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Showing 2 of 2 results by Kennoichi
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Board Bitcoin Discussion
Re: Bitcoin; a tool for spending or saving.
by
Kennoichi
on 02/09/2025, 16:01:42 UTC
Bitcoin's acceptance amongst individuals and households is spending like wild fire, because of the various advantages it poses. Now comes the question; would you rather adopt Bitcoin as a tool for spending or saving? Yes, I'm guessing you'll say you use it for both. If your usage is going to be weighed, which side would unbalance the scale? As a tool for spending, it is flexible enough to be carried irrespective of volume and large purchases can be made, just to mention a few. As a tool for saving and a store of value. The value of the saved asset has great potential to appreciate. Which would you rather do?
By saving, you mean investing, right?

And if that's what you mean, then I prefer to keep it as an investment. For example, Satoshi himself seemed to prefer not to sell his Bitcoin because he believed in its future potential, which would increase its value rapidly.

So do I. It's great as a payment method, but the transaction confirmation times and other issues still make me uncomfortable. Especially considering the highly fluctuating transaction fees. We might not mind if the network transaction fees were low, but when there's a spike in network transaction fees, it can really discourage us from making transactions during that time.
Post
Topic
Board Beginners & Help
Re: Privacy is very important. Do not trust anyone.
by
Kennoichi
on 31/08/2025, 18:39:48 UTC
I posted about how a police become a thief, which may not be shocking to many people because anyone can be a thief. See another one today which are 14 people. Among them are former Bharatiya Janata Party (BJP) Member of Legislative Assembly (MLA) and 11 police officials.
I often ask myself that if Bitcoin became the world reserve currency and if nine out of ten people own Bitcoin due to increased adoption will the  cases of these type incidence increase or decrease? Because they everyone will know that everyone has some amounts of Bitcoin. Thoughts in my head. I will likely convert this to a topic of its own.
I was thinking the same thing about this. It's probably the same as many common thefts like those involving fiat currency, ATMs, or anything where it's clear that someone has something valuable that can be stolen.

But the thing about Bitcoin is that we can even hide it without a trace. By memorizing the private key to our Bitcoin wallet, we never tell anyone about our savings except those we truly trust.

Because thieves will only come to people they know have assets they can steal. So the problem is how to maintain privacy so that no one knows how much we own, and how to act modestly and not show that we have a lot of assets. That way, we can avoid theft because we won't attract attention.

So, yes, it seems like it will increase, just like with fiat currency. But with Bitcoin, we can hide better as long as we never show it to anyone.