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Line 14: − ==Why is Bitcoin Hated== − === 1. Bitcoin Has Low Transaction Fees=== − According to [[Jack Spirko]] of [[The Survival Podcast]], "The transfer fees for doing business with bitcoin are very low and it has the potential in time to take major market share from the [[bank|financial institutions]]. This is a multi billion dollar market that is currently under major threat from bitcoin. Simply put bitcoin threatens the status quo of the [[bankster|monetary elite]], why do you think [[JP Morgan]] is on board with the smear campaign? Do you really think that they care if money is used to buy drugs? Do you really think no one has ever used a JP Morgan account to buy or sell something illegal before?"<ref>[http://www.thesurvivalpodcast.com/we-now-accept-bitcoin-for-msb-access Bitcoin is hated for two major reasons…] by [[Jack Spirko]] of [[The Survival Podcast]], February 2, 2014.</ref> − === 2. Bitcoin Can’t be Controlled or Seized === − Jack Spirko explains, "Right now more and more [[capital]] controls are being put in place by financial institutions and governments alike, not just in the US but around the world. Many [[The Survival Podcast|TSP]] listeners sent me copies of letters from their banks strictly limiting or eliminating their ability to transfer money out of the country. This is but one example of coming capital controls. In [[England]] now customers must show good cause to withdraw money over a certain amount from their own bank accounts. This is all about control folks. The problem for the [[elitist|elite]] is bitcoin can be held in a huge variety of ways, many of which make it impossible for authorities to control or seize. For instance you can set up a paper wallet, this means your bitcoins are in the block chain somewhere but you don’t have an account to log into, there is nothing to attack."<ref>Ibid</ref> − + − + + + + + + − + + + + + − + − + − + − * [[Monero]] − * [[Counterparty]] − * [[Lumens]] − * [[ByteCoin]] − * [[PeerCoin]] − * [[NXT]] ([[Proof-of-Stake]]) − * [[MaidSafeCoin]] − * [[Ethereum]] − * [[GridCoin]] − * [[CureCoin]] (awarded for folding proteins for medical research) Line 47:
Line 41: − + − * [https://www.CoinBase.com CoinBase.com] - largest bitcoin exchange in the USA Line 56:
Line 49: − [[Category : Privacy]]
clean up
Seth Meyers noted on his ''Late Night'' program, "[[Wikipedia]] is now accepting donations using the online currency Bitcoin. So now you can support information you're not sure is true with currency you're not sure is money."<ref>http://www.thespec.com/living-story/4733681-tuesdayfile/ Retrieved August 8, 2014</ref>
Seth Meyers noted on his ''Late Night'' program, "[[Wikipedia]] is now accepting donations using the online currency Bitcoin. So now you can support information you're not sure is true with currency you're not sure is money."<ref>http://www.thespec.com/living-story/4733681-tuesdayfile/ Retrieved August 8, 2014</ref>
==Alternatives==
==Alternatives==
Although Bitcoin is the best know [[Cryptocurrency|Crypo-Currency]], there are other "alt-coins." These include:
Although Bitcoin is the best known [[Cryptocurrency]], there are others known as "alt-coins." These include:
* [[LiteCoin]]
* [[BitShares]]
* [[BlackCoin]] ([[Proof-of-Stake]])
* [[ByteCoin]]
* [[Counterparty]]
* [[DashCoin]]
* [[DogeCoin]]
* [[DogeCoin]]
* [[BlackCoin]] ([[Proof-of-Stake]])
* [[Ethereum]]
* [[GridCoin]]
* '''[[LiteCoin]]''' (generally considered the best alternative)
* [[Lumens]]
* [[MaidSafeCoin]]
* [[NameCoin]]
* [[NameCoin]]
* [[RippleCoin]]
* [[NXT]] ([[Proof-of-Stake]])
* [[DashCoin]]
* [[Peercoin]]
* [[ReddCoin]]
* [[ReddCoin]]
* [[BitShares]]
* [[Ripple (cryptocurrency)|Ripple]]
* [[StorjCoin X]]
* [[StorjCoin X]]
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{{reflist|2}}
{{reflist|2}}
==External Links==
==External links==
* [http://www.thesurvivalpodcast.com/we-now-accept-bitcoin-for-msb-access Bitcoin is hated for two major reasons…] by [[Jack Spirko]] of [[The Survival Podcast]], February 2, 2014.
* [http://www.thesurvivalpodcast.com/we-now-accept-bitcoin-for-msb-access Bitcoin is hated for two major reasons…] by [[Jack Spirko]] of [[The Survival Podcast]], February 2, 2014.
* [http://www.khanacademy.org/economics-finance-domain/core-finance/money-and-banking/bitcoin/v/bitcoin-what-is-it Khan Academy]
* [http://www.khanacademy.org/economics-finance-domain/core-finance/money-and-banking/bitcoin/v/bitcoin-what-is-it Khan Academy]
* [https://bitcoin.org Official Bitcoin Website]
* [https://bitcoin.org Official Bitcoin Website]
[[Category : Economics]]
[[Category : Economics]]
[[Category : Libertarianism]]
[[Category : Libertarianism]]