Some of the benefits of Bitcoin ... - page 3.

Serious475

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Quote from: gagux123 on October 26, 2020, 01:07:25 AM

For me, currently, bitcoin has several benefits, for example:

• Privacy, you can send and receive bitcoin without identifying yourself.

• Another advantage is speed, you can send bitcoin to someone on the other side of the world and a few minutes the other person will receive

• Value reserve (digital gold), being limited to 21 million units, bitcoin is scarce and a deflationary asset, unlike FIAT money, which can be inflated by governments and central banks around the world.

• And finally, and for me one of the most important ones, bitcoin is decentralized, you don't need a third party involved, nor a bank or anything like that to be able to send or receive bitcoin, you are your own bank

Privacy is not just a benefit but it is our right to get anonymous because we cannot reveal our own identity and if we do that, tax collector will surely chase us. Speed is really one of the advantage and benefit of bitcoin compare to the currency right now because we can easily send money on the people we know in just a few minutes unlike the fiat currency. Earning using bitcoin is the best advantage or benefit we can get by using bitcoin and i am very happy that i am earning right now through bitcoin.

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Quote from: gagux123 on October 26, 2020, 01:07:25 AM

For me, currently, bitcoin has several benefits, for example:

• Privacy, you can send and receive bitcoin without identifying yourself.

• Another advantage is speed, you can send bitcoin to someone on the other side of the world and a few minutes the other person will receive

• Value reserve (digital gold), being limited to 21 million units, bitcoin is scarce and a deflationary asset, unlike FIAT money, which can be inflated by governments and central banks around the world.

• And finally, and for me one of the most important ones, bitcoin is decentralized, you don't need a third party involved, nor a bank or anything like that to be able to send or receive bitcoin, you are your own bank

the advantages that you mentioned are true, but you must know that behind the advantages of bitcoin there are several weaknesses that might pose a threat to many people, the most obvious weakness is the total supply of bitcoin, when bitcoin only has a supply of 21 million pieces of bitcoin. it will be very difficult to be used by all people in the world, because there will definitely be price inflation that will make many people lose even though some can take advantage of the unstable price movements of bitcoin because everyone in the world uses it.

so stay careful with the steps you choose and the weaknesses of bitcoin because it is the biggest risk.

gagux123

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For me, currently, bitcoin has several benefits, for example:

• Privacy, you can send and receive bitcoin without identifying yourself.

• Another advantage is speed, you can send bitcoin to someone on the other side of the world and a few minutes the other person will receive

• Value reserve (digital gold), being limited to 21 million units, bitcoin is scarce and a deflationary asset, unlike FIAT money, which can be inflated by governments and central banks around the world.

• And finally, and for me one of the most important ones, bitcoin is decentralized, you don't need a third party involved, nor a bank or anything like that to be able to send or receive bitcoin, you are your own bank

GDragon

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Quote from: isaac_clarke22 on October 21, 2020, 09:10:35 AM

Quote from: sajedul islam on June 15, 2020, 06:31:05 AM

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Sadly, there are only like countable number of merchants here in my country that accepts it as a payment method.
Many would still prefer the traditional way of holding local currency because it's what they got used to do in making simple transaction. Kudos to those who were willing to take the risk to adopt it even if it was an unstable currency.

Same thing in my country as well, most of the people I knew doesn't even know what bitcoin is aside from the fact the it is used by some scammers. I have high hopes of bitcoin in the future too but as of now, I can't live without using fiat currency. Haven't seen a restaurant accepting bitcoin in my whole life. I promised myself if I've seen one, I'll try to use it. For bitcoin to be used by the people in the future, we should engage in using it too.

ghost424

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Quote from: Kasabus on October 22, 2020, 09:58:32 AM

Quote from: owengtam09 on October 22, 2020, 09:43:18 AM

Bitcoin has a lot of benefits, and the privacy of your wallet is already on your bitcoin wallet and how you can handle your security. Bitcoin transfer online or payments online is more likely popular when it comes to cryptocurrencies and it is used nowadays especially pandemic. People are more likely to used online payments and online transfer for them to give some help to their relatives.

Bitcoin has been very advantageous in this time of pandemic because with just one click online, your transaction will be successfully send safely and secured as long as internet connection is stable. Aside from having a convenient online transaction, bitcoin is also known as a good store of value and a good investment for our retirement. But bitcoin has also its own risks so make sure to study it first before using it.

Another thing to add about Bitcoins security is its way on how people can use it without minding of losing their Bitcoin randomly. They are sure that whatever they are paying for, they are only paying for it at the right amount and no extra charges, ITS TAX FREE!! (for now). The only fee that incurs payment with Bitcoin is the gas fee that you are using to transfer Bitcoins. Learning about Bitcoin is already a benefit that you can have since its extra knowledge that can be monetized with.

Wesleyeric

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I have to contribute something on this, You are right my dear friend, bitcoin is faster in transaction than any other currencies, but I want you to understand that it not every one that can afford the charges of bitcoin, You can use bitcoin machine to transfer money across the world, but you have to know that crypto currencies charges is very higher then other currencies, Some bitcoin Atm charges are 10% or higher, Will you be happy if 10% of your money is deducted? I guess the answer is no, So you have to understand that bitcoin is choice ok, Is something you need to understand before you go into. If you can accept the charges then you go ahead, bitcoin don’t have a physical bank? No customer car line to call for help, everything is on your own risk, Sometimes bitcoin is very difficult to understand.

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There are many benefits of bitcoin such as:
- User Autonomy
- Peer-to-Peer Focus
- etc

shata

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Quote from: sajedul islam on June 15, 2020, 06:31:05 AM

Some of the benefits of Bitcoin ...

The reason why Bitcoin is becoming so popular all over the world is that it offers users many times more benefits than the currencies that are currently in circulation. For example, I can use Bitcoin to buy many things online. I enjoy many benefits by paying bitcoin. Nowadays it is becoming known as the ideal currency. It is also suitable for those living in privacy-conscious or underdeveloped financial infrastructure.
Bitcoin Wallet protects the privacy of transactions.
Its advantage rate is increasing with a war transfer using conventional currency.
Forgive me if there is anything wrong with this writing.

If you want to protect your privacy transactions, there are alternative coins specific in privacy like Monero, Zcash and etc that has this features.

Back to Bitcoin, ofcourse mate! Bitcoin has a lot to offer to us. Though in reality it only has a simple matrix of use case, peer to peer transaction, but what prevails to it is the trust and belief of a lot of people and its future.

Benefits on my opinion are:
1. Peer to peer transaction for lesser fees, transparent and safety removing the 3rd part involvement especially the financial institutions (based on whitepaper).
2. Security and privacy of wealth. You can hide your assets in form of bitcoin (for tax purposes)
3. Today, Bitcoin is now a very used medium currency in online world.

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Speaking of the benefits of bitcoin it’s numerous but I appreciate it more because of its anonymous nature and not being centralized and controlled by the bank. Bitcoin keeps the user in charge of his/her funds and has multiple use in term of financial transactions.

Xembin

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Bitcoin has showed so much benefits to the users that make the BTC community more popular in the country. Many has improved in their businesse with the help of bitcoin which is not too slow in profit making compared to fiat money which people think there is no other currency than fiat until they tested bitcoin to discovered that bit is more better than fiat money.
Your wallet is well sure unless you disclose your transaction details to public that will make your money not to safe in your wallet. You can buy and pay with your bitcoin without a worry of fiat money.

shamimal93

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I have answered this kind of question before. I have repeatedly said that the benefits of Bitcoin in everyday life cannot be overstated. This is what I am saying from my personal life. I used to play computer games all the time. It would have wasted my time as well as a loss of my eyes as a bonus. But playing this game would not have benefited me financially. But now I do bitcoin mining without wasting time playing games. Bounty is done most of the time. In this, I am getting money in return for time. I am now self-sufficient only because of this bitcoin. Another advantage of bitcoin is that it does not require any third party to be exchanged. That is, it is a decentralized process.

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Quote from: Naughty Princess on October 22, 2020, 11:20:44 PM

Quote from: leway.ph on June 16, 2020, 01:05:44 AM

To be honest bitcoin is not that easy to handle, to think the transaction fee is a bit higher to spend small amount for online shopping. But the advantage of using it privately is completely solid since no names, birthday or whatsoever information needed from sender and receiver.

Also transaction is irreversible, which make you accountable on every process you take. Bitcoin mostly used for investment rather than spending specially if transaction fee is expensive for the purchase. Bitcoin seems to be high again which we may keep till it happen and get profit.

We have to admit that Bitcoin has been an asset that owns the best performance in the past 10 years. It also has been added into different portfolios much more often than before.
Thus, many bitcoin derivatives such as Bitcoin Futures, Bitcoin Options, and Bitcoin Wealth management came out.

Many people must be familiar with Bitcoin futures and Bitcoin Options. But now, Bitcoin Wealth Managements also start getting some eye-contacts from the market.
Such as BitOffer Quantitative Fund which guarantees 20% Annualized return & 100% the original investment, in the past, no one will think it is possible to do that. But since now, the arbitrage strategies can be made because the bitcoin financial ecosystem developed and improved.

If you guys are interested in the Quantitative Fund I mentioned, feel free to discuss more with me on telegram: @bitofferqa
Or you can just go check on our website: https://www.bitoffer.com/finance/Def-Win-No1

Bitcoin will become real digital gold with a complete financial system.

Naughty Princess

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Quote from: leway.ph on June 16, 2020, 01:05:44 AM

To be honest bitcoin is not that easy to handle, to think the transaction fee is a bit higher to spend small amount for online shopping. But the advantage of using it privately is completely solid since no names, birthday or whatsoever information needed from sender and receiver.

Also transaction is irreversible, which make you accountable on every process you take. Bitcoin mostly used for investment rather than spending specially if transaction fee is expensive for the purchase. Bitcoin seems to be high again which we may keep till it happen and get profit.

Blackrain13

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Quote from: sajedul islam on June 15, 2020, 06:31:05 AM

Some of the benefits of Bitcoin ...

The reason why Bitcoin is becoming so popular all over the world is that it offers users many times more benefits than the currencies that are currently in circulation. For example, I can use Bitcoin to buy many things online. I enjoy many benefits by paying bitcoin. Nowadays it is becoming known as the ideal currency. It is also suitable for those living in privacy-conscious or underdeveloped financial infrastructure.
Bitcoin Wallet protects the privacy of transactions.
Its advantage rate is increasing with a war transfer using conventional currency.
Forgive me if there is anything wrong with this writing.

Bitcoin is indeed useful in different ways like investing, trading and online payment method. It's very helpful during the pandemic because it become an alternative source of income of many people who lost their job because of covid 19. And now it become more popular all over the world. The adoption also increasing like it's value.

FlightyPouch

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Quote from: Marina5 on October 20, 2020, 09:36:16 PM

Personally I am getting benefits from Bitcoin. In different situation, I use Bitcoin. As a large number of online shops are offering products for Bitcoin, I buy without any hassle. Besides, the transaction of Bitcoin saves my time and money.

This is really great is your country has a lot of users of bitcoin or other crypto currencies. But in terms of other countries where the number of users of bitcoin is so low, the acceptance of it is also low and we can't always use to things we wanted to that is why we are stucked on using fiat, we can convert some of it though to cash and use that.

GeorgeJohn

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Bitcoin is popular due to it's important in society, the currency has values and it can be secured in different dimension to avoid lost because its decentralized currency, so therefore government can't control its functions in cryptocurrency transactions, in another hands bitcoin is influential because of it's regularisation in price and investment which can yield profit to whom ever that adventure into it with precautions and finance which can attributes a source of getting rich within a period of time.

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Quote from: owengtam09 on October 22, 2020, 09:43:18 AM

Bitcoin has a lot of benefits, and the privacy of your wallet is already on your bitcoin wallet and how you can handle your security. Bitcoin transfer online or payments online is more likely popular when it comes to cryptocurrencies and it is used nowadays especially pandemic. People are more likely to used online payments and online transfer for them to give some help to their relatives.

Bitcoin has been very advantageous in this time of pandemic because with just one click online, your transaction will be successfully send safely and secured as long as internet connection is stable. Aside from having a convenient online transaction, bitcoin is also known as a good store of value and a good investment for our retirement. But bitcoin has also its own risks so make sure to study it first before using it.

owengtam09

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Bitcoin has a lot of benefits, and the privacy of your wallet is already on your bitcoin wallet and how you can handle your security. Bitcoin transfer online or payments online is more likely popular when it comes to cryptocurrencies and it is used nowadays especially pandemic. People are more likely to used online payments and online transfer for them to give some help to their relatives.

CasherUp

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One of the main benefits is privacy that is the first and most important and second are remittances that if it is the great boom

isaac_clarke22

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Quote from: sajedul islam on June 15, 2020, 06:31:05 AM

~

Sadly, there are only like countable number of merchants here in my country that accepts it as a payment method.
Many would still prefer the traditional way of holding local currency because it's what they got used to do in making simple transaction. Kudos to those who were willing to take the risk to adopt it even if it was an unstable currency.

Topic: Some of the benefits of Bitcoin ... - page 3. (Read 1809 times)