Monday, 7 September 2020

To ease some confusion

I’m a hodler, and I don’t bombard people with information but I read a fair bit and my friends ask me questions. Bitcoin is digital cash. Not to be confused with a debit card, bank account, but cash. If someone takes it, it’s gone, just like cash, if you don’t hide it, it can be stolen just like cash. When you spend it, you can’t reverse the transaction, it’s cash. Yes, visa may have fraud protection and in the future you may still have that service provided for you, but your bitcoin will be like your cash. If someone gives it to you, it isn’t fake it’s cash. The government can’t lock it up, unless you didn’t hide it. You get paid with it, it’s yours. Boom cash.

submitted by /u/Grown_wolf
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