Promoting bitcoin besides the profit making idea.

[letteredhub]

To every products and services there's one or two widespread idea about it that is well championed among the public about it. Expect for a few persons in the crowd that have an expansive plethora knowledge of the importance, usages, and benefits that such product holds beyond just what meets the eyes.

so therefore, taking bitcoin into the picture, very much can be achieved beyond the fair idea that the currency is a source of profit making if held for longer period based on an increase in value it holds. just a way to broaden our horizon about bitcoin chiefly for the benefits of we the newbies that actually don't have so much to say about bitcoin finding ourselves in a position or condition that seek our exaltation about the currency beyond just describing it as a store of value if a person could invest and hold for longer term.

So I thought I should raise the question for the benefits of many others like me, perhaps, I don't know if such thread has been made in the past.

what more other convincible informative characteristics and benefits  can you give out to someone who has no idea about bitcoin besides the wide established knowledge that it is a digital currency that should you invest in for long you're going to be profitable or get rich by credit of a bull run?

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[hugeblack]

The basic idea of ​​Bitcoin is to break the need to trust a third party to transfer money to you, and these things will only be known to someone who was in a country with economic problems. Venezuela and Lebanon^[1], for example, are countries where individuals are not able to withdraw their money from the bank, and there are restrictions on withdrawals. We can draw on the recent bank crisis in the United States^[2], which made the Federal Insurance Corporation insure deposits of depositors below a certain level.
These topics apply directly because do not trust the bank.

Also, if we take what happened in Iran, Russia and some countries that have imposed a ban on financial transfers, Bitcoin is decentralized so that you can send money anywhere in the world with fees close to zero.

All of these are convincing and logical reasons and arguments that can be inferred to define Bitcoin more than the partial price or that it is an investment that will achieve a return quickly and profitably.



[1] Lebanese cannot access money in banks since late 2019
[2] 2023 banking crisis

[Nwada001]

what more other convincible informative characteristics and benefits  can you give out to someone who has no idea about bitcoin besides the wide established knowledge that it is a digital currency that should you invest in for long you're going to be profitable or get rich by credit of a bull run?

First, I don't make promises, or will I say I don't tell people that they can ever get rich with the help of Bitcoin when they were never Rich before they started dealing with Bitcoin? I always tell anyone who asks me how Bitcoin profit works that, to some point, I tell them that Bitcoin has past its 10x season and that there are no expectations of a 10-100x bull run in the coming days, weeks, and years. We should reduce our expectations in order not to get disappointed. Although there are also higher possibilities since Bitcoin price movements can't always be perfectly predicted,
 
 
Aside from Bitcoin being used as a means of investment with a possible ROI, I do tell people that it gives them freedom over their wealth, like total control of your funds, where you can use them whenever, wherever, and send them to whomever without seeking anyone's permission. Its seamless nature is one of the things I like the most about it; there is no limit to the amount that could be transacted at a time.

[Jawhead999]

If someone want to hide and keep secret of his wealth from anyone else, Bitcoin can be an option since you can buy Bitcoin via decentralized exchange and use mixer to increase your privacy

If someone have an active online marketplace and accept all countries, Bitcoin can be an option because Bitcoin is a currency and borderless transaction.

I don't think there's any other good reasons except two above I mentioned, the decentralization, security etc are just additional advantages.

[sunsilk]

I have been there and done that but I would avoid talks like this in person. It's because people are hard to convince so if you're going to convince them, you really have patience and enticing to them.

Let us say that I'm able to say everything that I know about Bitcoin and the person that I am talking to isn't convince with what I've said with stuff, decentralization, volatility, halving, etc.

I'll just let them think of what they think with all of those factors that I have said and I wouldn't be pushy to them. That's not the goal, as long as I am able to speak and introduce them a bit on it, it's up to them whether they'll dive or not.

[Faisal2202]

Many topics have been made on the same query you are asking here. Which is basically the features of BTC but your query needs different answers, because most of the previous threads point out the features which basically tell you why BTC is a good source of storing value. Here are some benefits came to my mind:

• BTC is decentralized which provides you full anonymity to remain hidden from centralized organization, which uses your transactional data to show different advertisements to you.
• BTC is a best source of sending money from one place to another place without the help of some middlemen who will charge you huge tax and feel. Like if you want to send money from foreign country to yours then you have to pay taxes and feel too but if you use BTC to send your money across different countries you will only be charged around 2$ for sending. Biggest example is El-Salvador country, there authorities has made one of the many statement that we are preferring it for legal tender because sending and receiving money through BTC becomes easy.

  but they have to pay high transaction costs, and 70 per cent of people have no bank account. Bitcoin enables quick, cheap payments across borders, and doesn’t require banks.

   
• BTC could be used to remove corruption from the system, because every transaction will be recorded.
• BTC saves your money from different bankruptcies of banks which could become a problem one a bank bankrupted you will not be able to send or receive money didn't  withdrawal become impossible until system return to there normal functioning but that not happen in BTC which indicates 100% availability.
• BTC provide exceptional security which is not guaranteed by every bank in most of the places on globe.

List is so long, but I would like to end it here. I hope it would helped you,

[adzino]

Yeah, I think we shouldn't be promoting bitcoin as a "profit" making scheme, rather a currency that can be used globally without any third party being involved. But sadly most people associate bitcoin as an "asset" that they can invest in to make profit in the future. This destroys the whole purpose of bitcoin being a decentralized currency that will make people less dependent on centralized financial institution where individual people has no say in making any decisions, nor any freedom on how to use their money. But we can't blame people for using it as a long term investment opportunity due to some drawbacks that make bitcoin sometimes unusable as a day to day currency.

[Z-tight]

BTC is decentralized which provides you full anonymity to remain hidden from centralized organization,

BTC network is decentralized, but BTC transactions are not anonymous, it is all recorded in the blockchain for anyone to see, BTC tx's are pseudonymous, that means you can keep your real identity if you protect your privacy well.

Like if you want to send money from foreign country to yours then you have to pay taxes and feel too but if you use BTC to send your money across different countries you will only be charged around 2$ for sending

BTC tx fee isn't fixed and shouldn't even be discussed in fiat or any other currencies, but in sats and the fee rate in sats/vByte, the amount that a person would pay in tx fee cannot be known until you know what the size of the tx is, the wallet address they use and how congested the network is at the time of broadcasting.

BTC saves your money from different bankruptcies of banks which could become a problem one a bank bankrupted you will not be able to send or receive money didn't  withdrawal become impossible until system return to there normal functioning but that not happen in BTC which indicates 100% availability.

That is only if the bitcoiner uses a self custody wallet, bitcoiners that keep their BTC's in exchanges and in lending and earning platforms can have their funds confiscated, or lose it if the platform bites the dust.

BTC provide exceptional security which is not guaranteed by every bank in most of the places on globe.

It also depends more on your own personal operational security.

[PX-Z]

Usually, only few appreciates the technology and the purpose of bitcoin which is this...

is to break the need to trust a third party to transfer money to you..

But practically, more people only like bitcoin because of it's monetary value and the fact that you might become millionaire after a year or 2 just holding it. But sometimes after these kind of people learn how to earn bitcoin, usually becomes interested on the technology behind and becomes influencers and having advocacy of spreading the knowledge in different platform they have.

[SatoPrincess]

I do not like when people introduce others to Bitcoin as a means to make your dreams come through, but unfortunately that’s the most popular way to get people to get into Bitcoin. The idea of a digital system that allows you to make p2p transactions isn’t as enticing and captivating as “you can become a millionaire if you buy bitcoin and hodl for a year”. It’s not surprising that there are more searches of bitcoin and crypto groups on the net when bitcoins price is rising, a lot of people are primarily in it for the profit and they wouldn’t care less for the tech if there was no profit to be made. 

[cabron]

It's more advantageous to tell it to someone who has no bank account. Bitcoin suits well for those guys all they need is a wallet and yet it acts like a bank account for them. Teens are going to like this idea after all they can't get a bank account but with BTC, it's the equivalent of having one.

I told that to my niece who works at a grocery store and it seem to have convinced him to buy some BTC from me. I did give him a discount of course.

[Sim_card]

There is nothing much to tell someone who is newly been introduced to bitcoin that you have mentioned on your post OP. Tell them more about the financial freedom it gives to its users and it is used for transaction beyond boarders without an interim or third party. You should also tell the about the high volatile nature of bitcoin and the risk involved in bitcoin investment. Don't forget that if you don't keep your bitcoin safe it can be stolen by hackers and a noncustodial wallet should be used for storing bitcoin. Advice newbies to invest in long term so that they can enjoy the profit from their investment.

[Hamza2424]

Your topic seems to be very common for the fundamental characteristics people can search it on the internet as we cant repeat daily Decentralization, Scalibilty, P2P, Self Cutody, Security, and POW bla bla bla besides that there is something I would like to say partially related to the outcome fo the topic.


I have seen a lot of people searching for opportunities, especially the teens and students who are more interested in making some extra money but points they don't have their own investment. So they even cant force their parents to invest in such a risky market. The Alpha generation wants to explore financial freedom and they looking at BTC BTC. I would advise those who know about Bitcoin and its fundamentals and have any type of small skill they should provide services and then invest that money into the market which will guarantee your safe future from a financial view.

This is the way how youngsters like me can stay close to technology and the financial world without disturbing their ongoing financial circle. Besides that, if you know any type of investor who invests his money in different assets you should guide him to pay some attention to Bitcoin this way you can guide him and bring some capital to market which will be ultimately your own profit.

See my poll https://bitcointalk.org/index.php?action=profile;u=3563759;sa=showPosts

Hmm, wrong link and you should not post like this it will be counted as spam. I have checked your profile nothing there please generate some good content otherwise you'll face the consequences also there is no poll on your profile right now.

[Cricktor]

By glimpsing over this thread, I have a few points to raise:

• Why do you want or need to promote Bitcoin? What's your motive to do so?
• What's the benefit for all if more people know and care about Bitcoin?
• What would need to be done to allow the onboarding of masses? Is it even possible?
• I claim, Bitcoin in its current stage of evolution isn't for the masses. Therefore why should we promote it despite making profit from raised demand?

[Faisal2202]

BTC network is decentralized, but BTC transactions are not anonymous, it is all recorded in the blockchain for anyone to see, BTC tx's are pseudonymous, that means you can keep your real identity if you protect your privacy well.

Thanks for shedding more light on all of my points, as it would help the OP more in understanding this topic. i would like to add few point on here too, like you are right, no centralized body could identify your personal life until you connect your personal life with crypto sphere. Like i also created a topic on this about people does not really care about decentralization. And you said BTC transactions are not anonymous and i also did not said that. i meant to say the same as you said after it.

BTC tx fee isn't fixed and shouldn't even be discussed in fiat or any other currencies, but in sats and the fee rate in sats/vByte, the amount that a person would pay in tx fee cannot be known until you know what the size of the tx is, the wallet address they use and how congested the network is at the time of broadcasting.

Totally agreed, but to be honest, network congestion (like the last one due to ordinals) is very rare, because these events are rare and occur oftenly, plus there have been many threads created on the issue of fee by many marketer and shopkeepers, who faced issues of fee. But i think fee is not that much minimum fee may vary from 2$ to 5$ maximum. And TBH size of the amount do not matter here. even if you are doing a transaction of million dollar fee remains the same.

That is only if the bitcoiner uses a self custody wallet, bitcoiners that keep their BTC's in exchanges and in lending and earning platforms can have their funds confiscated, or lose it if the platform bites the dust.

self custody wallet no doubt a best option and we should also keep the open and close source factor in mind too.  I totally agreed with your exchange point. Like FTX exchange and the recent hacking attempt of atomic wallet.

[thecodebear]

To every products and services there's one or two widespread idea about it that is well championed among the public about it. Expect for a few persons in the crowd that have an expansive plethora knowledge of the importance, usages, and benefits that such product holds beyond just what meets the eyes.

so therefore, taking bitcoin into the picture, very much can be achieved beyond the fair idea that the currency is a source of profit making if held for longer period based on an increase in value it holds. just a way to broaden our horizon about bitcoin chiefly for the benefits of we the newbies that actually don't have so much to say about bitcoin finding ourselves in a position or condition that seek our exaltation about the currency beyond just describing it as a store of value if a person could invest and hold for longer term.

So I thought I should raise the question for the benefits of many others like me, perhaps, I don't know if such thread has been made in the past.

what more other convincible informative characteristics and benefits  can you give out to someone who has no idea about bitcoin besides the wide established knowledge that it is a digital currency that should you invest in for long you're going to be profitable or get rich by credit of a bull run?

1. Bitcoin is useful in countries with very weak currencies because it is a hard currency.
2. Bitcoin is useful in areas of the world where people are unbanked because it allows digital payments without the need for banks.
3. Bitcoin is useful for long term storage of wealth because you can bank yourself so it's like storing a chest of gold that nobody can ever find (note here I'm specifically talking about storing of wealth, not appreciation of wealth, since you want answers that don't have to do with appreciation of value).
4. Bitcoin is useful for people fleeing or migrating out of countries because it means they can store they money in bitcoin safely and still have it when they arrive in their destination country and not have their money trapped in their country of origin.
5. Related to #2, Bitcoin is useful in places where specific groups of people (like women) aren't allowed access to banks and financial services.
6. Bitcoin allows the cheap transfer of money which gets around the expensive fees of remittances when people send money back to their families who live in poorer countries.
7. For merchants, Bitcoin allows use of digital money without the ~3% credit card fees (using LN obviously rather than on-chain).
8. Specifically for bitcoin mining, not bitcoin the currency, Bitcoin mining solves a lot of energy (as well as some heat) related problems in the world.


I'm sure there are more but that's what I can think of off the top of my head.

[Fiatless]

So I thought I should raise the question for the benefits of many others like me, perhaps, I don't know if such thread has been made in the past.

what more other convincible informative characteristics and benefits  can you give out to someone who has no idea about bitcoin besides the wide established knowledge that it is a digital currency that should you invest in for long you're going to be profitable or get rich by credit of a bull run?

Bitcoin can be used as a hedge against inflation. Many countries' currencies are losing value every day and Bitcoin has been stable for some time now. So keeping fiat in the bank can make the money worthless within a few years.

Bitcoin can help nations and individuals to invade sanctions and government restrictions. Most nations that have been sanctioned by some banks or countries can use bitcoin to carry out business and other transactions. In some countries, the government is implementing strict banking control that citizens have limits to their banking transactions. This has led to untold hardship because some businesses and individuals have to resort to illegal channels of accessing needed funds. But Bitcoin breaks such a barrier.

Before the congestion of the Bitcoin mempool, bitcoin transaction fees were cheaper than most bank transfers. So when the transaction price normalizes, bitcoin transaction fees will still be more competitive.

Apart from keeping Bitcoin until the price appreciates might not be the only intention of every Bitcoin holders. Some people don't want the state, organization, or individuals to know how much they are worth, so they decide to hide their wealth using Bitcoin.

[Hamza2424]

Totally agreed, but to be honest, network congestion (like the last one due to ordinals) is very rare, because these events are rare and occur oftenly, plus there have been many threads created on the issue of fee by many marketer and shopkeepers, who faced issues of fee. But i think fee is not that much minimum fee may vary from 2$ to 5$ maximum. And TBH size of the amount do not matter here. even if you are doing a transaction of million dollar fee remains the same.

Whether it's rare or not the problem exists, My view is also with the core community Ordinals have no place on the blockchain especially on Bitcoin because it was not the purpose but, Problem is still here because if I don't want to drink mango shake it doesn't mean other also don't want. Miners seem to be more greedy they are preparing well because, in the last congestion, miners got enormous rewards on the transaction fees even more than the block rewards.

1$ 2$ hmm, is a big problem because the transaction for the day-to-day products will be in Satoshis and it can vary from 0.5$ to 100$ of referring the 0.00005 BTC to 0.001 BTC and even to 1 BTC or 100BTC. So a person who is buying the product of 0.0001BTC is not ready to pay the fees varying from 0.0001BTC to 0.0003BTC and even more if the network is busy. For the proper mode of payment there we can't be dependent on that many fees even though we already have alternatives.

If I am getting my monthly salary in the BTC and I am sending the monthly expenditures to my family and for the rest of transactions above 0.002BTC I won't mind paying the fees but for the products like 1KG sugar and all that stuff, I can't afford the fee. In my view, this is the biggest limitation of Bitcoin being the universal currency. (Well this a matter of the future for now things are on Ok Ok level.)

[Victorik]

The fact is that there are tons of information flying around in the internet about Bitcoin. A simple search on Google will reveal so much benefits about Bitcoin, besides profit making.

[m2017]

To every products and services there's one or two widespread idea about it that is well championed among the public about it. Expect for a few persons in the crowd that have an expansive plethora knowledge of the importance, usages, and benefits that such product holds beyond just what meets the eyes.

so therefore, taking bitcoin into the picture, very much can be achieved beyond the fair idea that the currency is a source of profit making if held for longer period based on an increase in value it holds. just a way to broaden our horizon about bitcoin chiefly for the benefits of we the newbies that actually don't have so much to say about bitcoin finding ourselves in a position or condition that seek our exaltation about the currency beyond just describing it as a store of value if a person could invest and hold for longer term.

So I thought I should raise the question for the benefits of many others like me, perhaps, I don't know if such thread has been made in the past.

what more other convincible informative characteristics and benefits  can you give out to someone who has no idea about bitcoin besides the wide established knowledge that it is a digital currency that should you invest in for long you're going to be profitable or get rich by credit of a bull run?

A financial instrument that allows you to remain free and self-sufficient anywhere in the world, regardless of the political and economic situation in the region.

A financial instrument that allows you to remain the master of your wealth and material assets.

I think it's kind of like that.