BTC India
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Give me one good reason to buy Bitcoin. I don’t see its use case. It’s not widely accepted. It’s volatile as heck. Everyone says it’s the future of money, I don’t see how. I’ve done my research, still can’t figure out why it’s the future. I can see very litle pros comapred to the current system. I would love an explanation regarding why it is. I can see its use case for third world countries though. Thanks for your time and help.
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View Reddit by Fantastic_Ask452 – View Source
Sounds like you would benefit from reading The Bitcoin Standard. All your questions and doubts will be answered.
The US is one bank run away from being a third world country.
This post might be a meme in a couple of years
Do you enjoy your money losing ~7% of its spending power annually? If so, keep on living as you do.
r/BitcoinBeginners would be your best shout (as the responses will then help other beginners).
But before doing so, make an honest effort of looking online for the use cases or benefits. From your post you’d think this was non-existent online.
>Still can’t figure out why, as a person who lives in a first world country, would buy it. I can see its use case for third world countries though.
See this is actually interesting, and at least shows your awareness of having first-world privilege.
Maybe you personally don’t need it at all.
If you’ve done your research like you say and still don’t see a use case than maybe you haven’t researched enough?
The awesome thing is, nobody needs to convince you of anything! Bitcoin is economic freedom. Some value it, others don’t. For me, bitcoin is ideal because:
* I have seen trillions of USD created out of nothing. For decades, politicians have kicked the can down the road with little consequence. In my very core I believe you can’t print unlimited sums of money without negative consequence. That piper will be paid.
* I’m concerned about the financial industry. I have a lot of money in banks and investment accounts. Will those assets suddenly be unavailable to me? My bitcoin is mine, without any risk from “counterparties” who could take my assets of limit my access.
* I see freedom eroding in my country. Once we sang of the “land of the free” where now we have less freedom than many other countries. If my country becomes a dictatorship overnight, I can flee with my bitcoin and live elsewhere. Anywhere, actually.
The best argument of why I love bitcoin is because I can love it any use it whether you like it or not. Ergo, no convincing needed!
You must either not have any real knowledge of how the current system works, or any knowledge of Bitcoin (or both) to say such a thing.
I don’t have time to explain, sorry.
Are you asking why is BTC the best monetary network? If we accept that any money is worthless outside of its network then… Gold can transfer value across time, but it’s movement is too slow and costly to be useful in modern markets. Fiat is real good at moving value across space quickly, but it doesn’t hold value over time since people can make an infinite amount for each “emergency”, and there’s always an “emergency”. BTC has the best qualities of both systems. It can transfer across the globe with instant final settlement at very low cost, and it’s 21 mil supply cap prevents run away inflation so it holds value over time too (once sufficient adoption makes it less volatile).
Your reason to buy some is up to you. I got $20 worth in reaction to learning about modern monetary theory and then went down a rabbit hole
Fixed supply
Can’t be confiscated
Transactions are P2P and cannot be stopped by any 3rd party
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In light of the current financial issues, that should be enough to whet your whistle at least
If not, you might need to first try to understand more about why the current financial system isn’t fit for purpose and why BTC was created in the first place
don’t worry about it. i’m sure you have things under control.
if you have never broken a law and never plan to, then just shut up and do what you’re told. govt will take care of you.
When i think back to my reason there actually wasnt one. I bought 100$ as A CURIOSITY. ” see what happens” seeing it go up and down got me hooked. The fomo took over. Your looking for logical reasons when the real answer is emotional.
Bitcoin is the new superior form of money.
Money is one of the most important inventions of all time.
Throughout history, people have always migrated to use the superior form of money available to them at that time.
People who obtain Bitcoin earlier (and hold long term) will do better than those who don’t.
When you work you store your energy and time in money. The problem with fiat money is that its tempered with constantly. A few % benefit from the printer press while the rest get poorer every year when simply safing. Also alot of stuff is inflated because rich Money is fleeing cash into assets. 1950 a 1500$ salary could pay of a 25000$ house fairly quickly. Nowadays the income rose to 4500$ but house prices didnt tripple to 75000 they 30x to 750000$. Also say grandma wants to take her savings and put them into a whole in the earth for her grandson to find them 30 years later. When her grandson open the whole the fortune will have deminished to a small percentage in buying power. So where to store it? If you buy gold what happens if they are going to blast meteorites in the future to farm gold? What Happens when you have to leave your Country and your not allowed to take anything with you? Nobody will find out about the 24 words in your head. Bitcoin is the only universally proven limited good that no government/regulation can temper with.
Bitcoin has the limitation proof in it’s code and it’s there for everyone to see. No „trust us we have gold in fort knox“
Hi @fantastic_Ask; Bitcoin is an emerging novel currency. Adoption of bitcoin is increasing through out the world. As bitcoin adoption increases, price of bitcoin will increase, that’s the reason to buy bitcoin.
If you dont get it i dont have the time to explain it to you.
>I’ve done my research, still can’t figure out why it’s the future
What research? Dan Pena, Warren Buffett, Peter Schiff, Charlie Munger. is that your research.
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>I can see very little pros compared to the current system
Look at the current banking system that can screw everyone, and why banks are failing.
Have you heard of fractional reserve banking? It’s all about to fall apart again.