Topic: The advantages of bitcoin - page 39. (Read 20553 times)

There are many advantages of Bitcoin. Some of them I am gonna list them below.
1)Bitcoin is common currency for the world so you can do transactions with any need converting the currency.
2)It is very easy to earn there are many ways to earn.
Ex: Bitcoin forum, mining etc.
3)It reduces unemployment in countries which are under development and has less vacancies for job.
4)It's a alternative for students to earn money rather than doing part-time work.
5) Bitcoin transactions do not contain any private or sensitive information of the costumers.
6)The transactions in Bitcoin are faster compared to the old transactions ways of the bank.

There's many advantages to using Bitcoin. One of them is that they coins can be used to transfer payments much faster than with regular USD.

Yes, that's true. In addition to that, it is easy to invest, to earn money. And unlike in ordinary business, most of them set some standards in there business unlike in BTC, everyone are welcome to join anytime and anywhere haha. And also, the fees are so minimal and you have your power in making your money. You are the boss of your own business and that's is the biggest advantage as a businessman.

Bitcoin purchases are discrete. Unless a user voluntarily publishes his Bitcoin transactions, his purchases are never associated with his personal identity, much like cash-only purchases, and cannot be traced back to him. In fact, the anonymous Bitcoin address that is generated for user purchases changes with each transaction.

There are many advantages of bitcoins:
It’s fast
Payment Freedom
Low/Minimal Fees
Fewer risks for merchants
You can create your own money

The advantages of bitcoin is that, you can gain money in an easy way, but consisting patience and the capability to do work. Bitcoin is literally easy, for you can have your money at the end of the campaign or with every post you make, and after all of that you cn buy the things you want and need.        

The most important advantage of bitcoin is that it is truly ours, and no one can take that away from us, the money in your bank account even if it has your name on it is not yours, the bank can keep it forever if they want, or the government can steal it but the same does not happen with bitcoin.

For me there are many advantages of bitcoins and one of this is it is easy to earn. There are lot of things to do in order to earn bitcoins without investment and this is by joining signature campaign in this forum, joining bounty campaign and do translation. Your only capital is your time and hard work in order to earn bitcoins.

There are many advantages of bitcoin like one can gather the knowledge related to bitcoin if someone want to hire someone they can use this forum for doing so. And the bitcoin as a currency is very profitable those who have bitcoin the can easily send money to everyone in the world where the internet connection is available and because of this many investors are investing in the crypto market.

The excess of bitcoin is composed of an ever-increasing, decentralized, anonymous value. We can count on bitcoin trading as the main livelihood.

I agree with your opinion. but most importantly the bitcoin value continues to increase, and that's a big advantage.

many advantages in bitcoin theres you can easy to earn you  can manage your own time you are the boss.. and even you are in the house you can earn un the way of bitcoin...

Bitcoin has many advantage. But for me its advantage is that bitcoin helps me to earn money and make an income.

It is an easy way to earn money and safe to invest that will increase better than the banks because pricing of bitcoin is going up from time to time.

Bitcoin provides convenience to the fullest for every people in the society. At the same time they kill some time allotted for manual procedures and paperwork’s, which is a big help for the everybody’s life.

You earn money without investing.You can play and earn.
Good investment platform

According to an article I recently came across, these are 20 advantages of Bitcoin:

1.   Anonymity
This is one of the main benefits of using Bitcoins. When you make payments through your bank account, these are usually easy to track and have identification marks. On the other hand, Bitcoin transactions are hard to identify. Hence, those who transact with Bitcoins gain knowledge of the addresses through which payment is received or sent.
2.   Private transactions
Bitcoin transactions remain anonymous as well as private. The transactions only come with sender’s Bitcoin addresses that reflect the transactions in someone’s Bitcoin account. The addresses cannot be traced back to an individual. It is akin to tracking a payment that has come to a bank account, but you will not gain information about the person who has sent the payment.
3.   Freedom of payment
There is much freedom when it comes to making payments through Bitcoins. One can send Bitcoins to anyone in the world. One is not limited by banking hours of operation or payment limits.
4.   No intermediaries
This is another advantage of using Bitcoins for making payments. As there are no intermediary parties involved, such transactions happen instantaneously and with less delay. There might be lagging due to conversion from one form of currency to another, but usually intermediary agents are not involved in Bitcoin transactions.
5.   Minimal or low fees
There are hardly any transaction fees that are involved in Bitcoin transactions. Usually processing fees are low or minimal. In case one wishes to get instantaneous transfers there is a low transaction fee that comes in. As there are no intermediary parties involved this also eliminates the need for transaction fees.
6.   Security for merchants
Merchants who use Bitcoin transactions usually benefit in many ways as these transactions are irreversible and secure and do not contain personal or sensitive information of the customers. Merchants are protected from charge backs that can be fraudulent or losses that often result from fraud.
7.   Fast transactions
The transactions using Bitcoin are usually faster if you compare the same with traditional banking transactions. A transaction in Bitcoin can be fast as done in ten minutes, similar to sending of an email. There are zero confirmation transactions that happen instantly when merchants take the risk of accepting transactions that are yet to be confirmed by the Blockchain of Bitcoin.
8.   No dependence on governments
The paper currencies that we use are dependent on the monetary policies of a country’s central government. They are given a certain value, but currency notes could be demonetized and at such situations, these notes would not have value at all. Unlike paper currency notes, Bitcoins are not centralized currencies. This is a crypto-currency that is recognized and accepted in digital money markets. In many markets, regions and places it has legal status and can be exchanged in return for cash as well.
9.   Security of information
There is no personal or financial information that can be stolen from Bitcoin transactions. Most people who make online transactions through credit or debit cards or bank accounts usually risk having their private information exposed and stolen.
10.   Secure transactions
The transactions that happen with Bitcoin are usually with a private and a public key. The public key is visible to anyone but the private key owned by a user is a secret. A transaction of sending Bitcoins is done by combining private and public keys together, which creates a unique certificate that is proof of the transaction.
11.   Unaffected by inflation
As Bitcoin is a crypto currency, it is unaffected by inflation factors, unlike how paper currencies get affected by inflation and monetary policies of the government.
12.   Creating Bitcoins
Similar to how governments can print currencies, a user can use Bitcoin mining software to gain more Bitcoins for themselves. This is a unique technology and a method that is not available with other currency modes.
13.   As a crypto currency
Bitcoin is a crypto currency whose legitimacy is maintained with Blockchain. It is a way of ensuring evidence of the Bitcoin transactions which is done by a decentralized network of computers where records of the Bitcoin transactions are maintained and are irreversible records. It is akin to an electronic ledger that connects different parties in an integral and trustworthy manner as well as maintains records of transfer of Bitcoins in a genuine and legitimized manner.
14.   Secure transaction records
With Blockchain technology Bitcoin transactions are recorded in a secure manner. This is done by generating a sequential chain of digital keys that are cryptographic in nature.
15.   A unique trading platform
Bitcoin and Blockchain facilities trade between two or more parties as Bitcoins are safe and secure as well as legitimate while Blockchain maintains records of the different transactions that take place.
16.   Efficiency for businesses
Transactions are settled between two or more parties in a fast manner as there are no intermediaries involved. Smart contracts can be triggered automatically that can make commercial transactions fast and as per contract terms.
17.   Ease of auditing
Transactions of Bitcoins are registered with Blockchain technology for which records are created that are sequential and cannot be reversed. Hence, the audit trail exists when two parties transact with Bitcoins and this exists forever.
18.   Ease of tracking
Even though Bitcoin transactions are anonymous and private, these are easy to use to track goods which can be advantageous for a commercial supply chain process.
19.   Transparency
The unique blend of secure and anonymous transactions with Bitcoins recorded in a legitimate and indelible way by Blockchain makes such transactions transparent which can be beneficial in commercial transactions.
20.   Feedback benefits
As all transactions with Bitcoin are recorded with Blockchain, an asset’s movements and its life cycle can be traced easily in different stages like shipping, warehousing, decommissioning and so forth.

The above points showcase the different benefits that one gets by using Bitcoin and Blockchain technologies.

Yes i agree on that bitcoin is really many advantage than using any other coin because bitcoin today has  a really great demand in the market and it has really a big capability to rise up in the near future because it has a good feedback in all investors  and it really works maybe some people didnt know bitcoin yet but i believe there are more believer than who did not believe because bitcoin is really amazing.

Here are the some best Advantages:
payment Freedom
Low fees
It's fast
No Taxes
No Third-Party Seizure
Fewer risks for merchants

Advantages
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.