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Bitcoin has different selling points, one of them is independence of Stripe, PayPal and other intermediaries that are either too costly for some, or disallow ce
by oleganza 13y ago
Bitcoin has different selling points, one of them is independence of Stripe, PayPal and other intermediaries that are either too costly for some, or disallow certain transactions, or cause chargebacks, or not allowed in your country.
Another selling point is that BTC you can own while USD/EUR/RUR/CNY you cannot. Fiat currencies are always under control of the banking system and ultimately at the mercy of the central banks. "Bail outs", "bail ins", "QE", "haircuts", "freezing accounts" etc. are all effects of not being able to hold your own money. You can hold physical gold, but it's not portable or easily divisible. Bitcoin allows holding any amount of wealth, be it $1 or $1000000 even inside your brain. It's much easier to meddle with your savings in USD/EUR than in Bitcoin.
- cabalamat 13y ago> You can hold physical gold, but it's not portable Depends how rich you are. UK median annual income works out about 1 kg of gold, which is perfectly portable. (Of course, the authorities might regard you with suspicion for carrying that much gold, but that's another issue.)
- dllthomas 13y agoIf everyone tried to convert their savings into gold, gold would be quite a bit more expensive (and thus lighter).