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I mean pragmatically not abstractly. Bitcoin transaction fees were >$50 recently, so it's useless as a form of payment, and nothing is keeping it from being wor
by xgulfie 5y ago
I mean pragmatically not abstractly. Bitcoin transaction fees were >$50 recently, so it's useless as a form of payment, and nothing is keeping it from being worthless tomorrow so it's a poor parking spot for money.
- deleted 5y ago[deleted]
- hackinthebochs 5y agoPragmatically, I can buy things online without having to give up my name and address. That's a win for me.
- Craighead 5y ago... if they are physical items how do you get them?
- curryst 5y agoThe main advantage is avoiding the traditional financial systems, as you note. One use of that is to launder money, as you note. Other uses include paying for illegal things (drugs, child pornography, or in some countries run of the mill goods that are banned), or as a parking spot for money when your other options are even worse. I.e. there probably isn't a worse spot to put your money than in Venezuela's currency; despite Bitcoin's instability, it's unlikely to deflate faster than Venezuelan currency. You can also use it to move currency around. I've heard that wealthy Chinese people use it as a vehicle to get money out of China, but I'm not terribly well-versed in that.