What are some benefits of bitcoin?
- Nearly instant transfers worldwide
- Free or very low cost transfers worldwide
- As of December 2013, bitcoin is accepted at over 15,000 businesses (see https://bitpay.com).
- Ability to protect yourself from government seizures of your money as happened in Europe in the Spring of 2013. (Cyprus bank bail-in.)
- When the authorities in your country are trying to steal from the citizens, a safe-haven like bitcoin can provide a method of protecting yourself and your family. (This gentleman in Europe had about 700,000 Euros – $989,000 – taken from his bank account by the government there, see https://bitcointalk.org/index.php?topic=160292.0 ).
Some further benefits:
- Open Source software – you are not at the mercy of anyone, the software is described and everyone can see it, making it more reliable and trustworthy.
- Peer-to-peer – Bitcoin is not under the control of banks, governments or anyone else in the world.
- Bitcoin alone does not provide anonymity, but can be used to provide privacy.