50 Reasons to Pay Attention to Bitcoin by Zach Doty

[rogerver]

50 Reasons to Pay Attention to Bitcoin



1 CONTROL; you are FULLY in control of YOUR money
2 Freedom; other people can’t vote your money away
3 Support the separation of state and money
4 No middlemen; bitcoin disintermediate the financial world
5 No transaction fees (~$0.003 ledger fee for on-chain)
6 No borders; send money to anyone; access anywhere
7 No transaction delays; propagation time < 1 second
8 No ‘banking hours’; control your money 24/7
9 No minimum account balance
10 No overdrafts (predatory fees: $32B /year in US)
11 No risk of identity theft ($1.5B /year in US)
12 No inflation (limited money supply)
13 No minimum age; it's the currency of the next generation
14 No bank runs; for that matter, no walks to the bank either
15 No bank holidays; just a lifetime holiday from the banks!
16 No capital controls
17 No hidden taxation
18 No bank bail-ins
19 No paperwork (my bank had 5 pages of fine print!)
20 No chargeback fraud; fast settlement (~10min, soon faster)
21 Permissionless innovation; build the next financial app
22 Privacy; digital assets without a registered name
23 No social exclusion; poor people can use bitcoin
24 No censorship; send money to anyone
25 No account freezes or levies
26 Opt out of fiat and boycott the banks & government
27 No dealing with bankers; no supporting the war-dollar
28 No lost/manipulated records; immutable ledger entries
29 It will likely be worth a lot (>$1T market cap) in the future.
30 Bitcoin is an antifragile technology; it gains from disorder
31 Bitcoin is open source; it evolves and improves daily
32 Bitcoin is still early-stage; huge potential innovation
33 15-45% discounts (Amazon, Starbucks, Etc)
34 No counterparty risk; its decentralized
35 Not fractional reserve; not a debt-based economy
36 Use a currency that rewards saving (good behavior)
37 Huge potential in future robotic/machine economies
38 Potential for decentralized economic actors
39 Lost bitcoins will result in long-term M1 deflation
40 Escrow without escrow agents or paperwork
41 Safely store money in your mind with brainwallets
42 Use multiple wallets organize your money (like folders)
43 IPO without paying millions of dollars
44 Smart contracts; imagine a world without the need for lawyers
45 Smart property; imagine a car that checks the blockchain
46 Smart money; bitcoin is the first ‘programmable money’
47 Cash is king; bitcoin is cash for the internet
48 Investment hedge against currency or societal collapse
49 Help end world poverty & hunger for the 3 billion underbanked
50 #1 fastest growing industry for VC investments


by Zach Doty

[bitkilo]

Nice list but i don't understand No: 36, Use a currency that rewards saving (good behavior)
How does bitcoin do this?

[kingscrown]

Nice list but i don't understand No: 36, Use a currency that rewards saving (good behavior)
How does bitcoin do this?

Maybe by PURSE.io (no idea)

[rogerver]

Nice list but i don't understand No: 36, Use a currency that rewards saving (good behavior)
How does bitcoin do this?

I suspect he means that it isn't inflationary like government issued currencies that are worth less over time.
Bitcoin is likely to be worth more over time, so it rewards saving.

[iFixBTCmemoryIssues]

50 Reasons to Pay Attention to Bitcoin



1 CONTROL; you are FULLY in control of YOUR money
2 Freedom; other people can’t vote your money away
3 Support the separation of state and money
4 No middlemen; bitcoin disintermediate the financial world
5 No transaction fees (~$0.003 ledger fee for on-chain)
6 No borders; send money to anyone; access anywhere
7 No transaction delays; propagation time < 1 second
8 No ‘banking hours’; control your money 24/7
9 No minimum account balance
10 No overdrafts (predatory fees: $32B /year in US)
11 No risk of identity theft ($1.5B /year in US)
12 No inflation (limited money supply)
13 No minimum age; it's the currency of the next generation
14 No bank runs; for that matter, no walks to the bank either
15 No bank holidays; just a lifetime holiday from the banks!
16 No capital controls
17 No hidden taxation
18 No bank bail-ins
19 No paperwork (my bank had 5 pages of fine print!)
20 No chargeback fraud; fast settlement (~10min, soon faster)
21 Permissionless innovation; build the next financial app
22 Privacy; digital assets without a registered name
23 No social exclusion; poor people can use bitcoin
24 No censorship; send money to anyone
25 No account freezes or levies
26 Opt out of fiat and boycott the banks & government
27 No dealing with bankers; no supporting the war-dollar
28 No lost/manipulated records; immutable ledger entries
29 It will likely be worth a lot (>$1T market cap) in the future.
30 Bitcoin is an antifragile technology; it gains from disorder
31 Bitcoin is open source; it evolves and improves daily
32 Bitcoin is still early-stage; huge potential innovation
33 15-45% discounts (Amazon, Starbucks, Etc)
34 No counterparty risk; its decentralized
35 Not fractional reserve; not a debt-based economy
36 Use a currency that rewards saving (good behavior)
37 Huge potential in future robotic/machine economies
38 Potential for decentralized economic actors
39 Lost bitcoins will result in long-term M1 deflation
40 Escrow without escrow agents or paperwork
41 Safely store money in your mind with brainwallets
42 Use multiple wallets organize your money (like folders)
43 IPO without paying millions of dollars
44 Smart contracts; imagine a world without the need for lawyers
45 Smart property; imagine a car that checks the blockchain
46 Smart money; bitcoin is the first ‘programmable money’
47 Cash is king; bitcoin is cash for the internet
48 Investment hedge against currency or societal collapse
49 Help end world poverty & hunger for the 3 billion underbanked
50 #1 fastest growing industry for VC investments


by Zach Doty

Our governments must look at this list and say, "If we allow Bitcoin, we will be screwed."

[bitc0in]

51. If internet is getting shut down, bitcoin still works.

[Watson503]

Great list and so very, very true.