Template:MainPage Reasons - Revision history

Belcher: Reword to use "seed phrase" instead of privkey, as ordinary users shouldnt be touching privkeys

2022-01-24T15:04:54Z

Reword to use "seed phrase" instead of privkey, as ordinary users shouldnt be touching privkeys

← Older revision		Revision as of 15:04, 24 January 2022
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	** Have '''no storage costs'''. They take up no physical space regardless of amount.		** Have '''no storage costs'''. They take up no physical space regardless of amount.
	** Are '''easy to protect and hide'''. Can be stored on a phone, computer, encrypted on a [[Storing bitcoins\|paper backup]] or [[Brainwallet\|memorized in your head]].		** Are '''easy to protect and hide'''. Can be stored on a phone, computer, encrypted on a [[Storing bitcoins\|paper backup]] or [[Brainwallet\|memorized in your head]].
	** '''No counterparty risk'''. If you keep the [[~~private key~~]] of a bitcoin secret and the transaction has enough [[confirmation\|confirmations]], then nobody can take them from you no matter for what reason, no matter how good the excuse, no matter what.		** '''No counterparty risk'''. If you keep the [[seed phrase]] of a bitcoin wallet secret and the transaction has enough [[confirmation\|confirmations]], then nobody can take them from you no matter for what reason, no matter how good the excuse, no matter what.
	** Can be under '''divided possession''' with [[Multisignature]]. For example with a 2-of-3 multisig scheme there would be ''three'' private keys, of which ''any two'' is enough to spend the money. Those three keys can be spread anywhere, perhaps in multiple locations or known by multiple people. No other asset does this, for example you cannot hold gold coins under multisig.		** Can be under '''divided possession''' with [[Multisignature]]. For example with a 2-of-3 multisig scheme there would be ''three'' private keys, of which ''any two'' is enough to spend the money. Those three keys can be spread anywhere, perhaps in multiple locations or known by multiple people. No other asset does this, for example you cannot hold gold coins under multisig.

Belcher: Edit to add privacy, cheapness and multisig as a value-prop

2020-12-22T00:27:43Z

Edit to add privacy, cheapness and multisig as a value-prop

← Older revision		Revision as of 00:27, 22 December 2020
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	* Bitcoin [[Transactions]] are:		* Bitcoin [[Transactions]] are:
	** '''Permissionless''' and '''borderless'''. The software can be installed by anybody worldwide.		** '''Permissionless''' and '''borderless'''. The software can be installed by anybody worldwide.
	** '''Do not require any ID~~'''~~ to use~~. Making~~ it suitable for the unbanked, the privacy-conscious, computers or people in areas with underdeveloped financial infrastructure.		** '''Anonymous'''. Bitcoin does not require any ID to use making it suitable for the unbanked, the privacy-conscious, computers or people in areas with underdeveloped financial infrastructure.
	** ~~Are~~ '''~~censorship~~-resistant'''. Nobody is able to block or freeze a transaction of any amount.		** '''Private'''. When used with care bitcoin can support [[Privacy\|strong financial privacy]].
	** '''Irreversible''' once settled, like cash. (but consumer protection is still possible.)		** '''Censorship-resistant'''. Nobody is able to block or freeze a transaction of any amount.
	** '''Fast'''. Transactions are broadcasted in seconds and can become irreversible within an hour.		** '''Fast'''. Transactions can be made almost as fast as data can travel over the Internet.
			** '''Cheap'''. Fees can be [[Lightning Network\|very very low]].
			** [[Irreversible Transactions\|'''Irreversible''']] once settled, like cash. (but [[Myths#Bitcoin_has_no_built-in_chargeback_mechanism_and_this_is_bad\|consumer protection is still possible]].)
	** Online and available '''24 hours a day, 365 days per year'''.		** Online and available '''24 hours a day, 365 days per year'''.

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	** Cannot be printed or debased. '''Only [[Controlled supply\|21 million bitcoins]] will ever exist'''.		** Cannot be printed or debased. '''Only [[Controlled supply\|21 million bitcoins]] will ever exist'''.
	** Have '''no storage costs'''. They take up no physical space regardless of amount.		** Have '''no storage costs'''. They take up no physical space regardless of amount.
	** Are '''easy to protect and hide'''. Can be stored encrypted on a [[Storing bitcoins\|~~hard disk or~~ paper backup]].		** Are '''easy to protect and hide'''. Can be stored on a phone, computer, encrypted on a [[Storing bitcoins\|paper backup]] or [[Brainwallet\|memorized in your head]].
	** ~~Are in your~~ '''~~direct possession~~''' ~~with no counterparty risk~~. If you keep the [[private key]] of a bitcoin secret and the transaction has enough [[confirmation\|confirmations]], then nobody can take them from you no matter for what reason, no matter how good the excuse, no matter what.		** '''No counterparty risk'''. If you keep the [[private key]] of a bitcoin secret and the transaction has enough [[confirmation\|confirmations]], then nobody can take them from you no matter for what reason, no matter how good the excuse, no matter what.
			** Can be under '''divided possession''' with [[Multisignature]]. For example with a 2-of-3 multisig scheme there would be ''three'' private keys, of which ''any two'' is enough to spend the money. Those three keys can be spread anywhere, perhaps in multiple locations or known by multiple people. No other asset does this, for example you cannot hold gold coins under multisig.

Belcher: added comment about no counterparty risk

2017-11-20T10:01:56Z

added comment about no counterparty risk

← Older revision		Revision as of 10:01, 20 November 2017
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	** Cannot be printed or debased. '''Only [[Controlled supply\|21 million bitcoins]] will ever exist'''.		** Cannot be printed or debased. '''Only [[Controlled supply\|21 million bitcoins]] will ever exist'''.
	** Have '''no storage costs'''. They take up no physical space regardless of amount.		** Have '''no storage costs'''. They take up no physical space regardless of amount.
	** Are '''easy to hide'''. Can be stored encrypted on a [[Storing bitcoins\|hard disk or paper backup]].		** Are '''easy to protect and hide'''. Can be stored encrypted on a [[Storing bitcoins\|hard disk or paper backup]].
	** Are in your '''direct possession'''. If you keep the [[private key]] of a bitcoin secret and the transaction has enough [[confirmation\|confirmations]], then nobody can take them from you no matter for what reason, no matter how good the excuse, no matter what.		** Are in your '''direct possession''' with no counterparty risk. If you keep the [[private key]] of a bitcoin secret and the transaction has enough [[confirmation\|confirmations]], then nobody can take them from you no matter for what reason, no matter how good the excuse, no matter what.

Belcher: added sentence about removing trust using cryptography, decentralization and open source software

2017-11-20T09:59:19Z

added sentence about removing trust using cryptography, decentralization and open source software

← Older revision		Revision as of 09:59, 20 November 2017
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	Bitcoin is P2P electronic cash that is valuable over legacy systems because of the monetary autonomy it brings to its users. Bitcoin seeks to address the root problem with conventional currency: all the trust that's required to make it work -- Not that justified trust is a bad thing, but trust makes systems brittle, opaque, and costly to operate. Trust failures result in systemic collapses, trust curation creates inequality and monopoly lock-in, and naturally arising trust choke-points can be abused to deny access to due process.		Bitcoin is P2P electronic cash that is valuable over legacy systems because of the monetary autonomy it brings to its users. Bitcoin seeks to address the root problem with conventional currency: all the trust that's required to make it work -- Not that justified trust is a bad thing, but trust makes systems brittle, opaque, and costly to operate. Trust failures result in systemic collapses, trust curation creates inequality and monopoly lock-in, and naturally arising trust choke-points can be abused to deny access to due process. Through the use of cryptographic proof, decentralized networks and open source software Bitcoin minimizes and replaces these trust costs.

	* Bitcoin [[Transactions]] are:		* Bitcoin [[Transactions]] are:

Belcher: added bolding for emphasis, and rewording to shorten line

2017-11-14T20:25:05Z

added bolding for emphasis, and rewording to shorten line

Belcher: shortened further to stop the lines wrapping

2017-11-14T18:45:23Z

shortened further to stop the lines wrapping

← Older revision		Revision as of 18:45, 14 November 2017
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	Bitcoin is P2P electronic cash that is valuable over legacy systems because of the monetary autonomy it brings to its users. Bitcoin seeks to address the root problem with conventional currency: all the trust that's required to make it work -- Not that justified trust is a bad thing, but trust makes systems brittle, opaque, and costly to operate. Trust failures result in systemic collapses, trust curation creates inequality and monopoly lock-in, and naturally arising trust choke-points can be abused to deny access to due process.		Bitcoin is P2P electronic cash that is valuable over legacy systems because of the monetary autonomy it brings to its users. Bitcoin seeks to address the root problem with conventional currency: all the trust that's required to make it work -- Not that justified trust is a bad thing, but trust makes systems brittle, opaque, and costly to operate. Trust failures result in systemic collapses, trust curation creates inequality and monopoly lock-in, and naturally arising trust choke-points can be abused to deny access to due process.

	~~Bitcoins have all the desirable properties of a money-like good. They are portable, durable, divisible, recognizable, fungible, scarce and hard to counterfeit.~~

	* Bitcoin [[Transactions]] are:		* Bitcoin [[Transactions]] are:
	** Permissionless and borderless. The software can be installed by anybody worldwide.		** Permissionless and borderless. The software can be installed by anybody worldwide.
			** Do not require any ID to use. Making it suitable for the unbanked, the privacy-conscious, computers or people in areas with underdeveloped financial infrastructure.
			** Are censorship-resistant. Nobody is able to block or freeze a transaction of any amount.
			** Irreversible once settled, like cash. (but consumer protection is still possible.)
	** Fast. Transactions are broadcasted in seconds and can become irreversible within an hour.		** Fast. Transactions are broadcasted in seconds and can become irreversible within an hour.
	** Are censorship-resistant. Nobody is able to block or freeze a transaction of any amount.
	** Irreversible. Cannot be undone once settled, like cash. (but consumer protection is still possible.)
	** Do not require any ID to use. Making it suitable for the unbanked, the privacy-conscious, computers or people in areas with underdeveloped financial infrastructure.
	** Online and available 24 hours a day, 365 days per year.		** Online and available 24 hours a day, 365 days per year.

	~~Many people use bitcoin~~ as a [[Bitcoin as an investment\|store of value]], they have been described as "swiss bank account in your pocket".		Bitcoins can be used as a [[Bitcoin as an investment\|store of value]], they have been described as "swiss bank account in your pocket".
	* Stored Bitcoins:		* Stored Bitcoins:
	** Cannot be printed or debased. Only [[Controlled supply\|21 million bitcoins]] will ever exist.		** Cannot be printed or debased. Only [[Controlled supply\|21 million bitcoins]] will ever exist.

Belcher: slight reword

2017-11-14T14:47:21Z

slight reword

← Older revision		Revision as of 14:47, 14 November 2017
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	* Stored Bitcoins:		* Stored Bitcoins:
	** Cannot be printed or debased. Only [[Controlled supply\|21 million bitcoins]] will ever exist.		** Cannot be printed or debased. Only [[Controlled supply\|21 million bitcoins]] will ever exist.
	** Have no storage costs. They take up no physical space.		** Have no storage costs. They take up no physical space regardless of amount.
	** Are easy to hide. ~~Any amount can~~ be stored on a [[Storing bitcoins\|hard disk or paper backup]].		** Are easy to hide. Can be stored encrypted on a [[Storing bitcoins\|hard disk or paper backup]].
	** Are in your direct possession. If you keep the [[private key]] of a bitcoin secret and the transaction has enough [[confirmation\|confirmations]], then nobody can take them from you no matter for what reason, no matter how good the excuse, no matter what.		** Are in your direct possession. If you keep the [[private key]] of a bitcoin secret and the transaction has enough [[confirmation\|confirmations]], then nobody can take them from you no matter for what reason, no matter how good the excuse, no matter what.

Belcher: cut down sentences so it looks nicer on the main page

2017-11-14T14:38:19Z

cut down sentences so it looks nicer on the main page

← Older revision		Revision as of 14:38, 14 November 2017
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	Bitcoin is P2P electronic cash that is valuable over legacy systems because of the monetary autonomy it brings to its users. Bitcoin seeks to address the root problem with conventional currency: all the trust that's required to make it work -- Not that justified trust is a bad thing, but trust makes systems brittle, opaque, and costly to operate. Trust failures result in systemic collapses, trust curation creates inequality and monopoly lock-in, and naturally arising trust choke-points can be abused to deny access to due process.		Bitcoin is P2P electronic cash that is valuable over legacy systems because of the monetary autonomy it brings to its users. Bitcoin seeks to address the root problem with conventional currency: all the trust that's required to make it work -- Not that justified trust is a bad thing, but trust makes systems brittle, opaque, and costly to operate. Trust failures result in systemic collapses, trust curation creates inequality and monopoly lock-in, and naturally arising trust choke-points can be abused to deny access to due process.

	Bitcoins have all the desirable properties of a money-like good. They are portable, durable, divisible, recognizable, fungible, scarce, hard to counterfeit.		Bitcoins have all the desirable properties of a money-like good. They are portable, durable, divisible, recognizable, fungible, scarce and hard to counterfeit.

	~~Bitcoins are sent easily through the Internet, without needing to trust any third party.~~		* Bitcoin [[Transactions]] are:
	* [[Transactions]]:		** Permissionless and borderless. The software can be installed by anybody worldwide.
	** ~~Are permissionless~~ and borderless. The software can be installed by anybody ~~without any arbitrary gatekeepers~~.		** Fast. Transactions are broadcasted in seconds and can become irreversible within an hour.
	** ~~Are fast~~. Transactions are ~~broadcast through the peer-to-peer network~~ in seconds and can become irreversible within an hour.		** Are censorship-resistant. Nobody is able to block or freeze a transaction of any amount.
	** Are censorship-resistant. Nobody is able to block~~, intercept~~ or freeze a transaction of any amount.		** Irreversible. Cannot be undone once settled, like cash. (but consumer protection is still possible.)
	** Do not require any ID to use. Making it suitable for the unbanked, privacy-conscious ~~people~~, computers or people in areas with underdeveloped financial infrastructure.		** Do not require any ID to use. Making it suitable for the unbanked, the privacy-conscious, computers or people in areas with underdeveloped financial infrastructure.
	** ~~Are irreversible. Once a transaction is settled nobody can undo it, like cash. (but consumer protection is still possible.)~~		** Online and available 24 hours a day, 365 days per year.
	** Works 24 hours a day, 365 days per year.

	Many people use bitcoin as a [[Bitcoin as an investment\|store of value]], they have been described as "swiss bank account in your pocket".		Many people use bitcoin as a [[Bitcoin as an investment\|store of value]], they have been described as "swiss bank account in your pocket".
	* ~~[[Storing bitcoins\|~~Stored Bitcoins]]:		* Stored Bitcoins:
	** Cannot be printed or debased. Only [[Controlled supply\|21 million bitcoins]] will ever exist.		** Cannot be printed or debased. Only [[Controlled supply\|21 million bitcoins]] will ever exist.
	** Have no storage costs. They take up no physical space.		** Have no storage costs. They take up no physical space.
	** Are easy to hide. Any amount can be stored on a hard disk, paper backup~~, or even memorized in your brain~~.		** Are easy to hide. Any amount can be stored on a [[Storing bitcoins\|hard disk or paper backup]].
	** Are in your direct possession. If you keep the [[private key]] of a bitcoin secret and the transaction has enough [[confirmation\|confirmations]], then nobody can take them from you no matter for what reason, no matter how good the excuse, no matter what.		** Are in your direct possession. If you keep the [[private key]] of a bitcoin secret and the transaction has enough [[confirmation\|confirmations]], then nobody can take them from you no matter for what reason, no matter how good the excuse, no matter what.

Belcher: removed this thing about noinclude p-mode, not 100% sure what it does but we'll see now

2017-11-13T22:57:53Z

removed this thing about noinclude p-mode, not 100% sure what it does but we'll see now

← Older revision		Revision as of 22:57, 13 November 2017
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	** Have no storage costs. They take up no physical space.		** Have no storage costs. They take up no physical space.
	** Are easy to hide. Any amount can be stored on a hard disk, paper backup, or even memorized in your brain.		** Are easy to hide. Any amount can be stored on a hard disk, paper backup, or even memorized in your brain.
	** Are in your direct possession. If you keep the [[private key]] of a bitcoin secret and the transaction has enough [[confirmation\|confirmations]], then nobody can take them from you no matter for what reason, no matter how good the excuse, no matter what.		** Are in your direct possession. If you keep the [[private key]] of a bitcoin secret and the transaction has enough [[confirmation\|confirmations]], then nobody can take them from you no matter for what reason, no matter how good the excuse, no matter what.

	~~<noinclude>{{p-move}}</noinclude>~~

Belcher: edited to remove misdirection about low cost, added more detail about low-trust principles

2017-11-13T22:54:25Z

edited to remove misdirection about low cost, added more detail about low-trust principles

← Older revision		Revision as of 22:54, 13 November 2017
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	* Bitcoins are sent easily through the Internet, without needing to trust any third party.		Bitcoin is P2P electronic cash that is valuable over legacy systems because of the monetary autonomy it brings to its users. Bitcoin seeks to address the root problem with conventional currency: all the trust that's required to make it work -- Not that justified trust is a bad thing, but trust makes systems brittle, opaque, and costly to operate. Trust failures result in systemic collapses, trust curation creates inequality and monopoly lock-in, and naturally arising trust choke-points can be abused to deny access to due process.

			Bitcoins have all the desirable properties of a money-like good. They are portable, durable, divisible, recognizable, fungible, scarce, hard to counterfeit.

			Bitcoins are sent easily through the Internet, without needing to trust any third party.
	* [[Transactions]]:		* [[Transactions]]:
	** Are ~~irreversible~~ by ~~design~~		** Are permissionless and borderless. The software can be installed by anybody without any arbitrary gatekeepers.
	** Are fast. ~~Funds received~~ are ~~available for spending~~ within ~~minutes~~.		** Are fast. Transactions are broadcast through the peer-to-peer network in seconds and can become irreversible within an hour.
	** ~~Cost very little~~, ~~especially compared~~ to ~~other payment networks~~.		** Are censorship-resistant. Nobody is able to block, intercept or freeze a transaction of any amount.
	* ~~The~~ supply of bitcoins ~~is regulated by software and the agreement of users of the system and cannot~~ be ~~manipulated by any government~~, ~~bank~~, ~~organization~~ or ~~individual~~. ~~The limited inflation~~ of the ~~Bitcoin system's money supply is distributed evenly (by CPU power) to miners who help secure~~ the ~~network~~.		** Do not require any ID to use. Making it suitable for the unbanked, privacy-conscious people, computers or people in areas with underdeveloped financial infrastructure.
			** Are irreversible. Once a transaction is settled nobody can undo it, like cash. (but consumer protection is still possible.)
			** Works 24 hours a day, 365 days per year.

			Many people use bitcoin as a [[Bitcoin as an investment\|store of value]], they have been described as "swiss bank account in your pocket".
			* [[Storing bitcoins\|Stored Bitcoins]]:
			** Cannot be printed or debased. Only [[Controlled supply\|21 million bitcoins]] will ever exist.
			** Have no storage costs. They take up no physical space.
			** Are easy to hide. Any amount can be stored on a hard disk, paper backup, or even memorized in your brain.
			** Are in your direct possession. If you keep the [[private key]] of a bitcoin secret and the transaction has enough [[confirmation\|confirmations]], then nobody can take them from you no matter for what reason, no matter how good the excuse, no matter what.

	<noinclude>{{p-move}}</noinclude>		<noinclude>{{p-move}}</noinclude>

← Older revision		Revision as of 20:25, 14 November 2017
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	* Bitcoin [[Transactions]] are:		* Bitcoin [[Transactions]] are:
	** Permissionless and borderless. The software can be installed by anybody worldwide.		** '''Permissionless''' and '''borderless'''. The software can be installed by anybody worldwide.
	** Do not require any ID to use. Making it suitable for the unbanked, the privacy-conscious, computers or people in areas with underdeveloped financial infrastructure.		** '''Do not require any ID''' to use. Making it suitable for the unbanked, the privacy-conscious, computers or people in areas with underdeveloped financial infrastructure.
	** Are censorship-resistant. Nobody is able to block or freeze a transaction of any amount.		** Are '''censorship-resistant'''. Nobody is able to block or freeze a transaction of any amount.
	** Irreversible once settled, like cash. (but consumer protection is still possible.)		** '''Irreversible''' once settled, like cash. (but consumer protection is still possible.)
	** Fast. Transactions are broadcasted in seconds and can become irreversible within an hour.		** '''Fast'''. Transactions are broadcasted in seconds and can become irreversible within an hour.
	** Online and available 24 hours a day, 365 days per year.		** Online and available '''24 hours a day, 365 days per year'''.

	~~Bitcoins~~ can be ~~used as~~ a [[Bitcoin as an investment\|store of value]], ~~they~~ have ~~been described as~~ "swiss bank account in your pocket".		Bitcoin can also be a [[Bitcoin as an investment\|store of value]], some have said it is a "swiss bank account in your pocket".
	* Stored Bitcoins:		* Stored Bitcoins:
	** Cannot be printed or debased. Only [[Controlled supply\|21 million bitcoins]] will ever exist.		** Cannot be printed or debased. '''Only [[Controlled supply\|21 million bitcoins]] will ever exist'''.
	** Have no storage costs. They take up no physical space regardless of amount.		** Have '''no storage costs'''. They take up no physical space regardless of amount.
	** Are easy to hide. Can be stored encrypted on a [[Storing bitcoins\|hard disk or paper backup]].		** Are '''easy to hide'''. Can be stored encrypted on a [[Storing bitcoins\|hard disk or paper backup]].
	** Are in your direct possession. If you keep the [[private key]] of a bitcoin secret and the transaction has enough [[confirmation\|confirmations]], then nobody can take them from you no matter for what reason, no matter how good the excuse, no matter what.		** Are in your '''direct possession'''. If you keep the [[private key]] of a bitcoin secret and the transaction has enough [[confirmation\|confirmations]], then nobody can take them from you no matter for what reason, no matter how good the excuse, no matter what.