You are viewing a single comment's thread from:

RE: The Reason that BITCOIN Has Value is Because...

in #dlive7 years ago

To elaborate on you point about freedom, I believe that bitcoin uses its technological advances to help us mold our assets into something that's either just a store of value, or a innovative workaround to problems such as the one that wikiLeaks was facing.

Unlike traditional banks, bitcoin development is actively seen providing solutions to holders to lower the barrier of entry for people who want to create seamless, decentralized payment networks from anywhere. This is why SegWit is so appreciated because it lowers transaction fees and transaction times, while the banks would love to have bloated options such as ACH transfers/wires and high overage fees from us forgetting the charge we had on our account 5 days ago still hasn't cleared while we made another purchase.

It also instills a sense of integrity compared to more traditional payment structures. According to this link: https://www.thebalance.com/how-banks-make-money-315473
banks invest the money that they recieve from the people who deposit in the bank, not letting them know unless the customer pursues the information themselves and pays them peanuts in subpar APY rates (Wells Fargo graces you with 0.01%!). Meanwhile bitcoin has a public ledger which shows you where your funds are going and the mempool to see why it cost the amount it does to send your bitcoin to another address.

In short, bitcoin allows you to be versatile with your hard earned money, either by allowing you to become your own altruistic financial institution, or just an average joe trying to increase their net worth by hodling.

Coin Marketplace

STEEM 0.21
TRX 0.25
JST 0.038
BTC 95786.39
ETH 3359.50
USDT 1.00
SBD 3.03