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56703612 No.56703612 [Reply] [Original]

Brainlet here, it costs money to buy bitcoin, and it doesn't reflect in your credit score, so let's say you save 15k in bitcoin in a year, if it 3x's you have 45k but that depends on basically luck, but if you save 15 in a bank or credit union, you can borrow 45k on top of the money you already have. So ultimately with bitcoin you have to pray it goes up and not down, and maybe you'll come out ahead, with zero gaurantees, with that in mind, sell me on bitcoin and crypto in general.

>> No.56703641

>>56703612
one scenario is being a slave the other free....i'm not sure what you mean tho.....

>> No.56703666

>>56703612
You're saying that there's a benefit to fiat of being able to use your fiat as collateral for a line of credit. Despite several companies offering this for cryptocurrency, you're correct that there isn't a mainstream method to do this for cryptocurrency which is as robust as the current system of credit for fiat. That's a point to fiat and a negative for owning crytpocurrency, yes. There's still plenty of other benefits to owning Bitcoin that are not offered by fiat, e.g. the ability to transfer your money anywhere cheaply and instantly.

You're also probably stuck in some loop of ideas in your head where you've convinced yourself of one thing and felt it was appropriate to vomit your ramblings here. It isn't.

>> No.56703667

>>56703612
you pretty much hit the nail on the head. crypto is a fun way to gamble, that's about all

>> No.56703703

>>56703666
>There's still plenty of other benefits to owning Bitcoin that are not offered by fiat, e.g. the ability to transfer your money anywhere cheaply and instantly.

Can you tell me about these other benefits? I mean can send money via ETF for free anywhere.

>> No.56704105

>>56703703
no one can steal it from you, since it's easier to hide your private keys to a 100 btc wallet, than the same amount of money in $100 bills.
it's easier to transfer it, both physically and digitally.
it's anonymous, as long as you mine it yourself or buy in from a non-kyc p2p exchange.

>> No.56705032

>>56703612
>sell me on bitcoin and crypto in general.
That sounds too much like work

>> No.56705142

>>56703612
You can borrow money against bitcoin but I'm not aware of anyone offering that much on a collateralized loan, even in the fiat system.
I don't understand your idea with credit scores but yes buying anything with cash doesn't affect your credit score. Using credit does. It's in the name.
The gist of bitcoin is all the same points you'll hear in a conversation about gold. We just have an asset that acts like gold but is a digital product. It saves you from the inconvenience of dealing with buying, selling, verifying, moving, and storing bullion.
>no guarantees
There is one guarantee, that your dollar is losing its purchasing power and will continue doing so indefinitely. Whether it's in your pocket, your bank, under the mattress, it will lose pp. This is why people invest.
>>56703703
The big idea with the mobility is that you and I can exchange money directly in a provably secure way over the internet. Yes you can route transactions through banks and accomplish this, but you need the banks. We do the same thing without the banks. Simple as that. As to why, commonly said reasons are that banks fail sometimes, banks are subject to a lot of government intrusion, and they're actually very slow on the back end. You as a customer don't experience this but the actual funds transfer is quite slow.
This is honestly more of a cool to have feature than a main selling point though.

>> No.56705380

>>56703612
justdon't buy it and hold fiat. be a poorfag. its ok. we need idiots like you else i can't become richfag