Bitcoin: What is it? 10 Pros & Cons

the corrupt fear bitcoins

The corrupt fear Bitcoin

 

Bitcoin is a virtual currency that is not regulated,restrained or taxed by any government. So unfortunately you can’t bite your coins or save them in your pot. Before you get with the times and decide to get into Bitcoin’s you should read the pro’s and con’s first.

 

Pro’s:

  1. Untraceable you remain anonymous and cannot be tracked.
  2. No taxes so that means the FED won’t end up taking your hard-earned money.
  3. Direct transactions basically you only deal with the seller no middlemen or big government to worry about. 
  4. Instant transfer when you pay someone with Bitcoin’s they receive their money almost instantly.
  5. Debt free unit means that Bitcoin’s are created not loaned so you never pay interest for printing of money ever again.

Con’s:

  1. No widespread use not a lot of companies or people use Bitcoin’s to barter just yet.
  2. Bitcoin value can change instantly one minute its worth 30 dollars next minute its worth 30 cents based on the Bitcoin market.
  3. Is used to launder money by criminals  
  4. Only good for non tangible items things that cannot be shipped to you because if they are shipped to you then big brother will discover your identity.
  5. You cannot apply for Bitcoin loans or credit so you can’t make interest on Bitcoin’s.

 

I personally think Bitcoin’s are a great idea. Big Brother already has too much power and this is a great way to keep those bitches at bay. 

If you are interested in using this new currency or want to learn more about it visit Bitcoin.org, become a user, download the Bitcoin software and create a digital wallet.

After you set up your digital wallet, you can create any number of addresses, long alphanumeric strings that serve as your monetary identity, like a credit card number or a username on an online marketplace.

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