Advantages of Bitcoin over fiat and local banks

[Solokan]

-snip-
but if we invest in BTC there is the potential not to be affected by inflation,

Bitcoin is also volatile, it will indirectly have the perception of inflation in relative value, especially for speculators whose main activity is trading it with fiat currency.
And the term "long term" is also relative to some people. There's nothing wrong with using bitcoin as a hedge, but investors can be at more risk from the effects of inflation because of the relative time they can hold it.

I agree with your opinion, and indeed investing in BTC is very risky, because the price fluctuates so it is possible that in the future people who hold BTC will suffer losses because BTC has a fluctuating nature and also we will not know whether the price of BTC will go down in the future. or up. That's why I chose everything and only the money our was ready to lose was suitable to invest in BTC.

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[Blitzboy]

Decentralization is obviously the best advantage that Bitcoin provides to its users because we have been under the control of these financial institutions for centuries and there was never a way for people to actually keep their own money with them in a safe manner without having to keep them in paper cash that is prone to a lot of issues and without giving anyone else access to their money and always having access to their funds no matter where they are.

Why is it so easy to forget about some other physical assets as a store of value, such as gold, silver, real estate, stock investments and so on, once you get to know bitcoin?

Bitcoin is still less than 2 decades old, but its innovations have made it a better store of value than some of the options before it. I haven't forgotten the history of storing asset value before bitcoin was invented, but maybe people have forgotten it just because they have managed to make huge profits from bitcoin in a relatively short time compared to other assets. Fiat is not a good store of value due to inflation, but some other physical assets can still be considered.

After all, Fiat has never supported your right to privacy, as it adheres to a centralized system controlled by financial institutions. Decentralized bitcoin provides better privacy protection, but you must follow and implement the recommended methods to ensure privacy.

When you look at the whole picture of how value is stored, Bitcoin's design offers an option to the old ways. 0Gold, as valuable as it is, is big. Real estate cannot be moved. How about stocks? They're tied to how well the company does. But Bitcoin, in all its virtual glory, smashes these limits. It's easy to carry, can be split up, and doesn't go up in value.

However, some people may disregard traditional assets due to Bitcoin's quick value growth and anti-establishment mindset. Don't, however, dismiss Fiat's contribution too quickly. It offers a benchmark against which we gauge the worth of Bitcoin despite its shortcomings and centralized administration. The contrast is rather stark: while Fiat remains a link to the past, Bitcoin gives independence and privacy. In this new era, we must remain informed, retain a fair perspective, and combine what we already know with what we learn.

[jaberwock]

Embracing Bitcoin represents a step towards financial liberation, where you determine the fate of your money, not faceless or third party institutions. for those out there who still have doubts about Bitcoin, I think it's high time you reconsider where you place your funds. Bitcoin, with its decentralized and transparent nature, is a compelling choice.

since you are new to this forum (created account this year) then you might not heard this many times that banking has most issues than crypto wallet.
the only problem in bitcoin network when there are congestion that mostly happened in bull market.
but aside from that? I think this is much faster and economical comparing to regular fiat or banking using.

I would guess that this caused due to people moving a lot, not buying a lot. The difference is that if you keep on buying a lot then you are not going to make as much money as you think, and it's just one direction move and it will not really change much in the end, but when you are trading, you do moves constantly and trading during this period is the most important one.

I believe that we should be making a good change in the end and we should be making a difference in the end as well. I do believe that we are going to end up with a result that will be different and difficult a bit, but it could end up being something that is more movement. So all in all, it's the people who trade during bull run, not the one who buy it.

[The Cryptovator]

When you are storing your funds in the bank, keep in mind that government and legal authorities have access to your funds. You aren't the controller anymore of your funds. Bitcoin is the full reverse of the fiat system. If you store your funds into a non-custodial wallet means you have full control of your funds. You are your bank in this scenario. Bitcoin gives us financial freedom, we can spend and store our way. Sadly we can't ignore fiat as well due to our daily needs. Still, Bitcoin hasn't adapted globally and does not enable making payment everywhere.

[Bananington]

No one knows how important this topic is until they find themselves in a dire situation wherein the local banks has made deductions prior to the account owners notice, and when the account owner intends to make a withdrawal or transfer, they see the notification of charges deducted that has lessened the original amount in ones account.  It is always embarrassing and the only way I have gotten over this experience in the multiple times it once happened to me was save my cash by investment in BTC.

I didn't trade much initially, but saved up till I could withdraw to fulfil a target I envisioned already. This is one of the advantages that I have enjoyed from having the knowledge of BTC and crypto currency in general.

[serjent05]

When you are storing your funds in the bank, keep in mind that government and legal authorities have access to your funds. You aren't the controller anymore of your funds. Bitcoin is the full reverse of the fiat system. If you store your funds into a non-custodial wallet means you have full control of your funds. You are your bank in this scenario. Bitcoin gives us financial freedom, we can spend and store our way. Sadly we can't ignore fiat as well due to our daily needs. Still, Bitcoin hasn't adapted globally and does not enable making payment everywhere.

I can't agree more.  In addition with Bitcoin, there is a possibility of making huge profits when the market goes in an uptrend unlike putting our money in the Bank where the value is depreciating due to inflation even though the bank gives interest but it is very small to make up for the devaluated value of fiat money over time.

One more thing, since banks have the sole access to the funds, if we decide to make a full withdrawal of our funds, but it exceeds the threshold of instant transfer, we need to wait for the approval and confirmation of the bank to be able to move our money and that is where Bitcoin shines brightly since with Bitcoin, we can move our funds anytime, anywhere we wanted.

[mv1986]

When you are storing your funds in the bank, keep in mind that government and legal authorities have access to your funds. You aren't the controller anymore of your funds. Bitcoin is the full reverse of the fiat system. If you store your funds into a non-custodial wallet means you have full control of your funds. You are your bank in this scenario. Bitcoin gives us financial freedom, we can spend and store our way. Sadly we can't ignore fiat as well due to our daily needs. Still, Bitcoin hasn't adapted globally and does not enable making payment everywhere.

I can't agree more.  In addition with Bitcoin, there is a possibility of making huge profits when the market goes in an uptrend unlike putting our money in the Bank where the value is depreciating due to inflation even though the bank gives interest but it is very small to make up for the devaluated value of fiat money over time.

One more thing, since banks have the sole access to the funds, if we decide to make a full withdrawal of our funds, but it exceeds the threshold of instant transfer, we need to wait for the approval and confirmation of the bank to be able to move our money and that is where Bitcoin shines brightly since with Bitcoin, we can move our funds anytime, anywhere we wanted.

This is true for the people who have a reasonable holding strategy and don't try to increase their Bitcoin holdings by trading it back and forth. Usually nobody would do that with fiat money unless they are forex traders. This is why Bitcoin is still considered and investment or speculative financial toy instead of a currency.

And regarding making huge profits, that would be the moment when you either sell your Bitcoin for cash again or you buy something else, but either way you'll have to use your Bitcoin at some point in order to realize gains.

[kotajikikox]

Embracing Bitcoin represents a step towards financial liberation, where you determine the fate of your money, not faceless or third party institutions. for those out there who still have doubts about Bitcoin, I think it's high time you reconsider where you place your funds. Bitcoin, with its decentralized and transparent nature, is a compelling choice.

since you are new to this forum (created account this year) then you might not heard this many times that banking has most issues than crypto wallet.
the only problem in bitcoin network when there are congestion that mostly happened in bull market.
but aside from that? I think this is much faster and economical comparing to regular fiat or banking using.

[Awaklara]

Embracing Bitcoin represents a step towards financial liberation, where you determine the fate of your money, not faceless or third party institutions. for those out there who still have doubts about Bitcoin, I think it's high time you reconsider where you place your funds. Bitcoin, with its decentralized and transparent nature, is a compelling choice.

since you are new to this forum (created account this year) then you might not heard this many times that banking has most issues than crypto wallet.
the only problem in bitcoin network when there are congestion that mostly happened in bull market.
but aside from that? I think this is much faster and economical comparing to regular fiat or banking using.

Actually, it's a matter of speed, not a big concern for Bitcoin or Bank fiat holders. Digital transactions of our money at the bank are also quite fast. but when we make digital fiat transactions, we actually only move cash from bank account 1 to another bank account. actually, we don't hold the money, we just leave our money in the bank.
while Bitcoin transactions, we have full control over the Bitcoins we own. it's in our wallet and we own it. no other party will manage our finances with Bitcoin.

[Tony116]

Embracing Bitcoin represents a step towards financial liberation, where you determine the fate of your money, not faceless or third party institutions. for those out there who still have doubts about Bitcoin, I think it's high time you reconsider where you place your funds. Bitcoin, with its decentralized and transparent nature, is a compelling choice.

since you are new to this forum (created account this year) then you might not heard this many times that banking has most issues than crypto wallet.
the only problem in bitcoin network when there are congestion that mostly happened in bull market.
but aside from that? I think this is much faster and economical comparing to regular fiat or banking using.

An even bigger problem is that even if banks have more problems, we still need them and will use them to some extent, we can't stop using banks as long as fiat is still in use is our main currency. You're still using your bank to buy bitcoin, which you use to pay more daily bills.

In my opinion, nothing is perfect, everything has pros and cons. Furthermore, the disadvantages you mentioned about bitcoin are not too big a problem if you use bitcoin to hold long-term to make a profit.