Topic: The advantages of bitcoin - page 27. (Read 2220 times)
Bitcoin is a crypto-currency. You can send and receive bitcoins without giving out your info. You can have different addresses for every transaction. It's secure, fast. Once you send someone bitcoin you can't reverse it. You can see all the transactions happening on block chain. It's valuable, its price is increasing right now. So people are investing their money. You can google it to be more sure. And to receive and send bitcoins, you need bitcoin wallet.
2.Making rich to everyone
3.No taxes
5.Not risky to invest for my own thoughts
3.No taxes
5.Not risky to invest for my own thoughts
I think you are wrong. A lot of people think that Bitcoin will make them rich. That's not necessarily true, Bitcoin might collapse due to for example a critical bug which wouldn't be fixed on time. Most people treat Bitcoin as an investment, every kind of investment is risky. You might lose a lot of money if you continue to be that ignorant. No taxes? I don't know where you live then. You have to pay tax once you cash out. Transactions between BTC addresses are impossible to tax, for now.
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.
There are lots of advantages with bitcoin and one of its advantages is it is not so hard to earn. A lot of ways here that really earn bitcoin that is if you really search for it. Bitcoin is also easy to transact, easy to send and easy to receive. You will not find it hard to do wherever and whenever you are. 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.
With the advantages you have posted, I find it reasonable, but only one thing is that the transaction fee of Bitcoin is low at present is no longer true. Bitcoin currently has some significant disadvantages besides the advantages of high transaction fees and transaction processing time is not fast anymore, sometimes it takes 2 days to complete the transaction.
Of course bitcoin has many advantages, with bitcoin we can transact quickly to the rest of the world, with bitcoin we can get extra income very well, and with bitcoin economic growth increases. Things get better with bitcoin, that's what I feel so far.
The advantages of bitcoin are:
The very expensive electricity cost to mine you know no one will dump it below their cost.
The very expensive electricity cost to mine you know no one will dump it below their cost.
How do you know that? It's not that there is an average cost of mining one whole Bitcoin. It depends on so many variables, that one miner may just spend like $1000 in resources to mine one whole Bitcoin, where others are more closer to $3000 (figures mentioned are meant to function as example). If a miner needs liquid resources, then it may choose to sell under its own cost price, and I wouldn't be surprised to find out that it happened more often than most of us here realize. On top of that, their sales don't affect the actual market since most of their coins end up being sold to private buyers off-exchange, which is an important difference....
i think and i believe there are a lot of advantages of bitcoin, but what i think is more significant is that bitcoin is changing the landscape of social structure, it should be seen as a post structuralism, because before we believe and think that society should be "govern" and ruled in one side model, which of course create hierarchy and power over people, but the concept of bitcoin which is private, everybody take part in controlling, accepting and approving is a kind of a new model for our next society.
there are a lot of advantages of bitcoin it proc=vied a jobs to the people and its transitions are also very fast every day new people are joining bitcoin because of its great services and can make yourself rich with bitcoin in a short time.
There's a lot of advantages of bitcoin and two of these are the financial freedom that it gives and the easy way in buying something. Bitcoin now is accepted as a means of payment in many stores in different countries. Bitcoin also gives you financial freedom just like me I don't experience now any financial difficulty because of the help of bitcoin.
The main reason behind the creation of bitcoin was to enable large transaction across the world at very low rates without keeping person waiting for days. But then bitcoin n started to gain value and at the moment, the biggest advantage of bitcoin is its ability to rise really high within short span allowing the holder to gain huge profits by investing very small money. Anonymity is also the reason for its large usage in the digital world. 
There's a lot of advantages of bitcoin and two of these are the financial freedom that it gives and the easy way in buying something. Bitcoin now is accepted as a means of payment in many stores in different countries. Bitcoin also gives you financial freedom just like me I don't experience now any financial difficulty because of the help of bitcoin.
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.
Yes I agree on your point, but bitcoin is not completely secured because it can still be hacked by someone. I may add some advantages of bitcoin, as we all know bitcoin is the first decentralized cryptocurrency ever existed. It opens for a very unique way of trading experience.This virtual currenct is not regulated by any banks just as the word decentralized implies,no banks are holding just like what you have said. The good thing about this being decentralized is it can be accepted everywhere and anywhere in the world. No regulations from banks and government, so this one can be a risk in bitcoim because it can be used as a way to corruption. 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.
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.
The advantages of bitcoin as my observation are1.The ultimate higher of value price
2.Making rich to everyone
3.No taxes
4.Volatile movement
5.Not risky to invest for my own thoughts
i think and i believe there are a lot of advantages of bitcoin, but what i think is more significant is that bitcoin is changing the landscape of social structure, it should be seen as a post structuralism, because before we believe and think that society should be "govern" and ruled in one side model, which of course create hierarchy and power over people, but the concept of bitcoin which is private, everybody take part in controlling, accepting and approving is a kind of a new model for our next society.
there are a lot of advantages of bitcoin it proc=vied a jobs to the people and its transitions are also very fast every day new people are joining bitcoin because of its great services and can make yourself rich with bitcoin in a short time.
I've read that article in 2014 if I'm not mistaken, and I think there are changes in the advantages of bitcoin at this time, for example, the fee is now very expensive different at that time because that time the price of bitcoin is still low.
The advantages of bitcoin are:
The very expensive electricity cost to mine you know no one will dump it below their cost. Second, so difficult to get new technology to go thru it will be very difficult for one person or party to change it. Third, use only for store of value.
The very expensive electricity cost to mine you know no one will dump it below their cost. Second, so difficult to get new technology to go thru it will be very difficult for one person or party to change it. Third, use only for store of value.
i think and i believe there are a lot of advantages of bitcoin, but what i think is more significant is that bitcoin is changing the landscape of social structure, it should be seen as a post structuralism, because before we believe and think that society should be "govern" and ruled in one side model, which of course create hierarchy and power over people, but the concept of bitcoin which is private, everybody take part in controlling, accepting and approving is a kind of a new model for our next society.
Peer to peer transfer. Is the biggest advantage of bitcoin around the world
actually there are many advantages of bitcoin to specify here in this threads and im only going to specify the highlights. If bitcoin is being centralized these are the possible advantage
1. it is easy to make transaction because it will be done online and queuing will be minimize or will be erdicated.
2. theives could not detect you bringing bulky of money in your pocket since you are just bringing yourself and your phone wherein your money is being secured and converted as digital currency after purchasing it.
3. you can travel around the world without the hassle of going to money exchanger for they will not accept money coming from other countries except those money changers.
4. you use your digital currency in every establishment where you will going to purchase products or goods and even pay the service being rendered to you.
5. btc will use and transfer to relatives that needed your financial support especiallly if you are the breadwinner and working abroad. there will be no bank with trnasferring btc so therefore low transaction fees to be expected.
and many more.
1. it is easy to make transaction because it will be done online and queuing will be minimize or will be erdicated.
2. theives could not detect you bringing bulky of money in your pocket since you are just bringing yourself and your phone wherein your money is being secured and converted as digital currency after purchasing it.
3. you can travel around the world without the hassle of going to money exchanger for they will not accept money coming from other countries except those money changers.
4. you use your digital currency in every establishment where you will going to purchase products or goods and even pay the service being rendered to you.
5. btc will use and transfer to relatives that needed your financial support especiallly if you are the breadwinner and working abroad. there will be no bank with trnasferring btc so therefore low transaction fees to be expected.
and many more.
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.
The advantage of bitcoin is you dont need to work under the sun to earn money like construction workers, you only need talk to people and persuade them to buy bitcoins.
Bitcoin itself is an advantage to all people who have trust on it. Because it provides great profit and change many lives like giving an opportunity to less fortunate one. And that is an advantage of bitcoin for me.
The advantages of bitcoin is that it help us to earn extra income, it helps also jobless people to earn money its like giving opportunity to the people who are less fortunate because it helps to provide money.
From what i see, with bitcoin anyone, from any country, of any age can accept Bitcoins within minutes. There is no ID card, passport or proof of address that all conventional banks required to open an account. All you need to do to start sending and receiving Bitcoins is to download a Bitcoin Wallet program and generate a Bitcoin Address.
Yes, I agree. Bitcoin has many advantages that benifits the user. It is accessible, you only have to do is that to an internet access. Bitcoin is also investing without any profit that's why lay people can join even a college student also. That's bitcoin is reliable in some instances.Jump to: