Topic: This is why bitcoin is unique. (Read 788 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.
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
Yup, that's one thing that's unique with cryptocurrency when compared with other payment methods we have. Other payment methods always have a limit to how much you can send at a time and receive. If it's in the bank that you try to make a transfer of 1 billion USD, you will have a lot of questions to answer and papers to fill out and I believe the fees will be high. And you can't make such a transaction with PayPal, and no other transaction methods can help you do this.Which bank will allow you to do as well?
That is why bitcoin is a great creation.
https://www.blockchain.com/btc/tx/b36bced99cc459506ad2b3af6990920b12f6dc84f9c7ed0dd2c3703f94a4b692
But with Bitcoin, nobody tells you what to do, you're the boss and you have complete control over your money, you say how much goes in and out.
Yeah, it's cool, but you can't really advertise Bitcoin with this alone. Just try to tell people on the streets that Bitcoin allows you to move billions without any additional verifications and for low fee - most people will scratch their head and ask "why would I need that? I don't have billions of dollars". So, if you talk about this, it's important to point out that this is an example of censorship resistance and decentralization, and $1 or 1 billion - it's all the same for Bitcoin's protocol.
That's not how advertisement works, the way you advertise it is very literal and people are really not that knowledgeable and have no idea on bitcoin. We can use billboard to advertise it in roads, we can create seminars for those who are interested to have a big income or profit. People nowadays are still ignorant about the benefits of bitcoin in their community, they are not seeking some information on how it works so that they can also experience manipulating it to have an income. I know it is not hard to push bitcoin into mass adoption but that what makes bitcoin unique, it can move huge amount of money easily without any hassle. People also need to understand and go with the flow with the bitcoin protocol.
It seems to me that if the problem of scalability of bitcoin is solved, then this cryptocurrency will be indispensable for the entire cryptocurrency market as a means of payment, a valuable asset for investments and international currency for international trade. In addition, it is very important that when using Bitcoin, no one can abuse it like governments do by printing new money. Perhaps one of the most important values of bitcoin is its limited amount.
I doubt that "the problem of scalability of bitcoin" will ever be solved. The core protocol should remain unchanged so that the level of security it provides wouldn't fall significantly. The core blockchain of bitcoin is not suitable for everyday payments, but it's perfect for storing a value. When one use any asset as store of value, this asset is not moving whatsoever. Basically, bitcoin transactions will be used as final settlements like it's happening now in Lightning Network. Eventually, fees will be higher because most of everyday transactions will propagate off chain, but final settlements and rare movings of value should serve as incentive for miners. 
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
And this is what people should learn specially those Constantly using banks for their transactions.If they will only learn about this great benefits i am sure transferring here is what they will do instantly.Which bank will allow you to do as well?
That is why bitcoin is a great creation.
https://www.blockchain.com/btc/tx/b36bced99cc459506ad2b3af6990920b12f6dc84f9c7ed0dd2c3703f94a4b692
Imagine 7cents/for 10 digits transfer?amazing lol (how i wish one day i will have same transfer
)Bitcoin is one of the best cryptos in the world. Yes, lower transfer cost is one of the features of Bitcoin but there are more other advantages of it. That's why it is unique.
Not one of the best crypto but The Best Crypto In the World legendary
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eXch.cx - Automatic crypto Swap Exchange.
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.
Which bank will allow you to do as well?
That is why bitcoin is a great creation.
Low fees isn't the feature that makes bitcoin special neither is the rate (speed) at which this transactions are been process. One can easily create a zero fee digital currency with the speed of transaction 10x times better than that of bitcoin but still won't new able to outshine bitcoin because if the uniqueness of the cryptocurrency.
Bitcoin's decentralized operation in a peer2peer system is what makes it special. The fact that you can transfer the billions highlighted in the OP yet stay anonymous without needing any third-party to process the transaction but do it yourself right from the comfort of your phone/laptop (home) is what makes bitcoin special.
There are a lot of transfers in the past that is already this much and this is the reason why bitcoin is the best when it comes to global transfers and other transactions. We can't stop people from criticizing it but let them be, as people grew fond of bitcoin, people are opening themselves into accepting it and using it as such. As that continues more business groups, companies and even small businesses would consider to accept and use it.
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
https://www.blockchain.com/btc/tx/b36bced99cc459506ad2b3af6990920b12f6dc84f9c7ed0dd2c3703f94a4b692
The decentralization and flexibility that comes with the usage of cryptocurrency is sweet. The core features of bitcoin is breaking the long chain of intermediaries involved in the traditional financial system and i can tell you that thia transaction as well as other ones done in the past has seen to the achivement of that goal. If you're to make such a huge transaction thorough the FIAT and the traditional system, you'll have to pass through lots of legal intermediaries and third-party and i guess that's what makes it more secure than the cryptocurrency and other decentralized digital currency. Every advantage and flexibility comes with a price and i think the price paid by cryptocurrency is security as you can just wake and see that biilion dollar turn to few millions as well the wallet/exchange can get compromised leading to loss of such a big amount of money
I can imagine the transaction fee that would have come along with this transaction if it had been done in fiat currency. Ever since I got to know about cryptocurrencies I just realized that fiat is a failure to enhance easy transactions among people. This transaction would have taken a week or more for any bank to process especially if he was saving with them.
It seems to me that if the problem of scalability of bitcoin is solved, then this cryptocurrency will be indispensable for the entire cryptocurrency market as a means of payment, a valuable asset for investments and international currency for international trade. In addition, it is very important that when using Bitcoin, no one can abuse it like governments do by printing new money. Perhaps one of the most important values of bitcoin is its limited amount.
Indeed, bitcoin is unique since bitcoin is lower fees than other. Also bitcoin is decentralized and don't use third party from the transaction. And then the supply is limited, only 21 milions bitcoin in worldwide.
This is the basic understanding why bitcoin is unique and valuable. I really interested about bitcoin because from that's point.
This is the basic understanding why bitcoin is unique and valuable. I really interested about bitcoin because from that's point.
Extraordinary indeed, that is what makes me wonder when there are still people who are concerned about fees when fees might increase due to unstable market behavior, and even when I don't have a lot of bitcoin in my wallet and at the same time fees increase, I still don't mind about fees which are increasing or are only slightly increasing than usual. So I think it doesn't matter as long as the transaction process is safe and quickly resolved so that's something to be proud of from bitcoin and its technology.
Yeah, it's cool, but you can't really advertise Bitcoin with this alone. Just try to tell people on the streets that Bitcoin allows you to move billions without any additional verifications and for low fee - most people will scratch their head and ask "why would I need that? I don't have billions of dollars". So, if you talk about this, it's important to point out that this is an example of censorship resistance and decentralization, and $1 or 1 billion - it's all the same for Bitcoin's protocol.
I guess because it was the first cryptocurrency and a lot of cryptocurrency are just a copy or they are trying to copy this bitcoin which is unique and also in my opinion already have the demand from the community.Bitcoin has a lot of virtues that makes it unique. Someone can gain and earn so much money. Someone can make their time and effort productive. Using bitcoin someone can buy goods, there are establishments nowadays that are already accepting bitcoin as their mode of payment. But still some countries are not yet accepting cryptocurrency. They have importance in their current currency and think of it effectively more than cryptocurrency. Through bitcoin we can make our society better and can build a lot of friendships and colleagues.
The really interesting thing to look at is how many of these, Bitcoin and other crypto currencies are there, that cut a few commissions for billion dollar transactions, which are never possible in a country's bank, you see in all countries. Bkash, there are 10 dollar transactions - 0.20 $ Fee is deducted, which is a lot, which is not possible to make a large transaction, and look at the other - as in the case of Skrill Dollar transactions. You have to pay 1.4% VAT on your transaction, so if you are trying to make 100000 Usd transaction then how much money will you deduct from your account,
Transaction Amounts = 100000 Usd
Transaction Fee = +1.4% Usd
-----------------------------
Total= 101400 Usd
1.4% = 101400 USd, which means you have to pay them 1400 usd Transaction fee. However, in the case of Bitcoin is only 0.7usd, so if you are trading through Bitcoin Coinbase or via email then you do not have to pay any Transaction fee. That is why you understand why Bitcoin is called Unique. How much more is the reason yai Bitcoin will discuss aa case that the other day.
Transaction Amounts = 100000 Usd
Transaction Fee = +1.4% Usd
-----------------------------
Total= 101400 Usd
1.4% = 101400 USd, which means you have to pay them 1400 usd Transaction fee. However, in the case of Bitcoin is only 0.7usd, so if you are trading through Bitcoin Coinbase or via email then you do not have to pay any Transaction fee. That is why you understand why Bitcoin is called Unique. How much more is the reason yai Bitcoin will discuss aa case that the other day.
Are you guys going to support a bank that as a digital currency investment option? We don't have that yet in my country, I know there are already banks that is operating with crypto somewhere in Europe that's why I'm curious on how are they going to earn with those currency because trading cost is visible to investors right? can't wait to see banks going bankrupt lol.
No one asks ordinary people whether or not to support something, banks are powerful enough to initiate such laws that will allow them to sell and store crypto funds from their clients. This has just happened in Germany, where there are dozens of banks that have shown interest in taking their share of the cake when it comes to crypto. It is logical that if they cannot defeat the idea of Bitcoin, that they try to make money on it.
As good as it may seem at first, buy BTC at a bank and then leave it to the same bank for safekeeping just doesn't make sense to me. Because it's just like buying through some crypto exchange, and then using that same exchange as a wallet.
On the other hand, BTC will gain more legitimacy if banks include it as part of their services, and it will certainly be easier for some people to invest in that way.
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I have used several times to make transactions to people I know in other countries and it’s way too cheap compared to when I go to the bank to do such a transaction; Western Union, MoneyGram and the rest of them will charge you high fees. But with bitcoin I just fund my wallet, and quickly send the money to them.
That's what makes BTC unique. We can make transfers in large numbers, without limits, without complicated terms and regulations as in conventional systems, and without territorial boundaries and without additional admin fees. As long as we are able to maintain security and give our best efforts for it, BTC is a good choice compared to conventional systems today. See? if we only fixate on the negative side, then we will not be able to enjoy the positive side and benefit from it. I have used several times to make transactions to people I know in other countries and it’s way too cheap compared to when I go to the bank to do such a transaction; Western Union, MoneyGram and the rest of them will charge you high fees. But with bitcoin I just fund my wallet, and quickly send the money to them.
That’s why you’re being told that bitcoin gives you freedom. What you can’t do with most other payment methods, you can achieve them with Bitcoin easily. Lots of other payment methods wouldn’t allow you to make such a transaction, and those that will allow you will end up charging you too much fees that will discourage you lol. That’s the good thing with having a decentralized currency.
I have used several times to make transactions to people I know in other countries and it’s way too cheap compared to when I go to the bank to do such a transaction; Western Union, MoneyGram and the rest of them will charge you high fees. But with bitcoin I just fund my wallet, and quickly send the money to them.
I have used several times to make transactions to people I know in other countries and it’s way too cheap compared to when I go to the bank to do such a transaction; Western Union, MoneyGram and the rest of them will charge you high fees. But with bitcoin I just fund my wallet, and quickly send the money to them.
Bitcoin is one of the most profitable things we have because it lessens the transaction fee and this is good well to us because like if you are trying to make the transfer for over 5k dollars of bitcoin over the other wallet, it does not require too much transaction fee most of the time it consumes more or less over five dollars just a few, and this is what I like in bitcoin also you can use the bitcoin to other kinds of stuff because there are a lot of stores today accepting the use of bitcoin payment just sending the address or just scanning the barcode and immediately it is directed to their funds as payment
That's true, the scalability of BTC transactions amount to little in comparison to what it might have been using regular fiat. The fact is, that BTC isn't the only one that's unique, in my opinion, cryptocurrency in general provides us with unique ways to optimise and increase financial efficiency
What could it be?
Is it a whale or an exchange?
That is all that lingers in my mind now.
Well, if they are making bitcoin for a good usage then why not.
But I doubt it is a whale. Yeah, may an exchange.
See, that is all I can think of when looking at those large numbers.
Is it a whale or an exchange?
That is all that lingers in my mind now.
Well, if they are making bitcoin for a good usage then why not.
But I doubt it is a whale. Yeah, may an exchange.
See, that is all I can think of when looking at those large numbers.
What is even better is the fact that in such transactions, banks earn 0% and this is what bothers them the most. These greedy bastards certainly do not sleep peacefully because they are aware that there is a financial system that completely bypasses them and that they have not been able to destroy it despite ruling the world from their ultra expensive penthouses somewhere in the clouds.
Are you guys going to support a bank that as a digital currency investment option? We don't have that yet in my country, I know there are already banks that is operating with crypto somewhere in Europe that's why I'm curious on how are they going to earn with those currency because trading cost is visible to investors right? can't wait to see banks going bankrupt lol. I hope that the individual(or company),sent the bitcoins to the right receiving address.
Address 1Kr6QSydW9bFQG1mXiPNNu6WpJGmUa9i1g is connected with Bitcoin.de, CoinPayments, Huobi, Xapo, Bitrex, and I guess this is some big player moving coins around.
I'm more wondering which bank allows you to transfer such amounts without asking you what you're moving them for. And I'm sure none does But I think billionaires negotiate with banks. Otherwise, the commissions would be insane when moving billions of dollars - 0.01% commission is $100k for every billion moved, now imagine if billionaires had our fees..
But even if the bank negotiated fees to 0.0001%, the fees would STILL be high as hell ($1k)!
If anyone is interested: the fees that were paid for moving $1.08B represent 0.00000007% of the sum.
But I think billionaires negotiate with banks. Otherwise, the commissions would be insane when moving billions of dollars - 0.01% commission is $100k for every billion moved, now imagine if billionaires had our fees..But even if the bank negotiated fees to 0.0001%, the fees would STILL be high as hell ($1k)!
If anyone is interested: the fees that were paid for moving $1.08B represent 0.00000007% of the sum.
I hope that the individual(or company),sent the bitcoins to the right receiving address.
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I don't want anyone to suffer from a loss of billions but I wouldn't mind having a more scarcer BTC by +150k coins lost in the void!~
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I also hope that this isn't some crypto whale billionaire,who is currently selling all his bitcoins for fiat.
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That comes with a big opportunity for some to buy. If years ago I was afraid someone would massively sell, today I see it as a massive opportunity for buyers & investors. I also hope that this isn't some crypto whale billionaire,who is currently selling all his bitcoins for fiat.
~
What is even better is the fact that in such transactions, banks earn 0% and this is what bothers them the most. These greedy bastards certainly do not sleep peacefully because they are aware that there is a financial system that completely bypasses them and that they have not been able to destroy it despite ruling the world from their ultra expensive penthouses somewhere in the clouds.
Address 1Kr6QSydW9bFQG1mXiPNNu6WpJGmUa9i1g is connected with Bitcoin.de, CoinPayments, Huobi, Xapo, Bitrex, and I guess this is some big player moving coins around.
I hope that the individual(or company),sent the bitcoins to the right receiving address.
Address 1Kr6QSydW9bFQG1mXiPNNu6WpJGmUa9i1g is connected with Bitcoin.de, CoinPayments, Huobi, Xapo, Bitrex, and I guess this is some big player moving coins around.
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
I hope that the individual(or company),sent the bitcoins to the right receiving address.
I also hope that this isn't some crypto whale billionaire,who is currently selling all his bitcoins for fiat.
Yeah,the transaction fee is ridiculously low,but the blockchain hasn't been stuck with lots of pending transactions.I'm not familiar with the bank fees,when it comes to sending large sums,but the fee must be somewhere around 0,5% of the entire sum.
Earning bitcoin without takibg a risk is very worth.
It is easy to decide to exchanging bitcoin into a fiat money.
Not only bitcoin is unique. Other main coin also that are accepted in an app where you can use cryptos in transaction for eload .
It is easy to decide to exchanging bitcoin into a fiat money.
Not only bitcoin is unique. Other main coin also that are accepted in an app where you can use cryptos in transaction for eload .
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Which bank will allow you to do as well?
That is why bitcoin is a great creation.
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This is why some of the rich people are supporting Bitcoin because you can transfer huge amounts of money with only a small amount of fee and without sharing their personal information. Which bank will allow you to do as well?
That is why bitcoin is a great creation.
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Bitcoin and banks are unique in their own way for me. We know already that banks are the ones who is being used by most of the people worldwide since not that many are using crypto. Either way, this will not help in advertising crypto or attract people to use crypto instead of banks because they don't know how to do it and they are more convenient if they will just transfer their money thru banks instead of crypto but time will come that more and more people will be using crypto to transfer money to other people.
Bitcoin currency is unique compared to fiat currency ,for example paper money this is probably that this is not for a long term period there is a possibility that it will be broken and stolen and it would also performing some characteristic of dirt and bacterium from hands of different people day by day basicly Bitcoin is absolutely free from hazard and away from risky even more volatility whereas it is a digital currency for a new world and it's suitable to used .
Bitcoin is the pride of crypto currency and obviously I agree it's unique, we can clearly understand how is leading crypto currency provides potential benefits to it's users.
Mobile access is making us more convenient and obviously we can avoid traveling to buy product or many stuff additionally any transfers in bitcoin happens very quickly, Bitcoin facilitates us in many ways and I am sure it's going to rule the world in few years.
Mobile access is making us more convenient and obviously we can avoid traveling to buy product or many stuff additionally any transfers in bitcoin happens very quickly, Bitcoin facilitates us in many ways and I am sure it's going to rule the world in few years.
I'm fairly sure it's possible for billionaires to make 0 fee transfers between banks. That being said, tere are much more interesting features of Bitcoin:
- Its fixed and immutable money supply.
- Its pseudonymity.
- Its censorship resistance. You don't need anyone's permission to participate.
- Its digital, you can theoretically store a wallet in your head.
- etc.
Third is like freedom in other words, and I feel like that would encourage even the Gen Zs to put their money here in crypto so that they're free to buy anything with truly their own money without having to worry any other online methods that requires KYC verifications. - Its fixed and immutable money supply.
- Its pseudonymity.
- Its censorship resistance. You don't need anyone's permission to participate.
- Its digital, you can theoretically store a wallet in your head.
- etc.
It is easier to transfer funds with the help of the bitcoin because it is secured at the same time it has low transaction fee, and this is the reason why the people most of the time used to transfer their funds if you move your finds in the back at that vast amount it has a substantial cost too, so it is good also to make the transaction with the help of it. There are a lot of benefits with the use of bitcoin like today there are a lot of stores accepting the use of bitcoin as payment, and this is an excellent adaptation they can now make a massive change by this kind of technology innovation.
This can save cost in large quantity. Maybe companies in the future will use bitcoin for their transaction. Companies always compete to use and create inovations in order to save cost and increase value. This Bitcoin uniqueness is a solution for them. Although there are some misunderstanding among the comunity about bitcoin that usually used for money laundring but in fact, bitcoin is the money that has the highest level of transparancy in history. I hope all government will allow companies to use bitcoin as payment method.
i dont believe of such stable demand . people also sells and people also quits on btc but there are also enters so it simillars to unstable just like its price .
also we missed the part that btc can go down upon sending or transfering your btc but this isnt a problem anymore because the value of btc can always regain but what important here is that you can transfer huge sums in a less hassel way plus you also save a tons of fees compare to when using other money transfer methods .
Once again when you're operating with bitcoin and transfer it freely without a permission of your bankers, you don't need to care much about price fluctuations whatsoever. You just sent online a big amount of valuable asset with almost zero fee amount and more importantly you had even less amount of issues sending it. This fact itself makes this asset more valuable than any government money ever created. Once you started to use bitcoin because of its valuable qualities then stick to it and continue to use it without exchanges to fiat money that can be controlled, inflated, debased, confiscated and manipulated through increase of supply. Who cares about short-term and temporary volatility of bitcoin when everything else is way worse? also we missed the part that btc can go down upon sending or transfering your btc but this isnt a problem anymore because the value of btc can always regain but what important here is that you can transfer huge sums in a less hassel way plus you also save a tons of fees compare to when using other money transfer methods .
Transfer of more than 1 billion, US dollars, and a commission of 0.7 cents.
actually this (paying low fees) is only one of the reasons why bitcoin is unique, and a small reason at that.
a much more important reason, for example in this case, is that you don't have to answer to anyone or rely on anyone to move your own money. if it were a bank you'd have to jump through a lot of hoops to get the funds moving and answer a lot of things about why where and what you are going to to do with the money to a lot of authorities.
And at the same time, before the transfer gets confirmed, your 1 billion USD worth of Bitcoins could suddenly become a few hundred million less. While it's true that Bitcoin has quite a few upsides, you can't deny that there are some intrinsic advantages to fiat that Bitcoin can't match. I'm not dissing Bitcoin or anything but when the market isn't regulated and backed by anyone, Bitcoin would remain this volatile for a very long time.
You missed that part about fiat when your billion of dollars are slowly losing its value and you can't stop this, you even can't use these dollars as store of value. You think that dollar is stable, but its stability is merely delusion. When demand for dollars increases, the FED enlarges supply, which means regulated and backed for you. Demand for bitcoin is not stable right now, it can fluctuate throughout a day, but supply remains the same, no one can control it and produce more in response of increased demand. Thats why bitcoin is volatile, it is discovering a price until adoption is finally spread enough for stable demand. i dont believe of such stable demand . people also sells and people also quits on btc but there are also enters so it simillars to unstable just like its price .
also we missed the part that btc can go down upon sending or transfering your btc but this isnt a problem anymore because the value of btc can always regain but what important here is that you can transfer huge sums in a less hassel way plus you also save a tons of fees compare to when using other money transfer methods .
Bitcoin is one of the most profitable things we have because it lessens the transaction fee and this is good well to us because like if you are trying to make the transfer for over 5k dollars of bitcoin over the other wallet, it does not require too much transaction fee most of the time it consumes more or less over five dollars just a few, and this is what I like in bitcoin also you can use the bitcoin to other kinds of stuff because there are a lot of stores today accepting the use of bitcoin payment just sending the address or just scanning the barcode and immediately it is directed to their funds as payment
And at the same time, before the transfer gets confirmed, your 1 billion USD worth of Bitcoins could suddenly become a few hundred million less. While it's true that Bitcoin has quite a few upsides, you can't deny that there are some intrinsic advantages to fiat that Bitcoin can't match. I'm not dissing Bitcoin or anything but when the market isn't regulated and backed by anyone, Bitcoin would remain this volatile for a very long time.
You missed that part about fiat when your billion of dollars are slowly losing its value and you can't stop this, you even can't use these dollars as store of value. You think that dollar is stable, but its stability is merely delusion. When demand for dollars increases, the FED enlarges supply, which means regulated and backed for you. Demand for bitcoin is not stable right now, it can fluctuate throughout a day, but supply remains the same, no one can control it and produce more in response of increased demand. Thats why bitcoin is volatile, it is discovering a price until adoption is finally spread enough for stable demand. 
That's just one part of it tbh, and only a minority would actually acknowledge that fact. Do remember that majority of the people in the world don't even have the chance to actually earn more than a million dollars (Save up). Most of the uniqueness of BTC comes from it being a digital currency, it pretty much gives you anonymity when doing transactions and well, pretty much a lot easier to use compared to fiat. Being decentralized as well gives you quite a lot of freedom when using it.
Right, it may be very convenient for those people who have access to a phone and internet, and to those who have a large sum of money to send. But for those who live day by day, they won't be interested, they will always choose fiat. Unfortunately, this unique and very convenient asset of bitcoin is the very same thing why some governments are not willing to accept bitcoin as a currency. They think they need to regulate it, tax it more, and they also think that it can be easily used illegally.
It's just a matter of time tho imo. Mobile Phones and Internet access are almost considered included to the things that a person must have, though relatively, it has lower importance compared to food,water, clothes and the like, it has higher importance compared to the rest.
For the billions of money they transfer with the ude of the bitcoin the transaction fee is very high but the bank once you process that amount of money they have long proceddue and many requirements and a loy of question before you get your money.
The fee of bank also is very big so that's why many people now are see the advatanges of having bitcoin for investment and also for making transaction .
The fee of bank also is very big so that's why many people now are see the advatanges of having bitcoin for investment and also for making transaction .
Yeah, it's cool, but you can't really advertise Bitcoin with this alone. Just try to tell people on the streets that Bitcoin allows you to move billions without any additional verifications and for low fee - most people will scratch their head and ask "why would I need that? I don't have billions of dollars". So, if you talk about this, it's important to point out that this is an example of censorship resistance and decentralization, and $1 or 1 billion - it's all the same for Bitcoin's protocol.
Right, it may be very convenient for those people who have access to a phone and internet, and to those who have a large sum of money to send. But for those who live day by day, they won't be interested, they will always choose fiat. Unfortunately, this unique and very convenient asset of bitcoin is the very same thing why some governments are not willing to accept bitcoin as a currency. They think they need to regulate it, tax it more, and they also think that it can be easily used illegally.
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
Even though everybody is totally aware about how great Bitcoin is in terms of transferring any amount to another address, but I just cant help but to be amazed how massive those figures are. That went through directly without any questions that banks usually do even with only hundreds of thousand dollars that an individual possessed, but with Bitcoin, nothing is impossible lol.
Who ever owns that wallet surely is one of the biggest fish in crypto space if not the biggest.
If it is a great advantage, as well as if it is done through a bank, the alarms would go off, and they would start looking for the origin of the funds, in Bitcoin not only is the fee low but the transaction is safe and very fast , this is one of the great wonders of the world.
If you have credit cards, the same problem occurs, you cannot make such large transactions because it is most likely that the card will be blocked or will not allow the operation.
If you have credit cards, the same problem occurs, you cannot make such large transactions because it is most likely that the card will be blocked or will not allow the operation.
Bitcoin is very unique just simply because you can easily gain profit if price pumps up but also you must need to know the consequences of it just like for example when the price of dumps
it will automatically deduct your funds that you have buy in the bitcoin so it would be good if you will be knowledgeable about this kind of things.
And also the most essential here is this is a a digital currency in which you can just store money through online no need to go into banks to store money.
it will automatically deduct your funds that you have buy in the bitcoin so it would be good if you will be knowledgeable about this kind of things.
And also the most essential here is this is a a digital currency in which you can just store money through online no need to go into banks to store money.
Beatiful!
And at the same time, before the transfer gets confirmed, your 1 billion USD worth of Bitcoins could suddenly become a few hundred million less. While it's true that Bitcoin has quite a few upsides, you can't deny that there are some intrinsic advantages to fiat that Bitcoin can't match. I'm not dissing Bitcoin or anything but when the market isn't regulated and backed by anyone, Bitcoin would remain this volatile for a very long time.
We have seen bitcoin being used to transfer huge amount so this is not the first we have heard about it.
But yes, this is really one advantage of using bitcoin, (pseudo) anonymous movement of your funds and I would say it is quick as well as compare to fiat wherein it would take days before the banks will clear that billions worth of transfer.
But yes, this is really one advantage of using bitcoin, (pseudo) anonymous movement of your funds and I would say it is quick as well as compare to fiat wherein it would take days before the banks will clear that billions worth of transfer.
That is a uniqueness and advantages possessed by bitcoin, transfer of funds with large amounts still requires a very small fee. Banks will not be able to do the same thing as bitcoin.
But despite that there are many advantages and disadvantages that we need to be aware of. but Remember! Bitcoin has a volatile price nature and can change every second and at any time it can occur.
But despite that there are many advantages and disadvantages that we need to be aware of. but Remember! Bitcoin has a volatile price nature and can change every second and at any time it can occur.
Actually this is only one of the advantages of Bitcoin that we can utylize. And that is not only unique, the use as you mentioned is like a very easy and effective way to transfer money without complicated rules and regulation. Moreover, you can transfer money to the other people in the worldwide without any complicated requirement like in banks. It is faster and more efficient.
Although actually the fee of BTC transaction is still high, but it is not kind of huge problems. For, BTC still offers many advantages.
Although actually the fee of BTC transaction is still high, but it is not kind of huge problems. For, BTC still offers many advantages.
Bitcoin has many virtues and we have not yet seen everything. Bitcoin is for everyone. Today I exchanged Bitcoin for FIAT to buy this week's groceries. I have never seen such a large transaction. Thanks for sharing.
Yeah, it's cool, but you can't really advertise Bitcoin with this alone. Just try to tell people on the streets that Bitcoin allows you to move billions without any additional verifications and for low fee - most people will scratch their head and ask "why would I need that? I don't have billions of dollars". So, if you talk about this, it's important to point out that this is an example of censorship resistance and decentralization, and $1 or 1 billion - it's all the same for Bitcoin's protocol.
I'm fairly sure it's possible for billionaires to make 0 fee transfers between banks. That being said, tere are much more interesting features of Bitcoin:
- Its fixed and immutable money supply.
- Its pseudonymity.
- Its censorship resistance. You don't need anyone's permission to participate.
- Its digital, you can theoretically store a wallet in your head.
- etc.
- Its fixed and immutable money supply.
- Its pseudonymity.
- Its censorship resistance. You don't need anyone's permission to participate.
- Its digital, you can theoretically store a wallet in your head.
- etc.
That's the beauty of BTC and other cryptocurrencies. Many huge transfers like this one has been made from some whales addresses without high fees.
I would have have put it this was since we are dealing in BTC here
"161500.99956979 BTC worth over 1 Billion dollars transferred with a fee of just 0.00010019 BTC worth only 0.7$.
I would have have put it this was since we are dealing in BTC here
"161500.99956979 BTC worth over 1 Billion dollars transferred with a fee of just 0.00010019 BTC worth only 0.7$.
This is why whales are loving crypto or bitcoin in particular. Aside from ease of transfer from one point to another without trouble, they will pay like a dust of fee. Now, if you will use WU or any other remittance centers or even banks, how many days would it take for you to see that money aside from the supporting documents that you need to give them that you have that kind of money? They will ask a lot of questions and they might even freeze your account if you can't provide the source of that money. Now, many thanks for Satoshi for we have bitcoin to enjoy.
That's the beauty of BTC and other cryptocurrencies. Many huge transfers like this one has been made from some whales addresses without high fees.
I would have have put it this was since we are dealing in BTC here
"161500.99956979 BTC worth over 1 Billion dollars transferred with a fee of just 0.00010019 BTC worth only 0.7$.
I would have have put it this was since we are dealing in BTC here
"161500.99956979 BTC worth over 1 Billion dollars transferred with a fee of just 0.00010019 BTC worth only 0.7$.
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
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