Topic: This is why bitcoin is unique. (Read 699 times)
Crypto is the future of money.
If not crypto where will you get such an offer or deal, yet still people don't have eyes for all these. All they know is to badmouth all the good things BTC and others coins are doing for the world. We care less about what they think about our world they will one day join us
Transfer of more than 1 billion, US dollars, and a commission of 0.7 cents.
Which bank will allow you to do as well?
That is why bitcoin is a great creation.
https://www.blockchain.com/btc/tx/b36bced99cc459506ad2b3af6990920b12f6dc84f9c7ed0dd2c3703f94a4b692
Which bank will allow you to do as well?
That is why bitcoin is a great creation.
https://www.blockchain.com/btc/tx/b36bced99cc459506ad2b3af6990920b12f6dc84f9c7ed0dd2c3703f94a4b692
Nice, definitely a great plus that doen't really impact the mayority of people, but still, is nice to have the possibility there
I wouldn't want to transfer that kind of money any other way for that exact reason. I don't like the idea of paying someone something insane like 3% of all my millions of $$$
Not even for massive amounts. Even for smaller amounts, it is much better than traditional methods of payments. I won't ever turn back to fiat other than being forced to use it for certain things.
But I am always grateful for when I can use it and take full advantage.
Not even for massive amounts. Even for smaller amounts, it is much better than traditional methods of payments. I won't ever turn back to fiat other than being forced to use it for certain things.
But I am always grateful for when I can use it and take full advantage.
I find other aspects more interesting like the one that the million dollars OP is talking about can be transferred immediately with alsmost no delay. I know that if you really want to get those dollars you'll need to sell BTC and then transfer those dollars to a bank or an ATM but even this whole operation will still take less time and be less costly than a traditional international bank transfer.
Also nobody will know that you've transferred BTC to someone. For me it's important but think how important this is for big businesses that don't want anybody to know who they're paying and for what.
Also nobody will know that you've transferred BTC to someone. For me it's important but think how important this is for big businesses that don't want anybody to know who they're paying and for what.
Do not be a surprise this could be one of those high influential tech giant owners that will always paint crypto bad publicly both go underneath to hodl huge amount of dollars in bitcoin. No way you can transfer such huge amount of money in banks without paying a huge fees and this is one of the benefit of using crypto. You get to pay little to move big money
Transfer of more than 1 billion, US dollars, and a commission of 0.7 cents.
Which bank will allow you to do as well?
That is why bitcoin is a great creation.
https://www.blockchain.com/btc/tx/b36bced99cc459506ad2b3af6990920b12f6dc84f9c7ed0dd2c3703f94a4b692
That shows the level of freedom that Bitcoin can give you. With the use of Bitcoin you are able to do whatever amount of transaction you want to do and not have any problem with anybody. But, try using other payment methods and you will start getting serious questions on why you're sending such an amount, the next thing you're filling a paperwork. That's if you will ever be able to carry out that amount of transaction at once. So, Bitcoin gives you a lot of freedom, though some people tend to misuse the freedom they are given.Which bank will allow you to do as well?
That is why bitcoin is a great creation.
https://www.blockchain.com/btc/tx/b36bced99cc459506ad2b3af6990920b12f6dc84f9c7ed0dd2c3703f94a4b692
I guess when we make use of lightening network and segwit kinds of development everywhere by more number of people then fees required for such big transactions may come lower to be considered like 0%. Those such days are not far away, expect them to experience in real soon.
One of the reasons why I chose to save money in the form of bitcoin, because the transfer fee is very cheap. Unlike the banks that have
more expensive transfer fees. So bitcoin is quite effective in making transfers between countries, fast and cheap. Then no wonder bitcoin
is very favored by wealthy people or whales. It can be seen on the blockchain network that many whales transfer from one wallet to another.
more expensive transfer fees. So bitcoin is quite effective in making transfers between countries, fast and cheap. Then no wonder bitcoin
is very favored by wealthy people or whales. It can be seen on the blockchain network that many whales transfer from one wallet to another.
No bank will allow for this huge amount of money with such lower cost where bitcoin is great to be transfered with very lower cost. But this is not only the cause for uniqueness of bitcoin but also many other causes. Such as...
1. Banks provide different obligations to transfer money from one country to another but bitcoin has no obligation.
2. Bitcoin has no govt. intervention.
3. No third party engagement in bitcoin transaction that is impossible in Bank.
4. Bitcoin is very fast to transfer. It can be transferred from one part of the world to another part within few moments.
5. Besides bitcoin transaction is transparent, anonymous, non-repudiable and high portability.
That's why bitcoin is unique.
1. Banks provide different obligations to transfer money from one country to another but bitcoin has no obligation.
2. Bitcoin has no govt. intervention.
3. No third party engagement in bitcoin transaction that is impossible in Bank.
4. Bitcoin is very fast to transfer. It can be transferred from one part of the world to another part within few moments.
5. Besides bitcoin transaction is transparent, anonymous, non-repudiable and high portability.
That's why bitcoin is unique.
Thats a big difference of crypto and bank fees. With bank you need to verify a lot of documents and ID before can make this huge deal. Typical of a centralized system but bitcoin has total advantage on what OPs topic. But this decentralized have also has a negative side since if huge illegal syndicate used this process to transfer funds easily and even drug money.
So we cant be sure if decentralized is really a perfect grip for financial services. Bank are just scared of losing to blockchain but someone must have a solution to its other effect. I'm thinking why the Government are so strict, but you can understand them as these risks are also associated with the usage of a decentralized blockchain.
So we cant be sure if decentralized is really a perfect grip for financial services. Bank are just scared of losing to blockchain but someone must have a solution to its other effect. I'm thinking why the Government are so strict, but you can understand them as these risks are also associated with the usage of a decentralized blockchain.
I’m pretty sure banks can facilitate special ‘deals’ for high-volume customers in their platforms, but even those require money to get done. Bitcoin eliminates the need for paying such high fees to the third-party and just process the transaction regardless of the amount and who sent what. One of the most beautiful merit of bitcoin that has always been overlooked by many thinking that any other money transfer services can do the same.
Bitcoin eliminates entire banks, to be more specific on that, and all other third party services. Why to pay for something you can do by yourself, from any place as long as you have internet connection and device of course? It's old one, be your own bank! And with crypto in general you can a lot more than just a bank, specter of possibilities with blockchain is endless.
Bitcoin is unique for more reasons, not just that you can transfer money (small or big amounts) with the same fee, and you can adjust your fees, depends on do you wish faster or slower transaction. Bitcoin is unique because it can be counterfeited, you can't mess with explorer and change blocks as you want! And this is a simplified version, I think we can add a lot more about bitcoin and it's uniqueness.
And in the end it's nice when you can handle your things by yourself, with bitcoin you can do that!
Transfer of more than 1 billion, US dollars, and a commission of 0.7 cents.
Which bank will allow you to do as well?
That is why bitcoin is a great creation.
https://www.blockchain.com/btc/tx/b36bced99cc459506ad2b3af6990920b12f6dc84f9c7ed0dd2c3703f94a4b692
It saves a lot than doing a fiat transfer and it makes sense at all so people could appreciate it. Which bank will allow you to do as well?
That is why bitcoin is a great creation.
https://www.blockchain.com/btc/tx/b36bced99cc459506ad2b3af6990920b12f6dc84f9c7ed0dd2c3703f94a4b692
A good creation will have a good result also but somehow especially some government authorities never give that consideration instead of looking for a negative result. I know there is nothing wrong with that but it only gives a reason for them to close their mind and out from welcoming new opportunities that Bitcoin can do and make it better.
I’m pretty sure banks can facilitate special ‘deals’ for high-volume customers in their platforms, but even those require money to get done. Bitcoin eliminates the need for paying such high fees to the third-party and just process the transaction regardless of the amount and who sent what. One of the most beautiful merit of bitcoin that has always been overlooked by many thinking that any other money transfer services can do the same.
I saw it in cointelegraph, I don't know if I should believe this but this even is actually a breakthrough for me that cryptocurrency especially bitcoin is a new revolution and should not be considered an "Alternative" payment method but should be universal currency for transactions.
Usually, payment fees are high considering the distance where a transaction will be processed but with a huge amount of money, this is indeed something to look forward for a person who uses traditional mode of payment.
I just don't understand why we need to consider network congestion in transaction, sometimes fees are high, sometimes low. If it will be fixed, an assurance of more transaction will happen.
Usually, payment fees are high considering the distance where a transaction will be processed but with a huge amount of money, this is indeed something to look forward for a person who uses traditional mode of payment.
I just don't understand why we need to consider network congestion in transaction, sometimes fees are high, sometimes low. If it will be fixed, an assurance of more transaction will happen.
A transaction like that in a bank in my country. The bank puts the magnifying glass on the customer. We have many limits to withdraw and there is where the problem originates, in addition to high commissions.
Of course, such small transfer fees are one of the main advantages for Bitcoin. The wider the possibilities for exchanging bitcoin in the future, the wider it will be distributed among the general population.
After all, transfers are made by almost all people, and as a rule through banks, there are essentially no alternatives, only payment systems. Nevertheless, everywhere you have to pay a fee.
After all, transfers are made by almost all people, and as a rule through banks, there are essentially no alternatives, only payment systems. Nevertheless, everywhere you have to pay a fee.
Awesomely awesome, what I really saw that prompted me to joined the cryptocurrency community was the charging fees which has generated much reactions. The higher the amount been transfer the lesser the amount charge for transactions. This actually made the Bitcoin a unique technology among all other financial institutions across the globe. Hope to see more lesser fees for the lower transactions too.
Transfer of more than 1 billion, US dollars, and a commission of 0.7 cents.
Which bank will allow you to do as well?
That is why bitcoin is a great creation.
https://www.blockchain.com/btc/tx/b36bced99cc459506ad2b3af6990920b12f6dc84f9c7ed0dd2c3703f94a4b692
Which bank will allow you to do as well?
That is why bitcoin is a great creation.
https://www.blockchain.com/btc/tx/b36bced99cc459506ad2b3af6990920b12f6dc84f9c7ed0dd2c3703f94a4b692
Lemme start by saying that 0.7 cents transfer fee is for a high gwei; it could be sent for just 0.3 cents.
Bitcoin is a perfect example for digital payment : quick fast concise and does not need any documentation.
It's really a unique feature of bitcoin, whales can move around and freely in the ocean without any hindrances.
Transactions don't need any requirements, which means even you're transferring a million worth of money, it's not a big deal.
That's why people are still using and having faith in bitcoin, much essential than banks.
Transactions don't need any requirements, which means even you're transferring a million worth of money, it's not a big deal.
That's why people are still using and having faith in bitcoin, much essential than banks.
That's the main reason why crypto remains the king of all banks. Her transactions doesn't requires much protocol before delivering. You can run your millions dollars transactions at your leisure period without involving anybody.
Jump to: