Why do people use bitcoin?

[Karm]

Just wondering why there is so many people buying bitcoin?

Do they use bitcoin to buy illegal stuff or am I missing something? That's the only reason I see it being useful (I know nothing about bitcoin)

 

[hgbf]

When I use bitcoin (quite rarely), it is for privacy reasons. I think this is generally one of the big reasons tbh. Of course, there are always some people who will use it for malicious purposes, but I'd guess that most use it legitimate.

(And then some people buy to hold it, hoping the value will increase.)

 

[Lex]

1) No chargebacks
2) Complete identification privacy
3) Investments to make money

Also I don't see why BTC is always taking the blame for malicious use. Most PayPal users are under the age of 18 & have most likely broke their TOS at least once. You can start accepting + sending payments on a low level with PayPal as easily as you can with BTC.

 

[Karm]

Thank you all for the information!

Another question, why isn't there like an official bitcoin website where you can login and use it like paypal? Like, why do I NEED a separate wallet?

 

[Lex]

Thank you all for the information!

Another question, why isn't there like an official bitcoin website where you can login and use it like paypal? Like, why do I NEED a separate wallet?

The wallets are like your bank, BTC is just the currency like USD.

 

[croissant222]

so assholes can't charge shit back like PayPal, also for complete anonymity, especially if you're dealing with creeps.

its not complete anonymity

 

[hgbf]

Thank you all for the information!

Another question, why isn't there like an official bitcoin website where you can login and use it like paypal? Like, why do I NEED a separate wallet?

I think the official site is https://bitcoin.org/

 

[Karm]

I think the official site is https://bitcoin.org/

Sure thing, but I was confused as to why there was no way to like log in, in which Lex already explained. Thank you anyhow!

 

[croissant222]

Thank you all for the information!

Another question, why isn't there like an official bitcoin website where you can login and use it like paypal? Like, why do I NEED a separate wallet?

the point of btc is to be decentralized so there isnt one person or group who controls it

bitcoin tumblers exist

its gonna take more than a bitcoin tumbler to make you anonymous using bitcoin
sure its possible which is why so many people use it for illegal activities but bitcoin is hardly anonymous by itself

 

[one two three]

its gonna take more than a bitcoin tumbler to make you anonymous using bitcoin
sure its possible which is why so many people use it for illegal activities but bitcoin is hardly anonymous by itself

xmr and zec are the only true priv cryptos atm, correct me if wrong

best bitcoin "tumbler" is btc-->xmr/zec-->another xmr/zec addy-->btc

 

[UnknownT]

I mean you’d have to be doing something so illegal to need to use multiple tumblers at once through different currencies you may as well not worry about it, for the most part it’s untraceable, in my experience most people can do is see who’s sending you money and where your sending money.

 

[NiceKB]

Money..

 

[pramsing]

The majority of people that use crypto use it because:
- no chargebacks
- won't get limited when they're caught doing illegal or tos breaking stuff, whether that's as simple as being underage or registering with a fake name.
- Easy to evade taxes using crypto

Realistically if you have nothing to hide then PayPal would be sufficient for you, other than the risk of bank chargebacks.

All of the people that said they use it for "anonymity" are probably tax evading
using crypto, or other sketchy stuff.