Money Talk

Whats the point of using bitcoins?

Submitted by DavidP2016, , Thread ID: 13924

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RE: Whats the point of using bitcoins?

25-03-2019, 04:36 AM
#72
Bitcoin is immutable, cannot be altered. Can't be printed out of thin air, like banks can do with fiat. Because of this, Bitcoin is inflation resistant, possibly even inflation-proof. With Bitcoin, you don't need to worry about delays in bank wires (days) or even have to worry about banks. Nobody can tell you Bitcoin isn't worth anything, because a Bitcoin is still, and always will be worth a Bitcoin. Sounds silly to say, isn't a dollar always worth a dollar? No, it's not. A dollar hasn't been worth a dollar since FDR abandoned the gold standard, at which point a dollar has been worth whatever the banks and government decided it was worth, but only until they decided it was worth less. For every dollar printed, the dollar is worth less, because there is now an increase in supply with nothing to back it. For every Bitcoin mined, it becomes more scarce. It isn't the most anonymous currency as you can publicly view any transaction, or wallet balance that you have the public key for, which is where "private coins" (XMR, ZEC, DASH) come into play, but that's another topic.

Bitcoin is for the security of knowingly holding your funds, securely, under your sole discretion.

RE: Whats the point of using bitcoins?

Dallerino
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25-03-2019, 05:11 AM
#73
invest in doge coin im telling you bro its on the rise

RE: Whats the point of using bitcoins?

tylou3388
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25-03-2019, 08:51 PM
#74
always found bitcoin and crypto currencies a lil confusing but no more

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