Post
Topic
Board Bitcoin Discussion
Re: Why do people want Bitcoin?
by
icanscript
on 02/02/2018, 21:02:28 UTC
Because they recognize that crypto terms such as Bitcoin are no more virtual than conventional money.
Bitcoins do not have value as a physical commodity, such as gold, and are not accepted as a legitimate tender, like dollars.
People want Bitcoin because it's popular. Bitcoin is a social network. The community of bitcoins is active and acts like other online social networks.
Bitcoin is decentralized and limited. This is an important factor for many Bitcoin users. Bitcoin is difficult for governments to track and collect taxes. In addition, unlike financial money produced by central banks, there is a restriction on common bitcoins, limiting how much the currency can depreciate due to inflation.