Re: Russian Law Would Send Bitcoin Users to Jail as Cybercriminals
No, it's money that *you* want the internet to need. Probably because holding a bagful.
Believe me, I don't hold a bagful ))) unless 1.7 is bagful for you.
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1) It allows micropayments without visa, mastercard commission (roughly 0.35 usd +3%)
Bitcoin does not allow micropayments, it's already the leat efficient micropayment channel. what kind of a micropayment channel charges five cents to send a penny shaving? What kind of a micropayment channel can handle *3 TRANSACTIONS PER SECOND, MAXIMUM SUSTAINED"?
Ok lets compare visa payments micro and macro (i don't see any positive sides for visa):
Visa: 0.5 USD + 0.35 + 0.01 = 0.86
Bitcoin: 0.5 USD + 0.03 = 0.53
Visa: 1000 USD + 0.36 + 30 = 1030.36
Bitcoin: 1000 USD + 0.03 = 1000.03
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2) You can transfer money abroad without banks and Westernunion (20% and 30 minutes in the bank)
No. You can transfer bitcoins abroad. Then the recipient has to sell those for actual money. The trick is difficult, that's why so many remittance cos went belly up.
You need to buy shit abroad, use your international CC
I hope that in the near future he would not have to sell for fiat money, the same as earlier when few people accepted Credit Cards in their stores. Back than they also wanted actual money, not plastic cards.
Transferring money with western union abroad also requires to chance actual money (USD) to actual money (RUB).
As you can see buying things abroad with visa is very expensive (commission is very high) compared to bitcoin.
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3) You don't need to open any account at the bank to transfer funds (not everyone in the world has that opportunity)
So those underserved living on < $2/day have internet and computers/unlimited 4G on their iPhone contracts?
Right now a limited 3G is more than enough even on the cheapest android.
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4) No central authority or government can stop you from using these benefits. (freeze your account)
Err... Right, weren't we talking about bypassing AML/KYC? Yeah, we were, and now you're listing it as one of bitcoins' advantages.
I am not talking about bypassing anything. I am talking about using it as a normal person to transfer your OWN money where you want, (coffee, pizza, sell and buy computer, etc). Because it is your money.
Two of my friends used PayPal to sell their stuff on ebay, both of their accounts were blocked for no objective reason. And then restored after 6 months of emails and calls to prove that they were not doing anything bad. In the end everything worded out, but their own money was frozen for 6 months and they wasted their own time to prove that they are not criminals. Absurd.
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Before bitcoin there was crime, after bitcoin there will be crime. Bitcoin is not helping and not stoping it.
Well no, bitcoins is helping it, that's what we're talking about. Yes, you can do khrrymez without bitcoins, but bitcoins makes shit like ransomware and extortion a hell of a lot more practical. That's why 40% of all interweb crimez involves bitcoins
Interesting where you get the 40% stats. Read this article and realised that there are other payment methods that people are also using that are pseudo-anonymous WebMoney, PerfectMoney, Yandex Money.
https://securityintelligence.com/cyber-criminals-dilemma-bitcoin-platform-target/
They would use bitcoin much more but they don't like the volatility and few places they can spend it. I am wondering why do these three exist (WebMoney, PerfectMoney, Yandex Money) if hackers are using them for anonymity... Why not ban them if people manage to use them for hacking. I am serious. Bitcoin is just not convenient enough for many. Maybe soon they will transfer from these 3 to bitcoin. But why blame bitcoin if it becomes less volatile for them to use? I mean they successfully used those 3, no one blocked those three, but lets ban bitcoin just in case. It would be fair to say lets block anything that is pseudo-anonymous and control everybody.