Comment Re:How is this not good for citizens? (Score 0) 145
That action would made more sense if law that police executes would not be mostly bullshit.
True, but that limits its role to a transaction system. Which is fine, its just not what advocates claim it is.
Not limited to that, as we said, it went up 10000% or
2000% or in last 2 years, or indeed 30% (drop) in last year.
So it can give profit - it is useful as (risky) investmen.
Due to inflation and the basics and at historu I would say that it can drop x10 but also can grow x100, so I would add it is one of more interesting investition devices - on top of being ok for payments as we agreed.
Bitcoin as a retail payment system? Not yet. Not until bitcoin is a bit less volatile. But as a money transfer mechanism between private citizens? Maybe not a bad idea.
As a payment system, you do not care about the price fluctuations - just use bitpay or one of other payment processors.
Price is 10 $ for a product,
you are told to pay say 0.03164 BTC for example based on current prices,
you pay 0.03164 BTC
the marchant has 10$ sent to his bank account in a daily sweep from all customers.
Violation does not concern you.
If you would need to first buy BTC locally e.g. from local btc-atm or localbitcoins or friend, then you will probably pay a 1-2% more (difference between selling-buying prices) but price violation will not affect you much unless you wait few days... but if you do wait few days, you also have a chance to have say 10% *more* money (pay less) - your choice if you want to also short-term invest or not.
>>For the average consumer, Bitcoin is a solution in search of a problem.
The problems are [fiat currencies] that are based on nothing but the misplaced confidence that said currencies will be properly managed. Unfortunately, currencies like the US dollar have very shaky foundations. You'll see the point when the next banking crisis hits and the bail ins have been instituted.
Bitcoin is also based on nothing. In fact it is based on even less nothing than fiat currency. Bitcoin has weekly instability and crises. What, exactly, is the motivation here to use it over fiat?
It is based on math. I trust math more then war criminal Bush or Obama, or the private company FED to manage money.
It can not be confiscated or frozen (like happened with Wikileaks); You can receive them anonymously. You can easily script sending them without no bullshit. You are in full control of your money.
For large values of one, one equals two, for small values of two.