Comparing Bitcoin to Paypal
There are some interesting changes in finance, payments, merchants, exchanges, bartering, etc.
It seems like the world is changing in the area of finance. To me I see this as a hotter than fire issue and it is often the case a friend or fellow activist that is getting heat about what they do. Whether it be campaign funding reporting requirements, or IRS threats on MMJ providers. Being a patient that has been treated for headaches(cluster and migraine) pretty much my whole life by physicians I pay attention to issues like Harborside in Oakland or the attack on Paul Stanford’s finances for back taxes, etc. In Spokane 2011 people were seeing their bank accounts getting seized.
CaNORML and other medical providers saw problems with retaining a paypal account for collecting donations.
Paypal is particularly tricky. There are a lot of things a person can not do using paypal. Raffles and ganja are not particularly compatible with paypal. A guy I know that makes wooden things had a problem with paypal when he was serving a raffle and collecting donations via paypal. Paypal froze his account, though he blamed me.
I had a real positive experience with Paypal during the experience in this video and others also, see my experience with paypal here: https://www.facebook.com/photo.php?v=10151011112916789&set=vb.790371788&type=3&theater
But other people have had negative experiences with paypal.
But this is why I promote and why I LOVE the free market. This is why I promote capitalism! CHOICES!!!!
I’ve been inspired by bitcoin. I’ve had “cannagrams” or points on xcannabis for years on this blog. When people post, they get points. I currently have 45250 grams on my account. That could buy me 15 pair of hemp pants in our store.
Points are a good way for me to promote activity on our website using (CubePoints for Wordpess). But they don’t do anyone any good unless you can spend them on something. See this: http://xcannabis.com/store/
We decided to reward our guests rather than paying a bunch of money to advertise on someone else’s website.
We have a lot of hemp gifts, and virtual gifts too.
On the other hand, in the cannabis community people are hesitant to share their information, for many reasons. Though I feel comfortable sending the packages because there is nothing illegal going on. We benefit you benefit. But the receiver doesn’t know me from Adam or Joe or Sammy. So people can choose either something tangible sent to them free of charge (except via cannagrams), or they can choose something that can be exchanged for tangible value which is bitcoin, and can be received fairly anonymously via an online proxy connection.
So with that in mind it became clear to xCannabis.com that we needed to provide an anonymous gift giving system where participants can buy bitcoin, and have it sent to an online anonymous wallet location.
That way if you like to participate in drawings, but have too much to lose by revealing your identity, I recommend setting up your wallet with the tor project, and I recommend that you study it before you use it. Because I have only used it a handful of times myself. But you can direct your bitcoin wallet client to go through the tor project proxy service (for free), and anonymize your location completely. You can use this same method via your browser and many of your other programs.
Paypal is not this privacy friendly. Even dollar bills have similar vulnerabilities to bitcoin, however bitcoin can be transferred quickly over great distances but dollars can not do that so easily and quickly.
Similarly to dollars though, physical bitcoin are exchanged in check format. Its a really cool concept.
Similarly to dollars if the physical bitcoin gets destroyed the coin goes with it.
You can make physical bitcoin yourself, or you can buy them from others: https://www.casascius.com/
MtGox.com has more information on the keys you need to make phyiscal bitcoin.
Paypal has a debit card, so it does come in an on demand physical presence. But the anonymity of that is zero.
What it breaks down to is that bitcoin is difficult to make, carries market value, and is presently traded in almost every country around the world. See www.bitmit.net for a ebay like marketplace that works exclusively off bitcoin.
It works both instore and online. One bitcoin is presently worth over $10.50 USD and it goes up and down.
The pros about paypal. Not the anonymity level, but I do enjoy their ease of use, their wide customer base, their buyer and their seller protection services. I have had both positive and negative experiences dealing with paypal.
I have passively followed The Keiser Report for years. But it was so refreshing hearing him talk about Bitcoin in this speech @ Bitcoin 2012 London.
It’s easy to see why so many in finance find this system amazing.
Please read this article to learn more about the levels of anonymity. Bitcoin has it’s limits.
To learn more about Tor and it’s relationship to bitcoin, check here.
To learn more just about bitcoin go to http://bitcoin.org
See our store here http://xcannabis.com/store/
To celebrate LIFE before the elections, I have decided to make comments on this post worth 40 cannagrams/points (4x as much).
We are trying to determine the winner of the last contest, because the server was being worked on at the time of the drawing. So until we figure that out you can participate in our latest contest. 1000 grams/points for the winner of the drawing.
P.S. Mind your own laws and legal status as to what you do or do not do. This is provided for informational purposes and we do not represent any licensed or accredit financial or legal council, the opinions expressed here are opinions only. We are only responsible for our own opinions and actions.
In other news. The server is upgraded and running much more smoothly. We are still transferring the network of websites over, but so far xCannabis and several other websites are performing well.
The server hosts the same amount of data as before, but it now 8 times as capable as the previous hosting setup. Load times should be significantly better!
As for the elections, I won’t be voting. I moved and didn’t update my voter information.
If I was going to vote I would be sending in a protest vote for Ron Paul, because that is the person that I believe in for president of the USA. I think Ron Paul could fix this nation or steer it in the right direction anyway. Romney and Obama are the same. There are many candidates that I liked both locally and nationally. But I probably can’t vote anyway. I may try. However, I have urged my friends who live in a state where Ron Paul isn’t a write in candidate to think about supporting Gary Johnson!