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I first used it to pay a contractor in Argentina, since then I stick with the store of value hypothesis. It’s like gold but easier to hold and trade without ha
by csolorio 6y ago
I first used it to pay a contractor in Argentina, since then I stick with the store of value hypothesis. It’s like gold but easier to hold and trade without having the government devalue it by printing more dollars. Or put another way, why does a dollar have value?
- louwrentius 6y agoWe already have solutions for paying people in other countries. Why would I use this one? I read a lot of difficult words I don't understand. It doesn't explain anything to me.
- NotUsingLinux 6y agoToday’s (normal)money system is complex and still many of it is not transparent to the public. Ethereum is trying to build something with more transparency but also tries to create a space in which people can experiment with funding. ( see quadratic voting experiments)
- csolorio 6y agoArgentina at the time had an official rate that was 4 to 1 the black market rate. If I used the official methods I'd be paying the contractor 25% of what I promised. In the US, this is not a large issue, but there are many countries where the gov't can manipulate their currency and exchange rates.
- vbezhenar 6y agoThere are lots of hoops I would need to jump around if someone would send be US dollars. Those would be frozen in my bank account, I would need to get an official papers (contract or something like this), translate it to the local language, notarize it and prove that those moneys are not from laundering stuff. And even then I might be denied to get those money if those papers were unconvincing. With Bitcoin it just works with 0 issues. Also I don't need to pay taxes which is good thing as I don't like this government and don't want to fund it.