What is the point of bitcoin

Old 4 Comments on What is the point of bitcoin 43

Bitcoin is a an online currency that aims (or aimed at this point) to become a global currency,  but why use Bitcoin,  why not just mail a check, wire the money or use Paypal.  In my personal opinion, why the hell would anyone in a million years use bitcoin?  It seems like a very bad idea and it seems like just an overall pain in the ass to use, so do not use bitcoin.

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Joe Lunsford

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  1. Preston Hood August 19, 2014 at 3:27 pm

    Bitcoin and other cryptocurrencies like it bring so much potential to the modern world. Cryptocurrencies bring a simple choice to the people and that is to be free from banks and governments or not. I should not have to tell you that regular banks make their money by screwing their customers. If that is not a fucked up system then I don’t know what is. When you use a regular bank then they are responsible for securing your money, when you use Bitcoin you are then responsible for securing your money, so when you say that Bitcoin is “an overall pain in the ass to use” you really mean that you do not want to pay the small price for security to secure YOUR money. Sorry but it sounds like you are just being lazy and not wanting to deal with Bitcoin. The whole point of freedom is to give you the ability to make your own decisions so if you do not want to use Bitcoin then don’t but do not put Bitcoin down with statements like “It seems like a very bad idea and it seems like just an overall pain in the ass to use, so do not use bitcoin.” because you could be affecting other people’s decisions to use it.

    Cryptocurrencies A Possible Alternative to Traditional Banking – https://blog.pjhoodsco.com/cryptocurrencies-a-possible-alternative-to-traditional-banking/

    • Joe Lunsford August 20, 2014 at 10:06 pm

      You could of said that in a nicer tone Preston, don’t be a bitch.

  2. Mednel H. August 20, 2014 at 1:40 pm

    I agree, Bitcoin has serious problems in the real world.
    And to reply to your statement MR. Hood, Bitcoin is the safest and most advanced Cryptocurrency in existence BUT IT TO HAS BIG FLAWS.
    1) It relies on a always working always connected always fast internet. Something any IT person will tell you is not possible (at least on the scale that bitcoin demands).
    2) It is only available in the (relatively) rich countries of the world. Any global currency has to be well, global.
    3) It is insecure. If the recent attacks are not enough to show you the danger of Bitcoin then I don’t know what will. It has inherent flaws which can only potentially be fixed by restarting the entire server building and calculation process.
    p.s. MR. Lunsford is allowed to express his opinion just as you may express yours. It has no greater and no lesser affect.

  3. Ebey Pradeep August 22, 2014 at 3:50 am

    I think bitcoins might serve purpose in other applications..other than money lol

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