4 ms·

Use cases (Escaping currency controls,Cannot be seized by government, Asset Speculation, Purchasing legal and illegal things, Money laundering, Donating to peop

Use cases (Escaping currency controls,Cannot be seized by government, Asset Speculation, Purchasing legal and illegal things, Money laundering, Donating to people like wikileaks) Bitpay allows you to use bitcoin with a VISA card https://bitpay.com/ https://bitpay.com/ Some merchants accept it, Overstock being a famous one.

zjaffee 9y ago
Many of these things are no different than holding large amounts of normal cash(of any currency really) or something such as gold, with the exception of their being a ledger of all trades that have occurred. Also bitcoins can certainly be seized by the government should they size control over any accounts you hold coins in, take your computers, ect (it's just harder to do so). Also I think your missing the biggest use case, abet one that isn't frequently discussed, and it is that crypto currencies are by far the best digital payment solution when it comes to the time it takes for transactions to clear. There is no dispute process, and there is no waiting on the fed for their ACA system to clear your transactions. However, I think a lot of people prefer credit cards for cash back and to have the option to charge back, but certainly cryptos are better for sellers (and potentially will give discounts to those who use them in the future).
- pedrocr 9y ago
  >crypto currencies are by far the best digital payment solution when it comes to the time it takes for transactions to clear Isn't paypal much faster than crypto currencies at doing the same? The normal banking system is quite slow (in part for good reasons) but the digital currencies that came before the crypto currencies are much better at this already, and better than bitcoin will ever be.
  - fpgaminer 9y ago
    You missed the salient word: "clear" PayPal transactions never really clear. You can probably reverse a 3 year old PayPal transaction... But Bitcoin payments are irreversible after only 1 hour. There are no other systems that accomplish that online.
    - pedrocr 9y ago
      If your definition of clearing is that they can't be reversed then nothing that isn't a crypto currency allows it. That's not the usual definition of transaction clearing though.
  - discombobulate 9y ago
    Coinbase uses the term 'digital currency' to -- I believe -- placate NY regulators & to support their regulation moat. You're correct: if crypto currencies were digital currencies there would be no advantage. However, crypto assets are decentralised & resistant to censorship. The power shifts away from the nation state (& Trump), & toward individuals.
- 0x4f3759df 9y ago
  There are many aspects to bitcoin I just named a few, I'll bet there are others I've forgotten besides the one you mentioned.

zjaffee 9y ago

Many of these things are no different than holding large amounts of normal cash(of any currency really) or something such as gold, with the exception of their being a ledger of all trades that have occurred. Also bitcoins can certainly be seized by the government should they size control over any accounts you hold coins in, take your computers, ect (it's just harder to do so). Also I think your missing the biggest use case, abet one that isn't frequently discussed, and it is that crypto currencies are by far the best digital payment solution when it comes to the time it takes for transactions to clear. There is no dispute process, and there is no waiting on the fed for their ACA system to clear your transactions. However, I think a lot of people prefer credit cards for cash back and to have the option to charge back, but certainly cryptos are better for sellers (and potentially will give discounts to those who use them in the future).

pedrocr 9y ago
>crypto currencies are by far the best digital payment solution when it comes to the time it takes for transactions to clear Isn't paypal much faster than crypto currencies at doing the same? The normal banking system is quite slow (in part for good reasons) but the digital currencies that came before the crypto currencies are much better at this already, and better than bitcoin will ever be.
- fpgaminer 9y ago
  You missed the salient word: "clear" PayPal transactions never really clear. You can probably reverse a 3 year old PayPal transaction... But Bitcoin payments are irreversible after only 1 hour. There are no other systems that accomplish that online.
  - pedrocr 9y ago
    If your definition of clearing is that they can't be reversed then nothing that isn't a crypto currency allows it. That's not the usual definition of transaction clearing though.
- discombobulate 9y ago
  Coinbase uses the term 'digital currency' to -- I believe -- placate NY regulators & to support their regulation moat. You're correct: if crypto currencies were digital currencies there would be no advantage. However, crypto assets are decentralised & resistant to censorship. The power shifts away from the nation state (& Trump), & toward individuals.
0x4f3759df 9y ago
There are many aspects to bitcoin I just named a few, I'll bet there are others I've forgotten besides the one you mentioned.