Do we need bitcoin?

Caleb

New member
Bitcoin is a currency started by developers that were interested in the idea of sending online payment without a central authority that would check the accounts. The idea and the whole thing (with Satoshi Nakamoto, blockchain technology etc) inspired many people to use it. And some of them, worked on it. Due to this big adoption and fixed supply, bitcoin went to moon. At least for a while, but it did. And right now it is high as well.

Well, do we need it? Because, I can see that people use it only as an investment or as a money laundering tool. Black markets rebornt after the creation of bitcoin. I tried to convince someone to use it, but you know what? I couldn't. Why? Well, honest people don't afraid the central authority, in addition with the dishonest ones. Those who want something that is illegal, cannot do that. So they use bitcoin.

Governments don't want it and they wish they could prevent it, because they cannot track you easily, they cannot tax you, they ..., they ..., they...
Governments like censorship, and there is 0% censorship on bitcoin.

I like bitcoin, a lot. But I don't think that this world needs it. Except if they want to hide something. Prove me wrong.
 

Kairo

New member
I also like bitcoin because it helps me a lot before when I am not using bitcoin I can't buy things I want but when I enter the world of crypto it gives me a chance to get what I want and what I need. This is a somehow similar experience with my friends because we entered the world of crypto at the same time.

Our world needs it because it gives us a chance to earn money, there are some people who are now that comfortable working outside their home so this bitcoin cryptocurrency helps them to earn money even though they are at their home. It also gives them a chance to save their money and making it profitable at the then long term through investing. Investing is risky but the excitement and thrill give it happiness on me.
 

Cruz

New member
Because, I can see that people use it only as an investment or as a money laundering tool.
This is simply false. Yes, a lot of people use it for unethical purposes, but the percentage is minuscule.
I like bitcoin, a lot. But I don't think that this world needs it. Except if they want to hide something. Prove me wrong.
Look. It's true that not everyone needs it, at least right now. And I'm guessing that you have such opinion because you're from a economically-healthy country. Take a look at Venezuela, Zimbabwe, and other more countries that are currently facing hyperinflation. Saying the world doesn't need it just because you don't, is being quite narrow-minded and selfish. Think outside your circle.
 

Cristian

New member
The percentage is minuscule? You mean of the honest ones, right? Find me an ethical shop that prefers bitcoin than governments cash or paypal, I'll wait.

I forgot about the donations. That was a thing, if you don't want to show any bank accounts. But as I said, to hide something.
 

Dante

New member
Bitcoin is a currency started by developers that were interested in the idea of sending online payment without a central authority that would check the accounts. The idea and the whole thing (with Satoshi Nakamoto, blockchain technology etc) inspired many people to use it. And some of them, worked on it. Due to this big adoption and fixed supply, bitcoin went to moon. At least for a while, but it did. And right now it is high as well.

Well, do we need it? Because, I can see that people use it only as an investment or as a money laundering tool. Black markets rebornt after the creation of bitcoin. I tried to convince someone to use it, but you know what? I couldn't. Why? Well, honest people don't afraid the central authority, in addition with the dishonest ones. Those who want something that is illegal, cannot do that. So they use bitcoin.

Governments don't want it and they wish they could prevent it, because they cannot track you easily, they cannot tax you, they ..., they ..., they...
Governments like censorship, and there is 0% censorship on bitcoin.

I like bitcoin, a lot. But I don't think that this world needs it. Except if they want to hide something. Prove me wrong.
Bitcoin is very important for all of us since it can be the future financial system of the whole world if the mass adaptation occurs. It will make the economy of the whole world better and the basis of country's being rich is how many Bitcoin they have on their country although hackers can hack some accounts and device to rob but different wallets will surely have a tighter security if the mass adaptation occurs so we don't need to worry unless you are using a non secured wallet.
 

Damien

New member
It's a funny question after all these years that Bitcoin is present.
I have to say that I'm involved with Bitcoin for almost 8 years now and for me the answer is definetely yes. Bitcoin appeared as alternative to fiat currencies and to my opinion it fulfilled its purpose. It helped me in difficult financial times and I think that people need to have multiple choices.
In digital era and so fast development of new technologies Bitcoin and other cryptocurrencies are very logical solution.
 

Phoenix

New member
Bitcoin is very important for all of us since it can be the future financial system of the whole world if the mass adaptation occurs.
Mass adoption isn't enough. Governments must agree with the idea too. In fiat, if the central bank gets hacked, insurance will just make a case to get your money back.
 

Lane

New member
I don't understand the term honest being used in the opening post. How does you segregate honest money and black money. If you say money issued through the bank is honest money, then I say it is wrong. Now each and everything is associated with data, and banks are the profit makers of the same.

In simple when someone goes for a loan, the bank pays certain percentage (~10%) to the central banking authority. The authority provides the right to issue the amount that's been requested as loan. That means if $10000 is requested as loan, then the bank pays $1000 to the central authority. It gives authentication to provide $10000 to the person requesting loan. Here nothing is transferred just the data. So what the bank has spend is $1000, and when it gets back it receives $10000 along with the interest.

This way with $1000 the banks circulate ten times the amount. So nothing is honest, to eliminate this intermediary bitcoin is essential in my opinion.
 

Colin

New member
I think you are in haste.
Yeah, they might not need it now and there is truth that it became just an investment.

But the answer also resides in your back story before your questions.
Adoption.
Not much merchants yet because of the volatility.
They are still afraid to lose more while using bitcoin.
But there are some merchants who are already taking the next step.

It might be difficult to explain it for now. But, when it's widely used then I don't think you will need to explain to them.
Social media is also becoming a large part to give people the right answers.
 

Rafael

New member
The percentage is minuscule? You mean of the honest ones, right? Find me an ethical shop that prefers bitcoin than governments cash or paypal, I'll wait.

I forgot about the donations. That was a thing, if you don't want to show any bank accounts. But as I said, to hide something.
Because wanting to be private automatically means you want to hide something unlawful or illegal, right? It's the old heavily flawed "nothing to hide argument" argument again. This is a very old argument and has been discussed hundreds and hundreds of times already.

Also:

https://bitcoinmagazine.com/article...ransactions-involve-illicit-dark-web-activity
https://www.coincenter.org/a-new-st...itcoin-transactions-to-exchanges-are-illicit/
https://cointelegraph.com/news/chai...lion-transacted-in-crypto-in-2019-was-illicit
 

Kyle

New member
Bitcoin is not a currency, it is money. This is an important distinction. It is the only hard virtual asset in crypto, and because of this it is essential in the modern digital world. Its decentralisation and availability for everyone helps protect wealth in times of changing government policies and even governments. It also helps to protect us from the banking elite who are determined to pursue their goal of globalisation.
 

Jorge

New member
Bitcoin is a currency started by developers that were interested in the idea of sending online payment without a central authority that would check the accounts. The idea and the whole thing (with Satoshi Nakamoto, blockchain technology etc) inspired many people to use it. And some of them, worked on it. Due to this big adoption and fixed supply, bitcoin went to moon. At least for a while, but it did. And right now it is high as well.

Well, do we need it? Because, I can see that people use it only as an investment or as a money laundering tool. Black markets rebornt after the creation of bitcoin. I tried to convince someone to use it, but you know what? I couldn't. Why? Well, honest people don't afraid the central authority, in addition with the dishonest ones. Those who want something that is illegal, cannot do that. So they use bitcoin.

Governments don't want it and they wish they could prevent it, because they cannot track you easily, they cannot tax you, they ..., they ..., they...
Governments like censorship, and there is 0% censorship on bitcoin.

I like bitcoin, a lot. But I don't think that this world needs it. Except if they want to hide something. Prove me wrong.
Government can impose tax in bitcoin holder if they want.Yes,government can't track you easily because of the blockchain technology that you used anonymously but if you're going to cash out your bitcoin and you need to exchange it first into fiat money then the government can trace your transaction through their banks or remittance center. What the government want is the centralize digital currency so that they have a full control over it. That's why it's difficult for them to accept bitcoin. Whatever the reason i still use bitcoin not just as investment but also as payment method especially now that the covid 19 virus keep on spreading.
 

Riley

New member
Due to this big adoption and fixed supply, bitcoin went to moon. At least for a while, but it did. And right now it is high as well.
Me likey Bitcoin long time too, but no, bitcoin did not went to moon because of big adoption and fixed supply. If you're keen to test this theory, just you try now and live on Bitcoin alone and no fiat for a month and see how that goes. Adoption is happening but on not many measures can you say it's in a big way. Your own question puts that notion to the gallows.
Well, do we need it? Because, I can see that people use it only as an investment or as a money laundering tool.
Money laundering tool? Where's your stats? Look back on all the major corruption and laundering cases. King of Spain. Panama papers. Danske Bank. Are any of them using Bitcoin?
 

Beckham

New member
Cash is more often used in money laundering and do you think that cash isn't even used for illegal activities? It's even the most used currency for those methods and this taboo about bitcoin must be changed.

Bitcoin is very much welcome in commercial use and from the perspective of being used illegally, that's changing into the mainstream day by day. It doesn't mean you use bitcoin because you are into illegal activities. You use bitcoin because you know that it's a good investment and a good alternative payment method.
 

Cayden

New member
Bitcoin is a store of value and the main indicator of the industry, we cant live without it
 

Jaden

New member
It is a good question.

The answer is very complex or very simple.

No we don't need it as we don't need to be alive. = True.

So I propose we want to be alive and that is why we try to stay alive.

Same for bitcoin we want it we don't need it we want it.

What to we want it for?

A shit ton long list of things.

Security.
Hedge against inflation.
Secret way to move value.


But it can be used much like a hammer can be used. It can improve the value of a real-estate property.

Buysolar and I have built and use a 115kwatt solar mining array.
We took advantage of New Jersey solar rules and there is now about 600 panels on his property.
This increased the value of his real estate property
This was legal.
We used the laws in New Jersey to be able to do this.
We used mining BTC to create a legal legit demand for power.

This allowed us to size the solar array to 115kwatt verse 40 kwatts.

This can be done in many parts of the USA.
We are looking into doing one in South Carolina.

But. to answer the question did we need to do it. No
We wanted to do it . Yes

BTW we could have used GPUs and mined ETH or ZCash.

So my answer is it is not needed it is wanted by many for lots of reasons.

I like it and want it to stick around as
It can be used to increase property value.
Via solar expansion.
But that is limited to certain areas of the world on of which I happen to live in.
 

Emerson

New member
Yes we (I) need bitcoin. Even it is volatile but it has proved its power. Bitcoin's journey From penny to thousands of dollars is amazing. It's bright future is very attractive so i need bitcoin.
 

Ronan

New member
I guess it really depends on what your definition of truly "needing' something is. Do we need our fiat currency or do we need any cryptocurrencies? Technically no. Now I know what you mean, and I disagree. There are a lot more people using bitcoin and other crytpos for payments that you're not lending any credit to. It's not just an "investment". Yes , we need it for the border-less, decentralized aspects alone.
 

Karson

New member

In my opinion, I think not necessarily because before we are living without the use of the bitcoin and we start only with the use of trade of items and them comes up with the use of the physical money by the time goes by the creator of the very well known bitcoin which is Satoshi Nakamoto wants to become decentralized all of the transactions and also want to make all the things digitalized because we are ongoing into the world of technology and why not use that only payment as an advantage and now we come up into the world of cryptocurrency and bitcoin but still there are some people who are living without the use of it and that's my perspective about if we needed the use of bitcoin.
 

Arlo

New member
We need it most these days, you will see some people that cannot even make a living because of our current state? If they know how to trade from the start, they could have save some money to try their fate on day trading. If they want to have some alternatives to digital money they could use BTC for that. As for me, it really helps me these past 3 months because I haven't gone to my usual job and the government supplies were cut off due to a lot of villages needs to prioritize their helps. I'm very thankful that I have some alternative jobs to support my basic needs and one of them is the signature campaign which I'm currently hired that also paid us with BTC.
 
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