What is bitcoin good for

Founder of SinoHash and Brian Armstrong, CEO at Coinbase Censorshop Warning: 241 upvotes is not enough to beat 184 upvotes or even 18 upvotes.Bitcoin will be most successful in those niches (and geographic regions) where there are not already satisfactory alternatives.I really hope to do this one soon: I regularly buy stuff with Bitcoin.

There have been corruption scandals over far smaller amounts of currency within companies.

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A Hedge Against Currency Risk: For people living in countries with high inflation or the risk of devaluation, digital currency can provide a good hedge against currency risk.

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Is Buying Bitcoin A Good Way to Hedge Against Inflation

The Hungarian forint became worthless in 1946, but it served as a semi-functional fiat currency like most others have in history.PayPal adoption for instance was driven by the need of eBay merchants to transact payments digitally.Purpose built investment properties professionally managed by on site teams.A straight line on a log plot means constant exponential growth.

Everything You Need to Know About Bitcoin. Turns out, having a method to record data in a way that cannot be tampered or deleted is a good thing.These two cryptocurrencies are often compared, and for good reason. Exchanges.

Assuming the demand for bitcoin keeps up with current levels, cryptocurrency is a valid hedge against inflation.Bitcoin Is Good Long Term Investment: Major Silicon Valley Startup CEO.Advantages of Bitcoin: Bitcoin has lower transaction fees (zero) Bitcoin does not subject merchants to chargeback risk.Most Arguments Against Bitcoin are Grounded in Misunderstanding: Bitcoin is not a ponzi scheme.Even if you can find some kind of brilliant legal loophole, the government will change the law and throw you in jail anyway.Not everyone in the world has access to traditional banking services, but everyone in world who has a cell phone can use Bitcoin.The Internal Revenue Service can do all kinds of terrible things to monitor your financial behavior.One of the biggest pieces of news in the Bitcoin world recently was about Litecoin.

Since a Bitcoin has no value beyond what someone is willing to pay for it,.

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Many commentators have speculated about the potential of BTC as a global currency and its suitability for international trade as well as use by regular consumers all around the world.Accounts are numbered, but have no personally identifiable information, similar to a Swiss numbered account.Unlike M-PESA, Bitcoin has the advantage of being non-regionalized.Prepaid cell phone minutes have become a defacto currency in many African countries.If the Kava farmers were using bitcoin, this could not have happened.Having significant capital tied up in a semi-liquid, complex security that relatively few people demand with huge legal implications is mistaken.Bitcoin is more resilient against government regulation because it has no central corporation and therefore is similar to other P2P systems such as hawala.

Bitcoin is increasingly offered in parallel with existing payment processing services such as PayPal, eGold, ePassporte.

what is bitcoin? | Good StockInvest

The key difference, of course, is that the internet is free to use while every Bitcoin transaction must be paid for.Regional payment processing firms lobby governments for regulations to protect them against foreign competition, resulting in a fragmented payment processing market and protectionist transaction fees.