Topic: So Whats the Difference when you use BTC? (Read 3334 times)
The difference is the delay time when paying by bitcoin comparing to paypal which is instant and i get the digital product instant, when using bitcoin i should wait from 1 to 6 confirmation and then to get the product.
One big thing I can think of is that every time you use a credit/debit card, a transaction fee goes to a big bank/payment processor. With btc, it goes to a miner.
Other than that, how does it benefit you to use btc? I mean you need fiat to get btc, and then usually need to take fiat out. So where is the net benefit besides the fees being lost by the big banks/payment companies?
the main part of using bitcoin is that no one knows who sent the payment you dont get this with credit card transactions. Other than that, how does it benefit you to use btc? I mean you need fiat to get btc, and then usually need to take fiat out. So where is the net benefit besides the fees being lost by the big banks/payment companies?
The main benefits are really showing at merchants, because they dont have to pay CreditCard fees.
Don't forget about the chargebacks! I have watched a testimony of a small merchant store in the NY. The owner has said that he has about 25% chargeback rate on its monthly credit card payments, every month!
That's a huge hit for the owners of these little stores that goes out of their pockets directly!
I can see where this would be hugely beneficial to merchants getting ripped off. I am always weary selling on eBay too, considering paypal now give a 6 MONTH window for disputes to be filed.
I've gone though a paypal dispute, facts dont seem to matter, only their "terms of service". So if you know the terms of service and how to use them to your advantage, its very easy to cheat people on there.
When using BTC u have full control of money and flow of money.
No 3rd party moving your money from A to B.
No 3rd party moving your money from A to B.
Very low fees, simple and usually complete within an acceptable time period and most important of all... no damn charge-backs from scams.
The main benefits are really showing at merchants, because they dont have to pay CreditCard fees.
Don't forget about the chargebacks! I have watched a testimony of a small merchant store in the NY. The owner has said that he has about 25% chargeback rate on its monthly credit card payments, every month!
That's a huge hit for the owners of these little stores that goes out of their pockets directly!
The main benefits are really showing at merchants, because they dont have to pay CreditCard fees.
When we use bitcoin we don't need to give our data and perso info for third person or company , as usually when we use the banking services
this will not make much difference in the end, because you need to give your shipping address anyway, which is full of your infor, unless you have a friend at whom you can send stuff
but then he is in trouble if something happen, no escape from that
One big thing I can think of is that every time you use a credit/debit card, a transaction fee goes to a big bank/payment processor. With btc, it goes to a miner.
Other than that, how does it benefit you to use btc? I mean you need fiat to get btc, and then usually need to take fiat out. So where is the net benefit besides the fees being lost by the big banks/payment companies?
the benefit is,you can find bitcoin faucet,but you can't find money faucet,you can collect bitcoin for free,but you will hard to collect money for free.Other than that, how does it benefit you to use btc? I mean you need fiat to get btc, and then usually need to take fiat out. So where is the net benefit besides the fees being lost by the big banks/payment companies?
its already benefit,agree?
When we use bitcoin we don't need to give our data and perso info for third person or company , as usually when we use the banking services
The difference is on physic,i can buy aomething without going anywhere,juat use my smartphone,ans low fee. If i use debit card,i must register it in bank,and with bitcoin i'm not,just simple make own wallet
When we use bitcoin we can reserve our personal informations safe and also keep in our pocket the amnts needed usually as fee, when using fiat or banking services. Also the transactions with bitcoin don't take long time
for me its the speed and transaction fees , sending money from betting sites and stock exchanges and the fees adds up.
One big thing I can think of is that every time you use a credit/debit card, a transaction fee goes to a big bank/payment processor. With btc, it goes to a miner.
Other than that, how does it benefit you to use btc? I mean you need fiat to get btc, and then usually need to take fiat out. So where is the net benefit besides the fees being lost by the big banks/payment companies?
Other than that, how does it benefit you to use btc? I mean you need fiat to get btc, and then usually need to take fiat out. So where is the net benefit besides the fees being lost by the big banks/payment companies?
I don't want this is sound off-topic it is actually going straight to your topic. What I picture for the future is a world without paper and without a "wallet". This is getting there already with things like ApplePay and PayPal, but I think that BTC is more suited to the final stages. I picture leaving the house everyday with nothing more than my phone. It will have my ID in it and all my money. I think the way that BTC does this is better than PayPal or Google or whomever.
I really like the low transaction fees I get by using bitcoin.
I can save my bitcoins without having to worry about the bank getting bankrupt and running off with my money
I can save my bitcoins without having to worry about the bank getting bankrupt and running off with my money
I think this is what he is saying.... you do not benefit from lower fees, if you have to pay to get Bitcoin, then pay miners fees when you use it, and then pay again to get it
converted back to fiat. You score more fee's when you do not convert to fiat, and I think this is where the real difference comes in. Do not convert, pay in BTC.
Bitcoin will work best, when everything is done in BTC... NOT fiat.
Except, not every retailer or monthly bill that i'm paying is accepting in bitcoins, I'm still going to need fiat for now.
Like it or not we are tied to fiat as long as governments exists, or as long as governments accept BTC, which is unlikely that this is happening anytime soon. We don't need to wait for this tho. Even if you needed to still convert your BTC to fiat to pay taxes, you could do everything else with BTC and BTC only as more merchants accept it and as more people get paid with it.
I really like the low transaction fees I get by using bitcoin.
I can save my bitcoins without having to worry about the bank getting bankrupt and running off with my money
I can save my bitcoins without having to worry about the bank getting bankrupt and running off with my money
I think this is what he is saying.... you do not benefit from lower fees, if you have to pay to get Bitcoin, then pay miners fees when you use it, and then pay again to get it
converted back to fiat. You score more fee's when you do not convert to fiat, and I think this is where the real difference comes in. Do not convert, pay in BTC.
Bitcoin will work best, when everything is done in BTC... NOT fiat.
Except, not every retailer or monthly bill that i'm paying is accepting in bitcoins, I'm still going to need fiat for now.
I really like the low transaction fees I get by using bitcoin.
I can save my bitcoins without having to worry about the bank getting bankrupt and running off with my money
I can save my bitcoins without having to worry about the bank getting bankrupt and running off with my money
I think this is what he is saying.... you do not benefit from lower fees, if you have to pay to get Bitcoin, then pay miners fees when you use it, and then pay again to get it
converted back to fiat. You score more fee's when you do not convert to fiat, and I think this is where the real difference comes in. Do not convert, pay in BTC.
Bitcoin will work best, when everything is done in BTC... NOT fiat.
I really like the low transaction fees I get by using bitcoin.
I can save my bitcoins without having to worry about the bank getting bankrupt and running off with my money
I can save my bitcoins without having to worry about the bank getting bankrupt and running off with my money
For hackers and criminals: anonymous transaction
For small workers: no tax and low fee to get and move money
For paypal restricted countries: Good way to get funds in hand
For me: Low fee, i can't use paypal, i don't have credit cards.
For small workers: no tax and low fee to get and move money
For paypal restricted countries: Good way to get funds in hand
For me: Low fee, i can't use paypal, i don't have credit cards.
The feeling when you ask 'do you accept bitcoin' in some brick and mortar store or restaurants look cool. If they also use bitcoin they may give you a huge discount! dude!
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