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Author Topic: Top reasons why bitcoin is awesome (or "killer feature list")  (Read 6808 times)
ShadowOfHarbringer
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March 11, 2011, 01:08:55 PM
 #1

I just had an idea to write down all "killer-features" of Bitcoin in one place, so it can be used later to advertise it, or convince people to use Bitcoin.

Rules: Every "feature" has to be a sentence and have max 24 words in it.

  • 1. Governments cannot control Bitcoin.
  • 2. Using Bitcoin, you can earn money by keeping them in a safe.
  • 3. With Bitcoin, you are your own bank.
  • 4. No one (and no government) can tax Bitcoin users using inflation.
  • 5. With Bitcoin, tomorrow's pizza will always cost less than today's pizza.
  • 6. Thanks to Bitcoin, for the first time in history you can have monetary value without any government stealing it from you. [by noagendamarket].
  • 7. Using Bitcoin, you don't have to trust any middlemen when transfering money.
  • 8. Bitcoin protects you from instability caused by central banks.
  • 9. Bitcoin is an open-source project and everything about it is transparent, so you can easily audit it & trust it.
  • 10. Bitcoin allows cheap and easy international funds transfers [by ColdHardMetal].
  • 11. With Bitcoins, you don't need to pay commissions for transactions [by mico]
  • 12. The Bitcoin payment network never has downtime [by mndrix]
  • 13. Bitcoin payments are not subject to fraudulent chargebacks [by mndrix]
  • 14. With Bitcoins, nobody can restrict you in the way you want to spend your money. [by genjix]
  • 15. Using Bitcoins, you can send money to anybody in any country without any border limitations. [by genjix]
  • 16. With Bitcoin, money you own are only yours and are stored on your computer, nobody else owns or keeps them. [by genjix]
  • 17. Using Bitcoin, you are your own master and you can be truly independent. [by genjix]
  • 18. Bitcoin revolutionizes the way artists/producers can earn on the internet by allowing cheap & easy microtransactions. [by genjix]
  • 19. Bitcoin gives you the ability to easily send somebody some money when they need it, no matter where they are. [by theGECK]
  • 20. Bitcoin just works [by vladimir]
  • 21. Using Bitcoin, you can make fully autonomous payment handling code with zero-dependency on third-party APIs. [by forever-d]
  • 22. Bitcoin makes it possible to become rich without becoming famous. [by forever-d]
  • 23. The divorce lawyer may take your house, but he will never get his hands on your Bitcoins.[by forever-d]
  • 24. You don't have to trust Bitcoin, because you can verify it yourself. [by forever-d]
  • 25. Your Bitcoins won't be gone once you get out of prison. [by forever-d]
  • 26. Bitcoin makes banks useless. [by grondilu]
  • 27. The price of a bitcoin is the price of freedom. [by Sedo]
  • 28. Bitcoin is the 2.0 version of gold standard. [by nofuture]
  • 29. Bitcoin could be the next forex market [by johnieeliang]

-------------
Please write down new ideas in replies, i will add them to the list.
In a month, I will make a multi-selection poll to choose the best ones.

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ColdHardMetal
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March 11, 2011, 01:10:54 PM
 #2

Cheap and easy international funds transfers.

mico
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March 11, 2011, 01:13:39 PM
 #3

With Bitcoins you don't need to pay commissions for transactions

mndrix
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March 11, 2011, 02:49:15 PM
 #4

  • The Bitcoin payment network never has downtime
  • Bitcoin payments are not subject to fraudulent chargebacks


In the first item, "never" may be too strong of a word, but the downtime is certainly better than the downtime of other payment APIs like PayPal, Dwolla, AlertPay, etc
theGECK
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March 11, 2011, 04:21:05 PM
 #5

The ability to quickly send somebody some money when they need it, no matter where they are.

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March 11, 2011, 05:05:24 PM
 #6

The ability to quickly easily send somebody some money when they need it, no matter where they are.

- I'm not restricted how I spend my Bitcoins. Governments make it really difficult to deposit money online to play poker. Poker is banned in Washington state, Turkey, Thailand. UK has a bunch of restrictions... France cannot play on international sites. Russia, India, and a bunch of other places it's illegal.

- I've got friends in Iran. They contribute a lot to Free Software projects, but because of sanctions they find it impossible to pay for stuff they need web space .etc

- I own the Bitcoins. Not in some place, but actually on my hard drive.

- Coins are dividable to many decimal places.

- I am my own master. I can be truly independent in a Bitcoin economy if such a thing exists. Right now it's impossible for me to boycott corruption.

- Microtransactions. Will revolutionise the way artists/producers earn on the internet. Will really step up the game and improve the internet.

- Anonymous (you say it isn't but with precaution it is).
ColdHardMetal
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March 11, 2011, 05:07:39 PM
 #7

<deleted>
This highlights one more way in which Bitcoin is superior to other payment methods: one can easily verify that a recipient's address is valid before sending payment.

ShadowOfHarbringer
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March 11, 2011, 05:24:19 PM
 #8

The ability to quickly easily send somebody some money when they need it, no matter where they are.

- I'm not restricted how I spend my Bitcoins. Governments make it really difficult to deposit money online to play poker. Poker is banned in Washington state, Turkey, Thailand. UK has a bunch of restrictions... France cannot play on international sites. Russia, India, and a bunch of other places it's illegal.

- I've got friends in Iran. They contribute a lot to Free Software projects, but because of sanctions they find it impossible to pay for stuff they need web space .etc

- I own the Bitcoins. Not in some place, but actually on my hard drive.

- Coins are dividable to many decimal places.

- I am my own master. I can be truly independent in a Bitcoin economy if such a thing exists. Right now it's impossible for me to boycott corruption.

- Microtransactions. Will revolutionise the way artists/producers earn on the internet. Will really step up the game and improve the internet.

- Anonymous (you say it isn't but with precaution it is).

OK.... these don't strictly abide by the rules (one sentence, 24 words), but i will try to correct them a little for placement on the list...

ShadowOfHarbringer
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March 11, 2011, 05:31:02 PM
 #9

Bitcoin works.

That doesn't look like a "killer" Wink to me.
Are you sure you want me to add it to the list ?

Stephen Gornick
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March 11, 2011, 05:38:03 PM
 #10

I just had an idea to write down all "killer-features" of Bitcoin in one place, so it can be used later to advertise it, or convince people to use Bitcoin.

  Like, for use in the bitcoin.org redesign?
  http://bitcointalk.org/index.php?topic=4223.0

ShadowOfHarbringer
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March 11, 2011, 06:04:26 PM
 #11

I just had an idea to write down all "killer-features" of Bitcoin in one place, so it can be used later to advertise it, or convince people to use Bitcoin.

  Like, for use in the bitcoin.org redesign?
  http://bitcointalk.org/index.php?topic=4223.0

Well, i didn't think of it, but sure - why not.
It's a great idea.

Of course if Gavin and Sirius approve.

Timo Y
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March 11, 2011, 07:09:57 PM
 #12

Write fully autonomous payment handling code that has zero dependency on third-party APIs.

Become rich without becoming famous.

Don't Trust. Verify.  

The divorce lawyer may have taken your house, but he will never get his hands on your Bitcoins.  Wink

Your Bitcoins won't be gone once you get out of prison.  Wink

GPG ID: FA868D77   bitcoin-otc:forever-d
Stephen Gornick
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March 11, 2011, 10:42:41 PM
 #13

I just had an idea to write down all "killer-features" of Bitcoin in one place,

There are also some concepts from the following that make it good reading regarding this topic:
  http://en.bitcoin.it/wiki/Ideal_Properties_of_Digital_Commodities

grondilu
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March 11, 2011, 11:07:56 PM
 #14

Bitcoin makes banks useless.

PS.  I've just written this and people might think it's rethoric, but it's not.  Banks are really useless now, thanks to bitcoin.  When you think about it, it's pretty huge.  Banks have existed for centuries (since the renaissance I think).  And now, suddenly, their business model is about to vanish.
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March 12, 2011, 11:48:19 AM
 #15

Bitcoin makes banks useless.

Not sure if that's true.

There is added value to a bank offering a traditional bank account denominated in BTC.

For instance, the bank takes care of all the security, and you don't need to worry about your Bitcoins being hacked/stolen/lost.

The bank can also insure your Bitcoins in the unlikely scenario that they get stolen from them. Same as  for safety deposit boxes.

GPG ID: FA868D77   bitcoin-otc:forever-d
grondilu
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March 12, 2011, 12:20:30 PM
 #16

For instance, the bank takes care of all the security, and you don't need to worry about your Bitcoins being hacked/stolen/lost.

That's not exactly a bank, rather a data storage provider.  Maybe an Internet/VPN provider.

Quote
The bank can also insure your Bitcoins in the unlikely scenario that they get stolen from them. Same as  for safety deposit boxes.

Well that's an insurance business.  Still not exactly banks.
ShadowOfHarbringer
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March 12, 2011, 04:04:21 PM
 #17

Bitcoin makes banks useless.

Not sure if that's true.

Doesn't matter,

Everybody (including you) will get a chance to vote all the features, so if it is not true/ not good, it will simply drop out.

S3052
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March 12, 2011, 05:23:31 PM
 #18

Bitcoin: Gold Standard 2.0

 (from nofuture if he does not mind :-)

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Always do your own due diligence & consult your financial advisor. Never invest unless you can afford to lose your entire investment.

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March 12, 2011, 10:16:54 PM
 #19

The price of freedom
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March 13, 2011, 01:57:18 AM
 #20

Bitcoin: Gold Standard 2.0

 (from nofuture if he does not mind :-)


Don't mind at all...   
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