I have come back around to the idea of Bitcoin, a few dollar's worth of which I need for a special payment. What a pain in the ass!
I am setting up an account with Coinbase. I thought the whole idea of BTC and other cryptocurrency was confidentiality and privacy. WRONG!
To set up the account, I had to give them my real name and address.
Then, to fund the account, I had to give them my bank account info, including acct number. That allowed me to transfer $50 from my bank to my BTC account, less a couple of percent processing fee.
OK, but I can't sent BTC to others, making the acct worthless. To send BTC, I have to upload photos of my driver's license.
Doing this qualifies me to send 69 cents of the $50 I deposited. TO send more, I have to wait... a week, maybe??? For what? Until Jupiter is aligned with Mars?
WTF? Where is the anonymity? Where is the convenience? I could have gone into a grocery store here and bought a $25 "gift card" for cash, no ID required, in about 5 minutes.
I am really disillusioned about the whole BTC thing. It is all bullshit, so far.
Maybe I'm missing something. If so, feel free to enlighten me...
*Frustrated in Georgia*
