Think of Bitcoin as a boost for a better circular flow of income.

[Wind_FURY]

That's the sort of "thinking" that makes many plebs like us give up easily from HODLing Bitcoin. They believe the technology is something that could give them some profit. I won't be a hypocrite, I also HODL Bitcoin as an investment, BUT that's not the main reason why I HODL.

I HODL because HODLing a decentralized, censorship-resistant cryptocurrency will make us self-sovereign. HODLing Bitcoin is also a HEDGE against the legacy financial system, a system that devalues people's fiat-money savings. That system will make every pleb like us POOR if we don't hedge against it.

 

Can show how hard to stay calm, confident and hold bitcoins over time and many chaos, especially the song reveals the fact better than the chart.

I believe that those people who have low conviction in Bitcoin, are those people who don't truly understand the technical basics/fundamentals of Bitcoin.

I have been a broken record in BitcoinTalk, telling plebs like us to read the developer guides in bitcoin.org,

https://developer.bitcoin.org/devguide/index.html

Those documents are very basic, their actually written for plebs like us.

[CryptoYar]

Bitcoin borderless, real-time operational nature speeds up flow of money in and out of global households and businesses, while traditional systems mostly have money stored in central vaults that sit idle. It eliminates loss of efficiency caused by intermediaries in banking system and makes flow more direct and less reliant on government managed valves.

Bitcoin true boost is as Transparent Reserve. Governments are scared of losing control over price stability, but financial flow with Bitcoin keeps financial discipline. It helps to avoid process of printing fiat currency to point where value of currency is reduced for households at bottom of circle. We are not simply changing way that money moves, we are making sure that value of money that moves through system does not disappear because of inflation. This even flow is possible only when medium of exchange is as sound as labour on which it is based.

[BitBrainers]

HODLing Bitcoin is also a HEDGE against the legacy financial system, a system that devalues people's fiat-money savings.

The circular flow framing undersells what Bitcoin actually is. It is not a tool that plugs into the existing economic system to make it run better. It is a parallel system built specifically for people who looked at the existing one and realized it is working exactly as designed, just not in their favor.

The circular flow of income in most countries already works. Money moves from households to businesses, from businesses to governments, from governments back to institutions. It circulates just fine. The problem is where it accumulates. Bitcoin does not fix the direction of that flow. It gives you a door out of it entirely.

That is not a boost to the system. That is a bypass around it. And for a lot of people around the world sitting on savings that are quietly being inflated away, a bypass is exactly what they need.

[Curious T]

I believe that those people who have low conviction in Bitcoin, are those people who don't truly understand the technical basics/fundamentals of Bitcoin.

I believe this too. Ordinary people who fully understand what Bitcoin is and what it can be for them would definitely like Bitcoin. It is usually people who don't understand it that have low conviction.
Thanks for the link. I have sent it to two people I know who are interested in understanding Bitcoin and how it works. I believe if they read it and have questions, I can explain it for them.

[btc78]

~
In this light Bitcoin would surely add as a boost to a better circular flow of income.

You might expect that, but it just doesnt work that way in the real world.  Governments dont simply give up control because a better ledger system comes along; they will actually fight hard to keep it.  Bitcoin is not some kind of boost for the regular flow of money - it is more like a big shake-up that banks will either try to block or try to get their hands on.

this is true.

maybe individually, the flow of income will improve or rather you’ll have a better safety net since bitcoin is very secure and an investment you can rely on but for the general economy, bitcoin is not yet exactly part of the flow since it’s the alternative to the existing system already. it’s how it will be integrated into the existing flow that would improve lives of everyone across the globe.

[Fivestar4everMVP]

This then brings me to my point, you can't help but see a future where Bitcoin comes in as a tool alongside the traditional currencies and banking systems, which is already happening.
When this is the case, banks become less central, the government surely relinquishes part of economic control, when this is merged with consumer protection and price stability, we could then start to have a more even circular flow of income.

In this light Bitcoin would surely add as a boost to a better circular flow of income.

Well, I may not actually get your point clear enough the way I want but one thing certain is that bitcoin has indeed contributed so so positively to the economy of the whole world and also to the economy of different countries in the world.
Simply close your eyes and think, imagine all the businesses today that is running because bitcoin was invented, think about the exchanges, think about the mining companies, think about all the micro businesses operating simply because bitcoin exists, now think about the people who manage this business and the number of people currently employed and getting paid salaries, again think about what this hundreds of thousands and millions of people would have been doing if there was nothing like bitcoin or crypto currency or blockchain.

Bitcoin has been nothing but a blessing to humanity and the world, even if some countries refuse to adopt bitcoin in the end, no country can deny that bitcoin hasn't affected their economy positively either directly or indirectly.

[purple_sparkles]

This then brings me to my point, you can't help but see a future where Bitcoin comes in as a tool alongside the traditional currencies and banking systems, which is already happening.
When this is the case, banks become less central, the government surely relinquishes part of economic control, when this is merged with consumer protection and price stability, we could then start to have a more even circular flow of income.

In this light Bitcoin would surely add as a boost to a better circular flow of income.

Well, I may not actually get your point clear enough the way I want but one thing certain is that bitcoin has indeed contributed so so positively to the economy of the whole world and also to the economy of different countries in the world.
Simply close your eyes and think, imagine all the businesses today that is running because bitcoin was invented, think about the exchanges, think about the mining companies, think about all the micro businesses operating simply because bitcoin exists, now think about the people who manage this business and the number of people currently employed and getting paid salaries, again think about what this hundreds of thousands and millions of people would have been doing if there was nothing like bitcoin or crypto currency or blockchain.

Bitcoin has been nothing but a blessing to humanity and the world, even if some countries refuse to adopt bitcoin in the end, no country can deny that bitcoin hasn't affected their economy positively either directly or indirectly.

I think that the more countries integrate bitcoin into their economies, the more mechanisms for control and taxation will appear. I believe the process of full legalization and adoption is being slowed down because governments still haven’t figured out how to implement it without creating problems for themselves, especially since a significant amount of corrupt money has also been hidden in bitcoin.

[blockman]

Banks remains to be central but they're having less control to the choices of people. When everyone understands what bitcoin, we all become our own banks. The traditional setup will remain but, they can't stop the emergence of people getting into Bitcoin. What they can do is to also adopt into bitcoin and it's either offer a service related to it to make people remain on them or, do the same thing what we also do. And that's to become investors like us and hold it in their treasury waiting for its growth and sell at the right time since they are for the profit. Not enthusiastic about it but it's business as usual for them.

[mohdadeeb]

That’s an interesting way to look at it. A lot of Bitcoin supporters see it as more than just an investment  they view it as a system that allows value to move more freely without relying heavily on traditional financial intermediaries. Especially in regions with inflation or limited banking access, crypto can create faster and more flexible ways for people to store and transfer value globally.

[Marvelockg]

That’s an interesting way to look at it. A lot of Bitcoin supporters see it as more than just an investment  they view it as a system that allows value to move more freely without relying heavily on traditional financial intermediaries. Especially in regions with inflation or limited banking access, crypto can create faster and more flexible ways for people to store and transfer value globally.

It has already created such avenue for people to store and transfer money and regarding it role in cash flow, it has also made it easier for cash flow because almost any and everyone has the ability to move his funds anytime he dims fit with zero restrictions.

Any system that comes with a third party always has a lot of descripances and with bitcoin coming to bridge that sort of descripances, it has brought about a serious boost to the way money flows and and has also helped in boosting the income of others.

[sfjordhalvson]

That's an interesting way to look at it, bitcoin can improve the flow of money by allowing people to send and receive value directly, without relying too much on banks or other intermediaries. For workers and businesses and even families sending money across borders, this can mean lower fees and faster transactions. More of the money stays with the people who earned it instead of being lost to processing costs.

So I dont think bitcoin will replace traditional currencies anytime soon, but it can definitely complement the existing system and make it more efficient. So yeah, bitcoin may not fix the whole economy, but it can help money move more freely and fairly.