Topic: advantages of bitcoin - page 3. (Read 14754 times)

Paper money is really bad, the value is decrease. I agree that we dont need bank anymore, if we transfer money by bank the fee is higher than transfer bitcoin. Also bank transfer is need long time and not practicaly.

   I need to have bank account cause my company send my paycheck there, they will not give me any money if I dont have account in specific bank. Like choppork said I'm forced to have bank account, and one day when I sell bitcoins I have I'll use that account. Not just me, all people are forced, they are earning on us and that is how they control us. With bitcoins is different, its matter of free choice.

First of all, we do need to have a bank account. Maybe right now, you don't need one because you can always sell your coins to someone personally and get the cash handed to you, but eventually you're going to be tired of doing that and choose to get a bank account. Exchange websites require you to have a bank account to get your bitcoins converted into fiat. Actually, even if you don't open a bank account for bitcoins right now, once you get a day job, you'll be forced to open one. That's just how the world works, we're basically forced to open a bank account to avail services and to get paid for our job.

I think for the moment we still need fiat, because bitcoin not be relied upon to perform transactions offline, for security issues I admit bitcoin have good security for your money and your identity

1. You can transfer funds around the globe at lowest fees. Much lower than Western Union, etc.
2. Minimal formalities, can use in your business without anyone's permission.
3. Rates are determined by forces of market-supply. No government can control prices of Bitcoin, unlike forex, etc. Thus, Bitcoin is completely decentralised.
And many more....

Without the trust middleman, can conveniently carry on the remittance on the internet.  Third parties cannot control or block your transaction.Trading is almost free

First of all we do not need have bank account. Not all people are owning bank account, aren't they? Especialy student and people of remote village. Bitcoin transfer is better than bank, so there is no different bank transfer money that not practicaly, really costly and need a long time to complete it. Also no maximum or minimum transfer amount. I think still the most important thing of bitcoin is the lower fee than bank.

That's right, In fact bitcoin is already a totally package to anyone. Imagine by doing this things you can have a job instantly, also while asking everybody here in the forum you will learn too how to save money through bitcoin trading, signature campaign, or doing faucets to get free satoshi.

Bitcoin really helps people who is have a problem on financial status. But in earning bitcoin you should know the way on earning od bitcoin. If you are a newbie o using bitcoin dont expect that you will earn too big on just few hours. Some newbie bitcoiners are fan on investing on hYips cloudmining mlm etc. Because other want easy money.When they were scammed they will blaim bitcoin .

I found that one of the most important advantages is the tamper-proof, which is critical in the financial system. People can not alter the data already exist, thus avoid many sorts of fraud in today's financial systems.

Nowadays, bitcoin is the only thing that can help people in their daily lives for free just by researching how to earn money and affordable and best if you have your own computer in your house and internet you can easily become rich with it.

Great. I just want to add. the main Advantage of bitcoin other than other curriencies is its CONVENIENCE . I think it was partly discussed above. Here, you can Buy or Sell stuffs in an instant and hassle free. Unlike if you use Fiat. you need to go to somewhere to pay which is time and effort consuming.

Payment freedom - It is possible to send and receive bitcoins anywhere in the world at any time. No bank holidays. No borders. No bureaucracy. Bitcoin allows its users to be in full control of their money.

Choose your own fees - There is no fee to receive bitcoins, and many wallets let you control how large a fee to pay when spending. Higher fees can encourage faster confirmation of your transactions

Fewer risks for merchants - Bitcoin transactions are secure, irreversible, and do not contain customers’ sensitive or personal information. This protects merchants from losses caused by fraud or fraudulent chargebacks, and there is no need for PCI compliance.

Security and control - Bitcoin users are in full control of their transactions; it is impossible for merchants to force unwanted or unnoticed charges as can happen with other payment methods. Bitcoin payments can be made without personal information tied to the transaction. This offers strong protection against identity theft. Bitcoin users can also protect their money with backup and encryption.

Transparent and neutral - All information concerning the Bitcoin money supply itself is readily available on the block chain for anybody to verify and use in real-time. No individual or organization can control or manipulate the Bitcoin protocol because it is cryptographically secure. This allows the core of Bitcoin to be trusted for being completely neutral, transparent and predictable.

in fact there are so many advantage of bitcoin, the most important advantage is that bitcoin can be use in any part of the world without changing it in to any other currency, as bitcoin is a universal and decentralize currency of the world.

I agree with this list since these are the advantages over it. You can monitor transactions over the block chain also. It's safe to transact with bitcoin.

It seems that your last point of very low fees is no longer as good as it has been before. With prices touching $900 per coin and the tendency of further rising, they may become quite burdensome in dollars unless you are using an online wallet like Xapo or Coinbase, which pay the fees for you. And it is not given that they won't start charging the transaction fees if the price continues to rise.

It's best advantage is seen when viewing it as a currency, having an income is just a bonus of using bitcoin but in reality, it really help us to transact anonymous online and be able to enjoy what our bitcoins with different entertainment online.

The advantage of bitcoin for me was I think the transaction fees is very low, And through online bitcoin can be use too. It is also very affordable, convenient to anyone who will get involve here in bitcoin world. Lastly, Bitcoin is one of the kind of opportunity to anyone that can help people or individual to have an extra income.

Bitcoin has many advantages but I will list a few ;

Freedom in Payment- it is very possible to be able to send and get money anywhere in the world at any given time. You don’t have to worry about crossing borders, rescheduling for bank holidays, or any other limitations one might think will occur when transferring money. You are in control of your money with Bitcoin. There is no central authority figure in the Bitcoin network.

Control and Security- Allowing users to be in control of their transactions help keep Bitcoin safe for the network. Merchants cannot charge extra fees on anything without being noticed. They must talk with the consumer before adding any charges. Payments in Bitcoin can be made and finalized without one’s personal information being tied to the transactions. Due to the fact that personal information is kept hidden from prying eyes, Bitcoin protects against identity theft. Bitcoin can be backed up and encrypted to ensure the safety of your money.

Information is Transparent- With the block chain, all finalized transactions are available for everyone to see, however personal information is hidden. Your public address is what is visible; however, your personal information is not tied to this. Anyone at anytime can verify transactions in the Bitcoin block chain. Bitcoin protocol cannot be manipulated by any person, organization, or government. This is due to Bitcoin being cryptographically secure.

Very Low Fees- Currently there are either no fees, or very low fees within Bitcoin payments. With transactions, users might include fees in order to process the transactions faster. The higher the fee, the more priority it gets within the network and the quicker it gets processed. Digital Currency exchanges help merchant process transactions by converting bitcoins into fiat currency. These services generally have lower fees than credit cards and PayPal.

The best advantages of bitcoins is that u dont have to go to banks for bitcoins and the security is pretty good in heee and there is no involvent of third party in case of any transactions.