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Author Topic: Best aspects of Bitcoin to tell someone about?  (Read 1632 times)
jcoin200
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May 20, 2014, 07:59:42 PM
 #1

When explaining bitcoins advantages over cash to someone else, there are a few things that come to mind:

1. They cannot be counterfeited
2. Can be sent anywhere in the world with no (or very very low) fees
3. Mining fees dont go to big banks
4. Low transaction fees, coinbase estimated bitcoin could reduce payment processing fees worldwide from $500 billion to $50 billion, so 1/10th of current level

Any other to add to the list?
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May 20, 2014, 08:01:20 PM
 #2

When explaining bitcoins advantages over cash to someone else, there are a few things that come to mind:

1. They cannot be counterfeited
2. Can be sent anywhere in the world with no (or very very low) fees
3. Mining fees dont go to big banks
4. Low transaction fees, coinbase estimated bitcoin could reduce payment processing fees worldwide from $500 billion to $50 billion, so 1/10th of current level

Any other to add to the list?
Your funds are your funds, and no one can take that away from you.

Tangible, 1 btc = 1 btc.

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May 20, 2014, 08:13:59 PM
 #3

2. Can be instantly sent anywhere in the world with no (or very very low) fees

Maybe include something about being dectralised and deflationary, and the many other advantages they have over banks and money transfer services etc (but I guess you already included the main ones).

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May 20, 2014, 08:21:31 PM
 #4

1. you know exactly the money inflation rate vs fiat which is unknown, its stats are usually a  lie since there is incentive to understate the fiat creation rate
2. by using fiat you are supporting that particular government's and banker's policies/wars/etc, with bitcoin you are supporting the bitcoin userbase. voting with your dollars literally
this vote has more effect than voting in rigged two party elections who are both financed secretly by bankers and will continue where the previous party left off.



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DannyHamilton
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May 20, 2014, 08:25:25 PM
 #5

When explaining bitcoins advantages over cash to someone else, there are a few things that come to mind:

1. They cannot be counterfeited
2. Can be sent anywhere in the world with no (or very very low) fees
3. Mining fees dont go to big banks
4. Low transaction fees, coinbase estimated bitcoin could reduce payment processing fees worldwide from $500 billion to $50 billion, so 1/10th of current level

Any other to add to the list?

It depends on who you are talking to.

Merchants like the fact that the fees are so low and that the transactions are irreversible (no chargebacks).

Consumers like the fact that they can create backups of their money, and that they can secure their cash with a password.

ranlo
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May 20, 2014, 08:27:28 PM
 #6

It's pseudoanonymous, such that you can send and receive funds without people tracking it to your identity. Great for things like pr0n.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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DannyHamilton
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May 20, 2014, 08:29:25 PM
 #7

It's pseudoanonymous, such that you can send and receive funds without people tracking it to your identity. Great for things like pr0n political donations.

FTFY  Grin

ranlo
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May 20, 2014, 08:31:42 PM
 #8

It's pseudoanonymous, such that you can send and receive funds without people tracking it to your identity. Great for things like pr0n political donations.

FTFY  Grin

Sir, please don't press your flawed vision of how the world should work on the rest of us. The Internet was created for one thing: pr0n. Therefore Bitcoin was created for one thing: pr0n. What is the meaning of life? Political contributions pr0n.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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_Miracle
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May 20, 2014, 08:37:12 PM
 #9

No government required

Sometimes there's more truth in forums than anywhere else.  Twitter:  @cryptobitchicks   "I am expressing multiple attitudes simultaneously. To which are you referring?"
jcoin200
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May 20, 2014, 08:45:49 PM
 #10

No government required

Yeah I guess no other reason should really be necessary!
inBitweTrust
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May 20, 2014, 08:51:39 PM
 #11

Any other to add to the list?


Depends upon the target audience but I would mix the security and utility that bitcoin has for the user and than also bring up this film-

https://www.youtube.com/watch?v=BrRXP1tp6Kw

You have to be careful because if you push bitcoin too much you may sound like a fanatic or snake oil salesman. For this reason the best way to gain a convert is:

1) Send them a bitcoin gift of 20-50usd by emailing them the funds through a service like coinbase explaining that this is a promising new technology which has already gained a lot in value. They may not care about it now but when they see it grow in value they will instantly fall in love.

2) Take them out to a restaurant that accepts bitcoin and pay the bill in bitcoin with your cell phone. This will subtly show them that bitcoin is secure, widely accepted , easy to use, and cool all within 20 seconds.

ranlo
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May 20, 2014, 08:53:28 PM
 #12

No government required

Yeah I guess no other reason should really be necessary!

Except it's wrong. Somewhere down the line someone has to convert their coins to fiat (to pay for a supplier). This requires fiat, obviously, which is government created.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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inBitweTrust
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May 20, 2014, 09:05:07 PM
 #13

Except it's wrong. Somewhere down the line someone has to convert their coins to fiat (to pay for a supplier). This requires fiat, obviously, which is government created.

Correct, at least for the time being.

I also don't think talking about the benefits of Bitcoin in opting out of the government is a good thing to initially discuss with new users. If you start discussing the government you may come across as paranoid.

 Technically, bitcoin can be used by socialists and anarchists the same and have value for both. It just allows for the user to ultimately decide unlike in using Fiat where they are indirectly supporting some behavior which they may disagree with.

ranlo
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May 20, 2014, 09:09:40 PM
 #14

Except it's wrong. Somewhere down the line someone has to convert their coins to fiat (to pay for a supplier). This requires fiat, obviously, which is government created.

Correct, at least for the time being.

I also don't think talking about the benefits of Bitcoin in opting out of the government is a good thing to initially discuss with new users. If you start discussing the government you may come across as paranoid.

 Technically, bitcoin can be used by socialists and anarchists the same and have value for both. It just allows for the user to ultimately decide unlike in using Fiat where they are indirectly supporting some behavior which they may disagree with.

The whole anti-government approach is just like the anti-tax one as well. The goal isn't to get around either of them; it's to offer up options. There's a lot of misinterpretation in that area.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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hazek
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May 20, 2014, 09:12:07 PM
 #15

When explaining bitcoins advantages over cash to someone else, there are a few things that come to mind:

1. They cannot be counterfeited
2. Can be sent anywhere in the world with no (or very very low) fees
3. Mining fees dont go to big banks
4. Low transaction fees, coinbase estimated bitcoin could reduce payment processing fees worldwide from $500 billion to $50 billion, so 1/10th of current level

Any other to add to the list?

It works almost like email but for money with some amazing qualities such as: limited supply, irreversible, non-freezable, non-counterfeitable, pseudononymous and almost free to use.

It's basically the equivalent of digital cash or gold that you can almost instantly send to anyone, anywhere in the world at any time.


These two sentences I'd wager would be the best when dealing with a lay person.

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
Cryptopher
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Keep it dense, yeah?


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May 20, 2014, 09:19:01 PM
 #16

One of the biggies is that the blockchain is a public ledger of all transactions between wallets, showing when coins were minted up to the wallets in which they now reside. Transparency with a tweak of anonymity.

You can also share wallets, much akin to sharing cash with a trusted friends/relative.

You can choose your own level of security that best suits your needs. For instance you can store your precious hoard in cold storage, while in contrast you can have some BTC funds lying around in a wallet you use for day-to-day transactions.

Of course, that's not necessarily a perk of Bitcoin itself, but it's important to educate people (at least in summary) that funds can be stored in a security vs convenience manner.

ranlo
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May 20, 2014, 09:20:57 PM
 #17

One of the biggies is that the blockchain is a public ledger of all transactions between wallets, showing when coins were minted up to the wallets in which they now reside. Transparency with a tweak of anonymity.

You can also share wallets, much akin to sharing cash with a trusted friends/relative.

You can choose your own level of security that best suits your needs. For instance you can store your precious hoard in cold storage, while in contrast you can have some BTC funds lying around in a wallet you use for day-to-day transactions.

Of course, that's not necessarily a perk of Bitcoin itself, but it's important to educate people (at least in summary) that funds can be stored in a security vs convenience manner.

With something like Trezor you can store them both conveniently AND securely, Smiley.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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Cryptopher
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Keep it dense, yeah?


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May 20, 2014, 09:26:09 PM
 #18

One of the biggies is that the blockchain is a public ledger of all transactions between wallets, showing when coins were minted up to the wallets in which they now reside. Transparency with a tweak of anonymity.

You can also share wallets, much akin to sharing cash with a trusted friends/relative.

You can choose your own level of security that best suits your needs. For instance you can store your precious hoard in cold storage, while in contrast you can have some BTC funds lying around in a wallet you use for day-to-day transactions.

Of course, that's not necessarily a perk of Bitcoin itself, but it's important to educate people (at least in summary) that funds can be stored in a security vs convenience manner.

With something like Trezor you can store them both conveniently AND securely, Smiley.

At a cost, of course Tongue Convenience and security is where its at.

Humans are usually the weak link in any secure system, but I'm sure that Trezor users are pretty clued up on the basics Tongue

Malin Keshar
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May 20, 2014, 09:28:31 PM
 #19

Tell about the advantages that give BTC intrinsic value, and are unbeatable by the other options:


-you can transfer worldwide with 0.0001 tax, no matter how big or small is your transfer
-historical of valuation year after year
-you can win money by writing messages like this on internet, and much other opportunities to gain money
-the state can't freeze or take your funds.
-in a transaction, you don't need to expose your personal info and credit card number(good for pr0rn sites)
-you won't have to bother about opening 12312 different bank accounts with different taxes to transfer money
-billionaires and MIT putting money on it(among other good news)
-say that blockchain is a protocol, and there are many other interesting applications of the protocol
-bad actions of governments won't destroy bitcoin as it would do with a national currency
-way less taxes to get in the market, compared to other good investments. In general good investments need also good amount of wealth to be profitable despite the taxes.


Think that would be a good introduction. If your friend is not the type interested in economics or for some reason is sympathy with the state, tell him about personal advantages first
ranlo
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May 20, 2014, 09:31:30 PM
 #20

One of the biggies is that the blockchain is a public ledger of all transactions between wallets, showing when coins were minted up to the wallets in which they now reside. Transparency with a tweak of anonymity.

You can also share wallets, much akin to sharing cash with a trusted friends/relative.

You can choose your own level of security that best suits your needs. For instance you can store your precious hoard in cold storage, while in contrast you can have some BTC funds lying around in a wallet you use for day-to-day transactions.

Of course, that's not necessarily a perk of Bitcoin itself, but it's important to educate people (at least in summary) that funds can be stored in a security vs convenience manner.

With something like Trezor you can store them both conveniently AND securely, Smiley.

At a cost, of course Tongue Convenience and security is where its at.

Humans are usually the weak link in any secure system, but I'm sure that Trezor users are pretty clued up on the basics Tongue

And soon we'll be running around with RFID tags that are used to verify payments. And people are going to go cut off fingers so they can steal coins...


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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