Topic: bitcoin is not discriminatory (Read 179 times)
The global use of bitcoin cut across board which is another feature that makes it distinct from other currencies, particularly paper currency like US dollar, the non discriminatory nature of bitcoin makes it ownership possible across every sector of a society the rich, the poor e.t.c could have access to it.
Bitcoin offers anonymity to everyone who uses it. Thus, it is safe to say that it is not discriminatory. However, anonymity is a double-edged sword; it encourages people to use it in illegal transactions. A study suggests that almost 50% of all bitcoin transactions are illegal. This is not so surprising if we consider the nature in which bitcoin technology thrives. However that may be, there are still ways to combat this problem like monitoring and filtering stuff that are going on the internet.
Bitcoin is a new system of mutual settlement between people. It is a project that will develop beyond the dependency of individual groups of people, states or officials. Bitcoin is true money, the analogue of which was still in the middle ages in the form of gold!
Right. Bitcoin is very fair. Bitcoin does not discriminate between buyers and sellers. Bitcoin payments directly to investors. You can buy or sell bitcoin at any time. Bitcoin always create trust for investors.
if I analyze the character of bitcoin, I can conclude that bitcoin has the potential to be a non-discriminating currency.
everyone can use bitcoin without knowing the boundaries of limit, group, skin, religion, region, and even economic conditions.
and this is against with the current financial system today. a service of a domestic or foreign financial institution must be using KYC rules, the financial institution must obey with KYC rules to reduce the risk of money laundering, or suspicious activity.
and bitcoin does not limit the transaction system, and bitcoins use a key pair called the public key and private key. and therefore many people judge that bitcoin will be the place of criminal transactions. this is the wrong statement. even though this problem can be solved. because the transaction data bitcoin stored safe and difficult to manipulate.
everyone can use bitcoin without knowing the boundaries of limit, group, skin, religion, region, and even economic conditions.
and this is against with the current financial system today. a service of a domestic or foreign financial institution must be using KYC rules, the financial institution must obey with KYC rules to reduce the risk of money laundering, or suspicious activity.
and bitcoin does not limit the transaction system, and bitcoins use a key pair called the public key and private key. and therefore many people judge that bitcoin will be the place of criminal transactions. this is the wrong statement. even though this problem can be solved. because the transaction data bitcoin stored safe and difficult to manipulate.
I also think the same with the fact that anyone can join in this market and does not even look at your asset or resources. All are free to join. Also even in bitcoin exchanges you can even trade using a small amount of dollars unlike stock exchanges that have a minimum of 100$. Bitcoin does not discriminate the poor from the rich and everyone is welcome unlike banks that discriminates people who wears rugged clothings.
I don't think bitcoin is currently being used for criminal purposes. For these purposes, it is much easier to use anonymous cryptocurrencies. This can be for example Monero. Bitcoin of course was used for criminal purposes, but it was a long time ago. At that time there were no fully anonymous coins.
~ many people judge that bitcoin will be the place of criminal transactions.~
there is a difference between people thinking it and media saying it.
there may have been a time in the past when people though bitcoin is used for criminal activities alone (before 2013 maybe) specially because things such as SilkRoad existed and were famous but as time passed and people became more familiar with bitcoin and the illusion of bitcoin being anonymous went away, and also as bitcoin was adopted by merchants and countries such as Japan the number of people thinking that way dwindled to nearly no one.
Yes, you are definitely right.
Bitcoin is a useful way of moving money yourself to the next person across international borders with no middle man like banks, thus resulting to very low costs. It is completely decentralised meaning it is not controlled by any government, regulating body, individual company, or person nit rather transactions are kept across a distributed network of computers with no single point of failure or single centralised control.you don't need to trust other people to hold your money because the only person who can access your account is you only.
Bitcoin is a useful way of moving money yourself to the next person across international borders with no middle man like banks, thus resulting to very low costs. It is completely decentralised meaning it is not controlled by any government, regulating body, individual company, or person nit rather transactions are kept across a distributed network of computers with no single point of failure or single centralised control.you don't need to trust other people to hold your money because the only person who can access your account is you only.
if I analyze the character of bitcoin, I can conclude that bitcoin has the potential to be a non-discriminating currency.
everyone can use bitcoin without knowing the boundaries of limit, group, skin, religion, region, and even economic conditions.
and this is against with the current financial system today. a service of a domestic or foreign financial institution must be using KYC rules, the financial institution must obey with KYC rules to reduce the risk of money laundering, or suspicious activity.
and bitcoin does not limit the transaction system, and bitcoins use a key pair called the public key and private key. and therefore many people judge that bitcoin will be the place of criminal transactions. this is the wrong statement. even though this problem can be solved. because the transaction data bitcoin stored safe and difficult to manipulate.
everyone can use bitcoin without knowing the boundaries of limit, group, skin, religion, region, and even economic conditions.
and this is against with the current financial system today. a service of a domestic or foreign financial institution must be using KYC rules, the financial institution must obey with KYC rules to reduce the risk of money laundering, or suspicious activity.
and bitcoin does not limit the transaction system, and bitcoins use a key pair called the public key and private key. and therefore many people judge that bitcoin will be the place of criminal transactions. this is the wrong statement. even though this problem can be solved. because the transaction data bitcoin stored safe and difficult to manipulate.
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