Reason why we have to choose Bitcoin?
Why would I invest in bitcoin?
All sorts of
reasons ranging from pure curiosity to love of new technology to investment
diversification. Bitcoin is used as currency to buy things and as a store of
value, i.e., a place to house your savings with hopes of value appreciation or
hedging against the depreciation of stocks or savings held in fiat currency.
One example often used is that of Cyprus. Are you familiar with the country of
Cyprus and it's severe monetary crisis from a few years back? It was so bad
that the Cyprus government controlled how much money their citizens could take
out of their banks. Think about that. That government telling you that you
can't access your very own money! How scary is that? Bitcoin offers an
alternative. No government (currently) can seize control of your bitcoin, this
represents safety and security.
What's the difference between bitcoin and dollars?
Dollar you is a
Real money which mean you can directly spend it. and Bitcoin isn't regulated by
any government.so basically Bitcin doesn't exist!, It isn't created "out
of thin air" as fiat currency is. There will only ever be a finite amount
of bitcoin, which controls it's value. Once all bitcoin is mined there will be
21 million in existence, that's it. No one can ever create more (as is done every
year with fiat currency). When fiat currency is created by central banks they
reduce the value of the existing currency in the market, which results in
inflation of prices. This is why the price of every day things (that haven't
changed in 50 years, like groceries or utilities) have gone up in price over
time. There's a lot of other differences, but it's better for you to read up on
them.
Why would I gamble with bitcoin?
I don't, but if you want to you can gamble for significantly smaller
portions of money (like cents as opposed to dollars or tens of dollars). And
you can do it from the convenience of your computer
What's The Point about Bitcoin Versus Dollar
Because there are not many reasons why you would want to use Bitcoins
instead of Dollars. If you're perfectly happy with using Dollars and don't care
about anonymity or centralization, using Bitcoins will only take away from your
overall buying/selling/shopping experience because transaction times are rarely
as fast as say paying with card or PayPal. There are a few things however that
Bitcoin can do better than existing money transfer systems like for example
having no country restrictions and no sending/receiving limits. But you can
only really appreciate these features if you have a use for them. Perhaps the
most common reason people invest in Bitcoins is because it's more a commodity
than a currency which makes it great for speculation
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