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A bitcoin is a commodity. A small piece of a complicated crypto system you can buy or decipher or even trade for goods (in very few and restricted cases) and ha
by gaelow 12y ago
A bitcoin is a commodity. A small piece of a complicated crypto system you can buy or decipher or even trade for goods (in very few and restricted cases) and has practically no use apart from storing it in the hope to get a benefit in the near future by selling it at a higher price. Have you got an old VCR? Well, a bitcoin is just like that, or it will be soon (Only you can't burn a bitcoin in the hope to get some heat when your bitcoin acquires absolutely no value whatsoever but, then again, you may not want to burn a VCR due to toxic fumes and such...)
Some talk about decentralized currency, anonymous payments, money laundry... Shenanigans. All shenanigans.
- micahammon 12y agoBesides ease of international transactions, consider that only 41% of adults in developing nations have bank accounts and only 7% of adults in developing nations have credit cards. With Bitcoin and perhaps technology built around it, they can now have access to banking-like features, but without the credit profile which they probably lack, and importantly they can join the digital age and conduct transactions online without the need for credit cards.