BeefiestExpertSomeone want to explain bitcoin and why people use it?
A digital currency amoung thousands that one can trade, buy, sell and invest in. Ripple, Ethereum, Nxt, Neo, xtrabytes are just a few of the crypto that have unique features and will probably skyrocket in the future. I made 2500 off of neo in 4 months after buying 50+ for less than a dollar.
Like fiat, cryptocurrency can be used for trafficking, drugs, etc., but that's not what it was intended for. It is dectralized in a blockchain web with no central authority. Hence, why banks can't control it but want to due to it's ever increasing popularity. It is volitle but we are also in the inital stages of something in the future that may be our primary currency. We just need merchants to accept bitcoin. Good luck paying taxes on bitcoins capital gain. You'd spend more time calculating everything than taking prison tine for refusing to pay tax on bitcoin.