Post
Topic
Board Beginners & Help
Re: I want to convert my money to bitcoin because of our current banking system in m
by
joniboini
on 03/03/2023, 13:07:44 UTC
Do not forget that the only restriction here is on physical cash use, you can use mobile transfer to nearly an unlimited amount, but the banking network is usually a problem and quite a lot of merchants prefer payment with cash.
Is there no other channel for payments over there? In my country, we have various digital fiat wallet that doesn't necessarily rely on banks to process the transaction. I'm somewhat surprised that it is not the same there since online payment has become popular. Not the ideal solution but can be an alternative for small spending, definitely don't use them to store most of your money though. If Bitcoin stores are easily accessible, this would be the best time to use them for daily needs.

Bitcoin doesn't work like that because Bitcoin isn't Proof Of Stake, it's Proof Of Work where there's a maximum supply. The price is determined from demand and supply.
Whether a coin use PoS or PoW has no correlation to its max supply afaik, as it's a number that can be changed. How easy or hard it is to change will depend on many things, including but not limited to community consensus, how distributed the network control is, etc. Even if you hold PoS coins/tokens, you also need to do something if you want passive income.