Bitcoin Forever

[tbct_mt2]

Irrespective of what works best. Bitcoin as a deflationary asset is still a major concern.

Do you concern yourself that why Bitcoin is a deflationary asset?

Bitcoin is not deflationary but it is actually inflationary. Each 10 minutes, new bitcoins will be created from each new mined block. How many bitcoins will be created by each block depends on block reward at that era. After 210,000 blocks, a new era will come by a new block reward halving.

Calling Bitcoin as a deflationary asset is a lie to attract more people.

Controlled supply

The chart shows its inflation vs time.

[Frankolala]

  Bitcoin is something so extraordinary and beautiful that it managed to break the entire traditional system without turning back, it managed to remodel and change the whole human perception about capital.

Not yet,few people uses bitcoin compared to fiat currency. Presently,in all type of currency fiat is king because it is controlled by the government. The government controls the economy of a country. Bitcoin is an underground king which the government knows and they will do everything for bitcoin not to dethrone fiat.

My point is that bitcoin is new and fiat has been in existence for a long time,for this season fiat still remains the most used or governments will force its citizens to use CBDC and not bitcoin. Bitcoin is an alternative currency and will only be used by its lovers.

[Tony116]

Well just as other users have also said earlier, Bitcoin isn't get a legal tender and until it is declared a global legal, I think people should minimize how much praise they sign of crypto and also try as much as possible to also educate people as well in the dangers possession of Bitcoin can cause due to it's very volatile nature.

This is true, some people think it just as easy investment that you will gain profit in just putting your assets in Bitcoin. People should have proper knowledge about how volatile bitcoin that it changes its value from time to time. However, it still deserve a praise as it gives a lot of opportunity to people which we can see here in forums. Also having bitcoin as your assets couldn't be a danger if you're not selling. Hodling can even cost more for your profit in a long period of time so I don't consider it dangerous I consider it as treasure that you are holding. Never be afraid to hold and buy and dump so once bitcoin pumped get your profit.

Bitcoin deserves praise but need not be exaggerated to the point of sometimes being untrue. I'd rather talk about the volatility and risk of investing in bitcoin than flatter it. If a newbie all day only hears about the miracle stories of bitcoin without knowing the price to pay when investing in bitcoin, it will only harm them.

Holding bitcoins still has some dangers, bitcoin has existed and developed for more than 14 years, but so far, it has not been fully accepted or legalized globally. That means it's still risky, and we have no evidence that it will last for the next 14 years. Invest with money you can lose, don't forget this saying.

[Lucius]

That's a good point, anything that the government suggests to use, then we would use it anyway. Actually bitcoin is as easy as CBDC to understand, even easier, especially for young people which they have more knowledge about recent technologies and could access any info they want, while the older people prefer to have same side with the government, no matter if the effect of the policies is good or bad for them.

I already wrote that I do not agree that we should put CBDC and Bitcoin in the same category of complexity, because digital fiat is nothing more than a visual display of one's funds in a government application - there are no fees, transactions are instant and there is no need to think too much. In addition, when the time comes for digital euros or US dollars, you will be able to pay with them anywhere, with Bitcoin this will probably never be the case.

India and Russia are trying to implement CBDC because they didn't want to consider crypto as a legal thing in the first place, and CBDC is their newest way to make their people get rid of that.

Obsessive control of people and their actions in order to control the masses results in the fact that the CBDC starts from countries that have a deeply indoctrinated population, just as is the case with China and Russia. If you can sell a nation the story that Nazism is back and that they must go and liberate Europe, as was the case in World War II - then you can sell them anything, let alone digital fiat.

[Bananington]

Today, knowing both worlds, it is the only currency that I trust, it is the only system that I trust and I will dedicate my life to carry this forward. Bitcoin forever.

They say you have a good idea about something when you have had a first hand experience of that thing and what it is. Due to your experience of both worlds, you have a very good idea and know the benefits that bitcoins has over the traditional system, and based on your experience also in both fields, you will be more convincing whenever you find yourself in a discussion that involves people finding it difficult to believe and agree that bitcoins indeed have benefits over the regular traditional system.

[hZti]

Bitcoin is not deflationary but it is actually inflationary. Each 10 minutes, new bitcoins will be created from each new mined block. How many bitcoins will be created by each block depends on block reward at that era. After 210,000 blocks, a new era will come by a new block reward halving.

Calling Bitcoin as a deflationary asset is a lie to attract more people.

Controlled supply

The chart shows its inflation vs time.

Bitcoin is deflationary, since more and more people are introduced into bitcoin every day. Since the rate of bitcoin creation will sooner or later return to zero, we will have a massive deflation. Also you need to consider that day by day bitcoins are lost forever, which is a problem that to this day is not solved.

[rokok lokal]

Today, I can affirm that, although it may be clear to many people, the traditional system is weak and flawed, it doesn't work and will suffer crashes from time to time, but it is a system that those in charge have found, governments have found to be able to control people and their capital.

If I digest your statement, this implies that the traditional system, which presumably refers to the current economic and political system, is flawed and ineffective, and prone to failure and collapse. However, it is important to note that there are varying opinions on this matter, and many people may have different perspectives on the effectiveness of traditional systems.

[panganib999]

Congrats on stepping over and creating your first post! You'll find that the forum isn't only about bitcoin, but about a lot of stuff that encompass multiple aspects of life too. Find a board that resonates with you and maybe go ham with it! In any case...

I think you're right for the most part, the fact that the governments do have control over the financial system and even the stock market in certain scenarios is a little concerning. But at the same time. as much as bitcoin is hoping to break this system and impose its own liberated form of investment and financial system, we still haven't gone to that phase yet, as many have pointed out. There's still ways to go and changes to be made before bitcoin could break the current financial system, but we're getting there!

[The Cryptovator]

In my opinion, Bitcoin is unlikely to disrupt the traditional financial system. This is due to the fact that the traditional financial system is supported by centralized governments, whereas Bitcoin is supported by its community. Governments are unlikely to relinquish their control over the financial system and adopt Bitcoin. Although Bitcoin is based on modern technology, its decentralized nature has made it challenging to achieve widespread adoption globally. Although some governments have accepted Bitcoin, they are not willing to cede control to it. Therefore, they continue to rely on the traditional financial system instead of embracing Bitcoin.

[jayce]

CBDCs are tools for governments to control their citizens and their cash flows better. Using CBDCs, privacy is gone but I think many people don't mind about privacy. They will have no issue to use CBDCs and some others will continue to use fiat currencies, Bitcoin & cryptocurrency and CBDCs for their lives. They have no problem to co-use those currencies.

Yeah and actually, if there is no bitcoin at all, we perhaps wouldn't care about our privacy and use anything the governments order us to do so. Thanks to satoshi, now we are fully aware about how important our privacy is, and the other benefits we get by using bitcoin like the less fee for money transaction, and the shorter delivery time to send money worldwide.

I already wrote that I do not agree that we should put CBDC and Bitcoin in the same category of complexity, because digital fiat is nothing more than a visual display of one's funds in a government application - there are no fees, transactions are instant and there is no need to think too much. In addition, when the time comes for digital euros or US dollars, you will be able to pay with them anywhere, with Bitcoin this will probably never be the case.

Well yeah that's the truth, digital fiat is just a normal fiat in virtual version, and claimed by the governments as the easier transaction tools, which in fact, the real value of that is our privacy, where they could monitor our transactions easier and more efficient.

[Ryu_Ar1]

welcome to the club mate
pretty good exposure but the problem for now remains we can't ignore the fiat. regardless of how good bitcoin is, we still won't be able to leave it, especially in countries that are still in that system.
Being in bitcoin will indeed be very good but fiat also needs to be there for our lives, even though we don't really do anything big there but when we support our daily needs then we need fiat for that.

[Odusko]

Welcome to the club, but then I will like you to know that there is a big difference between being a financial agent and a financial analyst and at that you may need the latter to aid your success in your newfound love of Bitcoin.
And also while you are at that, you should take time to study the interconnectedness of the decentralized financial system and the traditional financial system since you are dealing with global assets as an investor.

[Fivestar4everMVP]

First and foremost, I would like to welcome you to this forum, and I hope you stay active here to share more of your knowledge with the financial market with us here.

Bitcoin have indeed changed the narrative, Bitcoin have given hope to the hopeless and freedom to the captive, it is left for people to accept it, fiat has failed us several times, and will continue to fail as long as it is been controlled by a set of untrustworthy individuals, Bitcoin is a better option and i cant wait for the time when bitcoin payments will become fully integrated into our payment systems.

[$crypto$]

Today, knowing both worlds, it is the only currency that I trust, it is the only system that I trust and I will dedicate my life to carry this forward. Bitcoin forever.

But you're still need to use fiat because you can't use Bitcoin to pay anything in your country, so you're still trusting fiat even you're not use it as to store your wealth. We might see a big change when CBDC has been launched by the government, it's either they will ban Bitcoin or they still consider to accept it. But you can still use Bitcoin since there's a way to trade Bitcoin without need a permission from centralized entity, as long as you not make any mistake.

Fiat will not be replaced as currency while bitcoin is only a reserve where they can choose that option, even if we want bitcoin as payment but we cannot refuse fiat it is a very important need for us in our own country.
There are changes later to the CBDC but the government still has control over it whereas there is no prohibition for bitcoin it's just that it's a commodity asset and won't be completely legal in a certain country, so even though we believe in bitcoin in the future I think fiat is still not replaced.

[tygeade]

Bitcoin deserves praise but need not be exaggerated to the point of sometimes being untrue. I'd rather talk about the volatility and risk of investing in bitcoin than flatter it. If a newbie all day only hears about the miracle stories of bitcoin without knowing the price to pay when investing in bitcoin, it will only harm them.

Holding bitcoins still has some dangers, bitcoin has existed and developed for more than 14 years, but so far, it has not been fully accepted or legalized globally. That means it's still risky, and we have no evidence that it will last for the next 14 years. Invest with money you can lose, don't forget this saying.

The issue where people tend to talk like bitcoin has no issues or bitcoin is so amazing, comes from the fact that fiat has so many issues that the issues in bitcoin looks too small for some people.

I am not saying that's true, there is a reality that we are not talking about bitcoins shortcomings as well and it's true that there are some stuff that could get better, like miners potentially having too much power, or maybe the fee, or maybe some other thing, volatility is definitely a big one. However, when you compare all of the problems of bitcoin in the past 15 years since it was just a concept, I can say that a single day in fiat could still be worse than all of it combined.

[tbct_mt2]

Bitcoin is deflationary, since more and more people are introduced into bitcoin every day. Since the rate of bitcoin creation will sooner or later return to zero, we will have a massive deflation. Also you need to consider that day by day bitcoins are lost forever, which is a problem that to this day is not solved.

Technically its production rate only hits zero in 2140 that surely not too soon. We can say about when it happen, in what year, not sooner or later.

The chart does not tell me anything that Bitcoin is deflationary. Deflation definition. I disagree if we only want to call Bitcoin is deflationary because of past and future lost bitcoins from careless people and because of its lower production rate in future as effects from its future halving.

Block rewards will become less and less but it is still inflationary.

Yeah and actually, if there is no bitcoin at all, we perhaps wouldn't care about our privacy and use anything the governments order us to do so. Thanks to satoshi, now we are fully aware about how important our privacy is, and the other benefits we get by using bitcoin like the less fee for money transaction, and the shorter delivery time to send money worldwide.

People should give rounds of applause to Satoshi Nakamoto for the creation of Bitcoin that changed the world. There are some development efforts before Bitcoin but Bitcoin is a first cryptocurrency which revolutionize transactions between people.

Bitcoin prehistory

[Ayers]

In my opinion, Bitcoin is unlikely to disrupt the traditional financial system. This is due to the fact that the traditional financial system is supported by centralized governments, whereas Bitcoin is supported by its community. Governments are unlikely to relinquish their control over the financial system and adopt Bitcoin. Although Bitcoin is based on modern technology, its decentralized nature has made it challenging to achieve widespread adoption globally. Although some governments have accepted Bitcoin, they are not willing to cede control to it. Therefore, they continue to rely on the traditional financial system instead of embracing Bitcoin.

I will agree with you, even though we are bitcoin investors and we all want bitcoin to win and replace fiat in the future. But we need to admit and accept the fact that it will be very unlikely and may never happen. As long as the government controls us, there cannot be a decentralized system to lead and manage this world. Assuming I was the government, I would also find a way to stop bitcoin at all costs, simply because it's not in my favor. It's good but it doesn't benefit us but only benefits others, we will never need it, that's what the government is thinking.

[livingfree]

Welcome!

We all got the same thoughts about bitcoin and that's why we're all here and staying because we all share the same idea and vision about bitcoin. And the issues that the banks, traditional systems and the same in their sector is showing the flaws that they've got.

It is giving the highlights for bitcoin and soon more people will understand why many advocates of bitcoin have been telling this for a long time that, they should buy bitcoin.

[Bitcoin_people]

Snip ~

This is true, some people think it just as easy investment that you will gain profit in just putting your assets in Bitcoin. People should have proper knowledge about how volatile bitcoin that it changes its value from time to time. However, it still deserve a praise as it gives a lot of opportunity to people which we can see here in forums. Also having bitcoin as your assets couldn't be a danger if you're not selling. Hodling can even cost more for your profit in a long period of time so I don't consider it dangerous I consider it as treasure that you are holding. Never be afraid to hold and buy and dump so once bitcoin pumped get your profit.

You are right but there are some investors who think they are putting their money at risk by investing. However, if his wealth is invested in Bitcoin, then he must be patient because investing in Bitcoin should never be disappointing, it is necessary to have hope. But people can earn a lot of profit by investing. But it is true that the mark can be down at any time and sometimes it can be absolutely pumped. It should be accepted and invested and Bitcoin investment should never be volatile then it will definitely be profitable in future.

[maydna]

Welcome to this forum and feel free to learn various things about crypto.

I don't imagine that bitcoin will replace fiat because, until now, few countries have allowed using bitcoin as a legal currency. So I guess people are also still using fiat as a payment system while using bitcoin as their investment. And even though there may be high inflation, the government will not give up its fiat and switch to bitcoin because they will maintain and try to stabilize the economy.

So for now, we can use bitcoin as an investment first and it is the right choice for you because you can already see the potential of bitcoin, which can benefit you.