Cryptocurrency beats having faits at every point

[Macoach]

"I don't really get why you'd store your money in cryptocurrencies," a friend asked me just a day ago, expressing skepticism about Bitcoin.

Well, who wouldn't appreciate a digital asset that grows on its own, free from the worries of taxation or government regulations on how much you can have?

I personally enjoy the fact that I'm in charge of storing and managing my crypto assets without anyone doing it for me.

Ever since I learned about the dollar-cost averaging (DCA) strategy on this forum  I've been committed to acquiring at least 1 BTC. It doesn't feel impossible anymore.

Even though BTC is banned in my region, I've found a community of crypto enthusiasts on this forum, sharing and gathering information. I strongly believe that crypto will someday be accepted worldwide.

As for my favorite reason for choosing Bitcoin over fiat currency, it's the sense of control and potential for growth that it offers. Plus, I'm in good company here, so feel free to share your thoughts too! 😊

If your interested in DCA I think you should follow up on this thread
https://bitcointalk.org/index.php?topic=5132720.0

[jrrsparkles]

a digital asset that grows on its own, free from the worries of taxation or government regulations on how much you can have?

Cryptocurrencies are not designed to evade tax and it won't be too long for the government such as IRS to track your assets cause everything is almost KYCed now so if you are someone dumping huge amounts in Bitcoin and not paying taxes then you are not safe.

Even though BTC is banned in my region, I've found a community of crypto enthusiasts on this forum, sharing and gathering information. I strongly believe that crypto will someday be accepted worldwide.

If the status of bitcoin is banned in your region then you should be more careful even when you are holding and trying to accumulate funds via decentralized p2p modes only not in any way that includes exchanges or other parties related to crypto in their bank accounts.

[Gladitorcomeback]

Well, who wouldn't appreciate a digital asset that grows on its own, free from the worries of taxation or government regulations on how much you can have?

Ask from those who living in country where crypto regulated and pay big fee when they deposit or withdraw. Indians brothers have to pay 30% tax for trading and sooner or later all countries will also follow them and I also support users who pay their tax on time which is sign of loyality towards country.

Ever since I learned about the dollar-cost averaging (DCA) strategy on this forum  I've been committed to acquiring at least 1 BTC. It doesn't feel impossible anymore.

Yes DCA is best choice if anyone want to buy btc for long term. every dip is opportunity to increase your number of btc. If you add btc time to time without thinking of selling then yes one day you will be owner of whole btc

Even though BTC is banned in my region, I've found a community of crypto enthusiasts on this forum, sharing and gathering information. I strongly believe that crypto will someday be accepted worldwide.

Is there any law made for cryptocurrency or you are saying banned just because buying through credit card is not allowed. In my country, Bitcoin is not fully banned but we cannot buy/sell openly. If btc is fully banned then P2P is also not secured because your all data is recorded.

[SamReomo]

Well, who wouldn't appreciate a digital asset that grows on its own, free from the worries of taxation or government regulations on how much you can have?

You're right that Bitcoin is a digital asset that's free from regulations but it doesn't grow by its own there is a huge community to help it grow and they all are the supporters of the Bitcoin and its concept. Bitcoin can be acquired without any taxation but it isn't free from taxes and if the authorities found that you have enough Bitcoin then you may have to pay taxes. IRS has classified Bitcoin as a property and that's why it isn't free from taxes anymore in some regions.

Ever since I learned about the dollar-cost averaging (DCA) strategy on this forum  I've been committed to acquiring at least 1 BTC. It doesn't feel impossible anymore.

That's a great strategy to acquire 1 Bitcoin because with that strategy you weekly or monthly spend some percentage of your earnings to purchase Bitcoin and if you continue that for some years then you'll be a proud owner of a Bitcoin.

Even though BTC is banned in my region, I've found a community of crypto enthusiasts on this forum, sharing and gathering information. I strongly believe that crypto will someday be accepted worldwide.

I would recommend you to be careful with your investment in Bitcoin if it's banned in your region. I know that this forum is the best place where most Bitcoin lovers are present and you'll get a lot of information about Bitcoin from this forum but still you should be careful when investing in it because if something is banned in your country then it's a trouble taking job to hold that thing. I would recommend you to be very careful because if your government somehow gets information about your Bitcoin holdings then they can seize your coins and take legal action against you.

As for my favorite reason for choosing Bitcoin over fiat currency, it's the sense of control and potential for growth that it offers. Plus, I'm in good company here, so feel free to share your thoughts too! 😊

Well, almost everybody is interested in Bitcoin because of its decentralization and its potential to grow higher in value. The features that Bitcoin offers are unquie and the community that is backing up it is also huge. Fiat isn't anywhere close to Bitcoin when it comes to sense of control and that's why it's always better to choose Bitcoin and continue investing it in a secret way. Never ever tell anyone about your investment and again be careful because investing in it in a banned region may have some risks involved.

[letteredhub]

Well, who wouldn't appreciate a digital asset that grows on its own, free from the worries of taxation or government regulations on how much you can have?

Don't misinterpret bitcoin to an asset through wish you can invade government taxes. Taxes are our obligation as citizens of a country . Yeah you can accumulate as much bitcoin as you wish but you have to pay your taxes where due.

I personally enjoy the fact that I'm in charge of storing and managing my crypto assets without anyone doing it for me.

Every human wants to be in control of his affairs and it's beautiful we have bitcoin giving us that opportunity and confidence at same time.

Ever since I learned about the dollar-cost averaging (DCA) strategy on this forum  I've been committed to acquiring at least 1 BTC. It doesn't feel impossible anymore.

With an appropriate DCAing every bitcoiner will appreciate the equal advantage we all get in owning a bitcoin of our own or more through bit by bit purchasing. And when you possess the knowledge of knowing when to DCA at every intervals when the opportunity opens up in the market you'll be accumulating in profit.

[jossiel]

A skeptic will remain as a skeptic for a long time but it doesn't mean that they won't change for the better. That friend of yours could have been skeptic to you even long time ago but soon he'll get to see how successful you are.

But that's not the point of it.

With his curiosity, everything is going to change when that matter ticks on his mind and it's becoming a more interesting question to him why you've been firm and keeps on doing what you've started as a bitcoin investor that does DCA.

[Faisal2202]

"I don't really get why you'd store your money in cryptocurrencies," a friend asked me just a day ago, expressing skepticism about Bitcoin.

Well, who wouldn't appreciate a digital asset that grows on its own, free from the worries of taxation or government regulations on how much you can have?

I personally enjoy the fact that I'm in charge of storing and managing my crypto assets without anyone doing it for me.

I did not quite really understand what do you mean by faits. Are you trying to say, that Cryptocurrency beats fiat at every point? If yes, then you should edit your title, and be careful next time while creating a new topic. You are most welcome to make new topics but please try not to make topics blindly and in a sense of hurry.

Try to remain calm, make a topic, then read it again. Then post it.

And you should write BTC instead of cryptocurrency. Because in cryptocurrency there are alts involved too but if we only write BTC then the statement becomes more valid. Other than that, I totally agree with all of your facts and I am a promoter of BTC as I also do DCA at the rate that I can.

[usekevin]

A skeptic will remain as a skeptic for a long time but it doesn't mean that they won't change for the better. That friend of yours could have been skeptic to you even long time ago but soon he'll get to see how successful you are.

But that's not the point of it.

With his curiosity, everything is going to change when that matter ticks on his mind and it's becoming a more interesting question to him why you've been firm and keeps on doing what you've started as a bitcoin investor that does DCA.

If the bitcoin or cryptocurrency need to change the fiat system,it need to wait.Because already the USD was spread all over the world,many of my friends also holding the cryptocurrency for the change.The system need to change for the better change in the currency world.The United States dollar had huge root in the currency world,the most of the countries in the world had their reserve in USD of the currency world.The world economy was depend on the cryptocurrency now on various form,many getting job using the cryptocurrency.

[GbitG]

A skeptic will remain as a skeptic for a long time but it doesn't mean that they won't change for the better. That friend of yours could have been skeptic to you even long time ago but soon he'll get to see how successful you are.
 
But that's not the point of it. 
 
With his curiosity, everything is going to change when that matter ticks on his mind and it's becoming a more interesting question to him why you've been firm and keeps on doing what you've started as a bitcoin investor that does DCA.

You are right about firmness. because doing DCA is not an easy task. It needs consistency, and dedication to accumulate BTC The OP seems to be so optimistic that he thinks accumulating 1 BTC is not impossible, and indeed it is not impossible, and one can really accumulate 1 BTC easily, but the journey is so hard for one to follow.
 
And it might take some time to get some good results to prove your skeptical friend wrong. But the point should not be that, as you mentioned. The point should be. To accumulate as much BTC as one can. Either by doing DCA, lump sum, or buying at dips. Whatever the method is, after accumulation, they go through the phase of holding it for an extended period of time to make a profit out of it.
 
Dear OP I hope you will reach the goal of 1 BTC soon and god will help you.

[Agbe]

Op till now I don't understand your TOPIC and if there is a mistake please revisit your topic and make it more clear for us to understand. Well bitcoin is free from taxation if you are using p2p but when you are using centralized exchange, you pay tax though not all but some. Most local exchanges ask customers to pay transaction fee but I have not seen that in international exchanges like Remitano and Binance but Busa pays transaction fees. Cryptocurrency {bitcoin} makes things easy for the new generational technology age. There is no physical verification and identification. Those countries that have ban cryptocurrency are just wasting themselves, because people are using p2p to bypass the ban. Like my country we are not even feeling the impact of the restriction by banks.  

[BitDane]

"I don't really get why you'd store your money in cryptocurrencies," a friend asked me just a day ago, expressing skepticism about Bitcoin.

Well, who wouldn't appreciate a digital asset that grows on its own, free from the worries of taxation or government regulations on how much you can have?

Just we wait and in the near future we find out cryptocurrency being taxed.  Another thing, if we sell our cryptocurrency in profit we are obliged to pay tax for its profit since cryptocurrency is considered as an intangible asset.

I personally enjoy the fact that I'm in charge of storing and managing my crypto assets without anyone doing it for me.

Who don't?  Well only lazy individuals and afraid of responsibilities let the exchange hold their cryptocurrency for them.  But for those who knows what they are doing, they are fond of holding their own wealth since control is always beautiful if we have them.

Well, who wouldn't appreciate a digital asset that grows on its own, free from the worries of taxation or government regulations on how much you can have?

Don't misinterpret bitcoin to an asset through wish you can invade evade government taxes. Taxes are our obligation as citizens of a country . Yeah you can accumulate as much bitcoin as you wish but you have to pay your taxes where due.

Corrected this one for you  .  I believe the right term is evade.

Definitions from Oxford Languages · Learn more
e·vade
/əˈvād/
verb
escape or avoid, especially by cleverness or trickery.
"friends helped him to evade capture for a time"

[Die_empty]

Even though BTC is banned in my region, I've found a community of crypto enthusiasts on this forum, sharing and gathering information. I strongly believe that crypto will someday be accepted worldwide.

Using or investing in Bitcoin has so many benefits which sometimes force individuals to violate the laws of the land. If bitcoin is banned in your country and citizens are banned from owning it you have to be careful. You have to learn how to maintain privacy to avoid punishments. Bitcoin awareness has continued to spread even in the face of government restrictions. Like in my country, the number of Bitcoin users has kept increasing regardless of the restrictions placed on it. The people are embracing the currency because it is a potent hedge against inflation.

As for my favorite reason for choosing Bitcoin over fiat currency, it's the sense of control and potential for growth that it offers. Plus, I'm in good company here, so feel free to share your thoughts too! 😊

If your interested in DCA I think you should follow up on this thread
https://bitcointalk.org/index.php?topic=5132720.0

I like the word 'potential' because it is not certain that your investment will grow, sometimes it declines. But history has shown that it is better to keep money in bitcoin than fiat.  DCA is the right strategy to accumulate bitcoin but one can adopt the lump sum strategy if the price drops to a significant level and you can afford it.

[EL MOHA]

As for my favorite reason for choosing Bitcoin over fiat currency, it's the sense of control and potential for growth that it offers. Plus, I'm in good company here, so feel free to share your thoughts too! 😊

The hedge against inflation is my second most favorite advantage of it against fiat currency. With this one can hold on to an asset that doesn’t depreciates and it is not hard to get like precious metals with similar advantages. The ability to also transact without having to covert from one currency to another is also important advantage.

My only advice is one to invest not all ones money into it so that you can hold on for longer time. Rushing to withdraw your bitcoin after investing everything into it all the time of emergency is bad

[Cryptomultiplier]

You can have both and they are distinct in their use and application apparently. Although the control of ones income is more certain with cryptocurrencies compared to fait where the government and other monetary agencies are keeping an eye out for customers.
The charges needed to complete international transactions and trades might also be too high when compared to crypto, hence why I can agree that crypto beats fiat both in its ease of using it and carriage.

The reality is that, you will find yourself oneday in a physical environment where only fiat is used, there's no network or internet coverage and few persons with crypto knowledge. What then becomes of the coins in your wallet when you are stranded without fiat in hand?

[BIT-BENDER]

I would not blame your friend so much, he I probably just ignorant about what reasons you have in saving your funds by yourself in crypto-currency, yes there are many financial threats like ponzi (MMM e.t.c) that people have bad experience with so the are more skeptical about saving, sending their funds anywhere that isn't the banking system.

I think a proper enlightenment can really go a long way in educating that friend of yours, also on your part you should also know how to deal with crypto-currency seeing you coming from a region where crypto is ban

[Medusah]

Even though BTC is banned in my region, I've found a community of crypto enthusiasts on this forum, sharing and gathering information.

I hope you are making use of anonymity preserving tools like Tor, otherwise your government already knows about your account in here.

[Ojima-ojo]

One of the fun of DCA is the fact that you already have a pre determine amount of Bitcoin to accumulate along the way,  and this mindset will guide you in your approach to the market and this is one if the cardinal point that have motivated a lot of us in our quest to accumulating Bitcoin using the dollar cost average to approach and take chances in the market.


Bitcoin have been the best alternative to fiat in every sense of it and this have been the main reason why most people to store the money in Bitcoin instead of saving your money in a bank that doesn't give them any form of interest and subject their balance to taxation.

[BitcoinPanther]

I would not blame your friend so much, he I probably just ignorant about what reasons you have in saving your funds by yourself in crypto-currency, yes there are many financial threats like ponzi (MMM e.t.c) that people have bad experience with so the are more skeptical about saving, sending their funds anywhere that isn't the banking system.

I think a proper enlightenment can really go a long way in educating that friend of yours, also on your part you should also know how to deal with crypto-currency seeing you coming from a region where crypto is ban

It is indeed the lack of understanding about Bitcoin the reason why his friend is puzzled why @OP is saving his money in crypto. If his friend is knowledgeable  about cryptocurrency then he would not be asking that question. 

As for my favorite reason for choosing Bitcoin over fiat currency, it's the sense of control and potential for growth that it offers. Plus, I'm in good company here, so feel free to share your thoughts too! 😊

The hedge against inflation is my second most favorite advantage of it against fiat currency. With this one can hold on to an asset that doesn’t depreciates and it is not hard to get like precious metals with similar advantages. The ability to also transact without having to covert from one currency to another is also important advantage.

My only advice is one to invest not all ones money into it so that you can hold on for longer time. Rushing to withdraw your bitcoin after investing everything into it all the time of emergency is bad

I like cryptocurrency because of its feature of boundless transfers.  It is not controlled by any third party financial system and we are free to send and receive coins from any part of the word.  Aside from that cryptocurrency enable the unbanked to participate in the global economy.

[SatoPrincess]

"I don't really get why you'd store your money in cryptocurrencies," a friend asked me just a day ago, expressing skepticism about Bitcoin.

Cryptocurrencies like bitcoin and altcoins are volatile assets that have no fixed value. Stable coins are cryptocurrencies that are pegged to the US dollar and have a more stable price value. It’s not advisable to store all your money in crypto. You need to have just enough fiat in the bank to cover your expenses and lifestyle.

Well, who wouldn't appreciate a digital asset that grows on its own, free from the worries of taxation or government regulations on how much you can have?

Bitcoin and other cryptocurrencies are taxable assets, it just depends on the government of the country where you live. I know bitcoin is taxed in the UK, and some bitcoin investors struggle with the calculation because it kind of tricky, do you pay tax based off your initial purchase or the ROI. It’s easier if you have a professional who handles your books on your behalf, tax evasion is a serious crime and bitcoin wasn’t created to help people cut taxes.

[panganib999]

I don't understand why people are always coming up with the crypto is anti-fiat comparison. At best cryptocurrencies is anti-capitalism, but never did anyone specify that crypto is against the use of fiat.

Come to think of it, outside of El Salvador and any other country on the planet that uses bitcoin/crypto for payments and transactions you could never find any place that doesn't require you to pay with fiat for goods and services, try giving them bitcoin and see how sour their faces turn into once you say that to them lol. Crypto is your leverage, it's what you use to make sure your fiat's never losing its value against inflation, with the added bonus of turning a profit at the end of it. Fiat is what you use to transact and remain alive in this planet. If you single out crypto cause it's great and you can use it for transactions what you'd only end up with is yet another fiat in the making. It's time to stop comparing crypto and fiat cause these two work hand-in-hand, not against each other.