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0 sats \ 3 replies \ @fm 19 Sep 2023 \ on: Bitcoin is better than any other forms of money bitcoin
please elaborate :p
Bitcoin is better than gold,
Gold is not a convenient medium of exchange. The weight and fineness of the amount of gold being offered in a transaction have to be
verified, which can be time consuming and costly.
Gold mining is subject to the jurisdiction they are located in and the local government can easily impose controls over the gold output since it is physical in nature. The same cannot be easily said with bitcoin mining since bitcoin is digital and can be instantly secured from control or confiscation by third parties. Central banks and governments control the vast majority of the global gold supply. Gold needs a custodian, or third party, to transact globally. Gold requires trust. We know banks control the custodian game, and governments and banks are closely intertwined.
Bitcoin is better than fiat
Fiat money is inefficient for cross-border payments, which are expensive and may take days to be settled. While, Bitcoin can be sent and received by anyone, anywhere in the world at any time, without relying on a financial institution.
Fiat money promotes discrimination, censorship and manipulation, since banking options are not available everyone. While, Bitcoin can be sent and received by anyone, anywhere in the world at any time, without relying on a financial institution.
Merchants, who use fiat money, need to work with a payment processor and pay transaction fees to accept payments which are subject to chargebacks. While, Bitcoin transactions are irreversible, suitable for merchants to avoid chargebacks.
Bitcoin has transactions that process, almost instantly and cost less than 1%, making it ideal for micropayments.
Bitcoin can be sent and received by anyone, anywhere in the world at any time, without relying on a financial institution.
Bitcoin transactions are irreversible, suitable for merchants to avoid chargebacks.
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is it? or has the potencial?
Smell a maxi here ;p
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Has a potential, indeed
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