tdhanses
WKR
- Joined
- Sep 26, 2018
- Messages
- 5,903
What are you guys doing that it is even a concern to worry about either way?
No that wasn't my point and we're getting kind of off track with this traceability thing anyway.. not really important for what we're talking about. But you're right, the average joe probably will not trace the money coming into their business nor do they have any responsibility to in most cases.Do you honestly think the average Joe/ or business that you buy something from is going to trace your money? I will take my chances with cash vs a computer that I know can be traced.
Do you honestly think the average Joe/ or business that you buy something from is going to trace your money? I will take my chances with cash vs a computer that I know can be traced.
So, it is backed by absolutely nothing. It's worth what they say it's worth, basically, because they say that's what it's worth. It's a tool for the dark web and conspiracy theorists. Gold may be heavy, but you can buy stuff with it anywhere in the world, no internet connection needed.I'm not an expert by any means.
The best benefit for companies who use it is lower fees - The fees are 33-50% less than accepting credit cards. Companies are paid in USD.
When you ask what is it "Backed" by - well its backed by the technology that has kept a flawlessly running ledger for billions of transactions.
What is appealing to it, is that it is scarce and decentralized. No government can "shut it down" because no one owns the blockchain. As long as one computer in the world is still up to date, the transaction ledger is in tact.
The USD dollar is backed by nothing now days, other than the power of the United states. The federal reserve just keeps churning out paper that we deem valuable.
I see the value in gold because it is tangible and easy to liquidate. But gold is heavy and easily manipulated *crypto is easy to manipulate too*
Its just appealing as a libertarian to have a payment system that is untraceable and unregulated.
The fact that I can't even buy a spotting scope shows me that bitcoin is in its infancy in terms of mass adoption.
@Ellensburg (tagging you to skirt the debate above) there are a couple sites that show you places that accept crypto, below are a couple. Overstock.com accepts payment in Bitcoin. If you have other currency, swap it for BTC and go for it. Overstock has some random optics.
List of Online Stores Accepting Bitcoin | UseTheBitcoin
A long list of online stores who are accepting Bitcoin. As crypto moves into the mainstream, these places are among the top adopters.usethebitcoin.comWho Accepts Bitcoin? 9 Major Companies
Whether it is for marketing purposes or to stay up with the times, many companies have benefitted by being early adopters and accepting Bitcoin. Here are a few major companies that are currently accepting Bitcoin, as it becomes more widely accepted online. In 2023, companies are looking at new...www.buybitcoinworldwide.com
Bitcoin is due to halve 5/11-12 sometime. It could be exciting in the mean time.