Quote from: seebu4u on December 04, 2018, 04:47:56 PM

Quote from: buwaytress on December 04, 2018, 10:33:23 AM

Not sure what you mean by can't get physical commodities. Lots of cases where Bitcoin's been used to exchange for exactly that: real estate's a prime example where even cash isn't preferable for single-payment buys.

Worse come to worse, Bitcoin is exchangeable almost anywhere in the world for almost any currency - and that's not decided by any country or bank, there's just simply millions of people and businesses that will readily accept your Bitcoin.

Name 1 other currency that you can use anywhere in the world to exchange for the country's currency. Don't say USD either, some countries prohibit those, and you'd need to find a moneychanger in 90% of the world. Bitcoin? Go p2p and there's plenty of people ready to take your bitcoin.

It being stateless isn't a shortfall, it's one of the very things creating value for it.

I got your point. i am really thankful for this much detailed and helpful answer but dont you think this could help people to launder their black money so easily and this is also tax free. it could be beneficiary for the rich individuals but it world hurt poor people in poor countries.

Contrary to what you may have been reading, Bitcoin's current architecture does anything but help people launder money. Just need to look back on recent examples of how launderers using Bitcoin were easily caught because of how easy it can be to track money on a public ledger. Obfuscation might make tracking more difficult but all these analytics software developed for law enforcement is getting better daily.

The last form of money you want to use to launder is one where your records can't be changed, can't be erased and can't be hidden.