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Bitcoin is awesome because it stands to make electronic payments extremely easy without any hassle from banks or outsiders. No more e-commerce hassles like a me
by cookiecaper 16y ago
Bitcoin is awesome because it stands to make electronic payments extremely easy without any hassle from banks or outsiders. No more e-commerce hassles like a merchant account or payment gateway.
The anonymity is less strong than many initially presume since ALL PAYMENTS ARE PUBLICLY REGISTERED, including the payment chain. This is why it's important to generate a new btc receiving address whenever you perform a new transaction. The entire exchange history of that bitcoin is public knowledge, from the day it was generated until the very last transaction. Hence, if you use a bitcoin that was sent to a publicly disclosed address to pay for something, that transaction is linked to you forever. So people need to be careful about how they use which bitcoins, and the client doesn't really make that easy.
There really is a lot of potential in btc, I've been excited about it since I first learned of it, though as soon as the government catches on they will outlaw it (if they can't find a current law to justify prosecution and/or destruction of the btc network, which is doubtful) and do everything possible to destroy it. They won't like it at all, and neither will the banks that even btc users rely on to store their country's regularly denominated currency. I am scared and interested to see what happens to btc as demand rises.