Benefit of bitcoin

[minairia3]

Bitcoin brings many benefits, but it will depend on each person's intended use and circumstances. But nothing in this world is perfect, everything has its pros and cons. Therefore, when investing or using bitcoin, we need to take advantage of its advantages and have a reasonable calculation of its disadvantages to avoid harming ourselves.

i think people forget or fail to understand that the underworld has fully adopted crypto. cartels, russian, mob.. their biggest problem wasn't getting contraband into a country, it was getting the cash back home. think of all the headaches.. well those days are long gone. a quick google search will tell you this is an estimated 32 billion dollar market. add sex and extortion and you can probably double it.

If you are suggesting that BTC is the best currency for criminals and money launderers, then you are not correct; take note that BTC transactions are not anonymous and everything is recorded in a public ledger which can be tracked to people's real identities. Money launderers move a lot of money, and they will find it difficult to convert it on crypto exchanges, and even if they do, it will be after series of kyc submissions which will expose their identity, cash is the best option for the "underworld", and not BTC.

What if criminals combine with mixers? Everything will be easier than with cash. Bitcoin is not related to crime, but obviously, criminals would be harder to detect if they used bitcoin instead of fiat.

[Onyeeze]

Bitcoin is an unstoppable technology that has a long term life span that counts across generations and time, this is not the like of technology that could a possible interruption of its development, but between we must have a balanced ground that will lead us to any possible future goals and aspirations that caught across that time.

Are you sure that bitcoin is unstoppable, are sure if bitcoin technology can continue to pass from one generation to another generation, bitcoin is a technology and I can see that technology of bitcoin can be double chances by another technology that deals with finance and appropriately looks like bitcoin, if such technology come to exist, it will take over bitcoin and people will like to test such technology

[Z-tight]

What if criminals combine with mixers? Everything will be easier than with cash. Bitcoin is not related to crime, but obviously, criminals would be harder to detect if they used bitcoin instead of fiat.

BTC being used by criminals for money landering is now a bit of a cliché, the percentage is nothing compared to money laundered with fiat and other means. BTC is a permissionless currency, so surely people would use it for what they want, even crime, but to use BTC to launder money is not easy because you'll have to use mixers, and some of them are centralized, and they keep records of transactions, which they may give to the government if they request it. The government is also seriously cracking down on CoinJoin, all of these, including the BTC public ledger reduces the percentage of money laundering done with BTC compared to other means and currencies.

I can see that technology of bitcoin can be double chances by another technology that deals with finance and appropriately looks like bitcoin, if such technology come to exist, it will take over bitcoin and people will like to test such technology

It may happen a long time into the future, though we are not certain of it, but right now almost all of the altcoins that have been created after BTC have been shitcoins that lack any usefulness.

[CageMabok]

Are you sure that bitcoin is unstoppable, are sure if bitcoin technology can continue to pass from one generation to another generation, bitcoin is a technology and I can see that technology of bitcoin can be double chances by another technology that deals with finance and appropriately looks like bitcoin, if such technology come to exist, it will take over bitcoin and people will like to test such technology

Of the many Bitcoin rivals at the moment, in general they have not been able to stop Bitcoin. So that I personally still have faith that Bitcoin technology cannot be stopped (except by the developer himself) because Bitcoin technology can still be passed down from previous generations to future generations. Even if there is another technology that is very similar to Bitcoin, it means that they may have seen examples of Bitcoin then create new technologies based on existing technologies.

[traderethereum]

Bitcoin is an unstoppable technology that has a long term life span that counts across generations and time, this is not the like of technology that could a possible interruption of its development, but between we must have a balanced ground that will lead us to any possible future goals and aspirations that caught across that time.

Are you sure that bitcoin is unstoppable, are sure if bitcoin technology can continue to pass from one generation to another generation, bitcoin is a technology and I can see that technology of bitcoin can be double chances by another technology that deals with finance and appropriately looks like bitcoin, if such technology come to exist, it will take over bitcoin and people will like to test such technology

For now, bitcoin technology can still run well and no one has been able to stop bitcoin.
But if later in the future, several hundred years later, technology advances, it is possible that bitcoin technology will become obsolete and abandoned. We also don't know what will happen next.
And for now, we still believe bitcoin technology will still dominate crypto and be the crypto leader, so we have to use it to our advantage.
And bitcoin will still be around for a few years to come, maybe for generations to come so it's an advantage for us and the generations after us.

[kryptqnick]

Aside from a possibility to lose money because of making mistakes (such as using a centralized service to store Bitcoin, making a mistake in Bitcoin address to make a transaction, losing access to one's wallet), there's also high volatility of Bitcoin which can be scary to people who are used to fiat currencies or gold which are less volatile. Moreover, let's not forget that while we expect Bitcoin to recover from each bear market, there's no guarantee that it will always do that (or that it'll happen within a reasonable timeframe), so it is possible to lose some money from this investment.

[Aikidoka]

~snip~
BTC being used by criminals for money landering is now a bit of a cliché, the percentage is nothing compared to money laundered with fiat and other means. BTC is a permissionless currency, so surely people would use it for what they want, even crime, but to use BTC to launder money is not easy because you'll have to use mixers, and some of them are centralized, and they keep records of transactions, which they may give to the government if they request it. The government is also seriously cracking down on CoinJoin, all of these, including the BTC public ledger reduces the percentage of money laundering done with BTC compared to other means and currencies.

I agree with that. I believe that the percentage of criminals involved in money laundering is higher with fiat than with Bitcoin. This is because it's relatively harder to launder money using Bitcoin. As you mentioned even with mixers which are mostly centralized they often require users to provide personal documents before proceeding with the money mixing process. In other way, I believe there are other alternatives for using Bitcoin in money laundering.

For example one could purchase Bitcoin with their money on the dark market or through P2P transactions that no one could know about. There may be more alternatives than these, but I haven't searched deeply into the subject.

[petulino]

I think other writers has outlet the benefits of bitcoin and none benefits of bitcoin before, I don't need to praise bitcoin much because its just a technology and anything can interrupts the chances of it prolonging values.

5) I want new people to know that the advantages of bitcoin investment is higher than the disadvantages if you take your investment plans serious.

It is true that Bitcoin is considered to be the most reliable crypto currency in the crypto currency market. There is no doubt that Bitcoin is a digital crypto currency which can also be called technology but this technology has brought many financial benefits to people. Many people still prefer investing in Bitcoin over other investments, and Bitcoin has the largest amount of capital.

Losses in Bitcoin can occur when you have no knowledge of the market and make reckless entries. People who understand the market and invest in Bitcoin at the right time have the least risk of loss. Newbies must understand that investment in Bitcoin is profitable only when you enter Bitcoin at the right time. Just as the entry time should be correct, the exit time should also be correct.

[death69]

This Bitcoin thing is like an easter egg in the labyrinth of the financial world – timing is everything! Gotta have the savvy to cling on or let loose, get me? Bitcoin isn't some mythical cash box endlessly dispensing treasures. Nah, it's an instrument, and just like any other, if you're not wise with it, you're only going to wind up whacking yourself. Not the best feeling, believe me! You're really playing a trump card with those drawbacks you pointed out. It's akin to betting your entire stack in a game of cards on just a whim. Doesn't sound so smart, does it? So, why should one bet everything on Bitcoin without a deep understanding of the playing field? Knowledge – that’s our secret weapon here.

And let me just say, your analogy of Bitcoin being a perpetual headache for lawyers is spot-on! It's the uncharted territory of finance - no lawman around to keep things in check! This is where its allure and challenge lie. It’s not just a game of optimal buying time, but also mastering your exit strategy. Listen up, greenhorns! I need you to grasp one thing – plunging into Bitcoin isn't a shortcut to riches. It's a marathon, not a sprint! You've got to fixate on the big picture, not just a fleeting profit. Think of it as a game of chess, not a round of checkers!

[MarjorieZimmermanGinger]

2) bitcoin have some of disadvantages which we are not supposed have all our hope in bitcoin, sometimes the mistakes of people lossiing in bitcoin investment is as a result of improper explanation and orientation when coming to invest in bitcoin.

The downside is caused by a lack of knowledge in investing and most people who understand the right pattern can avoid unnecessary losses. So it depends on how one can understand how to make the right investment because most people who experience losses are inseparable from their own mistakes.

4) having much benefit in bitcoin is when you know the good time to invest in bitcoin, like sometimes profit in Bitcoin investment is determination by the amount used for invest.

Profits will be proportional to the amount of money you put in, realistically it will follow the amount of capital, but for long term holders they can adjust the purchase at the HOLD level to their advantage. For example, trying to enter the market under any circumstances to buy bitcoin according to the finances you have.

5) I want new people to know that the advantages of bitcoin investment is higher than the disadvantages if you take your investment plans serious.

Understanding market psychology will prevent you from panic caused by ongoing price reactions, so you can minimize the level of chaos that will end in losses. This condition is not understood by most people so they try to cut losses by selling their bitcoins in the Bearish market.

[dewez]

i think people forget or fail to understand that the underworld has fully adopted crypto. cartels, russian, mob.. their biggest problem wasn't getting contraband into a country, it was getting the cash back home. think of all the headaches.. well those days are long gone. a quick google search will tell you this is an estimated 32 billion dollar market. add sex and extortion and you can probably double it.

If you are suggesting that BTC is the best currency for criminals and money launderers, then you are not correct; take note that BTC transactions are not anonymous and everything is recorded in a public ledger which can be tracked to people's real identities. Money launderers move a lot of money, and they will find it difficult to convert it on crypto exchanges, and even if they do, it will be after series of kyc submissions which will expose their identity, cash is the best option for the "underworld", and not BTC.

i disagree. you can certainly buy coins with cash.. new address each buy... and you can certainly sell those coins a week later for diamonds, gold, cash.....or more drugs. if we can all agree on that, then where is the problem for these people? and just to clarify, i didn't say they were getting away with it, i just said they were doing it- and that it's one of the large unseen engines driving market cap.

[posi]

Bitcoin is an unstoppable technology that has a long term life span that counts across generations and time, this is not the like of technology that could a possible interruption of its development, but between we must have a balanced ground that will lead us to any possible future goals and aspirations that caught across that time.

Are you sure that bitcoin is unstoppable, are sure if bitcoin technology can continue to pass from one generation to another generation, bitcoin is a technology and I can see that technology of bitcoin can be double chances by another technology that deals with finance and appropriately looks like bitcoin, if such technology come to exist, it will take over bitcoin and people will like to test such technology

It's understandable that we love bitcoin and always say nice things about it, but there's no need to splurge and exaggerate about it. Honestly, no offense, but it's funny how many people see bitcoin as a god that can solve all problems in the world, and its existence will be eternal while it is only 14 years old.
Bitcoin is a new technology that will replace older things, and the world will continue to evolve, not stop. So nothing lasts forever, and something that will replace bitcoin in the future is possible. I just hope the people who are crazy about bitcoin don't come back to vilify it when something newer and better comes along. Because with what is happening with gold or other assets, people are having bitcoins and trying to smear it all to glorify bitcoin.

[JayTrain]

Bitcoin presents both advantages and disadvantages as an investment. While it offers financial relief and freedom from centralized control, it is crucial to have a proper understanding of its uses and risks. Timing, investment amount, and taking investment plans seriously contribute to maximizing Bitcoin's benefits. New investors should consider the advantages outweigh the disadvantages with careful planning and education.

[Bananington]

5) I want new people to know that the advantages of bitcoin investment is higher than the disadvantages if you take your investment plans serious.

Some people consider the advantage and disadvantage something has for them before they decide to either use it or not. With Bitcoins, there are advantages and disadvantages, but like you have emphasized, the advantages of bitcoins are more than the disadvantages. Even with the many advantages, it will still be rejected by some people because they never really try to find out this advantages of bitcoins, some know the advantages but do not just see it as important.

[Ataiwo913]

I think other writers has outlet the benefits of bitcoin and none benefits of bitcoin before, I don't need to praise bitcoin much because its just a technology and anything can interrupts the chances of it prolonging values.
1) From what I have observed  in bitcoin its a financial relief when you know the secrets behind the uses of bitcoin and some of the investment.
2) bitcoin have some of disadvantages which we are not supposed have all our hope in bitcoin, sometimes the mistakes of people lossiing in bitcoin investment is as a result of improper explanation and orientation when coming to invest in bitcoin.
3) bitcoin is like a life bencher for lawyers, why in financial aspects bitcoin is a freedom it doesn't have who control it.
4) having much benefit in bitcoin is when you know the good time to invest in bitcoin, like sometimes profit in Bitcoin investment is determination by the amount used for invest.
5) I want new people to know that the advantages of bitcoin investment is higher than the disadvantages if you take your investment plans serious.

Point 4 is totally subjective because as far as I'm concerned, there's no point in waiting for the price of Bitcoin to go higher to make a good profit.  There are 2 types of Bitcoin investors the one waiting for the gain and the one waiting to pay in sats.

Bitcoin has several potential benefits as a digital currency and investment asset. Here are some of the main benefits:

1. Decentralization: Bitcoin is a decentralized currency that operates independently of any government or financial institution. This means that it is not subject to the same restrictions and regulations as traditional financial systems.

2. Security: Bitcoin uses advanced cryptographic techniques to secure transactions and prevent fraud. Transactions are verified by a decentralized network of computers, making it difficult for any individual or organization to manipulate the system.

3. Transparency: All Bitcoin transactions are recorded on a public ledger called the blockchain. This provides transparency and allows anyone to view transaction history and balances.

4. Low transaction fees: Bitcoin transactions typically have lower fees compared to traditional financial systems, making it an attractive option for international transactions.

5. Potential for high returns: Bitcoin has seen significant price increases over the years, which has led to high returns for early investors. However, it is important to note that Bitcoin's value is highly volatile and investing in it carries significant risk.

Overall, Bitcoin has the potential to offer a decentralized, secure, transparent, and potentially profitable alternative to traditional financial systems. However, it is important to carefully consider the risks and benefits before investing in Bitcoin or any other digital asset.

[dewez]

nice copy and paste.

[KingsDen]

Bitcoin presents both advantages and disadvantages as an investment. While it offers financial relief and freedom from centralized control, it is crucial to have a proper understanding of its uses and risks. Timing, investment amount, and taking investment plans seriously contribute to maximizing Bitcoin's benefits. New investors should consider the advantages outweigh the disadvantages with careful planning and education.

Poor knowledge of the bitcoin investment while venturing into it is one of the reasons the disadvantages of bitcoin tends to measure in the same scale with it's advantages.
Apart from the volatility and the open and accessible blockchain which reduces privacy, bitcoin is an investment assets with alot of advantages.
Even the volatility of bitcoin is more of an advantage than disadvantage. Just that newbies who know nothing about bitcoin will rush into the market at the apex of the bull run and when the market crashes on them, they will complain about the disadvantages of bitcoin.

[loopes]

I think other writers has outlet the benefits of bitcoin and none benefits of bitcoin before, I don't need to praise bitcoin much because its just a technology and anything can interrupts the chances of it prolonging values.

Anything like what?
Government?
People?
Centralized Institutions?
Hack?
Scam?

As far as am concerned, nothing can stop the progress of bitcoin, not even the government, as far as bitcoin network still maintain the same protocols it works by on the blockchain.

But what if majority of governments suddenly restrict the use of bitcoin?  it will affect bad condition to the bitcoin. just 1 country that restrict bitcoin will make this volatile price move down, more over if majority of government do that at the same time. But in other hand, i believe that bitcoin always have its way to stand after going down because of many things, like the power of bitcoin community that is very huge if they band together they will support bitcoin to stand back.

[crunck]

Bitcoin is an unstoppable technology that has a long term life span that counts across generations and time, this is not the like of technology that could a possible interruption of its development, but between we must have a balanced ground that will lead us to any possible future goals and aspirations that caught across that time.

Are you sure that bitcoin is unstoppable, are sure if bitcoin technology can continue to pass from one generation to another generation, bitcoin is a technology and I can see that technology of bitcoin can be double chances by another technology that deals with finance and appropriately looks like bitcoin, if such technology come to exist, it will take over bitcoin and people will like to test such technology

He is a bitcoin maximalist, but what he says shows he knows nothing about it. What he said is sentimental, there is no any basis for his statement. Bitcoin is good, but it is not perfect as you say, it is also a man made product and will have pros and cons. It brings us great benefits, many people change their lives thanks to it. That's great, but many people can still get rich without it. So live in reality, don't live in illusions.

[bayu7adi]

But what if majority of governments suddenly restrict the use of bitcoin?  it will affect bad condition to the bitcoin. just 1 country that restrict bitcoin will make this volatile price move down, more over if majority of government do that at the same time.

Are you implying it is China? A country full of jokes that merely seeks to exploit its position as a global power. They release unfavorable policies regarding Bitcoin to induce panic among retail traders, only to later unveil contradictory policies that leave many regretting their decision to sell their Bitcoin. This means that China is truly manipulating the emotions of the crypto community.

And if other countries begin to ban it, just wait for some time, and they will eventually introduce policies in the opposite direction.

Bitcoin is the first digital asset to adopt Blockchain technology, rendering it sovereign and beyond the control of any authority. Even if a particular country prohibits its usage, individuals can still possess it.