton Woods system due to the Nixon shock.

[Anguwa]

I reside in a country where the rate of inflation is high with a corrupted political system and tenures that have stolen the collective wealth of the nation and have crippled the economy, a high percentage of unemployed graduates who have in the last few years discovered blockchain and have gotten involved in Bitcoin activities such as trading and investments. Indeed Bitcoin has given us the economic power to overcome the crashing economy of many nations. 100% economic independent.

This is plain truth, not only in your country, my own too. Politics have ruined our country's economic system, graduates are increasing every year and the government have no work for them,this made many graduates to go into crypto trading and other online business just to bring food to their table, because the government did not have plans for the number of graduates and unemployed youths on grounds. Cryptocurrency has been a live saver and trying to stabilize economic.

[GeorgeJohn]

I reside in a country where the rate of inflation is high with a corrupted political system and tenures that have stolen the collective wealth of the nation and have crippled the economy, a high percentage of unemployed graduates who have in the last few years discovered blockchain and have gotten involved in Bitcoin activities such as trading and investments. Indeed Bitcoin has given us the economic power to overcome the crashing economy of many nations. 100% economic independent.

For bitcoin to support for the boost of your country economy as you said, that means your country have legalize the adoption of bitcoin and use it as part of her economy booster, really the uses of bitcoin across the nation has reduced some rate of unemployment in the societies perspectively, because youths now hour days pay attention immensely in trading, it's very obvious that bitcoin has eradicate the gravity of unemployment as i stipulated initially.

[TheGreatPython]

I reside in a country where the rate of inflation is high with a corrupted political system and tenures that have stolen the collective wealth of the nation and have crippled the economy, a high percentage of unemployed graduates who have in the last few years discovered blockchain and have gotten involved in Bitcoin activities such as trading and investments. Indeed Bitcoin has given us the economic power to overcome the crashing economy of many nations. 100% economic independent.

You have just described the country similar to my country. The government doesn’t provide enough jobs for the youths who graduate from schools every year, and most of them after their graduation from schools just end up being jobless, since there are not much jobs available in the country, so they now have to look for a way to fend for themselves, maybe by starting up any kind of small business. And the lucky ones are able to start up these businesses and grow them from a small level to a bigger level, and become employers of Labor themselves.

I have seen a few of them who now focus on cryptocurrency; they trade bitcoin and other coins on a daily and that has become their own source of income, have seen a lot of them that became successful from there.

[Silberman]

I reside in a country where the rate of inflation is high with a corrupted political system and tenures that have stolen the collective wealth of the nation and have crippled the economy, a high percentage of unemployed graduates who have in the last few years discovered blockchain and have gotten involved in Bitcoin activities such as trading and investments. Indeed Bitcoin has given us the economic power to overcome the crashing economy of many nations. 100% economic independent.

This is plain truth, not only in your country, my own too. Politics have ruined our country's economic system, graduates are increasing every year and the government have no work for them,this made many graduates to go into crypto trading and other online business just to bring food to their table, because the government did not have plans for the number of graduates and unemployed youths on grounds. Cryptocurrency has been a live saver and trying to stabilize economic.

Now truth to be told, the education system has a lot of problems too, the requirements to go through college have gone down dramatically as the education system became nothing more but another industry that is trying to extract money from you instead of being a place to learn, so people cannot find jobs after graduating college because there are no jobs that use the skills that you were taught at school, which is why besides trying to get your degree you need to also train yourself on getting marketable skills so you can more easily find a job.

[Wiwo]

In the nearest future newcomers will still be referring to us as the lucky guys who dive into Bitcoin at such an early stage as this, the only way we can make a difference is to decide never to sell but that decision is somehow hard for most holders at this moment most especially the smallholder who just need some little profits.

Holding is not an easy thing and most small holders need money to pay bills and take care of some financial need, bitcoin is a great tool for economic independent and this have lead to small economic stability and a hedge over inflation.