Come to think of it, is it really worth it to do transactions with Bitcoin and other CryptoCurrencies when we have an already working Monetary System that is been supported by every Government in the World and it’s driving the economy even though some are under Sanctions ?
Question : Is there any benefit to use Bitcoin as a Currency to Settle Debts and Carryout Transactions in Exchange for Value?
Answer : There is security to have Bitcoin and other CryptoCurrencies take care of our E-Commerce and other Online Participation in Settling Transactions and Quantifying Services and Measuring of Value. When you have Bitcoin and other CryptoCurrencies to Settle Debts and Transactions in the internet, you separate your Fiat Bank Account from the Internet, in this way no one can easily get access to your Centralized Bank Account by just gaining access to the website you connected your Financial Details or Credit Card Details with, It is good that the banks don’t even link anyone’s Fiat Currency Bank Account to the internet to keep the citizens safe from been hacked. Any System can be hacked, we see them in the news day in day out. One way to secure our Fiat Bank Account from Easy target is to Abstain from using our Centralized Bank Account Details in Shopping or Settling Transactions Online, it is wise to adopt Bitcoin and other Crypto-Currencies meant for such.
Bitcoin is an Implementation of a Specification and a Standard over Digital Assets Inventions, her existence is Proof and Evident Solution for anyone to adopt her Technology and Standard to solve Problems there by upgrading our Centralized Banking System, In a Previous Blog Publication, I touched on if Bitcoin and other Crypto-Currencies are Scam, reading through will give you a broader view of Bitcoin Technology and other Technology's uprising in General.
Question: Is there any benefit to buy bitcoin and safe-keep it seeing Bitcoin in her present state and knowing or believing bitcoin will rise someday to another high peak that will break the peak price she fell from in 2021?
Answer : Bitcoin will rise to a high state higher than the peak she fell from and will fall again but little by little she will be gaining Stability and rising, she is highly volatile now but a time will come when her volatility will saturate and she will appear stable. Though I don’t see it rising in such a hurry to become stable now, but I know she will rise above her last peak. Her hurdling as a Digital Asset, Store of Value and used as Reserved Currency Rises Exponentially just like Linux Operating System. Some individuals owning Bitcoin today do not think of giving her up that sooner and many more are coming in to take advantage of her high volatility to make high risk profits causing a high demand of it in diverse usage.
Question: What are the benefits to participate in the acceptance of Bitcoin for Transactions, for Profit Bases, by Hurdling it or having it in Crypto-Currency Wallet to spend in daily Transactions like any other Currency ?
Answer : The Benefits of having Bitcoin to handle online transaction is enormous that some uses are just springing up solving real Problems, the Blockchain Technology is still on and will influence a lot of Solutions that are not yet solved and will improve on some other already available solutions to make them more efficient in handling their tasks, Nicholas Tesla’s Harnessing of Alternating Current AC did not take Direct Current DC out of the System, it Facilitated things and made DC Specialize in what she is more useful for. The Internet can’t Run Without DC even when AC aids in providing Cheaper High Power Electricity and Transferring Electric Energy over Large Distances thereby Covering Larger Network Area.
One main benefit of Bitcoin to Handle Online Financial Payment System is to secure your Physical Bank Account and Savings from been hacked by the leaking of your Bank Details if the online shop you Transact with Financially is Hacked, Bridged or Accessed without your notice. This is a common occurrence today but when you have a Bitcoin Account to do your online payment, this will secure you from Intruders and Online Thieves ( Robbers are Armed Land Thieves, Pirates are Armed Thieves that either Rob Sea Merchants of their Valuables or use water bodies as means of transport to rob others, We have not really gotten a name for those who Steal Online from Online Merchants).
Another Benefit is that you can easily make payment to Anyone at Anytime from Anywhere irrespective of National Boundaries without Restrictions or Delay from Financial Institutes.
Yet Another is that with Bitcoin’s High Volatility you can get Involved in a High Risk Investment that can make you Earn Quick Cash.
Still Another, your involvement with Bitcoin can make you Earn and become Financially Independent Starting from Scratch with nothing to Attaining Wealth provided you can gain usage Access to the Internet.
Hmm,
These are some Questions that Plague my Mind when I think about the future of Bitcoin, one of her purpose to be used as an Internet Currency as if you are having a Country’s Money with you to buy anything you want at Anytime, only this time around you can also Participate in her Existence by been among those who Edit, Maintain and Provide Services for her Software and Hardware, enabling the smooth running of Bitcoin’s Blockchain Technology and also getting paid for that.
Money as we now have it, have passed through series of Transformations Metamorphosing from different commodities in nature till we came to the place where we have to refine the material to make it, which is the Paper Money Era and now we are shifting towards Digital.
Paper Money like her predecessors as a medium to quantifying value of something have a freedom that makes you keep it and use it Anyplace, Any-day, Anywhere, Anytime and with Anyone who respects it as Legal Tender without Anyone knowing how much you really have in your possession or knowing how much you expend in exchange for the Value from the other person(s), this is one unique trait passed down by the other forms of money. Digital Money outside Bitcoin and other Alt-coins. As we know it today, the present Digital Currency used by banks before Bitcoin came onboard does not have such capability though on recent times CDBCs are Springing up taking advantage of Bitcoin's Blockchain Technology.
The present digital form of money is lacking an essential quality her predecessors have, this means she is not yet in her true form as a Digital Currency that can be spent like the normal Paper and Coin Money (Fiat Currency) she is taking over from by not having middle personnel interfering in the transaction, like dipping my hand in my pocket and buying stuffs for my usage with physical money. This problem’s Solution is Bitcoin.
Question : Is it a good thing to lose the freedom of keeping money yourself without anyone but you have total access to it ?
Answer: Over the ages people have tried to make a true Digital Money, Banks have even tried but till date, only Bitcoin have the longest running lifespan that anyone can own and spend like Paper Money without Anyone Interfering, the freedom of having it is enormous, the Invention of Money to Value Goods and Services with it opened a Whole lot of Opportunities that caused people to study how we behave towards it, as Money did not start with Banks but banks came into existence because of money, Digital Currencies will always carry such traits. As there continue to be Natural Resources (Gold, Silver and other Natural Resources ) used as Commodities to settle Debts and Value outside of Government Approved Fiat Currencies in the Physical Realm and World System there will always be Bitcoin and other CryptoCurrencies that are not Governed by anyone but the Internet itself. These are the Internet's Natural Resources and these Resources are Bound to stay. It is wise to participate in her existence, it is not yet time that her various sectors can be Regulated, there is still long time ahead and even if some of her Applications are regulated, there are still lost of opportunities to serve using bitcoin.
Bitcoin is the first true Digital Money that solved the double spending problem before the World Financial Institutions could, this example have not shown any sign of leaving the World Financial Scene even as CDBCs ( Central Bank Digital Currency) are emerging which are a product of her Technology. Bitcoin as a Digital Currency is mounted on as it is still showing other Solutions that the Financial System today lacks that our Monetary System needs.
Bitcoin and some other Crypto Currencies are Internet’s Natural Resources that you can Mine with just your Technical Know how, as we have crude methods of Mining Natural Resources from the Earth till date.
The Technology of Cryptography is another Internet Resource to mine, it is an evidence to show how secure we can be with Logic, Logic is broader than Mathematics, it is the Building Block of Technology we have today and also it is what our human race is working on all the time.
Blockchain Technology and the CryptoCurrency Space is a good place to display your talent as a Technologist, Inventor, Innovator who love solving problems without Restrictions.
I urge and welcome you all who can participate to come take advantage of her rich Resources that is without boundaries.
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