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Why would you ever use BitCoins?


Strictly Markets

From $266 to $54.25 in a matter of hours. An 80% fall puts the dramatic crash of the dot-com bubble at the beginning of the century to shame. Even Cypriot banking customers were recently allowed to keep more of their deposits. And this is the “currency” that is supposed to compete and replace fiat currencies, like the US dollar and the Euro, to create a more stable and trust worthy financial system.

BitCoin 2013-04-11


Advocates of BitCoins usually argues that it is the lack of government involvement, central banks and limited and finite supply that make BitCoins a valid and superior alternative to fiat currencies. Business Insider (BI) argues very well against this idea and concludes that BitCoins don’t have any intrinsic value but that fiat currencies do. BI points out that fiat currencies has the “slight” advantage, over BitCoins, of a legal system, authorities and the full force…

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Author: Sarah-Alice Miles

Love to write, create and watch the clouds move across the sky - these days in the Netherlands. 'Art allows us to find ourselves and lose ourselves at the same time'.

2 thoughts on “Why would you ever use BitCoins?

  1. I received this today now you ask me why they need to know all these details . Who gets this data? I suspect Big Brother so they know where every cent comes from and what money comes into your household

    Dear Customer,

    Please be advised that the NZ Anti-Money Laundering and Countering Financing of Terrorism Act 2009 is expected to come into effect early 2013. AML/CFT Act will ensure that businesses take appropriate measures to guard against money laundering and terrorism financing. This enhances the reputation of individual businesses and of New Zealand as a safe place in which to do business.

    To ensure that we are fully compliant with these changes, one of the requirements is to verify the identity of all customers (existing & new customers).

    We would appreciate if you can provide us the following:

    1) Please scan and email to a copy of any of the following valid identification:
    • Passport
    • NZ Drivers license
    • A utility bill (like power, phone, insurance, etc) or bank statement clearly stating your name and residential address (should be less than 3 months old)

    2) Together with the scanned identification, please include in the email the following personal details:
    • Mobile/Landline Numbers
    • Nature of Work
    • Employer Name (if self-employed please state the business name)

    3) Each time you are sending money thru us please use this template and provide us the information of the following:

    Name of Sender (your name)
    Name of Recipient (name of recipient in Philippines)
    Relationship (to the recipient ex. Husband, Father, Son, etc)
    Amount (state if fee is included or not)
    Source of funds (where your money is coming from ex. Salary, Profit/Interest gained from business/investment)

    Rest assured all personal information you provided is strictly confidential.

    Please submit before 1 April 2013.

    NOTE: We will not accept transactions starting 2 April 2013 if the above are not complied.

    We thank you in advance for your cooperation and should you have any questions about this request please feel free to contact us.


  2. This was done by the banks buy as much bitcoins then flood the market so the value dropped so they make sure no one else buys into bitcoins and stay with the banks check out this website as he said this would happen before it did happen….


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