The Better Money Blog

Thumbnail image for 'Do I need a bitcoin wallet to buy bitcoins?'

Bitcoin has been around for over a decade now and it has stood up to every technological test thrown at it. Buying bitcoin and investing, or better saving in Bitcoin is likely a smart approach moving forward as fiat money depreciates. The quick answer to the question is yes, to store bitcoin yourself, you need a wallet. That’s because of the way the bitcoin network works. Bitcoin stored on exchanges is also stored on wallets, which are controlled by the exchange, not you. Everybody storing bitcoin is using a wallet to do so. Let’s dig into this in detail:

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Thumbnail image for 'How do cryptocurrencies gain more value?'

Cryptocurrency is quite a buzzword these days and many people wonder, how cryptocurrencies gain more value. We answer this question here in a roundabout way and explain, why the term cryptocurrency is a distraction and why focussing on bitcoin is the only thing that truly matters.

Bitcoin was the first crypto currency: Launched in early 2009, it has gained a tremendous following since then and many of bitcoin’s aspects have been copied by other cryptocurrencies.

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Thumbnail image for 'Why bitcoin is better money than Gold'

There are two kind of hard money advocates in the world. There are gold bugs and there are bitcoiners. Gold bugs like the shiny rock and think that gold should be the base money for a financial system. Bitcoiners agree with the core assumption of gold bugs: Hard money is better money. The two groups diverge when it comes to picking which hard money is the better option. Gold bugs chose gold. Bitcoiners chose bitcoin. This blog post unpacks the comparison between the two and explains, why I have chosen bitcoin over gold as my hard money.

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Thumbnail image for 'Will governments ban bitcoin?'

One of the most common questions I get from people who have heard about and are considering buying bitcoin, but have not yet, is this one: Why wouldn’t governments just outlaw and ban bitcoin? This blog post explores this idea, by shedding some light on the game theory behind bitcoin adoption. It discusses, why bitcoin can not be banned outright because of the nature of decentralized computer networks, and why bitcoin friendly jurisdictions will emerge as they already have in the past. Moreover, we explore that bitcoin is on a fundamental level nothing more than numbers and speech and as such protected by law in much of the western world.

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