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Even assuming that's all true, that's only a reason to use it as a store of value. The comment you responded to is asking why use it as a medium of exchange?
by khuey 8y ago
Even assuming that's all true, that's only a reason to use it as a store of value. The comment you responded to is asking why use it as a medium of exchange?
- swift532 8y agoIf it's truly more useful for businesses, you might get a discount. Or maybe just because you like freedom.
- sparkie 8y agoAs a good example of getting a discount, I've made several purchases through purse.io and saved plenty of money. A proper immediate and legal use-case, that people can exchange their otherwise illiquid Amazon credits for Bitcoin by taking a small loss.
- patio11 8y agoPurse still offers 15%+ spreads on their homepage. Do you know who is willing to sell a cash equivalent for a 15% discount to face value? A carder. The 15% is their payment for services rendered.
- Karunamon 8y ago- Privacy. Yes the blockchain might be public, but good luck tying transactions to identities for selling my purchasing habits, or most other purposes outside of state actor law enforcement. (And even that is arguable with attention to opsec) - Uncensorability. I can pay whoever I want whatever I want, with no third party able to insert themselves between me and the recipient (or dictate who can send or receive money) for any purpose. - Irreversibility. Yes, often held up as a weakness, but has its uses. Not all transactions are physical merchandise where a third party enforcing refunds is useful.
- nradov 8y agoThe government is perfectly capable of sending men with guns to forcibly censor or reverse your transactions. Blockchain technology can't stop that.
- chii 8y agoonly if you let them. An address could be kept anonymous with good op-sec. If you know that your actions are going to attract the ire of some people with guns, you will practise op-sec.
- Karunamon 8y agoI'd be willing to wager my life on the fact that the government, any government, lacks the ability, resource, and desire to muster the compute power necessary to reverse a single bitcoin transaction more than a few hours old.
- nradov 8y agoThe government doesn't need to waste time manipulating blockchains. They can simply seize your assets by force.
- Karunamon 8y agoOur government can't even stop people from distributing files containing data they don't like - what makes you think they can magically seize every single copy of a wallet that exists?