What is the reason why we really need Bitcoin?

something useless is always needed!

to the extent that Part 1

then came the comment:

State independence.For example, at the time of the Venezuelan crisis, the rate of inflation of the state-owned currency rose enormously, and the domestic economy threatened to succumb. Many citizens then switched to bitcoins to keep your economy and normal life going. Paper money can be reprinted endlessly, but bitcoins are not, they are limited to 21 million.

well, again such an argument… and I answered

This is one of the unconsidered answers… in Venezuela, nothing works without a domestic account or USD! Bitcoin… Lach.

If you have a Venezuelan bank account like no Venezuelan bank account, you have to have relationships.The friend of a friend then borrows his debit card without knowing one. Everyone has to trust everyone, because nothing else is possible.

Clearly hyperinflation catches up with itself, but those who still have a lot of money and live in the country also have foreign accounts in Switzerland or the Cayman Islands.In USD or EUR… but not in bitcoin.

What you see is a cash-paid soup chicken in Caracas!

Bitcoin… they ask you if you still have them all!

Almost everything is now only available via electronic banking. This complicates many things: taxi driving, for example, tipping, even bribing police officers.

Visacard is the fastest, and you’ll get rid of the money immediately.Then make your BITCOIN transactions in seconds. On average, a confirmation takes 10 minutes and since six blocks are required, the transaction is complete after only about 1 hour and firmly anchored in the blockchain

And the Venezuelans go to the market with bitcoins in the basket….laugh


In total, there are currently about eleven million bitcoins in circulation.That’s little more than a billion dollars. Compared to other currency, these are peanuts. The M3 money supply in the euro area rose to EUR 12.56 trillion last April.

The virtual coins thus represent a relatively small market in which even relatively small amounts drive up the price or cause them to fall into the bottomless.

Currency experts believe that at the latest when central banks curb their expansionary monetary policy, demand for electronic money will fall.And that would send the price to the basement. Since there is no central body that can bring back the money supply, then supply exceeds demand and the price slips. There is no sensible supply management like that of central banks.

The new money has already experienced some in its young history.Several times in recent years, hackers have manipulated bitcoin exchanges, stealing thousands of virtual coins. As a result, the price dropped and the actual owners of the “coins” suffered total damage.

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