ButtTrader.com is dedicated to helping create new markets for trading.
The Bitcoin Benefit
Our Bitcion mission is to increase the liquidity of Bitcoins by helping buyers and sellers locate each other.
Originally, fans of bitcoins were hoping to be able to easily buy and sell them using credit cards. The benefits of bitcoins proved to be the limitation here. The bottom line is that if someone who paid with a credit card initiates a chargeback, the seller is forced to take a loss without any means of obtaining the disbursed bitcoins or proving to the credit card company that they indeed distributed them. Unlike physical items mailed to recipients, there’s no shipment tracking.
Bitcoins are a bit like digital gold. They are valuable to whoever possesses them. Yet, they have a unique advantage over gold because they can be transmitted over the Internet to anywhere in the world without incurring shipping costs. At the end of the day, they are just ones and zeros — information in our computers.
Like The Ultimate Game Currency, Only Better
Because they are just information, they are a bit like MMOG game currency — valuable to those in the game, and trade-able; yet, just information. Advantages bitcoins have over game currencies include:
- No inflation devaluing the currency. Due to in-game inflation from a virtual money printer, game currencies tend to lose value over time. Bitcoins, on the other hand, tend to increase in value over time as they become more popular. Because of their inherit limited supply — there can never be more than 22 million in the world — and no central ability to print more beyond a very pre-defined limit, bitcoins are not subject to losing value because of a virtual printing press.
- No terms of service (TOS) to violate. MMOG game owners often put TOS restrictions designed to keep you from being able to trade your currencies outside of the games. Because bitcoins do not belong to a central organization, no one can restrict how you use them.
- No End-of-Life (EOL). When a company is no longer profiting from a game, it may terminate the servers, Because there are no central servers, bitcoins can potentially outlive our children’s children.
- Can trade for anything. Game currencies are primarily used to purchase in-game virtual objects and services. Bitcoins can be used to trade for anything people are willing to trade, including currencies, products and services.
If bitcoins are like gold, then the first obvious benefit is that they can be traded in-person. Because there are no credit cards involved, there are no chargebacks. Both parties can confirm the trade and complete it together.
For instance, someone wants to trade 3 bitcoins for a PS3 can post their interest to trade on ButtTrader.com indicating the city they live in. Someone with a PS3 responds. They agree on a time and place to meet. When they do, the buyer transmits the bitcoins. The seller confirms receiving them on their screen on their phone or computer. The buyer then takes the PS3 home.
If course, it doesn’t have to be a PS3. It can be anything of value, including cash, coins, collectables, or even, game currency! At the end of the day, bitcoins are just a transferable store of value, like gold, but using the internet to transfer from one person to another.
The Purpose of Butt Trader
Our purpose is to bring people together to trade — to help buyers find sellers. Our primary mission is to serve local markets, where trading can be achieved in-person, to help resolve trust issues as well as to support trading digital valuables for physical valuables.