Bitcoin is just like all other digital currencies; nothing new

Nearly all other digital currencies are centrally controlled. This means that:

  • They can be printed at the subjective whims of the controllers
  • They can be destroyed by attacking the central point of control
  • Arbitrary rules can be imposed upon their users by the controllers

Being decentralized, Bitcoin solves all of these problems.

Bitcoins don’t solve any problems that fiat currency and/or gold doesn’t solve

Unlike gold, bitcoins are:

  • Easy to transfer
  • Easy to secure
  • Easy to verify
  • Easy to granulate

Unlike fiat currencies, bitcoins are:

Unlike electronic fiat currency systems, bitcoins are:

  • Potentially anonymous
  • Freeze-proof
  • Faster to transfer
  • Cheaper to transfer