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Author Topic: Best aspects of Bitcoin to tell someone about?  (Read 1634 times)
Cryptopher
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Keep it dense, yeah?


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May 20, 2014, 10:35:03 PM
 #21

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...

I'd like to think that humanity would see the pitfalls of such an implementation before falling foul to the obvious criminal implications. That would be taking convenience and security to polar opposites lol.

But then again, we can be inherently stupid. I'm not comfortable with the whole contactless payments that can be made using cards.


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ranlo
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May 20, 2014, 10:38:47 PM
 #22

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...

I'd like to think that humanity would see the pitfalls of such an implementation before falling foul to the obvious criminal implications. That would be taking convenience and security to polar opposites lol.

But then again, we can be inherently stupid. I'm not comfortable with the whole contactless payments that can be made using cards.



People are already running RFID's for different purposes. Some for unlocking their cars, turning off house alarms, etc. People even RFID tag their pets so they can find them easier. I don't see this as being too far-fetched.

There are even kits you can buy now that let you RFID tag yourself (it's got a needle that injects into the skin).


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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May 20, 2014, 10:45:44 PM
 #23

Far vision but NO bank needed.
you can use your usb as your personal bank account.
and backup it anywhere you want.
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May 20, 2014, 11:38:48 PM
 #24

You can hold an entire wallet in your head. knowledge = ownership.

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May 20, 2014, 11:48:31 PM
 #25

How to Market Bitcoin
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Monero - secure, private and untraceable currency.


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May 21, 2014, 04:38:22 AM
 #26

Any other to add to the list?

Limited supply, which is very good argument for anarchist/liberal crew. Re-definition of money, actually, the first real money.

Bitshares - advanced decentralized exchange and asset platform.
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May 21, 2014, 04:40:39 AM
 #27

Any other to add to the list?

Limited supply, which is very good argument for anarchist/liberal crew. Re-definition of money, actually, the first real money.

I know bitcoin is a new type of money. But why do you say the bolded part?

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May 21, 2014, 04:45:56 AM
 #28

Any other to add to the list?

Limited supply, which is very good argument for anarchist/liberal crew. Re-definition of money, actually, the first real money.

The issue is that the supply is going down (or at least after it's all mined). People losing their coins and such turns it into a deflationary currency. I'm sure some think this is good. But really, it makes people afraid to spend it.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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Abdussamad
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May 21, 2014, 04:49:43 AM
 #29

Any other to add to the list?

Limited supply, which is very good argument for anarchist/liberal crew. Re-definition of money, actually, the first real money.

The issue is that the supply is going down (or at least after it's all mined). People losing their coins and such turns it into a deflationary currency. I'm sure some think this is good. But really, it makes people afraid to spend it.

It's a bit like highlander isn't it? In the end there can be only one (satoshi) Tongue

ranlo
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May 21, 2014, 04:53:38 AM
 #30

Any other to add to the list?

Limited supply, which is very good argument for anarchist/liberal crew. Re-definition of money, actually, the first real money.

The issue is that the supply is going down (or at least after it's all mined). People losing their coins and such turns it into a deflationary currency. I'm sure some think this is good. But really, it makes people afraid to spend it.

It's a bit like highlander isn't it? In the end there can be only one (satoshi) Tongue

Satoshi is reading this right now like "but there IS only one Satoshi!"


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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Abdussamad
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May 21, 2014, 04:55:42 AM
 #31

Any other to add to the list?

Limited supply, which is very good argument for anarchist/liberal crew. Re-definition of money, actually, the first real money.

The issue is that the supply is going down (or at least after it's all mined). People losing their coins and such turns it into a deflationary currency. I'm sure some think this is good. But really, it makes people afraid to spend it.

It's a bit like highlander isn't it? In the end there can be only one (satoshi) Tongue

Satoshi is reading this right now like "but there IS only one Satoshi!"

No i meant one satoshi as in the currency unit. If bitcoin survives long enough eventually all bitcoins will be lost except for the last satoshi. Then they will have to increase the decimal places or something.

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May 21, 2014, 05:00:45 AM
 #32

Any other to add to the list?

Limited supply, which is very good argument for anarchist/liberal crew. Re-definition of money, actually, the first real money.

The issue is that the supply is going down (or at least after it's all mined). People losing their coins and such turns it into a deflationary currency. I'm sure some think this is good. But really, it makes people afraid to spend it.

It's a bit like highlander isn't it? In the end there can be only one (satoshi) Tongue

Satoshi is reading this right now like "but there IS only one Satoshi!"

No i meant one satoshi as in the currency unit. If bitcoin survives long enough eventually all bitcoins will be lost except for the last satoshi. Then they will have to increase the decimal places or something.

I knew what you meant. I decided if you wanted to play on words, I would as well.

And my final satoshi will never be lost! I'll be the last one standing!


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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Vintage4X4


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May 23, 2014, 07:47:35 PM
 #33

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 allows people to be responsible with it, non .gov dependent.  Grin

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May 23, 2014, 07:50:12 PM
 #34

I think the best thing about bitcoin is microtransactions. They are perfect for small donations.
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May 23, 2014, 08:38:58 PM
 #35

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
Yeah.

In the near future, cryptocurrency will make theft impossible and irrelevant. The blockchain will also become a tool that assists humanity's transition from capitalism to post-capitalism, though I'm not sure precisely how.

For me that second point is the holy grail of this direction in technology. It's survival. It's ascension out of the hell of our contemporary neo-feudal existence.

The dark ages of illiteracy and superstition ended a long time ago. But the far longer dark age of deception, exploitation, and self-destruction is only now just beginning to end. Thank fuck for the internet.

Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
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The love of fiat is the root of all good


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May 23, 2014, 08:49:57 PM
 #36

Any other to add to the list?

Yes

5. Hackers love bitcoins.

https://www.youtube.com/watch?v=DwQaW9brDVY
ranlo
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May 23, 2014, 10:53:37 PM
 #37

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
Yeah.

In the near future, cryptocurrency will make theft impossible and irrelevant. The blockchain will also become a tool that assists humanity's transition from capitalism to post-capitalism, though I'm not sure precisely how.

For me that second point is the holy grail of this direction in technology. It's survival. It's ascension out of the hell of our contemporary neo-feudal existence.

The dark ages of illiteracy and superstition ended a long time ago. But the far longer dark age of deception, exploitation, and self-destruction is only now just beginning to end. Thank fuck for the internet.

Can you please explain how Bitcoin makes theft impossible when there are multiple companies being charged right NOW with theft of Bitcoins? Trendon Shavers. BFL. Mt. Gox. And there's more.

If anything, theft is *easier* with Bitcoin because there's no trace of who stole it (and they can mix coins to keep them hidden).


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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mercistheman
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May 23, 2014, 11:09:38 PM
 #38

Show them the rate of increase over the last three years... No bank will provide this kind of ROI... It's not too late to be an early adopter.
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May 23, 2014, 11:19:41 PM
 #39

Well I think alot of people already know the reasons why we think its better then cash.
But some people just dont want to change, they only know how to work and earn paper.
For them it's impossible to think it's even possible we dont use paper cash anymore.
For them to change their minds, we need something bigger then just saying its better because all the above reasons.
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May 24, 2014, 06:27:39 AM
 #40

1. Protection against counterfeiting
2. No need for expensive storage.
3. Protection against inflation
4. Ease of doing transactions
5. Very low transaction fees, especially for bulk transfers.

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