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Bitcoin is a tool first, and a commodity second. I never "hold" bitcoin, or if I do is for an extremely short while. I've used it plenty of times for almost a d
by 12amxn12 4y ago
Bitcoin is a tool first, and a commodity second. I never "hold" bitcoin, or if I do is for an extremely short while. I've used it plenty of times for almost a decade in this fashion:
1. Get paid in BTC for a service or a product (or buy BTC with offshore money)
2. Sell to someone for an agreed on price
3. Get cash/local currency/supplies/whatever
Two thoughts:
- Lower hype on bitcoin is a good thing for me, as it will bring less attention to it from goverments. I just need a critical mass of people there are enough buyers/sellers/miners.
- The two things that worry me are: governance of the project, and the fact that bitcoin mining traffic can be detected (somewhat like torrents). So, if govts want, they could force the ISPs to check for traffic that may indicate mining, raid, and eventually kill all mining operations (China probably will). Most likely, some countries will be more lax on that.