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Author Topic: Why bitcoin  (Read 20509 times)

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Re: Why bitcoin
« Reply #60 on: February 15, 2024, 12:24:19 PM »
Probably because Bitcoin is the most popular crypto among others. Bitcoin is decentralized and there are some other decentralized projects as well. But, when you have the most trusted options, why would you go for less trusted decentralized options unless you have some extra benefits?

Bitcoin has been there for over a decades now and the network already proved itself. In comparison, newer projects needs to prove themself and it will take time to gain trust and attention from the community.
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Re: Why bitcoin
« Reply #60 on: February 15, 2024, 12:24:19 PM »

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Re: Why bitcoin
« Reply #61 on: February 15, 2024, 12:36:33 PM »
Why should I transact with bitcoin? 
Is there any advantage bitcoin has over normal currencies? 
Someone pls, explain to me with clarity
Considering the fact that Bitcoin was created to server as a p2p medium of exchange which is quite the opposite of what our fiat currencies offer, the security and irreversible protocol showcased the difference between them. But due to the current value of Bitcoin, it's now serves as an investment. But when you want to know the benefits of bitcoin, security is a major factor to consider.
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Re: Why bitcoin
« Reply #62 on: April 06, 2024, 05:50:25 PM »
Why bitcoin? It's obvious bitcoin already performed in decades so no questions  about that, the value it already proved to us.


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Re: Why bitcoin
« Reply #64 on: April 19, 2024, 11:11:14 PM »
Why Bitcoin is because it is king of all crypto, it is through her other coins are made and known. You can talk about crypto without first mentioning Bitcoin. Bitcoin can stand in the fate of time and hodling for it long can give maximum profits in the future.
However, what this means is why you should use Bitcoin as a transaction tool compared to fiat. Yes, because Bitcoin provides wider freedom for its users to transact, by and for anyone in the world, globally. and stick to the principle of privacy, because bitcoin is more decentralized. And it can also be done at any time without any time restrictions or working days. So the process will still be faster, with costs that are sometimes cheaper and the speed is quite fast, without there being a lot of regulations involved.

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Re: Why bitcoin
« Reply #65 on: April 20, 2024, 12:10:41 AM »
Why Bitcoin is because it is king of all crypto, it is through her other coins are made and known. You can talk about crypto without first mentioning Bitcoin. Bitcoin can stand in the fate of time and hodling for it long can give maximum profits in the future.
However, what this means is why you should use Bitcoin as a transaction tool compared to fiat. Yes, because Bitcoin provides wider freedom for its users to transact, by and for anyone in the world, globally. and stick to the principle of privacy, because bitcoin is more decentralized. And it can also be done at any time without any time restrictions or working days. So the process will still be faster, with costs that are sometimes cheaper and the speed is quite fast, without there being a lot of regulations involved.

Borderless will be the key feature as you have describe it. Tried it many times before, like in 2018 wherein I send someone Bitcoin in Dubai and she got it right away and then exchange it to Fiat as she needed it that time. Lots of advantage of having bitcoin now, although we can still hear negative things about it even at this day, still they can't put up a argument that it does give us financial freedom.

And also as hedge and store of value and investment. Rightn now we are almost in the halving, people are excited as what the future will bring to us this bull run as we are all looking at 6 digits and imagining our profits already.

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Re: Why bitcoin
« Reply #66 on: April 24, 2024, 04:19:30 PM »
Well of course Bitcoin offers more than enough advantages more over traditional system of payments.
The decentralized nature of bitcoin alone is one of the greatest advantages amongst others, because It makes bitcoin to operate independently without external interference of central banks, government authorities as well as other financial institutions, which means you as an individual have full control over your own money without anyone telling you what to do with it.

Then moving down to the security that bitcoin offers to its users. Bitcoin transacts are highly secured by advanced technologies known as Blockchain technology and cryptography, which makes it  irreversible and tamper proof.

Need I to also mention that you transaction with bitcoin globally, sending money to anywhere around the world regardless of borders or time zones. There are just so many importance and I can't list them all.

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Re: Why bitcoin
« Reply #66 on: April 24, 2024, 04:19:30 PM »


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Re: Why bitcoin
« Reply #67 on: April 24, 2024, 11:40:01 PM »
Why Bitcoin is because it is king of all crypto, it is through her other coins are made and known. You can talk about crypto without first mentioning Bitcoin. Bitcoin can stand in the fate of time and hodling for it long can give maximum profits in the future.
However, what this means is why you should use Bitcoin as a transaction tool compared to fiat. Yes, because Bitcoin provides wider freedom for its users to transact, by and for anyone in the world, globally. and stick to the principle of privacy, because bitcoin is more decentralized. And it can also be done at any time without any time restrictions or working days. So the process will still be faster, with costs that are sometimes cheaper and the speed is quite fast, without there being a lot of regulations involved.

Borderless will be the key feature as you have describe it. Tried it many times before, like in 2018 wherein I send someone Bitcoin in Dubai and she got it right away and then exchange it to Fiat as she needed it that time. Lots of advantage of having bitcoin now, although we can still hear negative things about it even at this day, still they can't put up a argument that it does give us financial freedom.

And also as hedge and store of value and investment. Rightn now we are almost in the halving, people are excited as what the future will bring to us this bull run as we are all looking at 6 digits and imagining our profits already.
Wow, this is definitely a very fun experience for using Bitcoin as a transaction tool. And indeed, if used as a global payment method, Bitcoin provides various conveniences for its users, without complicated administration and also taking up very fast time.

Ah, unfortunately, in my country Bitcoin is legal like in others to be used as a means of payment. Then it will become more complete for Bitcoin ownership. So it is not only legal as an investment or trading tool but also a transaction tool. We hope that all things related to Bitcoin, in particular, will soon be accepted and its adoption will become more widespread.

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Re: Why bitcoin
« Reply #68 on: April 25, 2024, 01:29:12 AM »
Why Bitcoin is because it is king of all crypto, it is through her other coins are made and known. You can talk about crypto without first mentioning Bitcoin. Bitcoin can stand in the fate of time and hodling for it long can give maximum profits in the future.
However, what this means is why you should use Bitcoin as a transaction tool compared to fiat. Yes, because Bitcoin provides wider freedom for its users to transact, by and for anyone in the world, globally. and stick to the principle of privacy, because bitcoin is more decentralized. And it can also be done at any time without any time restrictions or working days. So the process will still be faster, with costs that are sometimes cheaper and the speed is quite fast, without there being a lot of regulations involved.

Borderless will be the key feature as you have describe it. Tried it many times before, like in 2018 wherein I send someone Bitcoin in Dubai and she got it right away and then exchange it to Fiat as she needed it that time. Lots of advantage of having bitcoin now, although we can still hear negative things about it even at this day, still they can't put up a argument that it does give us financial freedom.

And also as hedge and store of value and investment. Rightn now we are almost in the halving, people are excited as what the future will bring to us this bull run as we are all looking at 6 digits and imagining our profits already.
Wow, this is definitely a very fun experience for using Bitcoin as a transaction tool. And indeed, if used as a global payment method, Bitcoin provides various conveniences for its users, without complicated administration and also taking up very fast time.

Ah, unfortunately, in my country Bitcoin is legal like in others to be used as a means of payment. Then it will become more complete for Bitcoin ownership. So it is not only legal as an investment or trading tool but also a transaction tool. We hope that all things related to Bitcoin, in particular, will soon be accepted and its adoption will become more widespread.

Yes, our country is somewhat in open with Bitcoin, but not legally yet, but we enjoy Bitcoin since last 2017 where there is a boom in our country. We even have our local crypto exchange like coins.ph that really facilitate everything for us.

And it grows tremendously, althoug Bitcoin is not yet accepted, not a few stores here and there.

Nevertheless, we all know that sooner or later we will see it expand and grows across the globe.

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Re: Why bitcoin
« Reply #69 on: April 25, 2024, 08:53:06 AM »
Why Bitcoin is because it is king of all crypto, it is through her other coins are made and known. You can talk about crypto without first mentioning Bitcoin. Bitcoin can stand in the fate of time and hodling for it long can give maximum profits in the future.
Bitcoin is one of the most trusted cryptocurrency coins and Bitcoin is one of the most important cryptocurrency coins. Bitcoin does not depend on all other coins in the market but all other coins in the market directly depend on Bitcoin. Many of us may not know about crypto currencies but we definitely know about Bitcoin. Bitcoin is called the king of cryptocurrencies. Before investors decide which coin to invest in, they make a part of the investment in Bitcoin and the rest in any one of the ALT coins. Apart from these, there are many other reasons why Bitcoin is so popular.

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Re: Why bitcoin
« Reply #70 on: April 25, 2024, 08:38:51 PM »
There are many reasons why it has to be bitcoin in cryptocurrency, this is not because is the first digital crypto, but because there is much about bitcoin being recognized as the only most valuable digital currency, we need to know why its acceptance is global, why everyone is more interested in crypto because of bitcoin and why its the only asset of investment we don't have to exhibit fear of missing out, not to talk about how decentralized it network operates and how faster the transactions.

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Re: Why bitcoin
« Reply #71 on: April 27, 2024, 09:34:53 AM »
There are many reasons why it has to be bitcoin in cryptocurrency, this is not because is the first digital crypto, but because there is much about bitcoin being recognized as the only most valuable digital currency, we need to know why its acceptance is global, why everyone is more interested in crypto because of bitcoin and why its the only asset of investment we don't have to exhibit fear of missing out, not to talk about how decentralized it network operates and how faster the transactions.
I've always believed that Bitcoin's decentralised nature is one of the most important features that makes it to stand out, I mean not having any central authorities makes it unique because no one can make new bitcoins unlike other currencies. This has made bitcoin safe from inflation and other factors that could have eaten it up.

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Re: Why bitcoin
« Reply #72 on: April 28, 2024, 12:22:15 AM »
Why should I transact with bitcoin? 
Is there any advantage bitcoin has over normal currencies? 
Someone pls, explain to me with clarity
You need to understand that the value of Bitcoin is huge and it has great influence on altcoins. So you don't have to understand estimate the power of what Bitcoin amcan do in the market.

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Re: Why bitcoin
« Reply #73 on: April 30, 2024, 08:13:07 PM »
I've always believed that Bitcoin's decentralised nature is one of the most important features that makes it to stand out, I mean not having any central authorities makes it unique because no one can make new bitcoins unlike other currencies. This has made bitcoin safe from inflation and other factors that could have eaten it up.

You are right, decentralization is one of the reasons why it has become so popular because for the first time in forever, the world was given a financial asset that was completely decentralized and was completely in control of its system without the intervention of any centralized authority. Other than that, the limited supply made it unique because it is scarce and as the demand increases, its value increases with it.

However, nowadays, most people are interested in Bitcoin or cryptocurrencies because they have volatiles values and they go up and down which creates opportunities for them to gain profit when they buy them low and sell them high, but the properties and benefits of Bitcoin are unmatchable despite all other things.
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Re: Why bitcoin
« Reply #74 on: April 30, 2024, 09:03:42 PM »
I've always believed that Bitcoin's decentralised nature is one of the most important features that makes it to stand out, I mean not having any central authorities makes it unique because no one can make new bitcoins unlike other currencies. This has made bitcoin safe from inflation and other factors that could have eaten it up.

You are right, decentralization is one of the reasons why it has become so popular because for the first time in forever, the world was given a financial asset that was completely decentralized and was completely in control of its system without the intervention of any centralized authority. Other than that, the limited supply made it unique because it is scarce and as the demand increases, its value increases with it.
Yeah bitcoin having limited supply is also aiding Bitcoin in so many ways, asides it's limited supply making Bitcoin scarce, it also shields the asset from Inflation, unlike every other traditional currencies.
Throughout these years, Bitcoin has been free from Inflation which is a very big, in fact one of the greatest problems fiat currencies are facing globally making those fiat currencies to lose its values and worth overtime. But bitcoin being immune to inflation has the potential of always increasing overtime.

 

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