I have been getting a lot of questions from friends and associates about Bitcoin. They know I am involved with bitcoin and are curious to know what it is all about and what I have been doing with it. I had an idea to make a video so I don't have to keep explaining it. I have found that when you explain things like bitcoin to people it is really hard for them to "get it". The really need to be shown what is possible.
Anyway here is a draft of the outline I plan on using for the video. I thought I would post it ahead of making the video in case anyone has any feedback I can use for my video. I will be sure to post it here to steem when I am done. You will be free to share it as you like. Sharing is caring. I will make it as generic as possible no promotions or referrals links.
Bitcoin Benefits
- Financial freedom
- Not regulated Can do what you want when you want with your money
- Can have access to high return opportunities that are usually only reserved for qualified investors
- Not taxable**
- More and more companies are accepting bitcoin as payment
- Free money with faucet sites
- Some options for passive income:
Mining/staking coins
Bitcoin lending
Referral programs
blogging. (steem) - Gambling and games
- Total transparency
- Completely anonymous
- Still in infancy and low adoption. Which means huge potential for growth in value
Negatives
- Not regulated. No one to stop you form doing something stupid with your money.
- Speculative
- Value of bitcoin is highly volatile.
- A little bit of a learning curve and a mental shift requred
- You have to pay a premium to buy bitcoin depending upon the method you use.
- Currently it can take some time to transfer coins.
**Capital gains are taxable when you convert back to fiat. Consult a qualified tax adviser for accurate information regarding this.