my situation with bitcoin how it helped me real use case today

TedMosby

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https://bitcointalk.org/index.php?topic=5274318.0

Quote from: cryptoboss2020 on November 04, 2020, 02:42:52 PM

so my friend has money but not same bank as me he was different country but he wanted to give money to me and i need it fast so he bought bitcoin and i got money same day

he never used bitcoins and he thinks now its amazing:) btc really solved that situation that he had different bank then me and not possible physically to give money

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Lol

But, due to the volatility and confirmation time,
Why do you choose bitcoin rather than stablecoin, for example usdt trc20.
Low fee, stable, and faster.

I know this is bitcoin discussion board, I am bitcoin fan too.
but I am just trying to be more realistic.
CMIIW, maybe I miss something on this.

saffira

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Bitcoin had helped me a lot this pandemic. I almost spent all my savings in bank. Its good that I earned bitcoin through campaigns. Its good that I am using coins.ph app, I sell my bitcoin to convert it to our local currency. It helps me buy our daily needs during quarantine period.

mung_nasib

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when the country supports the existence of crypto money, it is likely that someone will be interested in trying to invest In addition to a fast transaction process, bitcoin also has a high selling value so that their opportunity to find income is more guaranteed.

Yatsan

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That is really one of the most amazing benefits that Bitcoin can offer when it comes to services concerning transactions for you do not need any bank issue concerns even if the case is that you both are having different banks and cannot be able to send money directly due to bank's terms and policies applied that transactions must be done on the same bank services. With Bitcoin, it will be just seamless and fast concerning no third party to make the transaction be processed and successful plus the concern is the time and range wherein on money transfer with banks can take so much time and sometimes needed for a money remittance center to be able to send money overseas with higher fees. With Bitcoin all of that is solved which makes it a lot more convenient compared to banking system. That is just some of the benefits that Bitcoin can provide and it is really amazing that people is starting to realize how great Bitcoin is based on the case of the OP.

Harriti

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Quote from: cryptoboss2020 on November 04, 2020, 02:42:52 PM

so my friend has money but not same bank as me he was different country but he wanted to give money to me and i need it fast so he bought bitcoin and i got money same day

he never used bitcoins and he thinks now its amazing:) btc really solved that situation that he had different bank then me and not possible physically to give money

yep, this is one of the strengths of Blockchain technology and it is also one of the reasons people want a decentralized bank based on Blockchain technology. And as you can also see, illegal money makers can completely launder money on the Blockchain platform with ease. This is also one of the reasons why Bitcoin cannot be Viral when it is so useful.

milani

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Quote from: Chris Barth on November 04, 2020, 04:24:08 PM

Heard about the first bitcoin transaction? This is the exact reason why bitcoin was created. Most people think it's about making money. Nah! I'm glad you just had a taste of it. The bank could have asked you to bring documents an all but, thanks to Satoshi Nakamoto!

Yeah, Bitcoin and crypto are plenty of opportunities for people. May be nowadays who use crypto often and such transactions are like some ordinary things, have forgotten the taste of first transaction and some kind of freedom that we got with it, but this story reminded us what the most bright benefit crypto gave to lots of users.

nemey

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Indeed, in many urgent situations bitcoin is much more profitable because it is easier to exchange money and transact remotely with bitcoin. This should be the government's concern, so that the payment system or international transactions becomes easier and faster.

samputin

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Glad to know that you experienced one of the many benefits of bitcoin — not needing a middleman. It's direct, fast, less hassle. I hope your friend continue to patronize bitcoin because that's not the only benefit bitcoin can give you. Maybe you can help your friend explore it more. Wink

Quote from: Lorence.xD on November 04, 2020, 11:35:15 PM

Good for you experiencing the wnders of decentralized currency. I had mine a while back, really needed the money to buy some necessity, banks are intimidating for a student like me. The wonders of bitcoin never stops to amaze me, I am currently saving to have funds for trading and investing. There are transaction fees though, but this is not an inconvenience as the fees in my country is minimal and not that eyebrow raising because they are transparent with their transaction.

I started with bitcoin when I was a student, too, and I have to admit, I liked it better than banks. I think it has greater returns especially when you just wait, and hold and the price suddenly booms. Transaction fees can sometimes be a pricy but at least it's fast. Wink

bayu7adi

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dont be greedy

Quote from: cryptoboss2020 on November 04, 2020, 02:42:52 PM

so my friend has money but not same bank as me he was different country but he wanted to give money to me and i need it fast so he bought bitcoin and i got money same day

he never used bitcoins and he thinks now its amazing:) btc really solved that situation that he had different bank then me and not possible physically to give money

Cool, you implement and take advantage of a peer to peer transaction from Bitcoin. In this case, the existence of BTC really helps us to make money transfers quickly and the transaction fees are cheap. It is very different if we use third parties like those used by the banking system, they will charge service fees ranging from $ 25 to $ 35 for a single transaction depending on the policies of each bank. And also usually there are problems in sending using the bank, namely the amount we send does not match the amount received by the recipient, because there are a lot of costs when the money is on its way to the recipient's bank. This makes us very uncomfortable.

Very happy that I can live in the era of cryptocurrencies that can be a solution to this problem.

bitterguy28

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Quote from: cryptoboss2020 on November 04, 2020, 02:42:52 PM

so my friend has money but not same bank as me he was different country but he wanted to give money to me and i need it fast so he bought bitcoin and i got money same day

Good thing that His willingness to help gives him opportunity to encounter and use bitcoin and now as he had already experienced amaze is what he got?

this is the thing that many people are missing,the denial of giving a shot and they will satisfy themselves for sure.

Quote from: cryptoboss2020 on November 04, 2020, 02:42:52 PM

he never used bitcoins and he thinks now its amazing:) btc really solved that situation that he had different bank then me and not possible physically to give money

Lucky that the congestion is already over when he send you because if not?maybe another delay happens .

adzino

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Quote from: cryptoboss2020 on November 04, 2020, 02:42:52 PM

so my friend has money but not same bank as me he was different country but he wanted to give money to me and i need it fast so he bought bitcoin and i got money same day

he never used bitcoins and he thinks now its amazing:) btc really solved that situation that he had different bank then me and not possible physically to give money

Of course it is amazing that you could send bitcoin almost instantly from one country to another. Hope he didn't have to pay those crazy fee when the network was congested. But, yeah you all probably had to pay premium price for instantly buying bitcoin and instantly selling selling it for fiat (conversion fees are crazy) through ATM withdrawal (or did you do bank transaction? They do have some delays sometimes).
It is easier for smaller amount of transfer, but when it comes to huge amount, you might face some problem when trying to convert BTC to fiat.

worldofcoins

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Quote from: cryptoboss2020 on November 04, 2020, 02:42:52 PM

so my friend has money but not same bank as me he was different country but he wanted to give money to me and i need it fast so he bought bitcoin and i got money same day

he never used bitcoins and he thinks now its amazing:) btc really solved that situation that he had different bank then me and not possible physically to give money

Bitcoin is an incredible and quickest approach to send or get cash. I had a similar encounter one of my customers was looking to send me cash.
He lives abroad so I request that he send me bitcoins.
He purchased the bitcoins and send me all the cash in one minute, he becomes stunned and getting some information about it he starts taking an interest and assume its a magnificent strategy to send cash worldwide with no additional charge.
I am happy that your companion takes an interest as well, we can say we have another customer now.

Casdinyard

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Quote from: oktana on November 07, 2020, 04:20:47 PM

Quote from: Serious475 on November 05, 2020, 08:54:50 AM

Quote from: oktana on November 05, 2020, 02:20:49 AM

Great! Amongst the advantages of bitcoin, this happens to be my favorite. Being about to transact with people across the world. Since I got to know about bitcoin, I've worked for different people who I never knew in person, and they always paid in bitcoin(though the fee can be a challenge) or in other cryptocurrency.

Bitcoin can really make you grow because you can learn how to take risk, how to make yourself stronger, how to get up from failures and how to have a goal in your life. You may also learn a lot of things on bitcoin when it comes to having a business just like how to make yourself about the new season of your business or how can you make your product popular just like what is happening in bitcoin, it is better if you make the price higher if the demand goes high and lower if demand go low.

I don't really understand what you. Bitcoin isn't about the things you just said... It may help you learn how to take risks but helping you learn how to get up from failures, and how you can make your product popular... Nah. That's not bitcoin bro.

Exaggerated in a way. He must be talking about the experiences as an investor or trader wherein it is related to decision making and such but that's not the focus of this topic.

But going back, Bitcoin as the mode of transaction is the bottomline. Transactions are fast and fees are lower then in fiat transactions. But things will be different if it is investment means because there will be risks. Good thing that Bitcoin helped you in your situation but that won't still be enough to convince all countries to adopt this technology and with that being said, there will still be limitations before more people make use of its advantages as a medium.

oktana

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Quote from: Serious475 on November 05, 2020, 08:54:50 AM

Quote from: oktana on November 05, 2020, 02:20:49 AM

Great! Amongst the advantages of bitcoin, this happens to be my favorite. Being about to transact with people across the world. Since I got to know about bitcoin, I've worked for different people who I never knew in person, and they always paid in bitcoin(though the fee can be a challenge) or in other cryptocurrency.

Bitcoin can really make you grow because you can learn how to take risk, how to make yourself stronger, how to get up from failures and how to have a goal in your life. You may also learn a lot of things on bitcoin when it comes to having a business just like how to make yourself about the new season of your business or how can you make your product popular just like what is happening in bitcoin, it is better if you make the price higher if the demand goes high and lower if demand go low.

I don't really understand what you. Bitcoin isn't about the things you just said... It may help you learn how to take risks but helping you learn how to get up from failures, and how you can make your product popular... Nah. That's not bitcoin bro.

ice18

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This is actually the mission of Satoshi why he created bitcoin a peer to peer payment system with no borders and less payments fees compared to existing money transfer services, you can also share it Op in your social media circles of friends so that many people can also try how bitcoin can help one individual can transfer money from one country to another fast and without huge fees involved.

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Quote from: cryptoboss2020 on November 04, 2020, 02:42:52 PM

so my friend has money but not same bank as me he was different country but he wanted to give money to me and i need it fast so he bought bitcoin and i got money same day

he never used bitcoins and he thinks now its amazing:) btc really solved that situation that he had different bank then me and not possible physically to give money

That was a good experience between you and your friend. Now, both of you know how useful bitcoin is and how fast the transaction than banks. Bitcoin is a hassle free transaction in just a minute. Bitcoin has a lot of benefits and very useful specially this time of pandemic.

Rajamuda

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Well, basically bitcoin certainly has a good side, and its benefits in transacting online, can help many people on the financial side of this situation. The soaring price of bitcoin, it must be due to social distancing as well, most of the people of course prefer safety efforts in this kind of situation and stay at home, but it can earn money.

Innocant

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Quote from: cryptoboss2020 on November 04, 2020, 02:42:52 PM

so my friend has money but not same bank as me he was different country but he wanted to give money to me and i need it fast so he bought bitcoin and i got money same day

he never used bitcoins and he thinks now its amazing:) btc really solved that situation that he had different bank then me and not possible physically to give money

Ill think you friend now is happy that send you a bitcoin easily and just like other comments here are no third party that can struggle you a lot. And maybe your friend now is trying to use bitcoin as payment because there are some stores or any businesses that accepted bitcoin. And yes thats true bitcoin is amazing on when the time need money bitcoin are still there, And the one thing said bitcoin is a scam are those people not try on how useful bitcoin it is.

Darkelf11

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Quote from: maxreish on November 05, 2020, 05:19:37 AM

Quote from: Oasisman on November 04, 2020, 05:32:38 PM

I wonder how much miners fee did your friend set up to get confirmed the same day. Since transaction fees today are so damn high, and I'm surprised he didn't reacted so much (I assume since you didn't mentioned about it) about how expensive it was

Of course, he doesn't care about the fees because he only thinks about how to transfer the btc successfully. But time will come he'll gonna realized he paid for huge fees to prioritize his transaction Grin

.

Maybe he is aware of how much the transaction fees have cost if he's a long-time user of bitcoin. His friend can choose what fees does he want for the transaction but these fees have a corresponding time on when will you receive the amount. Ofcourse to speed up the transaction he must pick the large amount transaction fees.

Quote from: cryptoboss2020 on November 05, 2020, 11:56:05 AM

the problem with btc is high volatility.

Sometimes bitcoin's volatility can be a great time opportunity to buy and sell your bitcoins. It will become a problem if the price of bitcoin continue to dump.

Genemind

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Quote from: cryptoboss2020 on November 04, 2020, 02:42:52 PM

so my friend has money but not same bank as me he was different country but he wanted to give money to me and i need it fast so he bought bitcoin and i got money same day

he never used bitcoins and he thinks now its amazing:) btc really solved that situation that he had different bank then me and not possible physically to give money

That's actually one of the advantage and edge of Bitcoin. It's accessible and convenient for us to use than banks, especially in emergencies like you had. I was also having the same struggle of transferring funds through bank transactions before because it usually takes 3-4 business days but when I started using Bitcoin, I could transact instantly which I'm grateful for. There might be pros and cons but it still depends on how you handle crypto transactions.

Topic: my situation with bitcoin how it helped me real use case today (Read 585 times)