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> Bitcoin eliminates counter party risk and international transfer risk citations are a two way street buddy

• lowkey 5y ago
  Fair enough .. Bitcoin is a peer-to-peer network that does not rely on any third party to function - hence no counter-party risk. Bitcoin operates based on rules, but has no rulers, only participants of various flavors. Bitcoin doesn’t understand or recognize borders. There is no country-code input field in a bitcoin transaction. Bitcoin doesn’t care if you are sending Bitcoin to your friend across the street or North Korea, Iran, <insert scary nation here> - international transfer risk is non-existent for Bitcoin as Bitcoin does not recognize political borders. Any human anywhere with a computing device and internet connectivity can create an address and transact with anyone else in the network. Bitcoin is a censorship resistant monetary network open to all 7.5 Billion humans. No bank can compete with Bitcoin on this dimension.
  • haskellandchill 5y ago
    Do you know what a citation is?
    • lowkey 5y ago
      Yes but I provided an logically consistent explanation instead. Perhaps you would prefer I cite the Bitcoin Whitepaper which explains the peer-to-peer censorship resistent electronic cash as explained by the inventor Satoshi Nakamoto [1]. [1] https://bitcoin.org/en/bitcoin-paper https://bitcoin.org/en/bitcoin-paper