Topic: The advantages of bitcoin - page 69. (Read 20534 times)

Using bitcoin is not a priority for me because when you use your bitcoin then it will be gone and it will not comeback to your bitcoin wallet and since the price of bitcoin is volatile, you have some chance that you will regret for selling bitcoin because bitcoin can increase the price significantly and that is why it is not worth it or satisfying to sell bitcoin or even use it. Just keep holding and sell it when the time is right.

what I like most about bitcoin is the convenience given, meaning bitcoin can be easily used whenever and wherever. of course it will give us satisfaction if using bitcoin.

Benefit 1: Decentralized / shared control
This benefit comes in three forms.

First, blockchains allow enemies to work together for a common benefit. It makes blockchains a political tool. Examples include: R3 for banks, or Open Music Initiative for the music labels.

More generally, blockchains can reduce friction in forming consortiums, because the entities involved do not have to give control of the infrastructure to some single entity. So for some contexts, a blockchain is a “consortium database.”

Second, when the network is decentralized and sufficiently open and for anyone to use, then it becomes a new public utility, like electricity, the internet, or the Web. Examples include Bitcoin as an e-money or e-gold utility, Ethereum as a decentralized processing utility, IPFS as a decentralized file system utility, or IPDB as a decentralized database utility.

Third, interoperability protocols can further reduce friction, especially for public networks. If networks interoperate, then which network you’re using matters less. You aren’t necessarily stuck with your initial choice of network. The internet is a network of networks; do you care which sub-network you’re in? Two key protocols are:

Interledger. It connects two networks, even if those networks speak a different language. You can think of it like a well-defined protocol for an exchange. Or, like a router for the internet, but instead of handling just data, it also handles assets. How: escrow in the forward direction from source to target, then release funds backwards. That’s basically it. But it enables easy connection between Bitcoin, Ethereum, SWIFT, BigchainDB, and more.

IPLD (Interplanetary Linked Data). This allows data blobs to flow through the walls of one network to another. It makes the networks permeable. How: an opinionated way to hash the structured data format JSON. That’s basically it. But it means you can initially store your JSON data on, say, IPFS, but know that it can also flow to IPDB or whatever network supports IPLD.

Benefit 2: Immutability / audit trail
When you write data to a blockchain, it’s like etching the data into stone. This could can be used for education credentials (like Recruit), land registries (like BenBen), and more.

If you have a series of transactions over time, you gain an immutable audit trail, which is useful for financial audits, art provenance (like ascribe), food history (like Provenance), and more.

Benefit 3: Assets / exchanges
Once you have a data store that no single entity owns or controls (i.e. decentralized), and no one can change what’s already written (i.e. immutable), then it unlocks the possibility for assets themselves to live on the data store. Put another way: it gives benefits similar to double-entry bookkeeping (less chance of errors, etc.) but much easier to apply.

Yes it is true, the great advantage of bitcoin is it gives additional income for everyone who are involve on cryptocurrency. But aside from that bitcoin also have different feature that everyone loved it. Example are like buying load and paying bills in bitcoin. Its a great help because it make life easy.

There are many advantages of bitcoin. The bitcoin price is the biggest advantages of all. The ways how you can earn bitcoin differently. The privacy of bitcoin you can transact to anyone without any information. You can use bitcoin to buy something in the internet in an uncomplicated way. There are many advantages of bitcoin it’s only depend on you how do you use your bitcoin.

since bitcoins was created to eliminate banks then  we expect for less conflict on our transactions. we can pay our bills online all the time with bitcoins and no need to spend our precious time in falling in line in designated payment center. at the same time as above comment said the bitcoins price just kept on rising so the advantages are more on bitcoins rather than saving your money in a bank or keeping it. less hassle and less effort while earning at the same time if we'll be lucky enough it will make us become rich or richer.

Bitcoin is a very good opportunity to earn money specially for the students who live in india and cannot earn while they are still completing their education. With the help of bitcoin they can be independent. Other than this bitcoin is a safe way of earning with proper security system without any involvement of government.
There are no frauds or hackers.

Bitcoin has many advantage but the most important ones are -
1. Decentralized asset - no central authority can regulate the circulation of Bitcoin. You and only you can control your funds. No intermediate authorities are required for find transfers.

2. PRIVACY - Bitcoin transactions are anonymous. The identity of the sender and receiver is kept secured during the transactions. Privacy of the users is not compromised under any circumstances.

3. GLOBAL PAYMENTS - you can transfer funds from one corner of the world to another at a simple click of a button. A very nominal fees is charged for the transaction.

4. GROWTH RATES - Bitcoin is regarded as one of the fastest growing investment available in this entire world. Bitcoin exhibits tremendous rates of growth and you can expect high returns from your investments made in Bitcoin.

Of all your opinion, I think the most important thing is to be a hope to get a profit so that one day we can be rich. Bitcoin has been proven to make many people become rich and it's time we follow them because bitcoin prices will continue to rise.

the advantages of bitcoin for me is i don't have to work outside our home most especially since i am a fulltime mother of my little children. i enjoyed spending my me time on bitcoin forum rather than just wasting all my me time on social media. in this forum i learned at the same time i earned. and also i still be able to do all my duties for my children.

There are a lot of advantages of bitcoin which are as follows.
1.Bitcion fullfill your basic needs.
2.to earn a lot of money and become rich.
3.fulfill other needs such as tuition fees, sports fees and many others

Even bitcoin is not supported or backed up by the government, it is still available for international uses and that is why it is better to use bitcoin rather than paypal because the fees in bitcoin is cheaper and the transaction speed is fast and bitcoin is not just for payment but also in making money because you can get more money if you will invest in bitcoin like the others already did.

Advantages of Bitcoin:
1. It offers opportunities for someone to be self-sufficient and get rich
2. The work here is easy, it doesn't require much of your time, you can still spend time with your family and loved ones
3. The value of Bitcoin is much higher than the other online works or even banks

The big advantage of bitcoin is a high opportunity to many people become rich instantly, then when it comes to  process of any digital transactions with out any hassle here comes the right way to make 100% guaranteed faster than the present transaction with fiat money. I don't think so for the next many years if gods well hoping all transaction like this will probably applicable and available to all and even in a simply living.

For me there are many advantages of bitcoin, but the most advantage of bitcoin is the increasing price that you can earn a lot of money that you can use or save a lot of money for your future. The popularity of bitcoin, now many company are willing to accept or accepting bitcoin as a payment. The many ways to earn bitcoin, like mining, gambling, trading, investing, blogging, join in the signature campaign’s and etc.

Bitcoins has a number of benefits like its a source of secret trade from which i mean peer to peer like there is no third party involve.in the same way a large number of people are earning through it similarly its a solve unemployment in third world country

well, the statement you mentioned above is an advantage in terms of improving the skill and economy of its users. In addition, let's look in terms of the benefits we can get if making a payment or transaction with bitcoin:
1. Safer
2. No Intermediary Requires
3. Reaching Everyone, Anytime And Anywhere
4. Applicable Wherever
5. You are the Controller

Bitcoin has lot of advantage compare to other currency. Because some currency use only in invirenment but bitcoin can use both environment and digital marketplace. But bitcoin is more on digital marketplace. You can use bitcoin in sending and receiving money all over the world.

Bitcoin is easy to access as we just need an internet connection for it . It provides us a way to earn money .It's price is increasing at a very fast rate so it has become the finest investment plan that provide us huge profits .It provides us the facility of cheap and fast online transactions within and outside the country .Bitcoin is decentralized in nature so government has no control over it .Since there is no control of government over Bitcoin so no tax is imposed on the transactions. These are some advantages  of Bitcoin .

There are many advantages of bitcoin like 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.And yeah You are in control of your money with Bitcoin. There is no central authority figure in the Bitcoin network.