Tuesday, June 27, 2017

9 Reasons I Love Bitcoin

TL;DR: I love Bitcoin for what it is, for what it gives the users, and for what it can be in the future.

HERE Are the List of my Reasons,
I love Bitcoin because:
    • it was invented during my lifetime, and I'm watching history live, from my own perspective. 
    • no one can hack it, which means it's a very secure system, you know that no one can just one day take the money you have in your account.
    • I can be my own bank. I can buy bitcoin and just save it until the time that I want to spend it. It won't take the money from me even if I don't make a deposit for months.
    • it gives user the freedom to do what they want with their own money, without a bank asking them what they are going to use this money for when they withdraw a large amount from their account.
    • It's decentralized, which means no one can just decide to shut it down when they want to, because it is run by computers all over the world. Although, mining now is centralized in China, the nodes are still decentralized. 
    • there's no third party to trust, no third party needed for me to send money from my account to another person across the globe. I can just talk to the person I want to send the money to and give the bitcoin to him/her.
    • I don't have to give out any identification when making a direct transaction with another bitcoin user.
    • there will never be an inflation in bitcoin. There is going to be only 21 million bitcoins that will ever exist... except if there becomes 2 bitcoins, w/c still means the currency has 21 million on each... (need to create another post for this.)
    • because someday Bitcoin will be used not only for a currency, I heard about smart contracts and liquid sidechains, I don't understand them fully, but I think they are part of several applications that can be done on top of the protocol.
      Bitcoin gives me the freedom to do what I want with my own money. Although I don't own that much lolz. I agree with what Bobby Lee said in his tweet:
      That's why I don't consider our country truly free, I mean when you have trillions of debt in IMF and in other countries (namely China), how can you consider yourself free? (Topic for another blogpost).

      So, I'll probably be in the Bitcoin community all my life from now on. I don't have that much money to invest in it or to hodl, but I am part of this revolution in my own little way. :)



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