How far has Bitcoin been effective?

[Quintom]

Bitcoin (BTC)has really been helpful, mostly to the unemployed youths, the problem is that most people don't understand how it works, personally I need to be more enlightened.
I'm a newbie.

[BitMaxz]

Since you are Jr.member you should be aware of the search button(Magnifying glass) that you can find in the upper right of this screen?

Here are some of the threads that you can find if you research a bit the same as your topic as a newbie.

- https://bitcointalk.org/index.php?topic=5258366.0
- https://bitcointalk.org/index.php?topic=3331379.0
- https://bitcointalk.org/index.php?topic=5361531.0

I know how hard to explain it to other people who don't know about Bitcoin I have experience telling some of my friends before but they told me that Bitcoin is a scam even I have already withdrawn Bitcoin many times before except on scam Bitcoin cloud mining and investment site.

If you want to learn more about Bitcoin better read some books here List Big Library of Bitcoin & Blockchain Books

[sheenshane]

In all aspects, Bitcoin is really helpful even during there's a war and a country has sanctioned, alternative payment is the best choice was Bitcoin.

There are a lot of resources provided above, you need to understand and dig deeper what is the use of Bitcoin and how it will work through blockchain technology.  We've also an eBook that you can read free just read this thread, [RESOURCES] Free bitcoin/blockchain/finance eBook.

Just simply use the search engine box here on Google and you will find a good answer and even simply reading the Bitcoin Whitepaper you'll understand everything for sure.

[Vaskiy]

That's very simple to understand. There are many misunderstanding about bitcoin that it can provide employment, it can make someone rich in a short time and more. Bitcoin is beyond this and the true value can be understood with the recent usage of bitcoin by Russia to overcome the sanctions from different organisations and firms.

How effective is the bitcoin, it gets to be effective according to the scenario.

[noorman0]

Bitcoin (BTC)has really been helpful, mostly to the unemployed youths,

This assumption needs to be straightened out. Bitcoin just gives you unlimited expansion of workspaces around the world where you probably won't find your skills needed near where you live. However, it depends on how hard you try to earn bitcoins through work, otherwise you will remain unemployed. Investment is not recommended for the unemployed, bitcoin cannot be relied on to meet daily needs.

Because bitcoin does not require an administrative request to have an "account" like a bank. All you need to do is generate Privkey, then you have your own bank with full control to accept bitcoin from anywhere.

[The Cryptovator]

Bitcoin has nothing to do with employed or unemployed people. Ita for all people in the world. Why I am saying that because if you think Bitcoin is a money-making project and jump into it without proper knowledge then you are in the wrong way. It's quite important to know Bitcoin, how it works, and related basic technical things. You need to use different platforms to learn like YouTube, Google search, and forum. It would help you a lot, if you do not find your desired answer then you are free to create a question here. And please don't create a useless thread where you would find a solution by a simple search.

[Poker Player]

Bitcoin has nothing to do with employed or unemployed people. Ita for all people in the world. Why I am saying that because if you think Bitcoin is a money-making project and jump into it without proper knowledge then you are in the wrong way. It's quite important to know Bitcoin, how it works, and related basic technical things.

Yes, we already had a similar thread last week. On the one hand the OP contains a praise for Bitcoin, which I think is trying to fish for some merit, and on the other hand, it obviates that Bitcoin is a tool, which in itself is neither good nor bad, that can be used to pay a terrorist escaping the authorities as well as to send humanitarian aid.

It is true that there are people who earn Bitcoin online or with signature campaings, or trading or offering online services, and this is an advantage over physical jobs, but it happens with the Internet in general, which has opened many possibilities and is not unique to Bitcoin.

[mk4]

read, read, read.

* If you like reading articles: https://coindesk.com/learn
* If you like reading books: https://theinternetofmoney.info/
* If you like watching videos: https://www.youtube.com/playlist?list=PLPQwGV1aLnTuN6kdNWlElfr2tzigB9Nnj

Security related:
* https://cryptosec.info
* https://www.lopp.net/bitcoin-information/security.html

If you want to get more technical
* https://github.com/bitcoinbook/bitcoinbook#chapters
* https://github.com/ethereumbook/ethereumbook#chapters

[GeorgeJohn]

Bitcoin (BTC)has really been helpful, mostly to the unemployed youths, the problem is that most people don't understand how it works, personally I need to be more enlightened.
I'm a newbie.

Since the existence of bitcoin since 2009 it has been a helpful to everyone who comes across it and especially who captured it's value from day one, now everyone is investing in bitcoin, both average and nor average person, before people scandal the validity of bitcoin by giving it a tag that is meant for fraudulent activity, it's used for money laundering and other kinds, but today is like a universal currency that everybody adopt. In some certain environment's or countries, Bitcoin has helped to eradicate some level or heights of unemployment to the societies since people started to know it's value, because they trade and perform other online activities that's related Bitcoin in order to get funds

[GeorgeJohn]

Bitcoin has been helpful to the society, either to the rich or the poor, to the employed or unemployed in one way or the other especially to does who have come across it and if only  the basic concept of bitcoin is being understand and put into practices.

from the look people who is benefiting Bitcoin investment mostly is the Richie's, so automatically Bitcoin has been a supportive measure in all ramifications without exemption, via unemployment, so adult youths today even prefer cryptocurrency business especially bitcoin than manual business because of it profit and upliftment it has render to different societies across the world.

[Oshosondy]

Bitcoin (BTC)has really been helpful, mostly to the unemployed youths, the problem is that most people don't understand how it works, personally I need to be more enlightened.
I'm a newbie.

People still need to have money to buy bitcoin, money is needed. But having bitcoin can be helpful, you can decide to wait for bear market to come and buy.

This is my main advice for beginners. Wait for bear market, buy bitcoin with one quarter of the money you have for it, never mind of the price decreasing, if bitcoin price decreases further, use another one quarter of your money to buy more bitcoin and so on. Recently I am waiting to buy again at $35000, down to $25000. The bull market will come again in a way I will make profit.

As a beginner, do not trade, if you want to trade, learn how to trade very well, do not use the amount of money you can not afford to lose. Trading takes more than it gives from most traders.

[dbc23]

Bitcoin is the financial privacy and security we know today. Although it's privacy can still be compromised in a centralized system but in a completely decentralized nature it gives the user the totality of their right to what ever amount they choose to own.

So far we have had fiat system freezing accounts unjustly but Bitcoin has granted ever man the liberty to own what ever amount and have a full rest of mind provided they private key that guarantees the ownership of the coin is not misplaced, compromised or carelessly handled

[PrivacyG]

This is my main advice for beginners. Wait for bear market, buy bitcoin with one quarter of the money you have for it, never mind of the price decreasing, if bitcoin price decreases further, use another one quarter of your money to buy more bitcoin and so on. Recently I am waiting to buy again at $35000, down to $25000. The bull market will come again in a way I will make profit.

As a beginner, do not trade, if you want to trade, learn how to trade very well, do not use the amount of money you can not afford to lose. Trading takes more than it gives from most traders.

Based off my experience, I can tell it is easier to lower down your average by purchasing every week, including during All Time Highs, than it is by waiting for big drops.  Big drops do not happen all the time and sometimes waiting turns out to be a waste of time and opportunities.  Imagine waiting months long for another drop with $2,500 already invested and $7,500 sitting in the savings piggy all this time while you are waiting for $25,000 which may or may not ever come again.  The moment Bitcoin starts the bull run, you will have missed a huge Bitcoin investment opportunity.  And look at its history.  It appears to be impossible for Bitcoin to drop to the floor again and touch prices like $1,000 per coin.  Once you miss the Bitcoin train, sometimes it never comes back again.

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Regards,
PrivacyG

[Outhue]

People needs Fiat to buy BTC and that's why I believe that Fiat will always be around, many newbies make mistakes of buying all they can at once instead of buying bit by bit because market isn't stable, there is bull and bearish market so buying bit by bit will give you better advantage than buying all in one go.

[examplens]

People needs Fiat to buy BTC and that's why I believe that Fiat will always be around, many newbies make mistakes of buying all they can at once instead of buying bit by bit because market isn't stable, there is bull and bearish market so buying bit by bit will give you better advantage than buying all in one go.

Do you mean Fiat as paper money or Fiat as currency?
Payment cards and electronic payment methods are already widely used (especially in developed countries). it can be considered as fiat money, but it has more features of some altcoin token ^{if we look at everything from the angle of Bitcoin}. We have some numbers in our bank accounts ^{which are also only some numbers}
Also, which market is stable? Do you think only Bitcoin had a bull and bearish period? What do you think about gas and oil prices in the last few days? isn't that the same?

[aysg76]

I think it was hard for people to explain the term bitcoin to others as they were not aware about it but now almost everyone has heard about it through various sources postive or negative.But still understanding it's core level of working is hard until you dive into the learning aspects of it.There are various things related to bitcoin that makes it trust based decentralised currency which is deflationary also like nodes,mining,wallets,keys and other.So if you are keen to learn about them the members have already listed many good sources for you to learn from.I would also suggest reading Mastering Bitcoin by Andreas which is golden piece and can give you enough knowledge about bitcoin that you could explain it to others as well.

5 Resources to teach Average Joe about Bitcoin

Also explore @Ratimov's thread that could give you boost about bitcoin concepts on various aspects.

Based off my experience, I can tell it is easier to lower down your average by purchasing every week, including during All Time Highs, than it is by waiting for big drops.  Big drops do not happen all the time and sometimes waiting turns out to be a waste of time and opportunities.  Imagine waiting months long for another drop with $2,500 already invested and $7,500 sitting in the savings piggy all this time while you are waiting for $25,000 which may or may not ever come again.  The moment Bitcoin starts the bull run, you will have missed a huge Bitcoin investment opportunity.  And look at its history.  It appears to be impossible for Bitcoin to drop to the floor again and touch prices like $1,000 per coin.  Once you miss the Bitcoin train, sometimes it never comes back again.

-
Regards,
PrivacyG

If you have trading knowledge then you can follow different strategies and time out the market to attain maximum benefits but that is not the case with most of newbies and they think investing $100 would become $200 the next day but that's not the case due to many circumstances.The prices are too high and market cap is also high that it will take billion dollar investment just for little pumps.

So as you are saying the best is to follow the DCA method of investment rather than waiting for the prices to dip a little and it has been proven that through this method you can get good benefits and the average price at which you aquire the bitcoins in the long run is way lower than the current one.I habe been doing it for past nine months and it's really good source.

Keep in mind that only bitcoin is the best option to you but the problem is with mindset of people who find it expensive and ignore the fact that they can stack sats also by low investment level also.It is best to make moves on the spot rather than waiting for the boat to come on shore because it might get too late.

[Pmalek]

A great way to learn about Bitcoin is also by watching some of the movies and documentaries which have been released throughout the years. I suggest you take a look at yazher's topic - Blockchain Books, Bitcoin Movies And Documentaries.

I have watched several of those movies under points 1 and 2 and would recommend you to start there.

[Blended@]

Hmmm😁 it help to reduce the high rate of harm rubbers in the societies,it also help serious people to be invest on bitcoin business,and also help people who look for white cooler to invest an even make them to better than people that work in government job,it also hel.p. people to do other kind of business of their choice