Why we need bitcoin...

[LUCKMCFLY]

Leaving from every point of view of traditional economists, people who do FUD to BTC, I think that BTC is needed for everything, to be able to have goods and services, to acquire improvements and any type of comfort, you just have to look at such a small country As is El Salvador that its president believes in BTC and is obtaining unique liquidity from BTC, where it offers credit facilities to people to obtain BTC, I believe that this country is an example to the world and to those developed countries in Europe and the USA that do not They took into account nothing of what traditional economists thought about BTC, they only took the risk and now it could be said that it is a country that in a short time will become one of the most developed in the world.

For me the bad news of BTC always means: Buy.

[maju69]

Easy questions to answer but hard to explain. For those of us who have bitcoins any reason why we have or maybe need bitcoins will make sense. But look out there are many who do not understand what we are actually doing. Not only that, some of them even said something unpleasant to hear. In a position like that I can't say they're wrong, and I can't say I'm wrong either.
The point is, this is homework for us in this forum

[globalpain]

Easy questions to answer but hard to explain. For those of us who have bitcoins any reason why we have or maybe need bitcoins will make sense. But look out there are many who do not understand what we are actually doing. Not only that, some of them even said something unpleasant to hear. In a position like that I can't say they're wrong, and I can't say I'm wrong either.
The point is, this is homework for us in this forum

That's right because basically each person has their own view on bitcoin, we can't regulate it,
things like that don't need to be ignored because taking care of people like that will only be a waste of time

[maju69]

Easy questions to answer but hard to explain. For those of us who have bitcoins any reason why we have or maybe need bitcoins will make sense. But look out there are many who do not understand what we are actually doing. Not only that, some of them even said something unpleasant to hear. In a position like that I can't say they're wrong, and I can't say I'm wrong either.
The point is, this is homework for us in this forum

That's right because basically each person has their own view on bitcoin, we can't regulate it,
things like that don't need to be ignored because taking care of people like that will only be a waste of time

I agree that everyone has a different point of view in any case. We can't force what we believe on people. But at least they also let us with our current job, without commenting that no-no. I'm not an anti-critic, as long as the criticism is still within the limits of a reasonable thing.
My principle, you have no right to comment on something you do not know.

[Silberman]

Inflation is one thing, but I also really enjoy having full control of my own money.

No need to ask permission to anyone to spend it in whatever I want.

It's great to spend your money freely. Money is freedom. Bitcoin is freedom.

Without a doubt that is a great advantage of bitcoin, and it could be argued governments and banks hate this even more than the fact that bitcoin protects you from inflation, after all with the banking system banks and governments can block your bank accounts at any moment they want for no reason at all, this allows them to exert a huge deal of power without lifting a finger, as just the threat of this happening to you is more than enough to fear them, after all losing the savings of all your life is terrifying, however bitcoin protects you from this as well and they do not like that we can enjoy this level of freedom without them having any power to stop us.

Not to mention all the Bank Holidays at this time of year.  I can understand X-Mas and New Year's Day, but I have no idea why Monday 3rd Jan should be a Bank Holiday.  Dunno if it's the same in other countries, but it's a Bank Holiday here. 

Bitcoin doesn't know or care what day it is.  It knows only blockheights and has no concept of what a holiday is.   

Good point, while those kind of bank holidays are just a nuisance we know that when governments lose control of their economy they call for bank holidays to protect the banks from a rush against them so they do not go bankrupt, and not only that a bank holiday of that type can last for weeks in which you have no access to your savings, and once the bank holiday is over most likely the amount of money people had on their bank accounts has gone down or it has lost a great deal of its purchasing power during that time, something that cannot happen to bitcoin.

[Mamun74]

Bitcoin already proved Their value.Bitcoin is most popular coin and most valuable Altcoin in market. I think, A Great advantage of Bitcoin. I Think, If you know how much value of bitcoin then you don’t miss this opportunity. Market Little dip so you can buy now more bitcoin for long term holding and i hope you will get good profit from it.Bitcoin is a decentralization so it will be never stable.

[andriarto]

for me, i personally need bitcoin to change fate. where with high fluctuations and has future potential, so it has a great opportunity to earn big profits. on the other hand bitcoin will be a universal currency for the whole world like its main purpose, but in this case i am more interested in getting money from bitcoin investment to become a rich man and be able to diversify my money later

[RealMalatesta]

while those kind of bank holidays are just a nuisance we know that when governments lose control of their economy they call for bank holidays to protect the banks from a rush against them so they do not go bankrupt, and not only that a bank holiday of that type can last for weeks in which you have no access to your savings, and once the bank holiday is over most likely the amount of money people had on their bank accounts has gone down or it has lost a great deal of its purchasing power during that time, something that cannot happen to bitcoin.

We literally have a system where the stock market could be stopped. You literally can't be trading on stock markets whenever the government wants to stop it. That is done to protect the stock prices to crash all of a sudden, and their reasoning turns out to be true some of them which is "crash is overreaction, in a few days it will be back on wherever, so stopping it allows people to relax and make sure".

Sometimes that's true, sometimes in a few days people forget all of it and stocks are back to where they are and if it wasn't stopped then many people would have lost a lot of money. However reality is that we are talking about something that is still too centralized and too dangerous.

[m2017]

I don't think it's news to anyone that money always depreciates. This is due to the fact that money is not a way of storing value, but a means of exchange. Most ordinary people confuse this feature.

Please note that the rich people of the planet don't keep their wealth in money, but keep it in gold, real estate, enterprises and shares of various companies + some in bicoin / crypto.

It is not worth comparing money and bitcoin. In this they have completely different purposes. Although in the beginning bitcoin should have become an alternative to money, but as we all can see, BTC acquired a different purpose as an investment instrument.

[Blue0x.com]

The question is...what do you buy with Bitcoin when the USD collapses?  If the USD becomes so worthless that it is not even worth the paper it is printed on, what do you do with Bitcoin?

[nakamura12]

It depends on why you need bitcoin. Some may use it for transferring funds and whatever reason they want to use Bitcoin. Why do you use Bitcoin or why do buy?. If you can answer that question then you'll know why you use bitcoin or why do you need bitcoin. Every person have their own reasons why they use or buy crypto when there is fiat.

[HUSTLER]

It's more accurate to say we need better government. You know even with Bitcoin there are many ways of doing fractional reserve although it's not in the protocol. Pegged BTC coin like wBTC and other similar coins cannot be guaranteed 1:1. If the tx price continues to rise, this pegged coin will be in great demand IMO. I hope I'm wrong, but it will be the same if in the future we have wBTC, aBTC, bBTC, with different protocols

[tygeade]

I don't think it's news to anyone that money always depreciates. This is due to the fact that money is not a way of storing value, but a means of exchange. Most ordinary people confuse this feature.

Please note that the rich people of the planet don't keep their wealth in money, but keep it in gold, real estate, enterprises and shares of various companies + some in bicoin / crypto.

It is not worth comparing money and bitcoin. In this they have completely different purposes. Although in the beginning bitcoin should have become an alternative to money, but as we all can see, BTC acquired a different purpose as an investment instrument.

I would say that money is means to exchange value but at the same time it doesn't "have to" lose value neither. Doesn't mean it needs to get more valuable neither but there is nothing that says means of exchange needs to drop in value neither.

So, people are getting more mad about the current situation because they are losing so much money whereas they are not making that much more. Imagine USA, we had minimum wage salary crisis in USA and everyone talked about 15 bucks should be minimum way before this inflation, now it should probably be 20+ if you ask me per hour.

However they do not have it and politicians didn't agree on it and it is still a bit over 7 bucks in a world where there is inflation. So, it means that fiat doesn't "need to" lose value, but in a world where people still make very little salary and not increasing, it is silly to accept fiat being so worthless all of a sudden.

[Blue0x.com]

I don't think it's news to anyone that money always depreciates. This is due to the fact that money is not a way of storing value, but a means of exchange. Most ordinary people confuse this feature.

Please note that the rich people of the planet don't keep their wealth in money, but keep it in gold, real estate, enterprises and shares of various companies + some in bicoin / crypto.

It is not worth comparing money and bitcoin. In this they have completely different purposes. Although in the beginning bitcoin should have become an alternative to money, but as we all can see, BTC acquired a different purpose as an investment instrument.

I would say that money is means to exchange value but at the same time it doesn't "have to" lose value neither. Doesn't mean it needs to get more valuable neither but there is nothing that says means of exchange needs to drop in value neither.

So, people are getting more mad about the current situation because they are losing so much money whereas they are not making that much more. Imagine USA, we had minimum wage salary crisis in USA and everyone talked about 15 bucks should be minimum way before this inflation, now it should probably be 20+ if you ask me per hour.

However they do not have it and politicians didn't agree on it and it is still a bit over 7 bucks in a world where there is inflation. So, it means that fiat doesn't "need to" lose value, but in a world where people still make very little salary and not increasing, it is silly to accept fiat being so worthless all of a sudden.

Money should always equal 1:1 in 10,20,30,40 years.  Expanding the money supply is the problem.  1 unit of money today should equal the same unit of money tomorrow.  There is no reason that it ever needs to expand.  If the population increases, lower the price/unit.  If population decreases, increase the price/unit.  Money losing value over time is a the biggest scam given to a nations population.  The increase in money is ONLY TO KEEP THE PONZI GOING.

[fullhdpixel]

The question is...what do you buy with Bitcoin when the USD collapses?  If the USD becomes so worthless that it is not even worth the paper it is printed on, what do you do with Bitcoin?

This is a kind of question that answers itself when the time comes. There are so many things that you can do with the money that you have gotten from your cryptocurrency investment, and whenever you feel it is right for you to sell some coins and invest somewhere else, you would always get that answer that you’re looking for.

You can invest in stocks, real estate, and you can as well invest in starting up a business that would benefit you over the years. This is something I did after I made profit from Bitcoin the first time, I invested in my passion which is photography, and I started up a studio and the business has kept growing.

[savetheFORUM]

It depends on why you need bitcoin. Some may use it for transferring funds and whatever reason they want to use Bitcoin. Why do you use Bitcoin or why do buy?. If you can answer that question then you'll know why you use bitcoin or why do you need bitcoin. Every person have their own reasons why they use or buy crypto when there is fiat.

You start with one reason and before you get to know it, there would be lots of reasons why you would be needing bitcoin. When I started, it was just for me to be transferring funds and as time goes on I started to have other reasons as well, although making a transfer of funds still remains the main purpose, but I have also seen it as an investment. I always make sure that I am buying Bitcoin whenever it’s possible for me to do so. And it has been a good investment so far, because what I gain from it surpasses every other investments I make.

[Yamifoud]

It depends on why you need bitcoin. Some may use it for transferring funds and whatever reason they want to use Bitcoin. Why do you use Bitcoin or why do buy?. If you can answer that question then you'll know why you use bitcoin or why do you need bitcoin. Every person have their own reasons why they use or buy crypto when there is fiat.

You start with one reason and before you get to know it, there would be lots of reasons why you would be needing bitcoin. When I started, it was just for me to be transferring funds and as time goes on I started to have other reasons as well, although making a transfer of funds still remains the main purpose, but I have also seen it as an investment. I always make sure that I am buying Bitcoin whenever it’s possible for me to do so. And it has been a good investment so far, because what I gain from it surpasses every other investments I make.

We actually don't need Bitcoin, it was just the time has come that it was created for some reason that we use to enjoy and sometimes make a living on it. In fact, people can live without Bitcoin and that is true. We still have fiat money where everyone is still using it till now, we can make this vanish and replace it with crypto that is why we couldn't weigh that much, and place Bitcoin as very important to our life.
And since it has existed, why not make use of it? That is all about but certainly, there is no string attached and people will forget this once the time has been done.

[GeorgeJohn]

I do not understand why they publish these statements.

1. Those who actively read and educate themselves would never fall for this news headline. They comprehend what the term inflation protected asset means (even if a bank of england publicist does not).

2.  The demographic that does not read or educate themselves, might believe this headline. But those people never read, and in never reading, would never see it.

That's the problem that still vast majority of people have gone in flow to believe that their currency is becoming strong in world market.For instance people living in US,UK, Canada and some developed nations tend to believe they can spend more in other countries as the third world countries and underdeveloped countries have very low rates because of many reasons but in actual they never see that their legal fiat has lost so much in value overtime and the inflation rates have killed them slowly.But the problem they see is when the conditions go out of hands and the government imposes emergency declaration and then they curse them but it's all in vain.

BOA and other who have built their fiat bubble across the society couldn't see it burst by the Bitcoin and people knowing the reality of their currency that how much it has depreciated over time.The people who are educated about bitcoin will gain knowledge about how it could help them a lot in coming time as hedge guard against inflation due to it's deflationary Nature.There is nice comparison which shows that $1 USD could buy you complete loaf of bread and other items in the past but now it could not buy you daily items with few dollars also because of inflation but on the other side one bitcoin in the past was equal to loaf of bread but now see you could even buy Tesla with it so tells what is best investment?

This is difference which Bank of America and other government officials will hinder you to see it but if you are educated enough to put light on it then you will believe in bitcoin.

I really like this table of fiat  and Bitcoin explanation, it's revolving and showing that fiat currency is reducing in the values when we turn to another year, while Bitcoin is continuing to have value every year so the different is very clear that the values of fiat currency irrespective your country is depreciating in value Everytime, what you purchase it this year by two years it can't afford it, while Bitcoin is affording what it happened to get multiple times with 1btc, so it's important to value and adopt bitcoin than fiat currency from my own perspective.

[Tumanggor]

Bitcoin already proved Their value.Bitcoin is most popular coin and most valuable Altcoin in market. I think, A Great advantage of Bitcoin. I Think, If you know how much value of bitcoin then you don’t miss this opportunity. Market Little dip so you can buy now more bitcoin for long term holding and i hope you will get good profit from it.Bitcoin is a decentralization so it will be never stable.

you have to understand that Bitcoin is not an altcoin, what is called an altcoin is another coin outside Bitcoin!

bitcoin can not be added or subtracted, unlike fiat which continues to be printed every year to be traded. Bitcoin is very much needed because of its decentralized nature, without Bitcoin there is no investment asset or currency that can give us freedom from banks

[palle11]

I always make sure that I am buying Bitcoin whenever it’s possible for me to do so. And it has been a good investment so far, because what I gain from it surpasses every other investments I make.

And this looks a right time for the buying. Bitcoin has hit a point that it looks like a reversion is around. The price has dipped and possibly set for another drive up and buying spray is going to continue, this is what will spike the price up again. We can expect that this first half may be volatile like in 2020 and 2021. Obvious too is that altcoins will have some shake up soon.