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    Author Topic: I regret to scrutinize bitcoin!  (Read 400 times)
    KingsGambet19 (OP)
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    November 30, 2020, 01:11:08 AM
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    Here are some of my topics I am writing about bitcoin that I made some regrets. I am not a fan with bitcoin before but I am now!

    What made you think of investing in bitcoin?
    Bitcoin is not needed but only for investment
    Bitcoin could destroy economy
    Which is more important bitcoin or fiat?

    As I checked the market, bitcoin has got a good demand and support from the community which result to high market for bitcoin now due to the fact that bitcoin liquidity in every exchanges are depleting.
    Paypal is one of the possible reason introducing bitcoin in their platforms to its users for easily access to buy bitcoins.

    So? This made me regret why was so dumb not seeing the important of bitcoin. And here is some of my realization when writing some posts against bitcoin.

    1. What made you think investing bitcoin?
    Realization: Bitcoin is not only for investment for its main function is to act as a  digital currency where it uses P2P network where users has full control over his funds with no third party service and KYC does not really necessary.

    Privacy is one of the key feature about using bitcoin. It can save your ass from robbery or from thieves especially when you like to gamble and winning a lot. Being anonymous will help you to conceal your identity and your winnings. It does not only cater gambling but also to other aspects where identity concealment matter.

    2. Bitcoin is not needed but for investment only.
    Realization: Bitcoin is good for investment yes, but if you dig deeper on its use then it is one of the best technology that could solve problems in the future. If you have reserve money (fiat) it will be good if it will be converted as  an asset like gold. But if I were to chose between gold and bitcoin as asset then I prefer to use bitcoin as an asset or reserve back up.

    3. Bitcoin could destroy the economy.
    Realization: Nope, in fact it could be the opposite. Bitcoin could beat the inflation rate vs. fiat especially now that we are in pandemic and fiat currency now is greatly affected by inflation rate making it lesser capability when exchange to goods, products or services. Fiat currency value now depleted a lot that even the food value now a days become double its market price. This because fiat currency is vulnerable to inflation rate.

    4. Which is more important bitcoin or fiat?
    Realization: In this trying times we need a currency that could help us to get our needs and get away from getting the transmission of the covid19. Hence using bitcoin for online transactions is ideal compared to using physical money to where virus can be acquired especially if minimum health protocol like washing hands and wearing of mask is not observed. For me bitcoin is important, aside from what I mention above that bitcoin is dependent and that could not be affected by inflation rate like fiat currency.

    Anyway, I was also happy that bitcoin is in bullish trend and this would be my first time to see bitcoin market rally to possible ATH in this year or could it be the year 2021.

    Still I wanted to get confirmation with you guys. What do you think of my realization? Am I coulr be right? or Wrong?

    I'll be happy to hear with you guys! Thank You!
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