Why is it like this…. because their name is on the dollars. It is the property of the federal reserve bank. So the money goes into their bank, they own it, they allow you to control it, but you don’t have it in your hands so you have to ask permission to move it from their bank. In this scenario they told me no. So I had to stay in an airbnb until I was able to figure something else out. I used moneygram to finally get the $. They charged $15.00 which isn’t bad, but sending with bitcoin would’ve been cheaper than that plus I wouldn’t have had to ask permission or use a third party bank/service.
With bitcoin you can hold it and send it anytime without asking permission. It is cheaper than any other “service, money transfer agency, or bank.”
It could be Sunday night at 8pm when every way to transfer would be closed, you can take out your phone, open your bitcoin wallet and transfer as much or as little as you want. It can be there in seconds if you use “bitcoin lightning” or less than 10 minutes if you use “bitcoin.”
It has many many more properties, but you understand where I am trying to go.
As for bitcoin vs crypto. They say “there is bitcoin then there is everything else.”
In my analysis, people saw bitcoin as being the new “digital standard of money” and decided to make their own form of digital money which we call them “crypto.”
Crypto-graphy is basically a message that is hidden until it reaches the person or computer it is supposed to be delivered to. In this scenario money is safe until it gets where it needs to be and no-one can intercept it.
What happens when people see the new thing on the block? They want to copy it. They say that they want to make it better. In this case, they say “bitcoin is too slow our crypto will be faster.” Bitcoin doesn’t have this doesn’t have that and so they modify it and call it their name for it. That is admirable, but bitcoin can do everything that the other crypto can do and do it better. It acheives this because it has the best developers in the world (literally the world working on it for FREE.) That is why it has survived this long and demolished their usd to coin price. The people creating “crypto” copied the properties that bitcoin has and slapped their name on it. It’s just like a knock off Rolex. When you know the quality of a Rolex there is no way you would want the Folex. That’s just dumb.
Who buys or creates a Folex? Those that can’t afford a Rolex.
They already don’t have the funds to obtain the quality that bitcoin has so they want to make something cheaper and faster….this enables them to be able to manipulate others into donating to their project. Once people put money into their “crypto-coin” the creators sell all of the coins they own. When others see that major amounts of the coins are selling rapidly, the value drops and your money is gone because they sold you a Folex then disappeared with your money.
Bitcoin can never do this. Why you might ask? Bitcoin doesn’t have a CEO. It has a creator named (Satoshi Nakamoto.) Satoshi gave this project to a group of developers to keep it up to date, fair, free and open source. What does all this mean? There is no head of state, government, bank, CEO, CFO, secretary, treasurer…. There is no person nor corporation to tax, diret, command, coerce, There is no one person resposible for everything. It is empowering for the people. Not the handlers of everything else that is considered money.