Remind yourself

[Exitoral]

Hence the creation of Bitcoin. Which is very good. But even if as Bitcoin seems to be the only hope, which is not the only hope to the ever increase of inflation; we still have to put in mind that there is constant change. As everyone believes in Bitcoin hope it's not were we put all our eggs. We still have to spend to build something that produces and contributes to the economy. Yes, Bitcoin holdings is good. But build something of value. Bitcoin is somebodies else's own. Where's yours?

There are people of great influence who believes they can do what they want. Which is not always true. Best you control what you can control and work hard to start controlling what you can't before.

[ZAINmalik75]

I will never forget but I can't say the same about others, because some people are excited that you can give the banks your Bitcoin and take loans then get your Bitcoin back when you pay your loan, is this a good thing for someone who cares about privacy and also despise the banks so much? I don't think so, banks are nobody's friend, Bitcoin shouldn't even reach near the banks.

Whether we like it or not, Bitcoin will eventually reach the banks, because if there are so many people who care about their privacy and that's why they are using Bitcoin, there are more people who barely care about these things and for them, Bitcoin is nothing more than any other normal asset that they can use to make money and also use it as collateral to take loans and do whatever other financial things they can even if they have to compromise on their privacy for this. Such people don't treat Bitcoin as something that can allow them to stay private with their finances and financial holdings.

You won't believe it, but there are people out there who might be involved with cryptocurrencies, making investments or trades on centralized exchanges, but they don't know anything about decentralization or understand what it means and how useful it is. They only know one thing, and it is that Bitcoin has a volatile price value which is why they can buy and sell it for profits, and that's it. So, what can you expect from such people? They wouldn't even think twice before giving their bitcoins to a bank to get a loan if they want.

[Call_Me_Guru]

Bitcoin on the other hand is a savior, it keeps hedging against inflation, stop centralised control and keeps the hope of a better economy to the community of adopters alive.

Bitcoin can't just changer the economy of a country or state but it can change your personal economy because that has to do with an individual and not when it has to do with a country,'s economy because Bitcoin can also be misused or mismanaged by the politicians.

We are on the same page. My use of economy is not about a country's economy, but about the community economy. Who are the people who forms community? The individual who adopted Bitcoin. This could be anyone seeking financial freedom, ease of transaction, or shield from the centralized control. Bitcoin is doing this beautifully. No regrets dealing with it so far and there won't be. I will keep buying to save my person economy.

[danadc]

So many coins are lost already; I don't know how much but probably it's already 1 million coins which are lost, making Bitcoin even scarcer.

And that's what makes BTC so valuable. There are many stories of people losing BTC, and those BTC are unrecoverable; they're gone. That's what makes BTC more valuable every time. No one can own 100% of BTC. It's scarce, and that's why it's said to be the asset of the future, the only one through which all transactions will be handled, because its system is perfect. I don't see any flaws. It doesn't depend on anyone. Anyone can acquire BTC for any price. It's accessible. It's a major blow to the elite who have always wanted to control everything.

[Oshio-man]

I will never forget but I can't say the same about others, because some people are excited that you can give the banks your Bitcoin and take loans then get your Bitcoin back when you pay your loan, is this a good thing for someone who cares about privacy and also despise the banks so much?

It depend the country you came from op, there are some country you will use your bitcoin to collect loan it will make you to create plenty enemies around you or it will make the bankers to put their eyes on you Incase bitcoin is ban in that country you will be the first person they will refer police to get you arrested, but if you don't let bank officials know about your bitcoin and it will make your privacy solid  and it will make your bitcoin save in your walle until you sell your bitcoin to settle your debt, but for me, even though bitcoin is legalize in my country today, I don't think I will use bitcoin to collect loan because I know what will happen when I fall to pay back the funds.

[Hamza2424]

There can never be one means to solving an issue that is affecting humans on a global scale, even within a nucleated community. I have never seen Bitcoin to be of such capacity and probably never will. If the rest of the world were to shift to Bitcoin, a currency that is limited and its value is determined by demand, we would still have the issue of valuation on how this would apply to buying and selling as, merchants wouldn’t know how to properly value their goods or service.
If the price was to be standardized, then we would have the problem of getting it into the hands of the poeple as, population is always on the rise.

Hence, there would always be the need to have alternatives be it currency or paths to solving other problems ravishing the world. We can’t really live in a world without issues, we can’t have it all figured out and so can’t Bitcoin.

Valuation can be a problem, but they can just use pounds to value their products and services in BTC. For example, I sell one thing for 10 pounds. I will simply convert how much BTC I can get for 10 pounds and charge that instead. Simple. But the real problem is the high fees and the time it takes to process a single transaction.

That's what I was trying to say, what you said in the last lines. It can't solve everyone's problems, it's just an alternative, so be smart and use it for your own good. We can't take everyone into heaven either, even if we want to. The decision is theirs to make, what they do and what they believe.

[Smartvirus]

Valuation can be a problem, but they can just use pounds to value their products and services in BTC. For example, I sell one thing for 10 pounds. I will simply convert how much BTC I can get for 10 pounds and charge that instead. Simple. But the real problem is the high fees and the time it takes to process a single transaction.

Of course you can do that, it’s an option and even available today for some merchants that have taken the bold step to start accepting Bitcoin.

Here is where the problem rests on, its volatility.
You valued product by £10 pounds and collected that equivalent in Bitcoin. Now, you have Bitcoin valued at £10 with the prevailing market condition.

Then, Bitcoin dumps and you are yet to restock. That’s part of your profit or even a bit into your cost price gone. That’s what I’m trying to make you understand.

[Bitcoin-Forever]

But even if as Bitcoin seems to be the only hope, which is not the only hope to the ever increase of inflation; we still have to put in mind that there is constant change. As everyone believes in Bitcoin hope it's not were we put all our eggs.

In as much as I will always support for diversification, I will also ensure that I encourage people to consider Bitcoin first before any other alternative could set in, we can look at bitcoin performance right from the start and see how far we have gone to this day, this will give us the full confidence on why we should consider for Bitcoin, there are also profitable assets aside this and it is not smart enough to have all our eggs on the same basket, it is also a wise decision that bitcoin constitutes the major portfolio we are having.

[Hamza2424]

Of course you can do that, it’s an option and even available today for some merchants that have taken the bold step to start accepting Bitcoin.

Here is where the problem rests on, its volatility.
You valued product by £10 pounds and collected that equivalent in Bitcoin. Now, you have Bitcoin valued at £10 with the prevailing market condition.

Then, Bitcoin dumps and you are yet to restock. That’s part of your profit or even a bit into your cost price gone. That’s what I’m trying to make you understand.

Bro, you really thought you had to make me understand it! Haha, I already understand the pros and cons of this. I have given it my full thoughts already. I also build and run a few things, and payment methods for BTC have always been my suggestion, but they never took it.

Bro, what do you think? Who would accept BTC as payment and even give discounts to customers and bonuses to their employees if they take their salaries in BTC? Steak 'n Shake is one, but why?

Don't they care about all these losses you said? I know a few members, after reading it, will come here to burst my balls, haha, as they tried before, but still, it all depends on your business model and the money you have. Volatility is not a problem if you have enough money. If you only rely on the profits, then you can't accept BTC.

[Smartvirus]

Bro, what do you think? Who would accept BTC as payment and even give discounts to customers and bonuses to their employees if they take their salaries in BTC? Steak 'n Shake is one, but why?

Don't they care about all these losses you said?

Steal ‘n Shake is no small business my friend, they are a huge restaurant and one of the very best championing the course for accepting Bitcoin payments today because, they view it to go beyond being a currency but, as an investment idea. This is a company that is said to have over $10m in Bitcoin reserves and most of their payments for purchases with Bitcoin goes straight to that reserve. It’s a completely different model of operation that focuses on holding. When you’re about that, you wouldn’t care very much about what’s happening on the market. Besides, which ever losses that you might incur in a dump, of course you can always bounce right back in a pump.
It’s a lot different for businesses expecting turn overs to restock and don’t have the patience to wait on the market to do its thing.

still, it all depends on your business model and the money you have. Volatility is not a problem if you have enough money. If you only rely on the profits, then you can't accept BTC.

Let’s get this straight, people go into business and certain investments for profit making, it’s not an NGO and you don’t need to have a huge amount of money to run a business. We still have petty traders here and yeah, it can depend on the model of business but, a currency shouldn’t be that selective don’t you think…?

[Solokan]

Indeed due to the relentless inflation, we clearly need to think about how to protect our money from inflation. If we don't take steps to protect our money from inflation, it will inevitably be affected by inflation, and its value will inevitably decrease due to rising prices

Investing in btc is indeed one way to protect against inflation, and those who have held btc have certainly proven this. However, I believe it's still necessary to remain vigilant because investing in BTC also carries risks. I certainly believe investing in BTC is necessary as it's also necessary to invest in gold, land, and other assets. We also need to keep money in the bank, for example, for emergency funds and other purposes

[Olatundespo]

Indeed due to the relentless inflation, we clearly need to think about how to protect our money from inflation. If we don't take steps to protect our money from inflation, it will inevitably be affected by inflation, and its value will inevitably decrease due to rising prices

Investing in btc is indeed one way to protect against inflation, and those who have held btc have certainly proven this. However, I believe it's still necessary to remain vigilant because investing in BTC also carries risks. I certainly believe investing in BTC is necessary as it's also necessary to invest in gold, land, and other assets. We also need to keep money in the bank, for example, for emergency funds and other purposes

You are right. They need to know what inflation is and how it is affecting a person cash and earned funds. In fact if a person is well aware of the negative effects of inflation he will want to know how to use his funds to prevent the loss of those funds. When inflation hits a country most people suffer financially because their purchasing power decreases.

An investor can only use his funds properly by investing in Bitcoin by using a planned investment strategy. Bitcoin is for long term investment and you need to be in Bitcoin accumulation regularly. Bitcoin is an important hedge against inflation. Accumulation Bitcoin not only to prevent money loss but also to build future wealth just like investors buy and hold gold or invest in real estate. I think holding Bitcoin can be more profitable than real assets.

[Somegory]

Bitcoin on the other hand is a savior, it keeps hedging against inflation, stop centralised control and keeps the hope of a better economy to the community of adopters alive.

Bitcoin can't just changer the economy of a country or state but it can change your personal economy because that has to do with an individual and not when it has to do with a country,'s economy because Bitcoin can also be misused or mismanaged by the politicians.

We are on the same page. My use of economy is not about a country's economy, but about the community economy. Who are the people who forms community? The individual who adopted Bitcoin. This could be anyone seeking financial freedom, ease of transaction, or shield from the centralized control. Bitcoin is doing this beautifully. No regrets dealing with it so far and there won't be. I will keep buying to save my person economy.

I am quite lost, what do you mean by the individual who adopted Bitcoin forms a community? Are you using this forum as an example or your real world community? Because that can never be true, there must be many people in your community who don't care about Bitcoin.

Correct me if I am wrong, today many people still believe that Bitcoin is the perfect scam because it lived so longer than other scam innovtion, they are still waiting for a day where things will fall apart.

Bitcoin is only useful for people who thinks different and this type of people aren't even many in this world, even some Bitcoin investors are only investing to make quick money and that's all they don't care if Bitcoin is decentralised.

[TheUltraElite]

A deflationary currency is indeed needed to counter the inflation and that is one of the things bitcoin solves for now. The currencies that we are using will never go out of service because the adoption is 100%.  But then the choice to own and spend bitcoin is a personal one. Still economic decline of fiat is too much to work with.

For those who have been using bitcoin will find less merchants directly accepting bitcoin but gift cards are available and could be used. Hence its not that merchants are completely away from bitcoin, they are allowing use of coins but under cover of gift cards and all.