The purpose of bitcoin is that the user controls it. It's about trust. Do you trust a bank with your money? Cypriots sure found out the hard way when their bank accounts were suddenly frozen. Do you trust a government with your currency? Argentinians sure don't as they're experiencing 10-20% inflation rates. Bitcoin allows you to store your wealth without being fleeced by currency controls of parasitic central banks. It's refreshing and quite profitable.
Correct, bitcoin lets YOU hoard and speculate - which is a healthy mechanism in a free market.
In our current fiat debt based system, it's mostly corrupt inside traders who get that privilege.
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The purpose of bitcoin is that the user controls it. It's about trust. Do you trust a bank with your money? Cypriots sure found out the hard way when their bank accounts were suddenly frozen. Do you trust a government with your currency? Argentinians sure don't as they're experiencing 10-20% inflation rates. Bitcoin allows you to store your wealth without being fleeced by currency controls of parasitic central banks. It's refreshing and quite profitable.
The purpose of bitcoin is hoarding and speculation.
They're your bitcoins. You can do whatever you want with them, unlike fiat.
Correct, bitcoin lets YOU hoard and speculate - which is a healthy mechanism in a free market. In our current fiat debt based system, it's mostly corrupt inside traders who get that privilege.
Not exactly healthy for something that's supposed to be either a currency or a payment method though.