What are the reasons to use Cryptocurrency Bitcoin? - 2020
3 Reasons to Use a Bitcoin Mixer in 2020 - BitcoinAfrica.io
Use Bitcoin - Reasons To Use Bitcoin
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/u/BitcoinReasons on Why Should I Use Bitcoin? - Reasons To Use Bitcoin
Hey u/Dreamerzz, Thanks for highlighting all of these points with such detail. I'd like to thank you for going through so many of the reasons on the site. I will touch on each one in a little more detail.
"Really wish this site was not for profit." - I don't know of any business in the bitcoin space that doesn't produce goods or services for a profit. Without profit, the world economy wouldn't function. Do you know of a way that I can get these shirts produced for free?
"I'm sorry but spending a few days to come up with some mediocre reasons and putting those on mugs and other things isn't really novel." - This is actually a project that I started back in 2016 and never had the time to really devote since I was working so much but I have recently found some extra time to devote to picking this back up. I actually took a long time to put all of these reasons together by slowly coming up with them over the course of about a year when one of these ideas would come to me. The next step was to make them all fit on a simple square image that I could share on Instagram. Sometimes the words would hyphenate so I had to change the wording to allow them to fit the margins. I will work on making them better over time.
Reason 16 response: "I'm sorry, why is this a reason to use bitcoin? It might be a reason to buy it but this doesn't tell me shit about why bitcoin is useful, other then "because price going up long term" which nocoiners have heard millions of times" - Bitcoin is different things to different people. Some people care about privacy and cryptography while others may care about sovereign money or the economics of supply and demand. Different users will have different reasons to wear different shirts. If you're not interested in the economics of Bitcoin, then that shirt is not targeted toward you. Nocoiners are more likely to find other reasons more attractive.
Reason 28 response: "You can send venmo payments and whatnot over the internet. How does this tell me why I should use bitcoin?" - No. YOU can't send Venmo payments across the internet. Venmo is able to send money on THEIR legacy payment network that they give you permission to use as long as you agree to their terms of service. Venmo and other similar payment networks are exactly why you should use Bitcoin and not some centralized corporate surveillance payment network.
Reason 41 response: " more lies. Venmo, Visa, Paypal, are these not innovations in money? But lightning network is??" - No. Venmo, Visa, PayPal, and others are NOT innovations in money at all. They are simply more efficient ways to send fiat currencies around the world. Bitcoin is about circumventing these types of centralized payment systems and having control of your own money on a borderless and permissionless payment network. Bitcoin is innovation in both money itself AND the payment networks. Also, I never mention LN anywhere on my site so I am not sure why you mentioned that. I DO think that LN is a very exciting experiment but that has more to do with payment networks than money itself.
"Ok, but WHY THE FUCK SHOULD I USE BITCOIN?" - Since this is a project that is far from being complete, I will be writing an article for each reason as well as be creating a video and hopefully, an infographic to help people understand why they should use bitcoin using all of the digital mediums. I will elaborate on this further with text, image, and video. Stay tuned.
Reason 53 response: "Ok, but again, how does this tell me why I should use bitcoin. WHy the fuck should I buy this shirt??" - Only buy a shirt if you feel that you can start a conversation with it and help new users to join the bitcoin community. There's no pressure to buy a shirt if you don't want one.
Reason 62 response: "I literally don't even have the words here" - You actually have more words than any other commenter that I have ever had and I am really thankful for such detailed feedback. Money is a shared ledger between anyone who chooses to accept it. I will be writing an in-depth article on this along with a nice video that explains what money is and how it has been a shared ledger for centuries.
Reason 89 response: "real low effort here" - It's true none the less and I have had a lot of people stop me in the streets or at the checkout counter to ask me what that means. The purpose of my project is to get people to ask questions and create curiosity. Hopefully, they will do some research and learn more about bitcoin.
Reason 83 response: "Oh look, another vague statement with a typo in the main site. Did you even spend the 2 minutes it takes to click the ABC spellcheck before publishing this?" - Yeah, typos happen. I am noticing several in your comment above but I am more interested in getting more people to use bitcoin than to police grammar. The typo is now fixed so I appreciate you pointing that out. Bitcoin is borderless and already has a larger market cap than more than 50 national currencies. Some people will understand how that is already doing more to bring more people together than political unions and those people may want to buy such a shirt.
Reason 34 response: "Do you really think the average person cares about whether a bank is open source or not? Your car is not open source, yet you drive it. Reddit isn't open-source, yet you use it." - Open source is an ideology. I use WooCommerce for my eCommerce store, which is free and open-source. I accept bitcoin and some other cryptos on my site with a free, open-source plugin called NoMiddleMan Cryptowhich doesn't take any fees for payments and send payments directly to my Electrum wallet which is also free and open source. The more tools that are free and open for people to use and improve upon, the greater the impact of them. Sure, there are a lot of people who don't care about open source because they don't know the benefits of it. Bitcoin is a monetary policy that is open for the world to improve upon. Anyone can opt-in to use it and opt-out f they don't like it. It is freedom of choice. If the legacy banking system was open-source, the 2008 collapse never would have happened since the world would have known that those big banks were insolvent. Bitcoin is 100.00000000% provably solvent all the way out to 8 decimal places. Banks aren't.
I also see that you edited your comment to delete the part where you say that I am only accepting fiat and I don't accept Bitcoin. I actually ONLY accept Bitcoin and a few other altcoins (which I exchange for Bitcoin - BTC) on the site. I do NOT accept VISA. I do NOT accept PayPal. I do NOT accept Venmo. Just Bitcoin and some alts. The purpose of the project is to get more people to use bitcoin so that is what I am helping to do. Finally, I would like to thank you for such a well thought out response. Peer review like yours is more valuable than you purchasing a shirt since it enables me to adapt and grow the project. I have made some adjustments to the site and taken some notes so I can make the project better. If you'd like to subscribe to my YouTube channel so you can get the full explanation of each reason, I'd love to have you on as part of the Reasons To Use Bitcoin community. HODL, -Jon BitcoinReasons
secure online transactions. Currently people use credit cards which are insecure for online transactions because the transaction details are reusable. A merchant (or thief) who has the credit card details can use those to charge against your account. Typically credit card companies cover this type of fraud, but in reality this "cost" is actually passed over to merchants who then pass the cost over to consumers. That's why in theory a merchant should be able to give bitcoin users a discount... because the layer of fraud that adds cost is no longer there. I'll also add that you get a tad bit of anonymity because you do not need to provide your name or information to merchants. So paying for pornography would be more discreet for example.
Bail-ins . Across the world there are more and more banks who are etching in the ability to have bail in situations where when they go insolvent, the necessary funds are then taken from depositors accounts without their permission.
Negative interest rates. They are not popular across the world yet but they exist and in the unsustainable bubbles that quantitative easing cause, it could become more widespread in the future. Paying a bank to store your money (in addition to inflation) will reduce your wealth more quickly.
The borderless aspect. Currently most money has to move traditionally through slow cumbersome systems that can typically add large fees on top. With bitcoin, anyone could be paid and there are no borders or boundaries. This certainly has advantages in many areas... remittance for example. The savings would be even greater in the case of remittance if bitcoin was used more widely and didn't need to be converted to other currencies at each end. Capital controls are another area that fit under this feature. Some countries want to limit where you can send your money so they can keep your wealth inside the country. But maybe you just want to leave?
The irreversibility of transactions makes consumer to merchant fraud near impossible. This has special applications. There are some areas in the traditional economy where consumer to merchant fraud is rampant... such as the selling of virtual goods and probably pornography. Some argue that it is a bad thing but the point is that it is better to have irreversibility with the option to have reversibility on top than it is to have only reversibility with no irreversibility option.
Deflation. Currently the USD is said to have 3.5 % inflation. Some reports say this is actually underestimated. If you keep large amounts of your wealth in money then you are losing more than the average person through inflation. In theory bitcoin will be deflationary but right now it is too volatile (small) to be considered either inflationary or deflationary. There is also the obvious profit potential of bitcoin I will include here. A normal dollar has 100 units of value. so $1.00 is a dollar and 100 cents make up a dollar. Bitcoin on the other hand looks like this 1.000000000. Because there are only a maximum of 21 million coins there has to be a way for each bitcoin to represent large amounts of value. If one coin was worth a million dollars then it's smallest unit .0000000001 (one satoshi) would be worth one cent. But that isn't all.... in the future if it was necessary there could be more units added so it could be divided further. This means that even though we are not in a steady deflationary period there is tremendous profit potential. Essentially owning bitcoin means that you own not only the monetary unit but a piece of the whole infrastructure that makes up the bitcoin network.
programmable money. Some will say bitcoin is really a protocol. Just like how email is a protocol for sending messages. Bitcoin is a protocol for sending money. The value this provides is very underestimated. There will be people who will innovate with bitcoin and provide features that ordinary money simply can't do. For instance the writer of a popular blog could provide an address that they can be tipped with. Someone can tip them with bitcoin and neither of the two parties need to know any financial details of the other. The tipper doesn't need to make an account somewhere and load up their account with funds. They just send money directly to the public key that is represented by a QR code. A beggar could sit on the roadside with a sign that just displayed the public key of their wallet. A passerby could take a picture and post it to a forum. A user of that forum could send funds directly to that beggar, using the picture as the only piece of necessary information to make the transaction. Another user will be able to send a bitcoin to their descendants... 100 years into the future in a time locked transaction. That means that the bitcoin will get carried around in their will and passed on for generation after generation until it can be spent. In 100 years. If estates were converted to bitcoin at the end of ones life the whole entire process of dividing things could be automated for example. These are just a tiny fraction of the possibilities.
Built in multi sig. Having transactions with the ability to have multiple signers opens up the possibilities for fancy things. You could have automated escrow... where 2 of 3 signatures are needed for a transaction to process. If you and the person you are trading with agree then you would both sign. The third signature would be an escrow agent who would intervene in the case of a dispute. By having 2 of 3 signatures it means that the escrow agent cannot run away with the funds. That's just one example. Also in this category I would put the ability to break keys into n of m pieces. You can divide a key so that it requires 2 of 3 pieces to reconstruct... or 3 of 4 and so on. This makes the storage of your bitcoins very versatile. It makes it potentially more secure than anything else you can own. For example you could break a private key into 3 of 4 pieces. 1 piece can go to the safe deposit box in a bank. 1 piece can go to another bank in a different country. 1 piece can be kept in a safe in your house. Another piece could be memorized in your head. The only way a thief could acquire your bitcoins is if they broke into 2 banks in 2 different countries and then found their way into your safe as well. If you personally wanted to retrieve the funds you would have one piece memorized, one in your safe, and pick the bank of your choosing. If you forgot the memorized key you would still be fine because there are 3 pieces left.
Bitcoin 2.0. If you haven't already figured it out yet, the money part of bitcoin is just the first application on a platform that is the bitcoin platform. The ability to prove asset ownership is what makes the bitcoin platform have great potential.... maybe even moreso than the money aspect. Already some companies are using this aspect. A bond was issued by Patricky byre @ overstock. Degrees are being published on the blockchain. Pay and go car leasing with the agreement all done through the blockchain is being experimented with. The amount of middle men this could cut out and the amount of potential industries it could disrupt is staggering.
Monetary Sovereignty. Mankind has never really owned their own money before. It's always been owned by their rulers. In the case of the United states that would be the Federal Reserve and it's board members . The Fed is not a part of government, but rather a private cabal. Even when our government had a currency actually backed by reserves it was only fractionally backed and therefore just an illusion. Bitcoin gives the ability for people to actually own their own money. You can't possibly own something if someone else can dilute the value of it by making more and taking it from you through inflation. With bitcoin the amount that will be created is known and that is it.
Bitcoin 3 Reasons to Use a Bitcoin Mixer in 2020. Published. 5 months ago. on. February 14, 2020. By. Elisha Owusu Akyaw. Share; Tweet; Bitcoin is not as anonymous as people think. Bitcoin transactions are viewable on the network’s public blockchain, which also means that transactions can be linked to real-world identities. As a result 10. Bitcoin Use is Pseudo-Anonymous. Aside from the safety associated with bitcoin use, bitcoin offers a degree of anonymity that even banks can’t offer. The main reason is that, banks are mandated by law to collect information on its deposit holders and report to the government. Reason To Use Bitcoin #1: Bitcoin is backed by the free will of the people who chose to use it. Reason To Use Bitcoin #2: for the first time in modern history, the power to create money is in the hands of the people. Reason To Use Bitcoin #3: Bitcoin is a financial system that is based on ownership rather than debt. Reason To Use Bitcoin #4: If the experiment works, it will be the greatest Additionally, bitcoin news has only recently started to spread widely so that more people can get informed about it. Nevertheless, there are plenty of reasons why bitcoin is better than traditional money. For instance, if you are traveling to a country that doesn’t use the same currency as yours, you need to pay attention to conversion rates. Why use Bitcoin instead of Dollars, Euros, or Pounds? Why would anyone use Bitcoin? Good questions! Fortunately, there are some straightforward answers to them. In this article, we’ll go through the purpose of Bitcoin and what Bitcoins really are used for. The main reasons people use Bitcoin are: Control; Affordability; Speed; Convenience
Bitcoin Had A BEAUTIFUL CORRECTION! - THREE REASONS TO HAVE FAITH IN BITCOIN!
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