Bitcoin vs Cash Debate
Comments debate Bitcoin's advantages and disadvantages compared to cash, focusing on privacy, censorship resistance, regulation, portability, and suitability for illicit transactions or evading authorities.
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How bitcoin is worse than cash in this regard?
Bitcoin is more regulated and more spied on than most forms of payment. To turn a large amount of Bitcoin into dollars in a bank account, you have to go through extreme AML/KYC checks. I can go to a gas station in California and send $1000 in cash to someone in Turkey who could receive cash and walk out a few minutes later. A briefcase full of cash is not regulated at all and can be used to settle debt or pay taxes, unlike Bitcoin. The only advantage of Bitcoin is not requiring the risk of
What has Bitcoin fixed other than the ease of my buying a rocket launcher on the dark web?
Bitcoin has value as a cheap and censorship-resistant way of transferring funds.
Please explain how bitcoin is better drug money than cash
But would that not defeat the purpose of Bitcoin (don't need to interact with the massive financial institutions, anonymity, etc.)?
Bitcoin is the most popular currency that no one can take from you (as in Greece), that you can carry in your mind (brain wallets), that is deflationary instead of inflationary. It is censorship-resistant currency. Bitcoin weighs nothing. Unlike other currency, it is not subject to the whims and monetary policy of a government regime. Fiat can be taken, transfers blocked, accounts closed, administratively lost.Bitcoin is the "World Wide Ledger" for the World Wide Web.Take a look
No it isn't. You could do the same thing with dollars in the mail. All bitcoin does is make it easier to commit shady transactions.
"the entire point of bitcoin is circumventing seizure"[citation needed]There are many reasons to want to use Bitcoin.Plus it is much more seizure resistant than centralized systems like banks.
there are many problems better solved by bitcoin than classical solutions. one example is as a bank account in a low trust society with high inflation (there are many such countries). creating a bitcoin wallet is extraordinarily easy and once you've acquired the bitcoin it's uncensorable and unconfiscatable. this is better than the classical solution, right?