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Author Topic: Why do you use Bitcoin?  (Read 1343 times)
muad_dib
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July 10, 2011, 10:42:14 AM
 #1

hey guys, in the next few days I gotta speak to a few crowds of people about bitcoin.

I'm trying to find some use cases where Bitcoin is the indisputable best choice, e.g.;

1) Small donations

2) Donations to political dissidents

3) Silkroad market (but I cant talk too much about it)

4) Securing anonymously small ammounts your money

5) ... Speculation ?



Could you find some more?
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Grant
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July 10, 2011, 10:52:39 AM
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6) because it's an alternative to the banking/cc/paypal system. Theirs are proven to not be a viable alternative for online-commerce.

muad_dib
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July 10, 2011, 10:55:26 AM
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6) because it's an alternative to the banking/cc/paypal system. Theirs are proven to not be a viable alternative for online-commerce.

I used this argument in the past, but a person of the crowd asked me: "What if they make Bitcoin Illegal?"
edd
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July 10, 2011, 11:09:20 AM
 #4

6) because it's an alternative to the banking/cc/paypal system. Theirs are proven to not be a viable alternative for online-commerce.

I used this argument in the past, but a person of the crowd asked me: "What if they make Bitcoin Illegal?"

Bitcoin surpasses credit and debit cards in almost every way. Businesses pay a fortune on credit card processing fees just to be able to offer the convenience to their customers. Bitcoin has the potential to save merchants and consumers a significant amount of money that's currently going to middlemen.

Did you know that it's illegal to not pay sales taxes to your state comptroller for online purchases that weren't collected because you live in a different state than the merchant is located? How many people do you know report the amount they should have been charged when filing their state income taxes?

Still around.
muad_dib
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July 10, 2011, 11:12:02 AM
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Did you know that it's illegal to not pay sales taxes to your state comptroller for online purchases that weren't collected because you live in a different state than the merchant is located? How many people do you know report the amount they should have been charged when filing their state income taxes?

I totally agree with you, but I don't think Amazon will use Bitcoin if it is illegal, even if he tried to evade this law.

Plus it is very difficult to attract capital ventures in an illegal business Tongue
edd
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July 10, 2011, 11:30:50 AM
 #6

But Bitcion isn't illegal and it isn't a business.

Money laundering is illegal. Substance abuse is illegal. Child pornography is illegal.

Outlawing Bitcoin makes as much sense as outlawing the internet. I realize that doesn't mean it's not a possibility, but every day that legitimate business is conducted using BTC makes it that much harder to say the currency itself is detrimental to society.

Still around.
muad_dib
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July 10, 2011, 11:52:40 AM
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But Bitcion isn't illegal and it isn't a business.

Money laundering is illegal. Substance abuse is illegal. Child pornography is illegal.

Outlawing Bitcoin makes as much sense as outlawing the internet. I realize that doesn't mean it's not a possibility, but every day that legitimate business is conducted using BTC makes it that much harder to say the currency itself is detrimental to society.

I agree with you, but they can easily outlaw a currency. Like it is technically illegal to bring Chinese currency out of the Chinese border, they might make illegal to deal with Bitcoin.

Bitcoin will still exist, but a registered company might not be willing to deal with Bitcoin.

edd
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July 10, 2011, 12:53:33 PM
 #8

The original question was
"What if they make Bitcoin Illegal?"

I would answer that with more questions: Who is "they"? What reason would be given for outlawing it? How would these laws be enforced? What if they make the internet illegal?

It's a vague, amorphous fear based on wild political speculation.

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Cluster2k
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July 10, 2011, 01:59:08 PM
 #9

Why do I use Bitcoin?  To make money from my PCs burning electricity.  Bitcoin currently has many negatives.  It's very slow to confirm transactions.  It needs to be seconds, not minutes/hours.  It can't be used to buy items online that I want to buy.  The software is cumbersome to use.  The exchange market into other currencies is almost totally dependent on MtGox.

I'm just here for the cash.

Do not send bitcoins to me: 16b8s7pBJ9rUmsExNW25qD5VUqVqRPZuXu
100% solar powered bitcoin generation
ColdHardMetal
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July 10, 2011, 02:09:57 PM
 #10

Cheap, easy, cross-border value transfers is where Bitcoin really shines in my mind. Especially for amounts of say less than $1000 USD where wire fees make up a sickening percentage of what you are trying to transfer. Never mind that it's quicker than wires as well, and I don't have to leave my home.

Litt
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July 10, 2011, 03:49:57 PM
 #11

I use bitcoin because I believe in freedom.
kiba
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July 10, 2011, 04:08:14 PM
 #12

I use it because it is the most damn interesting currency in the world.

Dollars? Golds? Yen? Yuan? They aren't damn interesting at all.

Rassah
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July 10, 2011, 08:36:04 PM
 #13

x) Monetize the web. Put your address at the bottom or your blog posts or youtube videos, and people can pay you a bit if they like your work, without having to go through third parties or paying high percentage fees.

kiba
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July 10, 2011, 09:45:44 PM
 #14

x) Monetize the web. Put your address at the bottom or your blog posts or youtube videos, and people can pay you a bit if they like your work, without having to go through third parties or paying high percentage fees.

I used Operation Fabulous for advertising. No frill, no fuss. Not the most sophisticated and useful advertising platform on the planet but it's very simple.

Its inspiration, "Project Wonderful" uses paypal but I sweat over the chargeback possibility of paypal. Plus it take them a day to pay me. (Not to mention that you have to be 18 in order to use. I am 20 now so it doesn't apply anymore...)


That what I like about bitcoin: bureaucracy eliminated.

You can build your business outside the regulated market to avoid the hassle. My magazine doesn't care if you're a dog or a 3 years old, you're going to get paid for work you did and upon what we agreed on.

Plus teenagers can engage in commerce as they wishes and how they like. I wish bitcoin is available when I was younger.

My only wishes is that it shouldn't be so much of a hassle to use public cryptography to sign constantly changing employment agreement. (I just switch over to ransom payout instead of a constant paycheck but I have yet to update an employment contract) However, that's not Bitcoin's fault, but the lack of infrastructure for the emerging Bitcoin job market.

patvarilly
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July 10, 2011, 09:50:27 PM
 #15

Cheap, easy, cross-border value transfers is where Bitcoin really shines in my mind. Especially for amounts of say less than $1000 USD where wire fees make up a sickening percentage of what you are trying to transfer. Never mind that it's quicker than wires as well, and I don't have to leave my home.

This.  That's the main application I see for Bitcoin or a Bitcoin-like currency moving forward.
giantdragon
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July 10, 2011, 11:17:18 PM
 #16

Good use case of BitCoin is to conceal your savings from tax authorities. They have absolute no method to know your wallet's balance.

CurbsideProphet
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July 11, 2011, 02:14:00 AM
 #17

Quote
Why do you use Bitcoin?

To gamble.  I'll be in Vegas in a month and so I figured I'd take some of that gambling $$$ and throw it into Bitcoin.  I'm a longshot to win big in Vegas and I also think it's a longshot Bitcoin appreciates greatly in value.  I'm going in fully expecting to lose it all but am also hoping really hard I'm wrong.   Wink


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gw4tt
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July 11, 2011, 02:31:56 AM
 #18

You can also gamble with your bitcoin..

So you can gamble with your gamble.
Jaime Frontero
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July 11, 2011, 04:53:18 AM
 #19

I use it because it is the most damn interesting currency in the world.

Dollars? Golds? Yen? Yuan? They aren't damn interesting at all.

yup.

if you ain't interested you're dead.  or irrelevant.
GideonGono
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July 11, 2011, 10:48:07 AM
 #20

to hopefully bring down govts worldwide Cool

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