The advantages that Bitcoin offers are already in other emerging alt coins. They even have better features in actuality. The only real advantage that Bitcoin has is its popularity since it is the first go-to coin for people who want to start with crypto.
I agree with you that Bitcoin attracts investors because it is the first digital currency. But its value is also an important factor that makes investors pay attention and invest in it. The high level of fluctuations that make investors more profitable is also an advantage for Bitcoin.
Topic: The advantages of bitcoin - page 23. (Read 2220 times)
I believe that bitcoin and the cryptocurrency as a whole, aimed at one thing - to get away from mediation. And so far, everything is just being formed, it is possible to earn good money. The first take everything, all the rest - everything else.
The advantages that Bitcoin offers are already in other emerging alt coins. They even have better features in actuality. The only real advantage that Bitcoin has is its popularity since it is the first go-to coin for people who want to start with crypto.
I agree with you that Bitcoin attracts investors because it is the first digital currency. But its value is also an important factor that makes investors pay attention and invest in it. The high level of fluctuations that make investors more profitable is also an advantage for Bitcoin. For me, the advantage of bitcoin right now is it can make the transation easier and faster due to no physical appearance of money needed. Also, many people considered it as a good investment so I can considered it also an advantage of bitcoin.
yes, bitcoin can make transaction easier and faster also safe and secure. especially give earn for jobless
Advantages of bitcoin are free on government taxes and has a higher value compare to any cryptocurrency and real government currency, it has also a large contributions of income to the living people who access bitcoin, bitcoin also has a advantages when it comes to chances, because bitcoin business has a lot of chances that gives to the people on how to become millionaire.
Biggest advantages of bitcoin are:
1. Bitcoin can be access in other countries, it is digital currency means their is no paper work. All you need to do is to have a btc wallet and you will be able to send and receive btc.
2. The other good in bitcoin is it's highly appreciating value day by day is its getting higher.
3. Financial freedom in because bitcoin is a decentralized currency means their is no administrator to control it.
1. Bitcoin can be access in other countries, it is digital currency means their is no paper work. All you need to do is to have a btc wallet and you will be able to send and receive btc.
2. The other good in bitcoin is it's highly appreciating value day by day is its getting higher.
3. Financial freedom in because bitcoin is a decentralized currency means their is no administrator to control it.
yes I agree, bitcoin doesnt need administrator in country to control it. its transactions no detected.
There are a lot of advantages in bitcoin. For example, you don't need to go to the banks and do a lot of paper works to do transactions. You just need to access bitcoin and then it you can now transfer money as easy as that. Second, you can earn bitcoin through signature campaigns. Which may help people to have some incomes. And also bitcoin will help you to learn new knowledge by reading forums. Bitcoin help us a lot in many kinds of ways. 
One of major advantage of bitcoin is, it's make online transaction more easier, with bitcoin you can buy products and make payment without any bottles neck, also bitcoin is a source of extra income, bring about financial freedom.
I agree all what mentions. Btc is more advantages to negotiate some business or doing transactions in crypto by individual. Sometimes everything will not go according to the flow it happens somehow that everything seems uncontrollable. The advantages turn to disadvantages.
The advantage of bitcoin, you dont need to work under the sun to make money, you dont have salestalk your customers to earn money, in bitcoin you just have to invest or post to earn money.
I like bitcoin because, it is very advantages to all transaction and very users friendly..like payments bills and other transaction and very low service fee. it is very fast and reliable. And interms of investment its very advantegeous because you can gain a lot of profits. Unlike physical money its very complicated and risky to bring such big amount of money. And interms of investment in the bank it is very low interest you can gain less amount of profits.
Bitcoin transactions are completely anonymously and private. Unlike in payments through bank, where the transaction can be tracked and identified, Bitcoin transactions cannot be identified. a person can only know the addresses of bitcoin on which the payment has been sent and received. But to whom these addresses belong cannot be identified. it's like payment to a particular bank account can be tracked but to whom these accounts belong cannot be known. ( but if a person uses same bitcoin address for every transaction for a long period of time, there is possibility that the person can be tracked ).
Paying through bitcoins provide us the utmost freedom. Bitcoins can be sent to any person in any part of the world. no intermediaries in between. no bank holiday/strikes. no boundaries or orders. no payment limits.
Paying through bitcoins provide us the utmost freedom. Bitcoins can be sent to any person in any part of the world. no intermediaries in between. no bank holiday/strikes. no boundaries or orders. no payment limits.
With the block chain, all finalized transactions are available for everyone to see, however personal information is hidden.
Your public address is what is visible; however, your personal information is not tied to this.
Your public address is what is visible; however, your personal information is not tied to this.
Freedom of payment - any amount of money can be paid and received instantly and anywhere. No bank holidays, no borders, no imposition. Bitcoin allows its users to completely control their money.
Very low fees - there is no handling charge or very little handling fee for the current payment of bitcoin. The user can include the handling fee in the transaction to obtain processing priority and receive the transaction confirmation from the network faster. In addition, there are merchant processors that help merchants deal with transactions, convert bitcoin into legal tender daily and deposit funds directly into merchants' bank accounts. Because these services are based on bitcoins, they can provide a much lower fee than PayPal or credit card networks.
Reduce the risk of merchants - bitcoin transactions are safe, irrevocable, and do not contain customer sensitivity or personal information. This avoids the loss caused by fraud or fraudulent withdrawal, and there is no need to comply with PCI standards. In places where credit CARDS cannot be used or fraud rates are too high, businesses can easily expand new markets. The net result is lower costs, bigger markets, and less administrative costs.
Security and control - bitcoin users are completely in control of their transactions; Businesses cannot force fees that may or may not be found in other payment methods. Paying with bitcoin doesn't have to be tied to personal information in transactions, which provides great protection against identity theft. Bitcoin users can also protect their money by backing up and encrypting it.
Transparency and neutrality - all information about the money supply itself is stored in a block chain, and anyone can check and use it in real time. No individual or organization can control or manipulate the bitcoin protocol because it is password protected. This makes bitcoin's core believed to be completely neutral, transparent and predictable.
Very low fees - there is no handling charge or very little handling fee for the current payment of bitcoin. The user can include the handling fee in the transaction to obtain processing priority and receive the transaction confirmation from the network faster. In addition, there are merchant processors that help merchants deal with transactions, convert bitcoin into legal tender daily and deposit funds directly into merchants' bank accounts. Because these services are based on bitcoins, they can provide a much lower fee than PayPal or credit card networks.
Reduce the risk of merchants - bitcoin transactions are safe, irrevocable, and do not contain customer sensitivity or personal information. This avoids the loss caused by fraud or fraudulent withdrawal, and there is no need to comply with PCI standards. In places where credit CARDS cannot be used or fraud rates are too high, businesses can easily expand new markets. The net result is lower costs, bigger markets, and less administrative costs.
Security and control - bitcoin users are completely in control of their transactions; Businesses cannot force fees that may or may not be found in other payment methods. Paying with bitcoin doesn't have to be tied to personal information in transactions, which provides great protection against identity theft. Bitcoin users can also protect their money by backing up and encrypting it.
Transparency and neutrality - all information about the money supply itself is stored in a block chain, and anyone can check and use it in real time. No individual or organization can control or manipulate the bitcoin protocol because it is password protected. This makes bitcoin's core believed to be completely neutral, transparent and predictable.
All these and we still lack many things. The bitcoin value is still unstable and we can not use it for routine purposes. I am not sure if you are thinking about this issue on broad sense but I think it is the reality now. Just imagine how many merchants are really their in the world who accepts the bitcoin payment processor right at front desk? You may say thousands of there but I think thousand is not the great number when we talk about the global acceptance of the bitcoin. It has to be far more than that, it must be legal tender everywhere which government doesn't allow yet. Not in the developed countries and neither in the developing countries. I am not saying all the negative stuff about the bitcoin but the thing is these are disadvantages of the bitcoin over the advantages that you have mentioned. We need lot of work to be done yet.
For me, I think that the benefits of bitcoin far outweigh the disadvantages. I can transact anytime, while other forms of banking like even NetBanking pose a time limit for transactions in our country. There is a lot of hassle going through all the formalities to encash cheques in our country, and bitcoin makes it easy for us. Transactions are also much more secure provided we follow certain security practices, and that keeps my mind in a state of peace:P
And yes, you are correct in some points, like bitcoin still has to be universalized, and not many can use bitcoin due to illiteracy, but we should go ahead and focus on the positive side of things.
As for paying for stuff, in UK, USA or China, bitcoin ATMs have been setup extensively, and a lot of small shops, stores and businesses accept BTC too. KFC Canada is also accepting BTC as payment, so adoption is increasing.
On top of all the advantages enumerated herein in this post, the greatest advantage of bitcoin is actually opening a worldwide economy with less interference from the different self interested governments. This is the start of a more connected world where people from different parts of the world and different backgrounds are able to easily connect economically with others. This will be a genuinely big thing in the near future.
Freedom of payment - any amount of money can be paid and received instantly and anywhere. No bank holidays, no borders, no imposition. Bitcoin allows its users to completely control their money.
Very low fees - there is no handling charge or very little handling fee for the current payment of bitcoin. The user can include the handling fee in the transaction to obtain processing priority and receive the transaction confirmation from the network faster. In addition, there are merchant processors that help merchants deal with transactions, convert bitcoin into legal tender daily and deposit funds directly into merchants' bank accounts. Because these services are based on bitcoins, they can provide a much lower fee than PayPal or credit card networks.
Reduce the risk of merchants - bitcoin transactions are safe, irrevocable, and do not contain customer sensitivity or personal information. This avoids the loss caused by fraud or fraudulent withdrawal, and there is no need to comply with PCI standards. In places where credit CARDS cannot be used or fraud rates are too high, businesses can easily expand new markets. The net result is lower costs, bigger markets, and less administrative costs.
Security and control - bitcoin users are completely in control of their transactions; Businesses cannot force fees that may or may not be found in other payment methods. Paying with bitcoin doesn't have to be tied to personal information in transactions, which provides great protection against identity theft. Bitcoin users can also protect their money by backing up and encrypting it.
Transparency and neutrality - all information about the money supply itself is stored in a block chain, and anyone can check and use it in real time. No individual or organization can control or manipulate the bitcoin protocol because it is password protected. This makes bitcoin's core believed to be completely neutral, transparent and predictable.
Very low fees - there is no handling charge or very little handling fee for the current payment of bitcoin. The user can include the handling fee in the transaction to obtain processing priority and receive the transaction confirmation from the network faster. In addition, there are merchant processors that help merchants deal with transactions, convert bitcoin into legal tender daily and deposit funds directly into merchants' bank accounts. Because these services are based on bitcoins, they can provide a much lower fee than PayPal or credit card networks.
Reduce the risk of merchants - bitcoin transactions are safe, irrevocable, and do not contain customer sensitivity or personal information. This avoids the loss caused by fraud or fraudulent withdrawal, and there is no need to comply with PCI standards. In places where credit CARDS cannot be used or fraud rates are too high, businesses can easily expand new markets. The net result is lower costs, bigger markets, and less administrative costs.
Security and control - bitcoin users are completely in control of their transactions; Businesses cannot force fees that may or may not be found in other payment methods. Paying with bitcoin doesn't have to be tied to personal information in transactions, which provides great protection against identity theft. Bitcoin users can also protect their money by backing up and encrypting it.
Transparency and neutrality - all information about the money supply itself is stored in a block chain, and anyone can check and use it in real time. No individual or organization can control or manipulate the bitcoin protocol because it is password protected. This makes bitcoin's core believed to be completely neutral, transparent and predictable.
All these and we still lack many things. The bitcoin value is still unstable and we can not use it for routine purposes. I am not sure if you are thinking about this issue on broad sense but I think it is the reality now. Just imagine how many merchants are really their in the world who accepts the bitcoin payment processor right at front desk? You may say thousands of there but I think thousand is not the great number when we talk about the global acceptance of the bitcoin. It has to be far more than that, it must be legal tender everywhere which government doesn't allow yet. Not in the developed countries and neither in the developing countries. I am not saying all the negative stuff about the bitcoin but the thing is these are disadvantages of the bitcoin over the advantages that you have mentioned. We need lot of work to be done yet.
For me, I think that the benefits of bitcoin far outweigh the disadvantages. I can transact anytime, while other forms of banking like even NetBanking pose a time limit for transactions in our country. There is a lot of hassle going through all the formalities to encash cheques in our country, and bitcoin makes it easy for us. Transactions are also much more secure provided we follow certain security practices, and that keeps my mind in a state of peace:P
And yes, you are correct in some points, like bitcoin still has to be universalized, and not many can use bitcoin due to illiteracy, but we should go ahead and focus on the positive side of things.
As for paying for stuff, in UK, USA or China, bitcoin ATMs have been setup extensively, and a lot of small shops, stores and businesses accept BTC too. KFC Canada is also accepting BTC as payment, so adoption is increasing.
The advantages that Bitcoin offers are already in other emerging alt coins. They even have better features in actuality. The only real advantage that Bitcoin has is its popularity since it is the first go-to coin for people who want to start with crypto.
For me the number one advantage of bitcoin is, we can use bitcoin in other country just convert it into a fiat they use right.
Freedom of payment - any amount of money can be paid and received instantly and anywhere. No bank holidays, no borders, no imposition. Bitcoin allows its users to completely control their money.
Very low fees - there is no handling charge or very little handling fee for the current payment of bitcoin. The user can include the handling fee in the transaction to obtain processing priority and receive the transaction confirmation from the network faster. In addition, there are merchant processors that help merchants deal with transactions, convert bitcoin into legal tender daily and deposit funds directly into merchants' bank accounts. Because these services are based on bitcoins, they can provide a much lower fee than PayPal or credit card networks.
Reduce the risk of merchants - bitcoin transactions are safe, irrevocable, and do not contain customer sensitivity or personal information. This avoids the loss caused by fraud or fraudulent withdrawal, and there is no need to comply with PCI standards. In places where credit CARDS cannot be used or fraud rates are too high, businesses can easily expand new markets. The net result is lower costs, bigger markets, and less administrative costs.
Security and control - bitcoin users are completely in control of their transactions; Businesses cannot force fees that may or may not be found in other payment methods. Paying with bitcoin doesn't have to be tied to personal information in transactions, which provides great protection against identity theft. Bitcoin users can also protect their money by backing up and encrypting it.
Transparency and neutrality - all information about the money supply itself is stored in a block chain, and anyone can check and use it in real time. No individual or organization can control or manipulate the bitcoin protocol because it is password protected. This makes bitcoin's core believed to be completely neutral, transparent and predictable.
I agree with everything you said but I also want to add the advantages of bitcoin in our country and one it is that it reduces our unemployment rate and it is decentralized or a peer-to-peer cryptocurrency which means when we have to transmit money to far away places it has cheaper bills than the usual transmittal bill. Very low fees - there is no handling charge or very little handling fee for the current payment of bitcoin. The user can include the handling fee in the transaction to obtain processing priority and receive the transaction confirmation from the network faster. In addition, there are merchant processors that help merchants deal with transactions, convert bitcoin into legal tender daily and deposit funds directly into merchants' bank accounts. Because these services are based on bitcoins, they can provide a much lower fee than PayPal or credit card networks.
Reduce the risk of merchants - bitcoin transactions are safe, irrevocable, and do not contain customer sensitivity or personal information. This avoids the loss caused by fraud or fraudulent withdrawal, and there is no need to comply with PCI standards. In places where credit CARDS cannot be used or fraud rates are too high, businesses can easily expand new markets. The net result is lower costs, bigger markets, and less administrative costs.
Security and control - bitcoin users are completely in control of their transactions; Businesses cannot force fees that may or may not be found in other payment methods. Paying with bitcoin doesn't have to be tied to personal information in transactions, which provides great protection against identity theft. Bitcoin users can also protect their money by backing up and encrypting it.
Transparency and neutrality - all information about the money supply itself is stored in a block chain, and anyone can check and use it in real time. No individual or organization can control or manipulate the bitcoin protocol because it is password protected. This makes bitcoin's core believed to be completely neutral, transparent and predictable.
We are also lucky to have bitcoin. Bitcoin is for knowledgeable people but even if you are not knowledgeable about the new technology any users can still use bitcoin.
The advantage of bitcoin it is a good in a long term investment beacuse the prize of bitcoin is not a stable they have posibility that your investment become double.and bitcoin is profitable in a short period of time and they have a lot of users change the lifestyle through bitcoin and also bitcoin have no taxes in my country so i claim my profits full.
This is really I like when using bitcoin then converted into fiat and no tax collected by the government. The adoptation by many people into bitcoin because they can earned money from bitcoin. This opportunity really good to all of us, also using this bitcoin to make transactions is one of a good advantages that most likes. The advantage of bitcoin it is a good in a long term investment beacuse the prize of bitcoin is not a stable they have posibility that your investment become double.and bitcoin is profitable in a short period of time and they have a lot of users change the lifestyle through bitcoin and also bitcoin have no taxes in my country so i claim my profits full.
This is really I like when using bitcoin then converted into fiat and no tax collected by the government. The adoptation by many people into bitcoin because they can earned money from bitcoin. This opportunity really good to all of us, also using this bitcoin to make transactions is one of a good advantages that most likes.
The advantage of bitcoin it is a good in a long term investment beacuse the prize of bitcoin is not a stable they have posibility that your investment become double.and bitcoin is profitable in a short period of time and they have a lot of users change the lifestyle through bitcoin and also bitcoin have no taxes in my country so i claim my profits full.
I think bitcoin has many advantages that other currencies do not have. Bitcoin active dam set up. bitcoin direct payment transactions. Bitcoin is not administered by any country. It has high security, simple payment quick.
yes, i think. bitcoin very easily and fastly, direct payment transactions and safety.
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