WaPo gift article - no paywall

  • bquintb@midwest.social
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    3 months ago
    1. it’s pseudo anonymous and that doesn’t make it a scam. it actually is a great way to track transactions and protect privacy at the same time.

    2.transactions take about 8-10 mins… this makes it a better store of value than spending cash. However, this has been remedied with a 2nd layer application called Lightning Network. And again, this doesnt make it a scam.

    1. more expensive for some, less for others. for instance, it is a very cheap way to transfer money overseas like for many immigrants who support their families in their native country. where Western Union would take a large cut just to move the money, Bitcoin accomplishes the same exact thing, for pennies.

    Maybe you mean you just don’t like Bitcoin? That’s fair, doesn’t make it a scam. Maybe you prefer more anonymous cryptos like monero? That’s fair also, still doesn’t make Bitcoin a scam.

    Personally I prefer Bitcoin because it’s decentralized. Nobody owns it or controls it. The people closest to the money printer don’t have an advantage over the common people who save in it. Not to mention you aren’t surrendering your purchasing power to the government via inflation.