Post
Topic
Board Economics
Re: Why Bitcoin is not that good as currency?
by
FLoving
on 18/01/2020, 18:53:31 UTC
Honestly speaking if you are just gonna trade you wouldnt be rich because of the volatility of bitcoin. Look I am not against in cryptocurrency but this is not a permanent job as a trader most especially if you have a family to woek for and a kids to support. You're still need to find a permanent job even if its not a long but at least you have a fixed salary because here the price of the bitcoin is volatile sometimes it rises but most of the time it decreases.

I somewhat disagree with this view

Crypto has been sticking around for how long, like 10 years? Indeed, the first few years it was mostly about Bitcoin only, and rather more like a toy than a real deal. But the point is, it is not going away any time soon, so why not make it a major source of income if you can? People are making a living out of all possible sorts of activities (like youtubing, cam whoring, or whatever), so how is cryptocurrency different in this regard, and how less permanent is it? Simply put, "fixed salaries" are greatly exaggerated

For me, it is because of the uncertainty of crypto currency. The volatile nature of it makes it a good investment but, is also risky. Investing in crypto currency wouldn't be sure especially if you still don't have enough experience. It can't be a major source of income for people because, the prices are not fixed and even with the chance to earn a lot of profit, there is still the risk of losing money.
There is risk in the crypto market but still It is more quick, certain and inexpensive than the paper currency. The Blockchain offers you a secure system of transactions in which they are stored in block with unique codes such safety and security is not offered by paper currency. The risk element is found in all types of business you cannot characterize cryptocurrency uncertain on the basis of it.
There is a risk in everything but still I do not agree with the point that bitcoin is not that good as currency. I am using bitcoin from a longer time and from that time I am observing that bitcoin is much better than any other currency which the states are using for themselves. Instead of that which is said in the title I will say national currency is not that good as bitcoin.