But assuming that you are an enthusiast who uses bitcoin for ideological motives, what is the point of using bitcoin for anything that is not shady and/or illegal? What competitive advantage does it have over other forms of digital funds transfer? I mean practical, short-term advantages available on the margin to the parties involved in every transaction, not political things like “the government can’t regulate the supply”.
It’s cheap. You can send a large amount of bitcoins anywhere in the world with very very low transaction fees. Merchants can accept it without a ridiculous fee.
While your funds are stationary they are not subject to seizure. That’s not a political statement by the way.
It’s cheap. You can send a large amount of bitcoins anywhere in the world with very very low transaction fees. Merchants can accept it without a ridiculous fee.
If you convert it from/to cash immediately before/after each transaction, then you face exchange fees. And if I understand correctly, most exchanges have daily limits. And anyway exchanges are shady businesses: see what happened to MtGox.
If you hold significant amounts of bitcoin then you face volatility risk.
While your funds are stationary they are not subject to seizure.
Why not? I’m pretty sure that your government can force you to hand out your wallet.
But assuming that you are an enthusiast who uses bitcoin for ideological motives, what is the point of using bitcoin for anything that is not shady and/or illegal?
What competitive advantage does it have over other forms of digital funds transfer? I mean practical, short-term advantages available on the margin to the parties involved in every transaction, not political things like “the government can’t regulate the supply”.
It’s cheap. You can send a large amount of bitcoins anywhere in the world with very very low transaction fees. Merchants can accept it without a ridiculous fee.
While your funds are stationary they are not subject to seizure. That’s not a political statement by the way.
If you convert it from/to cash immediately before/after each transaction, then you face exchange fees. And if I understand correctly, most exchanges have daily limits. And anyway exchanges are shady businesses: see what happened to MtGox.
If you hold significant amounts of bitcoin then you face volatility risk.
Why not? I’m pretty sure that your government can force you to hand out your wallet.