We lived a terrible life before the invention of Bitcoin?

[Potuse]

Before the invention of Bitcoin we depend on the government and the banks to determine how we spend our money. We have no control over our own money because the central authority dictate how we are going to spend it.

 

[Riberet19]

But here you have to keep one thing in mind, and that is that Bitcoin is still measured in fiat currency, it is sold with fiat currency and it is bought with fiat currency, so really that money sooner or later will continue to be under the control of these governments and banks, although you can transact a little more privately, but the game remains similar until Bitcoin is not measured in Satoshis completely.

 

[Nomad]

If there is no fiat currency, how will you determine the price of Bitcoin or any other cryptocurrencies? One BTC does not have any value until we attach the fiat value. We need fiat money to own bitcoin (invest) or even create bitcoin (mine), how can we say we lived a terrible life before bitcoin?

 

[Heatman]

Unfortunately I will not be accepting this kind of assessment because I believe that even before the invention of Bitcoin, the world's economy have actually tried what they can be able to do to the best of its abilities. It is just that with the invention of Bitcoin, it tried to upgrade what we know about how to invest and make more money and not be totally dependent on the government.

 

[Grant]

You don't have much control over bitcoin either. It's not like you can stop it from dropping in price at any given moment. With actual currency, like the USD for example, you're usually getting a standard price point that doesn't necessarily drop in value as fast as something like Bitcoin would.

Bitcoin hasn't really done much to change the world either. It's not like anyone can invest in Bitcoin and make a ton from it. Considering that 1 bitcoin is worth $33K+ right now. Only people with lots of money can really invest right now.

Bitcoin has been good for many, but it's not something I'd say has made life better for everyone, not everyone uses it and I'd argue most people don't. And it's not like Bitcoin is free from taxes or fees if you live in the US. You have to claim cryptocurrency on our taxes now, so any money made or lost needs to be reported to the IRS, aka the government. At least if you live in the US. Most countries probably follow a similar thing if you're a citizen of their country.

Life hasn't been made better or worse because of bitcoin or crypto. Life is just different with these options.

 

[Ja Sa Bong]

With Bitcoin now, we are still dependent on banks and our government. Government policies are designed to keep us under their whimps. Bitcoin is meant to ease these control but government wants to keep it.

 

[Riberet19]

With Bitcoin now, we are still dependent on banks and our government. Government policies are designed to keep us under their whimps. Bitcoin is meant to ease these control but government wants to keep it.

It's hard to escape the clutches of governments and banks so easily, it's hard for us to do it completely with Bitcoin, for that there should be widespread adoption, and, before it happens, they're going to want to dominate it, I think the ETFs that want to open in Bitcoin, it's for that reason, just like they did with gold.

 

[Heatman]

It's hard to escape the clutches of governments and banks so easily, it's hard for us to do it completely with Bitcoin, for that there should be widespread adoption, and, before it happens, they're going to want to dominate it, I think the ETFs that want to open in Bitcoin, it's for that reason, just like they did with gold.

Our government will always be open to having us being under their perpetual control for the rest of their life if it is possible for them to do it.

It is something that is going to give them an edge over having the financial might to decide on how we're going to live our lives under their control. Cryptocurrency have given us a way out but they are willing to suppress it for their gain.