Can Bitcoin be used for Good?

[alyssa85]

http://www.theatlantic.com/technology/archive/2016/04/bitcoin-hype/477141/

Something strange is happening to Bitcoin. Once viewed as a way to do business in the darkest corners of the web, the digital currency has rather suddenly become a favorite talking point among humanitarians and international development enthusiasts.

Bitcoin isn’t just for illicit transactions or Internet hobbyists anymore, but for helping the poor, the downtrodden, and the unbanked.

Perhaps Bitcoin can save them! Perhaps Bitcoin can save the world!

Regardless of whether this attitude is realistic—and more on that in a minute—the people focused on demonstrating the social benefits of Bitcoin are challenging existing narratives about the cryptocurrency. While early commentary focused on how Bitcoin might be used to buy drugs online, or for sending money without a paper trail; the social-good argument suggests that these uses were simply the first use-cases in which Bitcoin’s utility became apparent. But there are billions of other potential use. There are, for example, people who face significant obstacles in operating within the formal banking system—and these folks look very different from the shadowy hackers that tend to be seen as the prototypical Bitcoin user. They could be low-wage migrant workers sending money back home to their families, for example, or activists receiving money from abroad during tumultuous times.

[Zulucia]

I do not use bitcoin for anyting bad. I use it to buy computers and graphics cards to do some mining.

[Vaskiy]

Still now I have been using bitcoin for good purposes like mobile recharge and some online purchase. I have a wish to go for gambling. I don't know whether it is good or bad.

[Lauda]

I do't see why not. There have even been some humanitarian attempts here on the forum, some less successful than others (but it is worth a shot, right?).

I do not use bitcoin for anyting bad. I use it to buy computers and graphics cards to do some mining.

The point of this thread was not whether you are using it for good or not.

[TastyChillySauce00]

yeah ofcourse,few non profit organization which work for charity now start accepting bitcoin,it's just the start,we can see all charity site will starting to accept bitcoin in the future,i've seen a charity site which gather people's money for donating an unused computer for kids in africa accepting bitcoin and it's awesome

[btcltccoins]

Still now I have been using bitcoin for good purposes like mobile recharge and some online purchase. I have a wish to go for gambling. I don't know whether it is good or bad.

Gambling is good or bad in nature itself. It has nothing to do with Bitcoins. You can do Gambling with bitcoins or Fiat currecny. So  its not the matter if bitcoins is good or bad..it is gambling which is good or bad. i hope its clear now.

[Denker]

Sure.
Charity for instance is a great way to use Bitcoin for.
I still dream of a TV live event where some Bitcoin supporters/users show how fast and easy and it is to collect money from all around the world for whatever project.Such an event could give Bitcoin a real boost and it would shine in positive light.But I doubt the big tv stations backed and influenced by governments would allow this.
Therefore I hope one day a celebrity will do something like that over the known social platforms.Would be awesome!

[Kprawn]

The Good Bitcoin can do, is this : Near ZERO fees on transactions. If you wanted to donate money to a charity in another country before Bitcoin, you would have had to do a wire transfer via

MoneyGram or Western Union or some kind of money transmitter service. If you wanted to donate say $10, you would have paid $3 in fees and only $7 went into the pockets of the charity. This is not

the exact prices, but you get the idea. There are also other methods... but I use that as an example. Now with Bitcoin, you give $10 and more than 90% of that goes towards the charity... no 3rd party

takes 30% before it reach the charity... and this is how it should be.   { 3 million people can now also send $0.50 and they will still get a lot of money }

[setupbounds]

The Good Bitcoin can do, is this : Near ZERO fees on transactions. If you wanted to donate money to a charity in another country before Bitcoin, you would have had to do a wire transfer via

MoneyGram or Western Union or some kind of money transmitter service. If you wanted to donate say $10, you would have paid $3 in fees and only $7 went into the pockets of the charity. This is not

the exact prices, but you get the idea. There are also other methods... but I use that as an example. Now with Bitcoin, you give $10 and more than 90% of that goes towards the charity... no 3rd party

takes 30% before it reach the charity... and this is how it should be.   { 3 million people can now also send $0.50 and they will still get a lot of money }

Yes it is best for charity and all other transactions. There is not setup fee and very low transaction fee. If you use coin base or Xapo as a wallet, it is just like free transcations. So no wasting of your money in fee and taxes.

[bitdumper]

Bitcoin has helped many people fulfil their dreams of car, home repairing etc via BTCJAM . I find it very it very inspiring that how these people have managed to get loans at good rates and without much collateral.

[iram66680]

Bitcoin has helped many people fulfil their dreams of car, home repairing etc via BTCJAM . I find it very it very inspiring that how these people have managed to get loans at good rates and without much collateral.

But can the majority of those people pay back those loans? Asking for a loan for a car is a bit far fetched. Because even banks are reluctant to lend out money for a car to people without any collateral. So I find it hard pressed to hear that a complete stranger on a website that has never seen your face will lend you $20k for a car in exchange for an IOU letter written on notepad.

[Hannu]

Bitcoin is worth of gold, oil, property etc 

[iram66680]

Bitcoin is worth of gold, oil, property etc  

What does this even mean? It's not even close to any of those commodities.
It can be with the right motivation in the market. But not yet. Once it breaks the barrier of it's peak of $1300~ then I can see it rivaling those.

[btcdevil]

Still now I have been using bitcoin for good purposes like mobile recharge and some online purchase. I have a wish to go for gambling. I don't know whether it is good or bad.

i am also doing mostly only mobile recharge or convert it to fiat currency and meet my expenses. if you are going to gambling better do sports betting but take advice from professional or if you can do some research and preparation before the match about their past games , statistics , then surely you will get benefit and get profit in sports betting.

[btcdevil]

Bitcoin is worth of gold, oil, property etc  

What does this even mean? It's not even close to any of those commodities.
It can be with the right motivation in the market. But not yet. Once it breaks the barrier of it's peak of $1300~ then I can see it rivaling those.

This you are telling because now the value of gold , oil and property are up, some years before you would have not thought that this will be worthy so same way now you think Bitcoin is not that much worthy but after some years you will think that why did not you invest now so that in future you will be not be sorry for not investing in bitcoin. Bitcoin future is very good that you will know in some years.

[Daniel91]

Everything can be used for good or bad, it depends on our motivation.
Personally, I see many positive things and benefits for people if they use Bitcoin as anonymity, financial freedom, get rid from banks, very easy and secure way to pay products and services online, or to send funds to friends etc.
Of course, people can use bitcoin for illegal activities as well but each of us have to be responsible in our lives and not to harm others.
Bitcoin still don't have status of gold or oil but this can change in the future, when we become mainstream.

[Carlton Banks]

One question


Who defines what is good or bad? Is there only one definition? (ok 2 questions )

[AtheistAKASaneBrain]

One question


Who defines what is good or bad? Is there only one definition? (ok 2 questions )

Nothing defines good or bad, but we define good or bad by what is good for us as a society in general and what is bad.
Without getting in philosophic debates, Bitcoin, just like any other currency, can be used for good or bad. Just like a gun, you can shoot the bad guys or shoot innocent people, it's not the gun's fault.

[Carlton Banks]

One question


Who defines what is good or bad? Is there only one definition? (ok 2 questions )

Nothing defines good or bad, but we define good or bad by what is good for us as a society in general and what is bad.
Without getting in philosophic debates, Bitcoin, just like any other currency, can be used for good or bad. Just like a gun, you can shoot the bad guys or shoot innocent people, it's not the gun's fault.

Apparently not, both the article linked and the OP made a blanket assertion that Bitcoin is, at present, only used for bad things. And I disagree with your assessment that majority opinion matters. That means that if more than half of a population in a given jurisdiction decide that some activity of yours is "bad", then they will force you to stop under threat of official violence. That's highly questionable morality; if the activity isn't causing harm or loss, there is no justification for such behaviour, it amounts to nothing more than arbitrary bullying

[lister storm]

of course bitcoin might be used for good things, first of all a lot of shops might start accepting it thus allowing people to spend their money where ever they want without any fees

also in my opinion bitcoins might be used to raise money for the people in need and it would attract a lot of donators if there were a possibility to donate bitcoins