Topic: The advantages of bitcoin - page 14. (Read 20534 times)

The following are some of the major advantages of using Bitcoin versus other currency systems:

No Third-Party Seizure
Since there are multiple redundant copies of the transactions database, no one can seize bitcoins. The most someone can do is force the user, by other means, to send the the bitcoins to someone else. This means that governments can’t freeze someone’s wealth, and thus users of Bitcoins will have complete freedom to do anything they want with their money.

No Taxes
There is no way for a third party to intercept transactions of Bitcoins, and therefore there is no viable way to implement a Bitcoin taxation system. The only way to pay a tax would be, if someone voluntarily sends a percentage of the amount being sent as tax.

No Tracking
Unless users publicize their wallet addresses publicly, no one can trace transactions back to them. No one, other than the wallet owners, will know how many Bitcoins they have. Even if the wallet address was publicized, a new wallet address can be easily generated. This greatly increases privacy when compared to traditional currency systems, where third parties potentially have access to personal financial data.

No Transaction Costs
Sending and receiving Bitcoins requires users to keep the Bitcoin client running and connected to other nodes. Essentially, by using bitcoins users will be contributing to the network, and thus sharing the burden of authorizing transactions. Sharing this work greatly reduces transaction costs, and thus makes transaction costs negligible.

No Risk of “Charge-backs”
Once Bitcoins are sent, the transaction cannot be reversed. Since the ownership address of Bitcoins will be changed to the new owner, once it is changed, it is impossible to revert. Since only the new owner has the associated private key, only he/she can change ownership of the coins. This ensures that there is no risk involved when receiving Bitcoins.

Bitcoins Cannot be Stolen
Bitcoins’ ownership address can only be changed by the owner. No one can steal Bitcoins unless they have physical access to a user’s computer, and they send the bitcoins to their account. Unlike convential currency systems, where only a few authentication details are required to gain access to finances, this system requires physical access, which makes it much harder to steal.

for me the advantage of bitcoin transaction is its reliability and affordability.Once Bitcoins are sent, the transaction cannot be reversed. Since the ownership address of Bitcoins will be changed to the new owner, once it is changed, it is impossible to revert. and also bitcoin is that it gives financial assistance and secure feeling to the it's users.

Bitcoin is setting a new world order in the financial sector, banks are scared of Bitcoin and now they are laughing because it declines at the moment because of the bears, futures and the Chinese new year but Bitcoin shall get stronger and stronger and banks will enforce protection by governments but all these shall not hold Bitcoin to grow.

the bitcoin allows online users to process transactions through digital units of exchange and it also gives individuals money to maintain their basic needs

advantage of bitcoin for me is to have a extra income can reduce the number of employee when it choose the bitcoin rather than a job its because in bitcoin have a possible you can be a instant millionaire and it is a easy job for me unlike my job before.

I think Bitcoin has many advantages, one advantage is giving individuals money to maintain basic needs, it can also reduce the number of unemployment increases in some countries, the benefits of bitcoin and Bitcoin can be used anytime and anywhere.

the global interest in bitcoins has grown. So, it becomes extremely important to understand the base of this and all other forms of virtual currencies. Bitcoin, and its alternatives are all based on cryptographic algorithms which are encrypted. This makes the currency decentralized giving ownership to the user.These can be purchased through an online exchange or a Bitcoin ATM. Landmark feature of a bitcoin is that it can curb the chances of fraud and identity thefts, and hence is considered a safe mode of holding money.Bitcoins allow buying of goods and services online, as well as transferring money.

There are a lot of advantages in bitcoin, I just want to talk briefly about the freedom in payment.  With Bitcoin 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.

bitcoin cannot be controlled. You hear all the governments right now, they are saying they will control it, and regulate it... its not going to happen. THEY CAN*T

There are so many advantages of bitcoin.Some of them are given below
1.Bitcoin is the most trusted cryptocurrency,
2.Bitcoin is the safest cryptocurrency.
3.No one can hack bitcoin
4.Bitcoin price changes automatically that's why there is no chance to be cheated etc.

Well, basically since the appearance of bitcoin most people who want to try and work hard to get many benefits in it. Because we can easily earn money without having to work hard or spend a lot of sweat, it is only mandatory on the computer screen and connected to the internet network our earnings can exceed most of the salaries of the top officials of a company. Although not all of the company's top brass, but at least can succeed to be someone who is worthy to live in peace. In addition we also get many other advantages, where indeed the reduction of unemployment persists but that all if the state status will remain unemployed. 

there is no doubt that its transitions are very fast and any one can transfer it from one country to another country but i believe that there are some more good advantages of bitcoin as well its price is high and now its available in many countries and you can also earn a lot of money from it because bitcoin is the best currency than any other it's also a fact that you can earn from bitcoin easily and it change a life fast there are some more advantages of it and i think its not possible to explain all these .

Hopefully less socialized debt and privatized profits.

its only the advantage of bitcoin it is so fast and safest method of all through to exchange currency as well as to transfer one all over the world . Bitcoin is new era rising to reform the world.

For me the advantages of bitcoin is, yes of course, You can earn money in bitcoin like what you've said. Bitcoin is extra income. And the second advantage of bitcoin is you can learn or experience how to trade, or you may learn what is the concept behind the market. If you Learned how to trade, buy, sell etc in crypto you can also do it in stocksmarket. Cryptomarket and stocksmarket are almost the same. But the volatility of the cryptomarket are way too high than stocksmarket. Therefore, The major advantages of bitcoin is Extra income and to be an experienced and wise investor.

My favorite advantage of bitcoin is that I can transfer it pretty fast from one country to another and the transaction fee is also fast

Lots of advantages of bitcoin: You can bitcoin  in your business, you can make the bitcoin possible by making your family proud.

In my point of vies the biggest advantages of bitcoin is, educating me on blockchain technology by following the icons studying them I learn so many things and new things. Another advantage is that is more important maybe possibility of feeling to be rich at some level.

yes.you are very true.it has many advantages to our life.In terms of financial problem i think bitcoin will resolve it.well if you work it hard enough.it is not easy to earn bitcoin.work hard and patience.

The greatest advantage of bitcoin is it saves your time spending a lot of effort just to make money in the work place while someone is controlling your life, this is the employer who is giving you order all the time where in your life becomes bondage by the person, and the power of government by taking some portion of your money. Bitcoin offers a convenient and a very essy life, hassle free and assure your success if only you know the system.