The simplest explanation why you should consider Bitcoin

[Tongley]

One thing that new investors need to understand is that Bitcoin past performance does not always guarantee its future results. Presenting Bitcoin as an asset that continually increases in price may come off as misleading even though that’s historically accurate, and that could end up creating an unrealistic expectation for newbies. Self custody is another benefit, but we know that when you take control, you become completely responsible for everything about your coin, that means one needs to be extra cautious so as to make sure you don’t fail in your responsibilities because that could be game over.

It is not wrong if someone present Bitcoin as an asset that continually increases in price because that is what Bitcoin is, and i do not see such presentation as what is misleading in any way and it cannot literally create unrealistic expectation for newbies. Before i came to this forum to learn about Bitcoin there are some of my neighbours Bitcoin changed their lives but i did not allow that to put pressure on me or make me to get the mindset of getting rich overnight once i start investing in Bitcoin because i understand Bitcoin is not quick to get rich scheme but a long term investment. So whatever thing you are told or you heard about Bitcoin, your mindset towards Bitcoin when you are starting your investment will determine your expectation as a newbie.

If we think about the overall feature analysis of Bitcoin there is a strong possibility that the valuation of Bitcoin will increase further in the future. But I do not want to say this with a guaranteed profit or prediction. Because for this reason I am of the opinion that if someone wants to invest in Bitcoin then he should invest with a fund that he can keep locked for a long time.

Because if someone has such a mentality that Bitcoin only has decentralized features, there is no profit in it then that person will never invest. It will even discourage many people. And the main decision should be made according to the purpose and financial condition of the person who is investing. I also do not think it is right to influence someone to invest forcefully .

Forcing someone to invest and encouraging someone to invest by force is putting yourself in danger. Because the person you are forcing to invest is not aware of the risks of investing and when he invests, if the market falls, he may be afraid and sell his holdings and if he faces a loss, he may blame you for the loss. So encouraging someone to invest on his own or forcing him to invest is not the right decision at all.

If a person wants to learn about Bitcoin from you or comes to you for advice about investing in Bitcoin, first tell such people about the risks of Bitcoin. Because whenever he faces such a problem, he will not be able to blame you. Start slowly, this is the best decision. The more you rush, the more likely you are to take the wrong decision.

[Bityar]

I think we should not even compare bitcoin with any other normal banking system because bitcoin is now a very strong asset and it is proven. Bitcoin has reach to his full height and noone can compete with it. Nowadays in a banking system a person can not control his own money which is his hard earn money. Bank always keep an eye on us and cut or charge the unnecessary fees and whenever they want they freez or block your account on the other hand bitcoin give us financial freedom. With the help of bitcoin without any 3rd man or any government approval we can easily do transactions whenever wee want without any unnecessary charges.

[Bryan jessy]

It is ridiculous how a person will have some difficulty accessing your own money, like your hard earned money that a person deposited easily, I remember few days ago I was telling a relative that I was tired of saving my money in the physical bank, because why on earth should I be receiving a debit alert from unknown charges or service from the bank, and I told my relative that I really need to start operating fully on Bitcoin because if I was using Bitcoin I would not have been experiencing such thing as unnecessary charges or issues access my money when I need it, and honestly Bitcoin is exceptional and can not be compared to any other assets and saving methods.

[Localhostspeed]

I think we should not even compare bitcoin with any other normal banking system because bitcoin is now a very strong asset and it is proven. Bitcoin has reach to his full height and noone can compete with it. Nowadays in a banking system a person can not control his own money which is his hard earn money. Bank always keep an eye on us and cut or charge the unnecessary fees and whenever they want they freez or block your account on the other hand bitcoin give us financial freedom. With the help of bitcoin without any 3rd man or any government approval we can easily do transactions whenever wee want without any unnecessary charges.

Aside been strong, Bitcoin and bank are not the same in many ways. The banks takes propels money as deposit, use the money for investment and give the money to other companies and institutions at high interest. They also borrow the central banks some part of their money, the micro finance banks do the same and deposit money into commercial bank for the same purpose, to make interest from money they collected from people. The only similarity with Bitcoin is the fact that the both process payment.

Bitcoin first of all is decentralized, it doesn't have a system that collect money from people, it's the keys that controls coins and it's anyone that has the private keys that can spend money, you don't need bank authority to spend your money, you don't need to go through any process to use your money and the most important part is Bitcoin is an investment, money kept in banks are savings that inflations can destroy at anytime. Bitcoin is better in many ways.

[Issa56]

A lot of people have been told several times about the dangers that comes with revealing your bitcoin when it's not needed, emphasis on when it is not needed, some people just want to use every opportunity to tell the next person that they have bitcoin and this attracts unnecessary attention.

If you want people to know that you are having bitcoin, then you are endangering your life, because everyone will start targeting you. Some people will do everything possible to get the bitcoin from you, someone that might attack you and steal your bitcoin might be someone which is close to you, so it’s just better you don’t tell people about your bitcoin holding even if they are close to you. When someone wants to learn about bitcoin from you, make sure you don’t make use of your main wallet to teach the person about bitcoin, make sure you create another wallet, and send just little amount of money there to teach the person whatever he or she wants to learn.

[Tank67]

I think we should not even compare bitcoin with any other normal banking system because bitcoin is now a very strong asset and it is proven. Bitcoin has reach to his full height and noone can compete with it. Nowadays in a banking system a person can not control his own money which is his hard earn money. Bank always keep an eye on us and cut or charge the unnecessary fees and whenever they want they freez or block your account on the other hand bitcoin give us financial freedom. With the help of bitcoin without any 3rd man or any government approval we can easily do transactions whenever wee want without any unnecessary charges.

They should not be compared because they are operating on a different system, and the banking system is different from Bitcoin. I don't even see the need to want to convince anyone for them to buy Bitcoin because Bitcoin does not need advertisement the only thing that you need is for you to be able to see if you want to invest or not, and there is a lot of information out there, and that way it's going to be more of a personal choice than forcing anyone to invest. We should be clear that it is not guaranteed that everyone is going to make money from investing in Bitcoin, so we should have in mind that is not going to be as easy as we think.

[lovesmayfamilis]

They should not be compared because they are operating on a different system, and the banking system is different from Bitcoin. I don't even see the need to want to convince anyone for them to buy Bitcoin because Bitcoin does not need advertisement the only thing that you need is for you to be able to see if you want to invest or not, and there is a lot of information out there, and that way it's going to be more of a personal choice than forcing anyone to invest. We should be clear that it is not guaranteed that everyone is going to make money from investing in Bitcoin, so we should have in mind that is not going to be as easy as we think.

Yes, there is a lot of information on the Internet, but is it worth believing everything you read? Today, the Internet is a dumping ground for every thought that crosses someone's mind. How much you can trust is another question. You should never rush to give your money to a place where you don't know who you're dealing with. You need the right source, and more than one, as well as time to start understanding what people call investments. This forum is a great place to start, as you can get explanations in various languages and perspectives.

[Sally9256]

A lot of people have been told several times about the dangers that comes with revealing your bitcoin when it's not needed, emphasis on when it is not needed, some people just want to use every opportunity to tell the next person that they have bitcoin and this attracts unnecessary attention.

If you want people to know that you are having bitcoin, then you are endangering your life, because everyone will start targeting you. Some people will do everything possible to get the bitcoin from you, someone that might attack you and steal your bitcoin might be someone which is close to you, so it’s just better you don’t tell people about your bitcoin holding even if they are close to you. When someone wants to learn about bitcoin from you, make sure you don’t make use of your main wallet to teach the person about bitcoin, make sure you create another wallet, and send just little amount of money there to teach the person whatever he or she wants to learn.

There is no benefits in letting people know that you own some Bitcoins, I don't see the use but some people like to disclose their holdings to people without considering the risk involved in it. Holding Bitcoin is basically holding some money so there will definitely be those who might have bad intentions and could do anything possible to take away from you. Many risks is involved so I don't see a reason why you should want people to know you hold anything even your close friends can't be trusted.

Teaching someone doesn't require showing them your wallet, everything can be done with their wallet without involvement of your holdings and if you want to encourage them you can tell stories about others making good profit and not share your achievement with them.

[2Pizza410000BTC]

It is a coincidence that I watched the video just some minutes ago on YouTube: https://youtube.com/shorts/fuHaZIxS09s?si=WAqWnWjSFQ39v1Km

Good comparison with Bitcoin, banks would be so easy for you to deposit but when you withdraw they will give you a headache with a lot of requirements. That system is the main reason why Bitcoin was born, so f* them.

Yes, it is absolutely true because when I go to the bank to pay money, there is no problem in depositing money. It is possible to deposit money very quickly and easily. But when it comes to withdrawing money, there are some conditions that sometimes make us annoyed, especially when we have to stand in line under the pressure of more people withdrawing money, which is even more annoying. Therefore, Bitcoin has been created to provide the most convenience to people.

[Cyber_warrior]

It is ridiculous how a person will have some difficulty accessing your own money, like your hard earned money that a person deposited easily, I remember few days ago I was telling a relative that I was tired of saving my money in the physical bank, because why on earth should I be receiving a debit alert from unknown charges or service from the bank, and I told my relative that I really need to start operating fully on Bitcoin because if I was using Bitcoin I would not have been experiencing such thing as unnecessary charges or issues access my money when I need it, and honestly Bitcoin is exceptional and can not be compared to any other assets and saving methods.

I think when it comes to saving of money, I mean keeping money safe to use in the future, then bitcoin is not the best. Let not forget that bitcoin is a volatile asset, which means it could change, which mean you can get very less or more than you save, or you can get more of what you have saved. So it not best to save in bitcoin but rather you can invest in bitcoin.

I believe money we save is money we plan to use in the future, then imagine you now finally want to use your money and you find out it have loss so much value, because at that time there is a dip in the market. It is very advisable to save in fiat than in Bitcoin.

[PVequalNRT]

Yes, it is absolutely true because when I go to the bank to pay money, there is no problem in depositing money. It is possible to deposit money very quickly and easily. But when it comes to withdrawing money, there are some conditions that sometimes make us annoyed, especially when we have to stand in line under the pressure of more people withdrawing money, which is even more annoying. Therefore, Bitcoin has been created to provide the most convenience to people.

Online banking has helped a lot, I can't remember the last time I went to the bank to make any deposit cash. I don't even use commercial banks like before since microfinance has made payment smooth and faster. You rarely see anyone with phone and internet make use of cash system. But they have their conditions too, there are limits to how much you can send and how much you can spend a day. Unlike Bitcoin that a billion worth are sent out without any restrictions.

I think that Bitcoin is one of the best thing that has happened to mankind. If there was never Bitcoin, I don't think people will know about their right and privacy, the government could literally put us in one space without proper air to breath.

[L E G E N D A R Y]

Yes, it is absolutely true because when I go to the bank to pay money, there is no problem in depositing money. It is possible to deposit money very quickly and easily. But when it comes to withdrawing money, there are some conditions that sometimes make us annoyed, especially when we have to stand in line under the pressure of more people withdrawing money, which is even more annoying. Therefore, Bitcoin has been created to provide the most convenience to people.

Honestly, I can’t remember the last time I stood on a queue just to withdraw money. Well maybe that’s because I haven’t been to the bank lately for my transactions as I mostly make all my transactions online at the comfort of my home, I mean everything has been digitalized already. But still, that doesn’t mean that the banking system is still anywhere close to using Bitcoin, you’re right by saying banks can restrict people from accessing their own money for some reasons, and that can be very frustrating, which you never get to see when using Bitcoin, you call all the shots because you’re your own bank.

[macson]

Forcing someone to invest and encouraging someone to invest by force is putting yourself in danger. Because the person you are forcing to invest is not aware of the risks of investing and when he invests, if the market falls, he may be afraid and sell his holdings and if he faces a loss, he may blame you for the loss. So encouraging someone to invest on his own or forcing him to invest is not the right decision at all.
-.-

I don't see what we gain by forcing someone to invest in Bitcoin. Investing should be a personal decision and done based on that person's willingness. If they're still reluctant and not interested in Bitcoin, then it just means they simply don't like it, and we don't need to force them. It's pointless to make them do it, we won't get anything out of it except tiring ourselves out trying to convince people who don't believe in Bitcoin.

Everyone has their own preferences. So if they're not interested or not ready, there's no need to force them to invest --- especially promising significant profits if they put their money into Bitcoin. That will only end up hurting yourself.

[Tonimez]

Forcing someone to invest and encouraging someone to invest by force is putting yourself in danger. Because the person you are forcing to invest is not aware of the risks of investing and when he invests, if the market falls, he may be afraid and sell his holdings and if he faces a loss, he may blame you for the loss. So encouraging someone to invest on his own or forcing him to invest is not the right decision at all.
-.-

I don't see what we gain by forcing someone to invest in Bitcoin. Investing should be a personal decision and done based on that person's willingness. If they're still reluctant and not interested in Bitcoin, then it just means they simply don't like it, and we don't need to force them. It's pointless to make them do it, we won't get anything out of it except tiring ourselves out trying to convince people who don't believe in Bitcoin.

Everyone has their own preferences. So if they're not interested or not ready, there's no need to force them to invest --- especially promising significant profits if they put their money into Bitcoin. That will only end up hurting yourself.

There are people who try to convince others to follow their own ideology without being patient for the person to understand his idea before following it hook, line and sinker. To convince such people, these set or sweet mouthed folks go to the extent of giving assurance to the beginners and promising them good returns and in a very short period simply because they wan t to make everywhere look so juicy in order to attract such individuals.

It's not like when these people make their gains they will easily share it with you, why risk your trust and pride trying to convince such people? People have gone to the extent of telling the beginners things like, "If you don't make huge gains in less than 2 years, hold me responsible". They say this with assumptions that bitcoin will rise

In most cases, volatility will set in and the beginners will start regretting taking your advice because he thought that everything will all be like you explained without them knowing the ugly side of bitcoin and how prepared a person is to welcome volatility. So we should limit our persuasion while trying to convince people to invest in bitcoin.

[Daniel91]

Forcing someone to invest and encouraging someone to invest by force is putting yourself in danger. Because the person you are forcing to invest is not aware of the risks of investing and when he invests, if the market falls, he may be afraid and sell his holdings and if he faces a loss, he may blame you for the loss. So encouraging someone to invest on his own or forcing him to invest is not the right decision at all.
-.-

I don't see what we gain by forcing someone to invest in Bitcoin. Investing should be a personal decision and done based on that person's willingness. If they're still reluctant and not interested in Bitcoin, then it just means they simply don't like it, and we don't need to force them. It's pointless to make them do it, we won't get anything out of it except tiring ourselves out trying to convince people who don't believe in Bitcoin.

Everyone has their own preferences. So if they're not interested or not ready, there's no need to force them to invest --- especially promising significant profits if they put their money into Bitcoin. That will only end up hurting yourself.

In fact, the worst thing we can do when talking to friends and other people about bitcoin is to promise them big, fast profits and try to motivate them to invest in bitcoin.
We should first explain to them all the risks of investing in bitcoin and cryptocurrencies in general, and then explain the benefits, such as diversifying the portfolio into other, riskier asset classes with higher potential returns over the long term and preserving the value of the assets against annual inflation, etc.
Only when someone understands all the potential risks and benefits of investing in bitcoin can that person make an informed and rational decision about whether investing in bitcoin is the right decision for them or not.
Making promises of big profits to convince someone to invest in bitcoin often leads to disappointment, losing money due to quick withdrawals, and breaking up friendships.

[liasbaa]

Yes, it is absolutely true because when I go to the bank to pay money, there is no problem in depositing money. It is possible to deposit money very quickly and easily. But when it comes to withdrawing money, there are some conditions that sometimes make us annoyed, especially when we have to stand in line under the pressure of more people withdrawing money, which is even more annoying. Therefore, Bitcoin has been created to provide the most convenience to people.

Honestly, I can’t remember the last time I stood on a queue just to withdraw money. Well maybe that’s because I haven’t been to the bank lately for my transactions as I mostly make all my transactions online at the comfort of my home, I mean everything has been digitalized already. But still, that doesn’t mean that the banking system is still anywhere close to using Bitcoin, you’re right by saying banks can restrict people from accessing their own money for some reasons, and that can be very frustrating, which you never get to see when using Bitcoin, you call all the shots because you’re your own bank.

They tempt you to keep money in the bank but when you need to withdraw it, they will give you various reasons and discourage you from withdrawing money. Surprisingly, you will not be able to withdraw money as per your requirement even in times of emergency. I faced such situation more than once and I had arguments with the people working in the bank. Finally I closed the bank account and I do not do any transaction in the bank now except for emergency. I do not save money in the bank because there is no point in keeping money where I do not have freedom. Now I'm accumulating Bitcoin regularly and keep cash available for emergency expenses. I'm buying Bitcoin with extra funds because even though fiat is a traditional monetary system, there is a possibility of depletion if you keep more than you need because inflation is increasing.

[GGGary33]

They tempt you to keep money in the bank but when you need to withdraw it, they will give you various reasons and discourage you from withdrawing money. Surprisingly, you will not be able to withdraw money as per your requirement even in times of emergency. I faced such situation more than once and I had arguments with the people working in the bank. Finally I closed the bank account and I do not do any transaction in the bank now except for emergency. I do not save money in the bank because there is no point in keeping money where I do not have freedom. Now I'm accumulating Bitcoin regularly and keep cash available for emergency expenses. I'm buying Bitcoin with extra funds because even though fiat is a traditional monetary system, there is a possibility of depletion if you keep more than you need because inflation is increasing.

Or you can't even open a bank account because you lack certain documents or they have questions that you can't answer. At least that's one of my worst experience in our local bank and good thing is that I discovered Bitcoin.

And so with that, not just here, but I read that in Africa, those un-bank totally go to Bitcoin to save their money and then make profits too specially in they are going to hold on it for a long time and like considering it as a time deposit in a bank.

[Jubilee58]

https://www.instagram.com/reel/Dd9MVAtu4M0/?stkn=MTd4d3RvaHVzbzVhbw==

That Instagram video depicts the advantage Bitcoin has over the traditional financial system, with that video you need not say much again to describe what you as an individual will gain from Bitcoin.

Also the video expatiate the financial slavery of the traditional financial system in such a short video, the burdens you need to bear to get your own property and shows that it is not truly yours in the traditional financial system.

Personally, am not ignorant of the disadvantage involved in holding traditional or fiat currency. Traditional currency is actually very weak, and that is because it is totally in control of the government in authority, and exactly this reason is why Satoshi Nakamoto introduced Bitcoin as a decentralized cryptocurrency through which users, and investors will gain financial stability. Bitcoin is never affected by inflation or depreciate in price on the long run rather the asset keep growing in value on the long run.
Many traditional currencies are suffering inflation today because the government is unable to maintain stability, therefore as a beginner you are encouraged to invest your money in Bitcoin rather than storing it in the bank because it can only loose value there.

[Sally9256]

Personally, am not ignorant of the disadvantage involved in holding traditional or fiat currency. Traditional currency is actually very weak, and that is because it is totally in control of the government in authority, and exactly this reason is why Satoshi Nakamoto introduced Bitcoin as a decentralized cryptocurrency through which users, and investors will gain financial stability. Bitcoin is never affected by inflation or depreciate in price on the long run rather the asset keep growing in value on the long run.
Many traditional currencies are suffering inflation today because the government is unable to maintain stability, therefore as a beginner you are encouraged to invest your money in Bitcoin rather than storing it in the bank because it can only loose value there.

Your advise to beginners is right but traditional fiat currency is weak not just because it is controlled by the government alone, it has several reasons why it is considered not ideal especially when trying to use it to preserve wealth for the long term. Fiat can be affected by inflation, depreciation of the currency and it can also loss it's purchasing power with time. Bitcoin was truly invented to solve some problems of fiat currency and give users financial freedom but I won't say it was designed to give financial stability. Bitcoin is volatile, the price fluctuates up and down and can hardly give stability, although for the long term can be useful to preserve wealth.

[Catenaccio]

Fiat can be affected by inflation, depreciation of the currency and it can also loss it's purchasing power with time.

Inflation is from fiat currencies in all nations because governments order central banks to print more money with time. The money printing rates in different nations are different with each other and even in one country, the rate is different over time and under different president administration.

Fiat currencies are not affected by inflation, they are the causes, not reasons, and consequences are suffered by other industries, and citizens.

Bitcoin was truly invented to solve some problems of fiat currency and give users financial freedom but I won't say it was designed to give financial stability. Bitcoin is volatile, the price fluctuates up and down and can hardly give stability, although for the long term can be useful to preserve wealth.

Bitcoin is not stable so Bitcoin was not created to provide financial stability. It was created as P2P payment system through a decentralized blockchain, and bitcoin owners have private keys to completely control their bitcoins, and have their bitcoin banks.

It gives people something they can completely control and avoid control of central bank, commercial banks and governments. People only needs to own bitcoin keys to control their bitcoins.