Quote from: Robertshon on August 31, 2020, 07:11:26 PM

I think Bitcoin can for 3 reasons

The first reason: The most relevant right now Central banks can print trillions of dollars of their local currency With a never-ending supply, according to the laws of supply and demand, this will inherently devalue the country's local currency. Now, this is what we have seen in countries like Venezuela, for example, where buying two loaves of bread now costs more than half of the average monthly salary. This is hyper-inflation. With bitcoin, there is a 21 million limited supply, no more can be printed no more can be created. This means there’s not enough bitcoin for everyone in the world to own just one… increasing its demand and increasing its value. Over the last few weeks, I’ve seen the federal reserve pump trillions of dollars into the US economy, devaluing the dollar over time. Unlike the dollar, bitcoin cannot be created out of thin air. That’s why it’s often people call it digital gold.This is why we’re bullish on bitcoin.

The Second reason: Bitcoin and blockchain technology is putting people on the financial map. Africa and Latin America lack the financial infrastructure when compared to the west 66% of Sub-Saharan Africans are listed as unbanked yet in 2016 there were over 1 billion mobile phone users. Now with mobile phone apps like Exodus the unbanked have access to a digital wallet, that they can use to trade and to do business with the rest of the world, using a currency like bitcoin which knows no borders.

And finally: Bitcoin matters because it is decentralized. It’s built on blockchain technology which we call trustless.This means no one entity owns your coins, Unlike traditional finance where your money is in the custody of one centralized entity, the banks. Banks can often freeze our funds, banks limit the amount of access we have to our funds per day, and many times you have to pay to use your own money. With bitcoin when you use hardware wallets you the individual has absolute sovereignty over your assets.

Nobody can run off with all your money, but you can!

To add more to your points, you can consider these too:

Low Transaction Costs

Because cryptocurrencies and blockchain don’t need an actual brick-and-mortar building to exist, the costs associated with their transactioning are minimal. There is no need for employee wages, utility bills or rent to be paid, so these savings naturally morph into low transaction fees. This in turn encourages more and more people to trust these new financial tools and start transactioning, allowing for the global economy to be more closely intertwined. And depending on the broker you choose, you can even trade with no minimum deposit requirements - as offered by CryptoRocket, for example.

Increased Transparency of Transactions

Since all blockchain and cryptocurrencies transactions are automated and digitized, they are all tracked in a distributed ledger. The best part about it is that it cannot be manipulated by either people or companies, which greatly diminishes the risk of fraud and corruption. This means that underdeveloped countries also have a greater chance of entering the financial transactions game and boost their own economy and social prospects. What’s more, citizens will be able to keep track of where state funds will be oriented and will thus have a say within their own political climate.

By the way, I’ve been using a method for the past 2 years now and made a couple of thousand dollars also hopefully saved myself from the wrath of the market destabilization and older mining techniques. You can sell mined BTC to RRMine directly or keep them yourself, its up to you.

In case you have some disposable income and you really want to invest in bitcoin, then I’s suggest you to go for cloud mining. Companies like RRMines and Bitdeer offer such services and this investment is definitely worth it.

I’ve been using this method for the past 2 years now and hopefully saved myself from the wrath of the market destabilization and older mining techniques. I use RRMine for this. They’ve a variety of products, lock-in period of 30 days, 90 days, 180 days are also available. After the end of the lock-in period, users can freely trade or renew their computing power contracts. The contracts can be transferred to other users or repurchased by platforms then users can recoup their costs for buying contract.

You can also pay $13.99 for 7 days, the mining profit will cover your cost for purchasing the computing power

A fixed investment will get you a more stable income, and you can choose to sell mined BTCs when the price is right for you. Also you do not need to know how to set up, operate and maintain a crypto farm, these companies will take care of them all for you, it’s more of an investment instead of a technological challenge.

You can easily register on their websites and RRMine also has a mobile app, I don’t about other but I find this very handy.

Hope you found value in this answer.