Quote from: DaNNy001 on Today at 10:43:10 AM

Quote from: _act_ on January 13, 2024, 09:20:39 AM

Unlike before, if I want to send money to someone that is not in my country, I have no option than to use fiat which can be very slow and of high fee. Although bitcoin fee right now is also high but I can send it to the person aboard which would be very fast. If I want to make an foreign online payment, my country is allowed to pay but the bank is declining the transaction. I used bitcoin for the payment. There are times that fiat will fail someone as it is centrally controlled. But I still use fiat for making payments, especially locally which is fast and cheap.. Locally, I see no reason to use bitcoin.

Most of my transactions are local transactions. I use fiat for local transactions. Most of my transactions are local transactions. This always still makes me see bitcoin more as an investment. I have bitcoin because I invested in it. But sometimes I use it for payment. But what I noticed is that people use bitcoin to hedge against inflation and also as an investment, than to be used for P2P transaction. But we should still know that if you use bitcoin for investment, that is not affecting its purpose for P2P transactions.

Your explanation is exactly my base of action with Bitcoin too, and to say the truth I think all Bitcoin are really interested in Bitcoin because of its store of value ability, I mean why would anyone choose fiat to save when there is Bitcoin which can guarantee you profits when the inflation has eaten up the world although you using your Bitcoin doesn't mean you have escaped the inflation in terms price variation on commodity but atleast you will be moving with it as the value of your Bitcoin will aslo possibly increase with it so the effect won't be felt that much.

And for the case of it as means of transaction, I think that the best and good reason to transact with Bitcoin especially in a region like mine when most international transaction seem to be charge huge amount by bank and only the procedure involved will get you tired so using a less stressful means like Bitcoin is a perfect example.

I agree with everything _act_ said and you about using bitcoin as a means of international payment or to transfer money abroad is much more convenient and better than fiat currency. But I will not agree with you that bitcoin will guarantee profits to those who invest in it. Bitcoin is a highly volatile asset and a financial market, so owning it does not guarantee that you will never lose money and always make a profit.
Up to now, there are many people who have changed their lives by investing in bitcoin, but there are also many people who have lost money when investing in bitcoin. Everything does not depend on bitcoin, profit or loss depends on the abilities of each investor.