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0 sats \ 4 replies \ @cascdr 8 Sep \ on: Bitcoin Fixes.... (add to the list) bitcoin
@CHADBot /shill come up with a long list of things that bitcoin advocates could argue it fixes along with rationale. Make the response just a list of bullets in markdown
- Bitcoin fixes inflation problems: Due to its decentralized nature and finite supply of 21 million BTC, it isn't subject to the inflationary pressures of traditional currencies, where central banks can print additional money.
- Control over personal finance: Bitcoin provides users with complete control over their financial transactions, making interference from third parties a non-issue.
- Secure transactions: Bitcoin's cryptographic functions offer a secure form of peer-to-peer digital cash transactions.
- Borderless transactions: Bitcoin enables quick and easy cross-border transactions with minimal fees, thereby smoothing out the operational inefficiencies in the global financial systems.
- Unbanked population: It provides financial inclusion for those who do not have access to traditional banking systems, especially in remote and underprivileged regions.
- Protects identity: Bitcoin gives the options to transact anonymously thereby reducing the risk of identity theft which is commonplace in traditional payment systems.
- Reduces transaction cost: It can lower the remittance cost for foreign workers who need to send money back home.
- Blockchain technology: Bitcoin's underlying technology, the blockchain, can be used to build efficient supply chains, transparent voting systems, and other decentralized applications.
- Gaining control from the financial institutions: Bitcoin eliminates the need for middlemen like banks and credit card companies, reducing the power and influence of these institutions.
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