Frequently Asked Questions
1. Why are you giving away bitcoin?
Let me start with a small story. We had airbnb guests staying with us from Czech Republic. They wanted to do the Freediving course, but paying for the class was very complicated and had unnecessary fees.
They could
Bitcoin can make money move more smoothly and cheaply on the Island of Utila, Considering that people are coming from all different countries with different currencies, people need an efficient way to transact.
2. How do I get a wallet?
There are many but I find the bitcoin.com wallet is the most user friendly.
3. I heard about Bitcoin Mining/Cryptocurrency/. What’s that?
Introduction to bitcoin.
Mining
Crypto Currency
Who is Satoshi Nakamoto
4. What can I buy with bitcoin?
Pay for your Scuba class. There are close to 0% transaction fees, regardless of which country you send from. If your diving school doesn’t accept bitcoin already, just ask them. It is easy and free to sign up here.
You can also buy a Tesla, Pizza, hotels, things on Amazon and many other things with bitcoin. See here. You can take out loans with Bitcoin and many other things.
5. How do I exchange bitcoin for Lempiras/Quetzales/Pesos?
Send me a message and maybe I have bitcoin to sell or check Local Bitcoins.
6. How do I exchange USD/EUR/GBP for bitcoin?
Try Coinbase.com or bitcoin.com.
7. Why would I want to store money in bitcoin? Isn’t it volatile?
Yes. I got my first bitcoin when someone sent me a small amount in 2015 for a Pad Thai. Today it is worth much more. But that’s not the interesting thing. In 2009, the global financial system almost collapsed. God forbid it ever does, but just in case I put money in bitcoin to have a backup plan.
8. What’s the difference between BCH and BTC bitcoin?
BTC and BCH are two versions of bitcoin, similar to how Catholocism and Protestant are different versions of Christianity. Personally, I believe that BCH (also known as Bitcoin Cash) is the better version and will have the most longterm success. Both BTC and BCH go back to the original transaction, but only BCH maintains the original vision Satoshi Nakamoto had for a Digital Cash.
Money, like lots of human creations is based on Belief. Some people believe in the US Dollar. Others believe in Euros or Gold or put their wealth in Real Estate. Bitcoin is the same. Some people believe that BCH is the real bitcoin and some believe BTC is. In the end, what works best for you? Right now I'm offering to gift you Bitcoin Cash. As the saying goes, don't look a gift horse in the mouth. ;-)
Let me start with a small story. We had airbnb guests staying with us from Czech Republic. They wanted to do the Freediving course, but paying for the class was very complicated and had unnecessary fees.
They could
- pay with credit card and get charged 8%
- withdraw cash from the ATM which would cost them 1% ATM fee, plus exchange fee from Czech Korunas into USD then USD into Honduran Lempiras
- set up a PayPal account, send money from Korunas to USD, send USD via PayPal to the UPCO electric company who would give them Lempiras at only 23 Lemps to the dollar.
Bitcoin can make money move more smoothly and cheaply on the Island of Utila, Considering that people are coming from all different countries with different currencies, people need an efficient way to transact.
2. How do I get a wallet?
There are many but I find the bitcoin.com wallet is the most user friendly.
3. I heard about Bitcoin Mining/Cryptocurrency/. What’s that?
Introduction to bitcoin.
Mining
Crypto Currency
Who is Satoshi Nakamoto
4. What can I buy with bitcoin?
Pay for your Scuba class. There are close to 0% transaction fees, regardless of which country you send from. If your diving school doesn’t accept bitcoin already, just ask them. It is easy and free to sign up here.
You can also buy a Tesla, Pizza, hotels, things on Amazon and many other things with bitcoin. See here. You can take out loans with Bitcoin and many other things.
5. How do I exchange bitcoin for Lempiras/Quetzales/Pesos?
Send me a message and maybe I have bitcoin to sell or check Local Bitcoins.
6. How do I exchange USD/EUR/GBP for bitcoin?
Try Coinbase.com or bitcoin.com.
7. Why would I want to store money in bitcoin? Isn’t it volatile?
Yes. I got my first bitcoin when someone sent me a small amount in 2015 for a Pad Thai. Today it is worth much more. But that’s not the interesting thing. In 2009, the global financial system almost collapsed. God forbid it ever does, but just in case I put money in bitcoin to have a backup plan.
8. What’s the difference between BCH and BTC bitcoin?
BTC and BCH are two versions of bitcoin, similar to how Catholocism and Protestant are different versions of Christianity. Personally, I believe that BCH (also known as Bitcoin Cash) is the better version and will have the most longterm success. Both BTC and BCH go back to the original transaction, but only BCH maintains the original vision Satoshi Nakamoto had for a Digital Cash.
Money, like lots of human creations is based on Belief. Some people believe in the US Dollar. Others believe in Euros or Gold or put their wealth in Real Estate. Bitcoin is the same. Some people believe that BCH is the real bitcoin and some believe BTC is. In the end, what works best for you? Right now I'm offering to gift you Bitcoin Cash. As the saying goes, don't look a gift horse in the mouth. ;-)