Bitcoin Forum

Bitcoin transfers even between countries on average the administrative costs are very cheap. Obviously more profitable than banking transactions, the administrative costs of which are still expensive.

I hope that all banks can see opportunities for Bitcoin to be utilized. Although I acknowledge the central bank's concern if Bitcoin transactions are used for prohibited matters.

One step that can be done by the Bank is to allow Bitcoin transactions on condition that they have to be registered on a special platform. Later the patform must be accompanied by a central bank permit.

This means that all bitcoin transactions must be recorded by regulators, now there are many illegal bitcoin transactions without permission and without supervision from regulators.

There is one country that can use it, for example in Japan that allows transactions with Bitcoin, even for payments in retail stores.

The government in Japan actually allows retail stores to accept payments via bitcoin. There are 4,000 stores that accept bitcoin payments. So far there are no problems. Even the Japanese government is making its own cryptocurrency.

Bitcoin is definitely cheap in terms of borderless, over-seas transactions(compared to wire transactions and such). The challenge that bitcoin has right now is transactions that are made when purchasing stuff from your local store or something. Yes, fees are quite cheap right now(a few cents to sub $1),but fees should be cheap enough to be used by 3rd world countries; as I'm pretty sure a good number of people from poor countries aren't willing to pay even for as low as $.20 (trust me, I myself is from a 3rd world country). Here's where lightning network[1] comes in. Hoping for a steady increase in development and adoption.

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[1] https://lightning.network/

I agree that Bitcoin can be more efficient than bank transactions. However, the banks have no say in approving Bitcoin transactions. They can only limit or monitor cash conversion to bitcoin and vice versa. That's it. Once you have bitcoins, you can freely transact via the Bitcoins network and the banks can do nothing about it, neither allow them, nor prevent them.

Some are already getting this this about the fees and yet don't want to take the risks full crypto adoption involves, so they offer rather weird solutions. There's a good example, not bank-related, though. IBM will accept blockchain, but only as a mediator. There's a person in some country, selling local fiat for btc and sending it to IBM to purchase stuff. IBM then sells btc for the fiat they prefer. Banks could do the same thing, but I think that requiring ID and fully adopting cryptos is a better solution. It's just that nobody wants to say goodbye to fiat.

It already is better and cheaper. It will only get even better.

This is the very essence of the blockchain and cryptocurrency. The banks killing people with charges. The transfer speed on the network is super fast, and you know what, further improvements are making the speed even faster.

Ego is making the banks and governments not to key into this technology, at least for now.

Bitcoin's big problem is still the difficulty of converting fiat into Bitcoin without needing to rely on a third person. The fee is really high in a lot of situations, but if it's really comparing all the costs involved, it's a lot cheaper.

To use the credit card in a business transaction between people two people from different countries, several fees are paid. And it is necessary to use the services of 2, 3 institutions in the least.

With Bitcoin the transmission is direct, fast, easily identifiable and auditable. Bitcoin will be a breach of the walls between countries long before it is used to pay for a coffee or to be used in a snack machine. A person from Sudan can get a cell phone from a Chinese company without having a bank account. This is how Bitcoin will be the disruptor of the entire banking system.

Bitcoin it is decentralized network and more efficient than the bank translations it is easy and instant transaction so people like bitcoin and many people interested in the bitcoin transaction also it is good and efficient that the bank transactions.

Digital asset based bank debit cards will greatly increase the usability of bitcoins and other crypto currencies through fast fiat/crypto convert options..

The fees are more beneficial for a larger transaction
and international business


For the fear, that is why it is taking time for the regulation that you are talking about.

the word is '' bitcoin is more efficient than that of the bank'' not the other way round. in today's world by and selling with bitcoin has been made easier than it was in the past. the traditional way of the bank today doesn't favor the improvement of this technological age.

If we talk about efficiency then sorry to disappoint you, but banks are more efficient than bitcoin by far, and let me explain you why:

From the source: https://www.quora.com/How-many-transactions-do-typical-banks-process-everyday

We see mastercard have 34000+ transactions/second and visa have 24000+, if we compare that wit bitcoin, we have blocks each 10 minutes with 2500 transactions/second aprox.  So bitcoin now days can't handle yet the high number of transactions we have with banks, That's why i say bitcoin cen't be more efficent than banks, but maybe that will change in the future.

You definitely forget something.

You suggest that people would need to join a website from a bank that has an agreement with the market authority institutions
Bitcoin's purpose is to be free from banks, governments, and you suggest to get this digital currency finally managed/regulated by these same institutions. In this case better to buy a token issued by a bank, it's a just a digital money similar to the scriptural money.

It is more cheaper but more importantly you are in full charge of your transaction no one is doing that for you,you no need anyone's permission to transact anywhere better than the bank transaction right.But I don't know how it is possible to store all your and monitor all the transactions happening in a country maybe it is possible in Japan since it is less populated country but the countries with huge population still can monitor all the transactions?

Bitcoin is the  more efficient than bank transactions, when it comes to international transfer and sending across large amount of money where bank will start asking you some confidential questions which is sometimes annoying, bitcoin transaction is the best substitute.

One of the biggest exchange in our country had already done this. It can save us fees, but it won't always be the case because off chain transaction is limited within the country and to users who use the platform. And using platforms like exchanges to store Bitcoin is not recommended.

The best solution we currently have is already mentioned by mjglqw which is the Lightning Network. There are fees involved, but they won't be expensive than onchain transactions.

I agree Bitcoin will one day replace traditional banking!

More efficient? Not really. Blockchains use huge amounts of redundancy to achieve trustlessness -- that's how decentralization works. The centrally administered databases that power banking transactions can be much faster and use less resources because they sidestep the entire mining and validation process.

It's correct that high-value transactions can be much cheaper than the legacy system -- you can send millions of dollars in value for pennies in fees. But that may not always be true. Fees are expected to rise considerably over the years because they are going to eventually replace the mining subsidy.

There are several problems, first of transaction is cheap, then banks will not earn money, the second is that the price of bitcoin is not stable, and we need to convert fiat to bitcoin and then bitcoin to Fiat (pay fee), the transaction goes ~ 10 minutes, during this time price of bitcoin can change and client or bank will have loss, is not profitable.



This figure can rise if more people will use bitcoin? or it's a technical ceiling?

All the points stated here are facts and everyone agrees 100%on them. We can only wish for the beest of Bitcoin in real life application and until that happens before we can wholly enjoy the benefits of Bitcoin.

It kind of depends on where you are.

In Europe transfers are often free and can be instant between accounts. It's a very different matter in the US which has truly stone age banking in comparison. I don't think Europeans realise how bad it is and why Bitcoin is a bigger deal. A decent part of it is that use for actual banking makes proper sense in a way it doesn't in the EU.

For me it depends upon the situation and the said country. We all know that not all accepted bitcoin so meaning some transactions have big fees. There is no assurance also if we can get a transparency between our transactions.

bitcoin is more evenly distributed than bank transactions, transactions with bank especially when its global, has to undergo exchanges of fiat currency, but with bitcoin, no exchanges needed, as bitcoin is a globally accepted currency.

I completely agree that. We are all expecting that there will be regulation from government or any authority to allow bitcoin transactions. Bitcoin should not be banned, it should be regulated. Banks or government should see the opportunity of bitcoin which is more efficient than official Banks. It would be pretty if bitcoin is allow for any transaction or payment.

If you consider factors such as ease of transactions, speed of transactions, cost of transactions, absence  of restrictions across geographical locations,security etc, bitcoin is certainly the more efficient currency,far better than banks

Yes, of course. Blockchain technology makes our lives easier and more efficient, and safer is peer to peer transactions.

but you must know, that fiat will always be there until the future, and fiat always used by some people who do not know technology. they have difficulty using blockchain technology.

but not in big countries like Japan, Russia, USA and others.

To some extent and people bitcoin is more efficient than bank transaction. The peer to peer transaction. And also the across the board transaction between a residence of two different country kills it all.

I think we can't lie that some hacking occurs on the blockchain system, and that it hurts a lot of people. and that is the fault of a user who is not careful about storing bitcoin assets.

but what's interesting is that bitcoin has many positive values, like easy to use for transactions, we only need gadgets and internet networks that store bitcoin or mastercard balances like debit cards.

Bitcoin is definitely more efficient than bank transactions. Looking at the transaction fees of bitcoin and comparing that to bank transaction fees, bitcoin is relatively cheaper than that of the bitcoin. Also, in terms of how fast the transactions are, bitcoin is faster  than the bank.

Absolutely yes bitcoin transaction is better than banking transaction since it was using a blockchain technology that provides fastest ways of transferring crypto transactions. While banking use a traditional methods of transferring money that's why it takes time to get done or to transact. But we thought we can't deny that sometimes cryptocurrency has a necessary fraudulent activities that's why people can't rely a full trust on crypto world.

Sending a number of funds in the bank will require a fee and requires a third party (the bank as an intermediary), while in the blockchain the shipment is directly or p2p and is recorded on the blockchain without intermediaries so that it saves time and money

There's really a lot going on in your post that many would dwell on technically, and indeed, there is better efficiency with bitcoin if pitted against the bank.

And i won't stretch that much into techie discussions to drive my point through. I'll stick with the status of confirmation of transactions.

For me, the better part of bitcoin is allowing both the sender and recipient to check on the status of the transfer. As we know, once a person deposits an amount to our bank accounts we sit idle at the mercy of the bank to know whether the deposit has been really made already. Not until we see the amount reflected on our account, we are left wondering.

But with bitcoin, the sender can simply send you the transaction reference that is generated immediately upon transfer as a proof that the transaction indeed took place and this spells much comfort and peace of mind. Now all we have to do is continually check for confirmation until the amount has been received.

And for me, that is true efficiency.

Yes ofcourse, but you know it is not only efficient but also it is very convinient compare to banks, that's why I am thinking that banks will be considered bitcoin as their competitor. I hope that someday people realized and recognized that bitcoin is better than banks.

Somehow bitcoin can be more efficient than bank transactions because you do not need to go to the bank, fall in a long line and wait.In bitcoin, you just need to have internet connection to make transactions.

Well for me, Bitcoin can be much more efficient than bank transactions most especially in more upcoming years. Even as of now, I already been agree to this. Why? Because I already been using the Bitcoin and other crypto currencies in some of my dialy financial transactions that gives me an ease, secure and faster way of paying. Well, the Bitcoin has a great potential having a great possibility to become the payment method in the future.

but, errors caused by users, cannot be overcome by Bitcoin while banks, can still help to solve existing problems
each method has its own strengths and weaknesses, so use it as needed

Bitcoin is absolutely cheaper than the bank transactions especially when transferring between countries. And bitcoin is more efficient and faster, the only cause for concern is usually the confirmation time, this can also be dependent on the bitcoin network congestion, the fee used and the nature of wallet sent from. One of the thing one must be careful about is to avoid error as the transactions are irreversible.

Right but Bitcoin isn't mass adopted as banks. This will probably resolved with better cryptos than Bitcoin (like steem, bitshares, eos can manage far more transactions than bitcoin).

The mayor Banks are already working on their own permissioned Blockchain technologies to replace old technologies like SWIFT. <which is used for this intercontinental transfers and settlements between different Banks> They will never use Bitcoin, because they cannot control it.

Also, doing this type of tx's requires stability and less volatility and speed. <Current systems is very slow and outdated, so they will have to improve on that with Blockchain based technologies>

so your reason is that because bitcoin is not mass adopted the banks won't use it.
then you say they will use an altcoin which is also not mass adopted, and not only that it is not even have  1/10000 of bitcoin adoption! does this really make sense to you, or are you just saying random stuff just to name altcoins you have invested in? ;)

Bitcoin could potentially be really big but first we need to overcome certain drawbacks such as security and efficiency. Unless these 2 topics are addressed BTC will never be bigger than any banks.

Bitcoin is unrivaled especially in the instant money transfer process. Actually some of the other crypto money is the same but Bitcoin is more reliable. In addition, cash can be converted anywhere.

Sorry to disagree but for me still the banks are the most efficient. When we use our ATM, PAY PAL, Debit and credit cards instantly do we need to wait for almost 1 hour transaction confirmations for our groceries and shopping? Granted there is charges on credit cards because it is a debt but how bout Bitcoin mining fees? Are they really cheap if we will just spend at least $1 for a cup of coffee? Correct me if i'm wrong but Bitcoin is good for alternative investments but not for actual spending except if you did not bring your cash.

Can you be specific on the security aspect? I'm pretty sure bitcoin is one of the most secure(if not the most secure) networks in current existence. The issue is more on user interface/experience in my opinion. Using bitcoin in a decentralized matter(not using Coinbase, etc) isn't currently easy to use enough for our grandparents.

Going with your opinion which is very interest and advantageous to all crypto enthusiast will lead to total goodbye to all fiat currencies which I believed no government or any bank will ever support as it will render most of the jobless. Second many people are yet to understand what crypto is all about, we need common man understanding crypto to carry out this assignment.

In the area of a transaction, we almost depend on a particular department which cosum our time and we know time is money that we are wasting in the procrss of bank transactions compare with the bitcoin transactions. In this time bitcoin obviousy an effective way of day to day business.

Even now the bitcoin transactions were much cheaper which only cost about you $0.1 or even less for most of the transactions but it will be increased when the blockchain network has more unconfirmed transactions but in future there will be more developed transactions with much lesser fees than now will be available.And more over ou no need to enter any details just copy paste the address and you can make transaction in simple tap.

Satoshi Nakamoto, the inventor of bitcoin, titled his original white paper on the subject "A Peer-to-Peer Electronic Cash System." This description touches. By contrast, credit card transactions entail the buyer effectively authorizing the seller to 'pull' a payment from their account, passing through several financial intermediaries in the process. For example, a typical Visa transaction involves four parties: the merchant, the acquirer (the financial institution that enables payments to the merchant), the issuer (the card holder's bank), and the individual cardholder.When making a bitcoin transaction, it is not necessary to provide personal identification information such as your name and address. Bitcoin transactions are made using an anonymous alphanumeric address that change with every transaction and a private key. Payments can also be made on mobile devices by using quick response (QR) codes.

Bitcoin installments are closely resembling a wire exchange or money exchange, where installment is 'pushed' straightforwardly starting with one gathering then onto the next, without experiencing another budgetary organization Bitcoin is based on peer-to-peer technology,Bitcoin transactions are made using an anonymous alphanumeric address that change with every transaction and a private key.

Why not than? Itr is easily assumed that in the process of bitcoin transaction people no need to go to a agency to compleate the transaction. On the other hand, bank transaction is totally depends on a particular agency. So bitcoi is very much effective.

yes, i think so. Bitcoin is more efficient than bank transactions because it provide high speed transaction.

The purpose of bitcoin is to make faster transactions around the world and its already happening, but of course there’s a lot of things that needs to be improve so we can be more successsful in the future. I believe on bitcoin and I know this technology will become more valuable in the future.

As bitcoin is easy to transfer and here people do not need to wait for someone who have finished the transaction, it is effective for everyone. bank transaction is a very leanthy way for what people like me like to use bitcoin in our day to day transaction.

To me, the efficiency of Bitcoin and the bank is in my opinion. Because Bitcoin is fast in the digital market and a lot of risk. The bank payment is relatively slow but the risk is not.
So, I think the efficiency of Bitcoin and banks is almost the same.

Hello, if you all the different fees that are invented by bank for overseas transfert, I’m definitively sure that BTC use is cheaper than banks. But I also think that more effort need to be done and new improvements could be done, lightning network for example that will ensure that it will definitively be cheaper and usable by everybody in all countries. Because even if it is cheaper it is not cheap for everybody !

This can only happen if the bitcoin key technologies is improved on.
This is will make bitcoin transactions more efficient.

In recent time peoples are not satisfied by doing bank transaction because bank charges are lot. That’s why people are wants to invest their money on bitcoin because it is a profitable project.

We all know bitcoin is a decentralize project and everyone can transaction with bitcoin. The main factor is peoples are earning profit from bitcoin. That’s why i think bitcoin transaction is more popular and efficient than bank transaction.

BTC is better than banks. And not just in a sense that it is cheaper, also because we are the one in charge and that we do not need any third party involved in it to make the transactions or exchanges.

I agree to your proposal. It's high time now and Bitcoin needs to be introduced in the banks for transaction purpose. If some sort of regulation are applied, then the illegal transactions can be stopped.

That's an unique idea. But I doubt if regulations on cryptocurrency is possible or not. Because cryptocurrency runs on decentralized system.

Actually, you are right. By regulating cryptocurrency, illegal transactions can be stopped. Banks can utilise this method and support cryptocurrency based transaction.

BTC is already a better and cheaper and a more convenient means of transferring money. And the fact that it runs on a decentralized system is what makes the market more efficient.

I think that btc is the best coin ever and it is really more efficient than bank transactions which not always meet expectations today. I think that the use of btc will be faster and more reliable than banks

Givent hat the banks run a centralized system and BTC runs on a decentralized one has already made it into a better alternatoive than banks. Plus it is a less expensive way in terms of the fees compared to banks.

Of course. The greatest advantage of BTC is that you don't have to depend on the bank system and their servers. Btc is available 24/7 and it never needs a coffee break or a holiday. It doesn't need time for maintenance. My online bank prompts me once every 2 months about a scheduled maintenance and it usually takes the site down for the whole night. What if I had something urgent going on like a huge business deal at that point? BTC gives you comfort you never had before.

Banks have no control over bitcoin transactions. They can only create a wallet and want people to use that wallet for sending their coins. But it will be always possible to access to the blockchain using other wallets. They cannot force people to use their platform. They cannot stop the transactions that are made without using their platform.  

Bitcoin itself is relatively new so adopting it to the extent of banking would be very difficult. Third world countries' people tend to be a bit behind and something as new as crypto would definitely be something they would not prefer compared to traditional banking methods. Bitcoin transactions would need to be more streamlined and more simpler for the average person to utilize it as normal bank transactions go. It could be adopted, but it would take time and a new platform for it to be widely accepted.

To an extent bitcoin efficiency is greater than bank transactions... But still there are various logistics involved

I concur that Bitcoin can be more productive than bank exchanges. Notwithstanding, the banks have nothing to do with endorsing Bitcoin exchanges. They can just farthest point or screen money transformation to bitcoin and the other way around. That is it.

It depends on what kind of banking transactions are involved. Banks perform various functions that bitcoin can not perform. As for the implementation of the transaction, it is true that bitcoin is more efficient than the banks used to be. Previously, banks used the outdated SWIFT method to transfer funds and, with the advent of blockchain technology, they began actively switching to the use of ripple crypto currency, which provides money transfers to any point of the globe in a matter of seconds.

Bitcoin's enormous issue is as yet the trouble of changing over fiat into Bitcoin without expecting to depend on a third individual. The expense is extremely high in a lot of circumstances, however in the event that it's truly contrasting every one of the costs included, it's a ton less expensive.

The blockchain technology provides a fast, cheap, secure, decentralized and transparent means of transferring funds.
In NY opinion it is more efficient than bank transactions and would most likely be adopted by the banking sector in the near future.

It is less expensive yet more vitally, you are in full charge of your exchange nobody is doing that for you, you no need anybody's consent to execute anyplace superior to anything the bank exchange right.It is the better option than banks.

Bitcoin is more effective thanbank transfer already ,its faster and easier .it will still take time if not years before it can be recognized generally over the world and the fully used as means of payment in everyday transactions.

Bitcoin is better than bank transfer in many aspects. It is decentralized which makes it faster and cheaper than traditional bank transaction. Still i think it need more developments in future.

Supposedly, bitcoin can be more efficient than bank transactions. Because, it's one of the goals of the creation of bitcoin. And I believe, one day such things will be realized

Yes I agree with it because it transition system is better than banking system. Banking system is a lengthy process also it varies different types of process. Bitcoin system is transparent and it can easily transfer currency .

Yes, it may be more efficient, but it tends to have a higher risk of being exposed to fraud because we do not have any data with whom we transaction, so I think BTC is indeed more efficient in place of time and cost. but it will not be safer than transactions in a conventional bank

Bitcoin is gaining popularity because it has beaten the performance of bank transaction. Still bitcoin need a well amount of transaction fees. I think if it going to be reduced bitcoin will be more accepted.

Cryptocurrency especially bitcoin have made something unique in transaction. For this people now want it globally accepted. Additional development like LN can make it more efficient than ever and increase popularity.

Actually still the economic unbalance among the developed, developing and under developed countries doesn't allow all to come into the investment of crypto. People may want to have the benefit of cheap oversea transactions but the entry level barrier is still a bt high for poor countries. About the efficiency there is no doubt.

Bitcoin is already more efficient than bank transactions and also it is very easy to use for the people. That’s why day by day user of bitcoin is increasing and more people are getting interested on it.

The most important part of bitcoin is it’s giving you complete freedom. You can make transaction from anywhere and you don’t need any kind of permissions. And also the way of its transaction is easier and cheaper than banking transaction.

Bitcoin transaction is more efficient than bank transactions. When you need to sent large amount of money or to sent on other countries then bitcoin is the solution because it won’t make trouble like the traditional system.

"I also think bitcoin is more efficient and reliable than bank transactions. Because there are
many people in the world who do not have access to bank accounts and some people are
even denied when opening an account but in bitcoin no need any permission to use it.
"

"I totally agree with you that Bitcoin is better because there are many banks where need to
limit purchases and withdrawals with daily spending limits. But in bitcoin, there is no limit
for spending.
"

"Bitcoin is not a debt that's why bitcoin is more efficient I think. Because the entire banking
system of a fractional deposit is a huge debt bubble that resembles a complicated
scheme.
"

I think that this is true, bitcoin and blocking are more reliable than the banking system

Furthermore, from numerous points of view, bitcoin offers favorable circumstances that fiat cash doesn't: It's difficult to send $10,000 in real money abroad; however you can send the proportionate sum in bitcoin in not more than minutes.

Bitcoin exchanges are irreversible and can just be discounted by the getting party - a key distinction from charge card exchanges that can be dropped. A charge-back is the request by a Visa supplier for a retailer to cover the misfortune on a fake or debated exchange.

Satoshi Nakamoto, the designer of bitcoin, titled his unique white paper regarding the matter "A Peer-to-Peer Electronic Cash System." This depiction addresses the center contrasts amongst bitcoin and Mastercard exchanges.

Yeah it is true that Bitcoin can be better option for cross-border transactions because of its ability to make cheaper transactions. Sometimes more secured and free transactions can be operated easily

Well I believe in coming years there will be more crypto platforms than centralized banking platforms for transactions of currency over among different counties and it will be more convenient for all of us

There is no doubt that Bitcoin is cheaper and it provides enormous freedom while transacting between two people. But it will be hard to beat the centralized system in terms of security. I hope this gets better in crypto

Bitcoin is really great in terms of financial transactions than Banking and any other fiat monetary system. This cause much less time and afford to make any financial transactions. I guess people will accept BTC gradually because of this.

As there is no administration cost required, BTC and many other cryptocurrency offer much more efficient transaction facility than any other Bank. Japan is one the examples that has made reliable use of BTC transaction.

Cryptocurrency offers many advantage over traditional monetary system and Bitcoin being the best crypto in the market is quite effective to make transaction cost cheap. Other countries should use BTC like japan.

Yes banking administrative costs is way more expensive than the bitcoin transactions.Each and every bank should use cryptocurrency and it will be very helpful for mango people.Every country should follow Japan too.

Its easy now to transact worldwide because of cryptocurrency. This can be more efficient that using the banking system. This is a growing technology that everyone will enjoy soon. We will see cryptocurrency in every countries, operating well to improve the lives of mang people.

Thats very sure and even it is very efficient than bank transactions now. You can do it at anywhere in your comfort zone and even watch your transaction status.

yes I agree with this point that bitcoin transaction is much more efficient than the banks system. but most of the people still have much more faith over banks cause it has huge familiarity over the investors, so now we can hope that people will soon realized bitcoin importantnce and accept it

With how blockchain was built I think its one of the best means to make transactions more efficient. When people all over the world accepts btc banks will now start to adopt the blockchain because of its efficiency.

yes this a very true fact but unfortunately people still consider bank as more trustable than bitcoin trading cause they have been using it for longer but hopefully in the upcoming future situation will be more in favor of bitcoin market

This is an interesting question because if banks start using blockchain technology, the processing advantage that bitcoin has will no longer occur.

What? No, banks are still more efficient than banks in terms of transaction. Banks has no transaction fee while Bitcoin do, it has a fast transformation confirmation than Bitcoin do.

If Banks use the technology of Bitcoin which is the Blockchain, I guess there will be more efficient and secure transactions. I guess this will be happening in the future.

One thing is, Bitcoin and even cryptocurrency at large have their own weaknesses now, and one should not expect all to be perfected all of a sudden, it takes gradual process. Using cryptocurrency as transactions in all buying and doing has been in place, juts that it has not really been worldwide use. For bank transactions would be kind of difficult. Central Banks would definitely frown at that. Let us see how it pans out.

Yes, it can be but first of all it need to reduce the transaction fee becasue people lost there interest when they find they have to pay large amount fot transaction.

It has already been proved, period.

Bitcoin transaction is much better than banks and other financial institution no third party involved is one factor that makes bitcoin more efficient than banks and another conventional financial system regulated or not still bitcoin is efficient in term of transfer.

yes, all banks must expect many investors to join in the network, but for now the bank manager seems not to be open to service about using bitcoin to new customers who are not bitcoin users.

I believe that bitcoin is more efficient than banks. But nowadays there are lot of scam issues so somehow people choose to invest in banks rather than bitcoin and we cant blame them about that.

Somehow I see bitcoin as a useful currency to be used in banking transactions or processes. Though there are risks for its valuation or pricing but it really can be so helpful. The fear about bitcoin being used for illegal activities is really a common thing with actual money. So if we will be asking how different is bitcoin to the physical money in terms of usage for illegal activities? I think not at all. I think it is not even safe for them who use it for illegal activities because they could be traced through exchanges.

actually bitcoin is more secure because no one holds it , not unlike to banks that it is only operated by people which means there is a risk that your money will be stolen .

 however , volatility is only the problem on bitcoin but sometimes we can also use the effects of volatility as an advantage to buy more coins when it dips  and we can also grow our invested money if ever the price pumps .

Banks is only stable but we cant expect huge returns on here .

Bitcoin transaction is much better than banks and other financial institution. Bitcoin can be more efficient than bank transactions. However, the banks have no say in approving Bitcoin transactions. They can only limit or monitor cash conversion to bitcoin and vice versa.

Banks will already know the advantages of Bitcoin. It so happened that Central Banks will not honor their transaction if they use Bitcoin because it will literally kill the control of financial industry.

I agree that bitcoin can be more efficient than bank transactions.Its easy now to transact worldwide because people still consider bank as more trustable.and you can do it at anywhere in your comfort zone.

Yes it is indeed good to have a peer to peer transactions here to avoid high transaction fees that those bank will going to deduct every transaction. The good thing with bitcoin is that there is no third party being involved and no one could dictate on you like to do and how much you will like to transfer. Yet, there is one thing that also make bitcoin as an disadvantage to use bitcoin and that is bitcoin is not a bank and you cannot just trust to hold your bitcoins in your wallet because it might be risky like losing your private key and etc.

Bitcoin can be more efficient than bank transactions about fees such as transmit fee, storing fee, protecting fee and so on. Besides, the speed of Bitcoin is faster than bank transactions.

Obviously, bank transactions more efficient than bitcoin. So I do not agree with your idea. Firstly, bank transactions is under controlled by government, so bank transactions can be protected more than Bitcoin. Secondly, money can buy everything but not with Bitcoin. Finally, Bitcoin was banned in over 20 countries.

More efficient is not meaning more protective. That reason why many people still choose bank transactions more than Bitcoin.

Yes, I agree that your opinion is that bitcoin can exceed bank transactions which are rather complicated and the solution for bitcoin that can help transact with others and is not complicated and accessible anywhere is not required

I completely agree with your statement but it is also true that most of the people still finds bank more safe they don't want to take risks, but we have to make them aware of that this is more cheaper and easier than bitcoin trading

Yes, I strongly agree on this. First, Bank transaction was very hassle, meaning very slow to be done and to be manage if you have that emergency to be paying after cut off. Second, too much of ID and verification just to verify your account, and to much of process to be done before withdrawing and depositing into an account. And lastly, no tax or rather percentage for profiting and you must wait at least month to wait unlike banks that profits only every year.

Bitcoin it is decentralized that's why it is more efficient than the bank.people like bitcoin because you can easily transaction here. it is great and efficient that the bank transactions.

All the points stated here are facts and many people agree to them. We can only hope to beest from Bitcoin in real life applications and until that happens before we can fully enjoy the benefits of Bitcoin.

Bitcoin it is decentralized that's why it is more transparent and fast transaction. it is also reliable and more efficient than the bank translations.thats why people like bitcoin and most of people are interest to use it.

Bitcoin can be better option for cross-border transactions because of its ability to make cheaper transactions. Sometimes more secured and free transactions can be operated easily.

Bitcoin it is decentralized and third party control free. it is made by advance blockchain technology thats why its transaction are so fast and it's more transparent. it's also easy transaction and people are more interest to use it. it is good and efficient that the bank transactions.

It's true that Bitcoin transactions are much safer and efficient than banks. Before saying everything to banks I will like to highlight a point, That why people are even using Bitcoin when they already have banking sectors. People already have cash and other cashless services but with Bitcoin and other cryptocurrencies, they are getting much more features and at a very low fee or tax. This not only saves our money but also save our time because these internet currencies are much faster than banking sectors.

Yes, because of blockchain technology bitcoin transactions are not only more efficient than bank transactions but are also more secure and transparent.

Yeah, bank cost us administration fees and charge us when we store our money on it.
Maybe satoshi created bitcoin for eliminating the high fee while we send our money.
But now, bitcoin price is very high, causing the fee of transactions gone high too. Maybe other altcoins have better fee.

In bank transaction somebody  or staff is needed but in the case if bitcoin u can do it alone without anybody assistance.  It can go all the way from where it was to another level without any assistance from anybody.

BTC and blockchain have changed the existing banking business model!
BTC is more efficient, easier to use, less expensive to transfer and use than traditional banks, and effectively protects users' privacy!

Need fees that serve microtransactions, and preferably a decentralized option besides LN.

Yes, that's because Bitcoin is based on the blockchain technology which relies on the principle of decentralization. That's why some banks have already started testing blockchain technology to optimise their traditional infrastructure and processing units. However, this innovation is still evolving and I am sure that we will see a fine product down the road that will be beneficial not only in for the financial sector but also in other crucial sectors out there.

Thats why OP says that banks will allow transactions of bitcoin with condition of registering on special platforms.so before hand this is not happening ..

For me crypto transaction is more accurate,more efficient and more cheaper than banking networks so I believe that in short time this will happen,since banks are now starting to adopt blockchain to their technology

Of course bitcoin can be more efficient than  the bank transactions, because bitcoin doesn't need the role of middleman that often takes a alot of time and cost that makes the transactions unefficient.

Indeed, there are some who already get this about costs and do not want to risk full adoption of crypto, so there are those who offer the best solution. There is a good example, not related to the bank. IBM will receive blockchain, but only as a mediator. There is someone in a country, sells local fiat to BTC and sends it to IBM to buy goods. IBM then sold btc for the fiat they wanted. Banks can do the same thing, but I think that needing an ID and fully adopting cryptos is a better solution. It's just that no one wants to say goodbye to Fiat. Thanks

Payment / transactions by using bitcoin is surely cheap, efficient, quick, fast and without middle man.  Banking transactions are costlier as compared to bitcoin transactions. 
That is why more and more people are attracting towards it.

We all are aware with this human tendency of saving money for their budding generations and therefore we human have a habit of investing our money as savings, as from ancient times people used to invest into gold and I guess, this investment is still very popular but then with time some businessmen started investing into stocks but it is not that successful then comes the bank investment and the comes the investment of the future, the crypto investment and I find this investment to be the most successful and the most beneficial investment of the available one.

I might agree that BTC is more efficient in terms of time and place that can be done anytime and anywhere, but in terms of security I prefer to convesnional banks because they have a trusted and guaranteed security if something happens that we don't want

Bitcoin transfers are already cheaper. may be on cointelegraph or news.bitcoin, I saw an article last week that Bitcoin transfer is like 6000 percent cheaper that Fiat Transfer fees of Bank Of America charges.

of course, the reason is:
Bitcoin and the like can provide transaction cost efficiency, even when compared to banking.

"Transfers with bitcoin even between countries average administrative costs close to zero dollars. Obviously more profitable than transactions via banks whose administrative costs are still expensive.

In terms of transaction fee, Bitcoin is already hugely more efficient than banks so that's one strike off the list. The only thing Bitcoin needs to improve is the energy cost of its transactions, which I believe is actually somewhere around $300 per transaction if you really do the math. Though of course, the energy expenditure of the Bitcoin network isn't correlated with fees, yet many people do make this calculation regardless.

I think bitcoin will never be more efficient than bank transactions. Because Bitcoin is a virtual currency. Bitcoin prices always change. Transactions in bitcoin are anonymous. You will not know who you are dealing with. Bitcoin is where criminal activity and money laundering take place.

No doubt it is proven that bitcoin transactions is cheaper, secured and faster than banking transaction even when lighting Network is implemented however one of the obstacles surrounding its non recognition by some countries is the use of bitcoin illegally ie money laundering however regulations will have been the solution to that but some people prefers transacting anonymously.

Well its the true. Like the First world country is cheap but for the 3rd world country that fee is so high for us thats why some of us use different method to prevemt high transaction fee using different coins. And about on doing a transaction theres maybe advantage and disadvantage ln both sides, bitcoin is cheap better than wiretransfer/using bank transaction but the disadvantage is it can be pish if your not prepare on the transaction you make like on the bank you are fully secured that transfering money is sure that the reciever will get it.

Bitcoin is a tool for relatively fast money transfer in the virtual world. It also serves as a measure of value, a means of payment and a means of accumulating value. He does not have any other functions. Meanwhile, banks perform a lot of other important functions, including credit and financial services and maintenance of current and other accounts of individuals and legal entities. Banks provide loans to the economy and ensure the implementation of the country's budget in terms of financial support. Therefore, bitcoins and banks can not be compared, each performs its functions, and in bitcoin they are insignificant compared to banks.

Yes it will, we can secure transaction by using bitcoin and more faster than bank, always be on time transaction and we can do it eny time and any where, not like bank, we need time and place to make transaction with bank system.

Expecting from people to change their habits in a day is not reasonable. Let's offer some options and give a chance to choose. Also, banks are sitting at the center of transaction and payment systems.

Some people may prefer to use a third party and do their transactions and payments via banks. Some do not and prefer p2p transactions and payments. If people have right to choose, recognition of criptocurrencies will be stimulated. I think banks will be weaken and lose their power in a long term.

Agree with you. Transaction is very cheap.
I saw TX amount 500 K$ with low fees, about 5-10 cents only.

You can conveniently make a transactions with bitcoin because all is online on it unlike banks that you have to personally go there and make the other person do a transaction for you. Using bitcoin is less hassle for everyone and you can make it with your own time. It also faster to transfer money from one place to other place without risking your life to be robbed in the road.

Bitcoin no doubt is faster, quicker than a bank transaction though it is not more reliable than a bank transaction because of anonymity of the transactions. So if a person prefers anonymity Bitcoin is more efficient being digital money. But it is also limited to people who have access to internet. It is super efficient for cross border transactions also.

There is no comparison between Bitcoin and the bank. Each system has its own roles and in the e-commerce sector can be bitcoin is seen as rapid exchange. Be sure to calculate the value of the cryptocurrency.

many people said like this too, many people think that blockchain the system of the bitcoin has more power and more security than the ordinary system that bank use for their transaction, and i think that its true, because we can see that blockchain is the new platform that have the high level secuirty, i think in the future we can see that there are many things will use the blockchain system in their system

There isn't any doubt in bitcoin being better than banks in many a ways like sending the payments across the globe very quickly and cheaply than banks but the reliability and the convert ability of bitcoin to cash isn't available in most of the countries that are in the developing world so using bitcoin is almost impossible to send money into those countries. The best part about bitcoin that I like is that we get the money same day as compared to bank which takes more than a couple of days to complete the transaction.

Yes, that is one of the best feature of Bitcoin, that's why I much prefer using Bitcoin than sending money thru banks and many banks here in our country freezing individual's account without any reason, that is very scary. Bitcoin is really the best for that problem.

The development of blockchain and bitcoin is a revolution. There is no way blockchain and bitcoin are better than banks. We are at the beginning of a revolution and we just have to be patient enough for this blockchain world to become part of our daily lives. The beginnings are always difficult and that is why we must be patient.

Yes I agree to that, bitcoin is more efficient than traditional banking. It gives the freedom of privacy in our transactions and we can even do transactions globally with ease and with minimal cost. Bitcoin is really amazing invention.

It can be said that bitcoin was born as a payment revolution. It fixes traditional transaction issues such as Any transaction has a limit on the transfer and receive money but for bitcoin, there is no limit. The transaction is still done but your identity is completely secure. The transaction cost is extremely low, and most importantly Bitcoin cannot be faked.

yes, of course bitcoin will be more efficient and than bank transactions because by using bitcoin all transactions can be seen and are very fast and the security is very guaranteed, and you can also make transfers between countries quickly.

yes. I am totally agree with your point of view regarding to this topic. As of now, Banks is still efficient to used because many businessman and other investors still used it and proved it by many years while bitcoin was knew and we can not say that it can be effecient that easily. We still need banks to support the market and it is very common used to transactions.

bitcoin will continue to be banned by governments around the world because it is often associated as a means of money laundering that leaves no trace at all, but it seems that there are several banks in the world that have cooperated with one Cryptocurreny altcoin namely xrp, this news has been heard since 2017

it is very true that bitcoin is further more efficient than transactions carried out through banks, with bitcoin we no longer need banks, we can make transaction anywhere, anytime, only through our smartphone, even with lower cost than bank administration fees

Yes totally because Bitcoin is much faster compared than the bank transaction. When do transaction in Bitcoin there's no need paper to fill up, you only need to click and then they will receive it immediately. People always want a instantaneous so Bitcoin is good for that especially when do transaction. So if Bitcoin allowed to used then possible many transaction will be immediately received.

That's a nice solution for mass adoption. It would really lessen waiting time for overseas transfers and be a win-win for all the ordinary people and the banks.

I would not want for fiat to be gone also if the can work hand in hand, then I don't see any problem with that.

if the transaction is a problem, I am sure that I can really beat the bank. well, one of the advantages of bitcoin is this. however, the bank is not just a transaction, but there are still so many things that bitcoin cannot do to exceed the bank's capacity.

Of course, i think that is also one of the reasons why governments says its illegal because a lot of banks will be dead if people will get to use bitcoin. Bitcoin has a lot of future, its about us how we will make it more useable for our everyday lives.

"Transfers with bitcoin even between countries average administrative costs close to zero dolllar. Obviously more profitable than transactions via banking that are still expensive administrative costs".

Bitcoin and the like can provide transaction cost efficiency, even when compared to banks.

The only reason that any bank in the world is created is the profit of the owners and they are absolutely indifferent to the convenience and comfort of the client.

I think that btc can be more effective than bank transactions because it is the best coin ever and it has a lot of advantages. I am sure that btc will be the leader in the market for long and we will see this soon

BTC transactions need to be centralized to make it coordinated with banks. Although I think it's good to control and regulate transactions to prevent frauds and illegal actions, it's hard to do without centralization.

Bitcoin is more efficient than banks, less in transactions charges, money in pocket that is safe from thief's,its grows while in your account,decentralized in nature..

Yes i agree.Bitcoin transaction is definitely more convenient and efficient compared to bank transactions.And the fact that you can have the sole and full control of your account so it stays private and more secured.While in bank transactions,your account may be privately known by their own employees and that will definitely cause an inside job transactions.

I think bitcoin will never be better than bank transactions. Bitcoin is the best electronic currency but it's just a virtual currency. Bitcoin trading is also anonymous. So it will be where the money laundering takes place. Bitcoin has not been accepted in many parts of the world.

Bitcoin transactions are more efficient than that of bank transactions. In terms of the time needed to complete a transaction, bitcoin is very fast than that of the bank.  The person receives the funds instantly with no third party involvement. Bitcoin also provides cheaper transaction fees as compared with the bank.

I'm sure that bitcoin will be more efficient than bank transaction. It provides cheaper, safer and faster transaction. One more thing is that bitcoin transaction is completely anonymous

Bank transfer usually takes 3-5 business days just to complete the transaction while in Bitcoin it takes just a couple of minutes hours or day to do so. Moreover the cost of bank or wire transfer is more expensive compare to Bitcoin which is more beneficial to people.

Yup i believe the same thing mate,since the reliability and accommodation that bitcoin can offer is too far from banks can.and the efficiency of blockchain transactions is what we need ,because being a former bank user we can differentiate whats the advantage and disadvantage of both.so for me i am to cryptocurrency specially bitcoin and I don’t wanna use a third party involvement again

At the present time, I think investing in Bitcoin is better than depositing money into a bank. Because when you trade Bitcoin, you will not be able to lose your information, and the bank will not.

well, maybe in terms of transactions, bitcoin has a very good level of comfort for us. well, I think for now, bitcoin can indeed compete in terms of transactions with banks. but, of course the bank is still superior to me.

in recent years money transfer transactions between countries are more comfortable using crypto currencies. because each country or bank charges expensive transfer fees. this is very burdensome for users or customers to transact. with flat transfer fees I really like this feature. and transactions become fast and efficient.

There are certain degree of factors that make bitcoin more efficient than bank transactions in the sense that it has a fixed amount of supply, lower transaction fees, and is giving people the freedom of privacy in their blockchain transactions as receiving and sending addresses are concealed wherein new addresses are used in every new transactions made in the blockchain giving it more secured transaction.

I also hope that the whole world can implement it, especially in my country, because bitcoin as a means of payment is still prohibited by the government.

Bitcoin as global currency is used in just about every country on earth that accepts it. It can be used on any website, transferred more easily than really any other currency or bank transaction. And the fact that it has no central authority, makes it faster and cheaper too. Plus, we don’t get to confined to banking hours. No such thing as holidays as well!

there are positive and negative, there are advantages and disadvantages. bitcoin can be faster than banks, and don't need to go anywhere. enough at home and using samrtphone or laptop. besides, the value of bitcoin can increase if held. but unfortunately, there have been many cases of hacking, and also bitcoin is prone to being used for illegal transactions.

but bitcoin has a greater positive value than banks, banks are very slow, primitive and only provide benefits to the bank. Bitcoin innovation never stops, bitcoin able to compete with world markets, but banks only make the national currency weak.

Very sophisticated blockchain technology allows that to occur using bitcoin transactions will be better than using bank transactions, but at this time it cannot be said to be better because bitcoin still has big problems about its recognition in various countries, even though their technology is ready. but the users are not yet fully aware

Yes of course it can be more efficient than bank transactions i even like the fact the transaction will be faster safer and reliable most times the bank can be very disturbing most times

I agree with you. We all hope there will be regulations from the government or any authority to allow bitcoin transactions. Bitcoin must not be banned, it must be regulated. Banks or governments must see bitcoin opportunities that are more efficient than official banks. It would be better if bitcoin is allowed for any transaction or payment.

This is absolutely more efficient than banks and no wonder why many people now a days are more joining into this. It became easier and comfortable to send or receive money thru online. We dont need to go out just to do any kind of transactions as far as money is concern.

Bitcoin is accessible anytime without any hassle and more convenient than banks where you have to appear on their place to make transaction and you have a personnel to do it for you. In bitcoin, you can do everything on it with your time even you are doing other things. I can say that it is efficient to do transactions through bitcoin and make it secure for your own good.

Maybe soon, the bank will adopt blockchain technologies to their system, and they can solve their problem in the transaction section. Bitcoin itself still grows right now and still develop in many ways including for the time of the confirming the transaction. And the illegal transaction is the most problem for bitcoin, and it needs to solve in a hurry.

The most important advantage of bitcoin is that only you use it and nobody else. Whereas bank uses the money on your account and in case of any problem you will not be able to withdraw your money from the account at the right moment for you. Also you can transfer bitcoin anywhere and anytime, regardless of the schedule of work and holidays, as it is in the bank.

Yes, of course, bitcoin can be more efficient than the bank transactions. Because bitcoin transactions are cheaper and faster than the banking transaction. I strongly believe that it is more profitable than transactions via banks whose administrative costs are still expensive. But in terms of security, banks have a trusted and guaranteed security.

The usual 3 to 5 banking days for transfers/deposits has long been addressed by a number of banks.

Majority of banks on an international level is already in cooperation with one another and had speed up banking process.  On a local basis, bank to bank transfers are nearly instant and there are no fees involved if banking under the same institution. While international transfers can take an hour to eight depending on the time zones and would usually entail a reasonable banking transaction fee (though bitcoin transfers are definitely less, converting it to fiat incurs additional fees too).

Perhaps the best attribute of bitcoin that supersedes that of the traditional banking is being permission-less. When banking requires to scrutinize your personal details and at times even source of income and capacity to bank, bitcoin does not allowing anyone to get a wallet and transact.

Yes, I agree with you. Bitcoin is more efficient than bank transaction, this is the reason why people tend to use bitcoin, not banks anymore

Not wanting to be rude, the usage of our funds by the bank is not illegal per se, some banks do as you cited. And that is why we periodically get some dividends from time to time. But the part where our money could not be withdrawn should we wish too is not so true unless in the event of a technical bank issue or chaotic events caused by war, disaster or economic crisis.

Though i do agree that the bitcoin you have is rest assured to serve you alone at any point of time and none have any access to is except you alone. Perhaps it is in this sense of security that bitcoin pegged a clear edge over banks.

I agree, in bitcoin transactions the transaction is faster and more accurate and efficient than more complicated bank transactions even though there is already an e-banking application

This is right, bitcoin really shows and proves that it could be more efficient through this year. The cheap transactions fees and other features it has for the users. So although there are many things to do to be completely use btc in the future.

yes, and cheaper also, according to a recent News.Bitcoin.com article, BTC transfers are 6000 percent cheaper than BOA.

Indeed! Actually Banks are prone to bankruptcy for the value of money there was fixed compare in decentralized transactions. Also, when we are transacting in crypto world, users are anonymous resulting to lower risks while transacting aside from hacking issues.

Bitcoin is certainly efficient that bank transactions and also very cheap considering transaction fees and those are the main reasons that bitcoin was invented in the first place to do transactions more effective manner unlike any other system in the world and it worked and even there are many other altcoins in the market that are better than speed and the price still bitcoin is better than bank transactions in many ways

this does not mean that the price should grow, since investors' input is most likely realized through OTC (over-the-counter transactions), through skype, at face-to-face meetings, etc.! Now there is accumulation of crypto assets, if the green light is given, all this will be poured into the stock exchanges, then the boom will begin!

I think that in order for bitcoin to work properly, there must be a consensus or management to ensure that the transactions of people with bitcoin are safe and that no malicious actions harm the user. . At that time, people would be able to use it as an official currency

Bitcoin is border less transaction  and it very first rather bank and also cheaper. Now days so many people use bitcoin for their payment its very first and  hassle free.People love bitcoin transaction rather then bank. All over the world bitcoin are accept very good payment system.

Bitcoin certainly wins on all points. And soon they will be able to pay in all countries. Remember phones yesterday cell was push-button, now with the help of phones, we Supplement reality, landlines remained, mobile phones did not displace them (completely) as well as with money, now more and more people pay with cards than cash, and very soon it will be a cryptocurrency and a gradual departure from Fiat currencies!

Until now we have been using banks as a medium for exchange. All our transactions are governed by banks, acting as mediators and a necessary authority in order to make any transaction possible.

That was until currencies like Bitcoin came into existence and completely transformed our belief about money and how it functions. Banks which were considered as an efficient way of exchanging money. How amazing would it be, if we could just transfer some money from our pockets to any individual or stranger in any part of the world, that too without any mediator to perform the task for us? That's exactly what bitcoin does. You can transfer the money you have to any person on the planet without both of you having to open a bank account and put some money on it.

One of the biggest benefits of transferring money via bitcoin is that there isn't any mediator to control the transactions, you can willfully do whatever you want to do, transfer any amount of money you want without having an authority telling you what you can and cannot do. Also, there are no added charges with bitcoin as there are with banks.
The benefits of using bitcoin far outweigh the reasons why you should still use banks. And that is why we say that bitcoin can be more efficient than banks.

Any transaction is based on the principle of profit. Bitcoin can't be compared to the Bank because it is so different and the transaction is different.

Yes, I agree with you. Bitcoin can solve the bank's problem especially for the speed of the transaction although bitcoin transaction is not too fast. Still, it is fast bitcoin than the banks. Besides that, bitcoin can be sent to any places without any border, and the fee transaction can reduce no matter how much we want to send the amount.

Cheaper, more convenient also. I think bitcoin have so many advantages over banks

Banking transactions will soon go away in history. Bitcoin is our future that will come very soon.

It will definitely happen because with bitcoin concept many learned how ineffective and inefficient traditional banking systems are and that is why many industries getting attracted to bitcoin and its market to see what kind of change they can do by adapting bitcoin into there transaction processes so definitely bitcoin is the future currency of transactions

practical, efficient and fast it is cryptocurrency created in the economic system using advances in time and technology so it will certainly be more practical and faster than the banking system

Yeah you right, compared to bank transactions it would be far better to use bitcoin, especially if you can do transactions with anyone anywhere in various countries without fear of differences in bank providers and high fees, the transaction speed is also undoubted and the special is anonymous..

Bitcoin will be developed how more efficient method of  transcontinental transfering moneys.
Main advantage is transaction speed and low cost fee

Yes, and cheaper, according to a News article. It's not like any other system in the world and altcoins in the market are better at speed and bitcoin prices are still better than bank transactions in many ways.

Transactions with bitcoin are without a doubt much more profitable than banking transactions. But to transfer money it is necessary only to trusted users, because to get back your bitcoins, you will not be able.

Sure, it is more efficient, actually it is not very hard to be more efficient, than the banking transaction system :D Still, I do not think banks will use Bitcoin, to make transactions faster.

Truly, the unavailability of transaction reversals are few of the things that one needs to be aware of regarding bitcoin payments. An ounce of extra care when making any transaction is a must. One needs to make sure that they are sending to the right bitcoin wallet, otherwise, the bitcoin sent can not be gained back through any means. And remember, there is no governing bitcoin authority that can reverse such payment mistakes.

Technology 4.0 is growing, the trend of using electronic transactions is increasing so that bitcoin will gradually replace the normal transaction thanks to the fast and low transaction costs. Bitcoin trading is becoming more and more popular
is widely used in the world.

Bitcoin is really a tool for quick money transfer in the virtual space. At the moment, Bitcoin serves only as a means of payment, while banking services perform and perform many different functions. Banks provide loans to the economy and ensure the implementation of the country's budget in terms of financial support. From this we can say that Bitcoin and banks perform certain functions and cannot be compared.

Electronic transactions will gradually replace traditional transactions, helping consumers and businesses significantly reduce the time and costs of transactions. Create conditions to find new customers, new business opportunities in the field. water, regional and international. Stimulate the development of the information technology industry and play an increasingly important role in the economy. This benefit is also significant for developing countries, which can make a leap forward in developing countries in the shortest possible time.

for me personally, I think the bank is more efficient in terms of how to transact and its security in saving money, for the matter of speed and cost in this case I prefer to be the btc who is superior, maybe in the future if the government can begin accepting btc as a legal payment instrument in the digital world , the development of btc in terms of security will be even better, and maybe someday btc or crypto will be much more efficient than conventional banks that we use a lot today

Bitcoin transfers are very fast and because they are untraceable I think this makes them very popular. Locally the banks are more efficient.

Those are the key points and biggest advantages of bitcoin. But we cant forget the down side- there are many illegal transactions happening,and there is no way to stop them. besides that there are more pro's than cons

Bitcoin and Cryptocurrencies provide an opportunity for everyone to directly transact peer to peer without intermediaries. This means that all Cryptocurrency users can see all transactions between users that occur involving the Cryptocurrency, without being able to tamper with the data because it is cryptographically locked and requires consensus agreement between the Miners. (Bitcoin can be regarded as digital gold, a network of developers who are expanding a network of Bitcoin transactions called Miners. They are the ones who are expanding the network of Bitcoin transaction blocks, auditing new transactions and printing new Bitcoin as gold miners increase the amount of gold by digging it up.

Maybe someone will be interested, the conclusions are very sensible, though not in relation to the cue ball, but ethn, but everything is connected,

at least the cue ball has other functions. What I mean is that the indigen is also his time now, and if the next one is still speculative, then it will most likely be technological, because the future is behind them.

Bitcoin is not highly scalable. Therefore, in the future, there may be more competition for add a transaction to the block. Bitcon is digital gold.

as for the product of blockchains in cryptocurrency, more people rely on bitcoin transactions rather than banks. Because using bitcoin trnsactions out of the internet, it is so convinient and more fast than bank transactions. And this is possible by bitcoin and its development.

The effectiveness of bitcoin should of course be accompanied by regulation.I think the regulation will attract even more businesses and banking institutions to the cryptocurrency space.

yes, bitcoin have great transaction than bank. transaction speed, low cost, simple when you make transaction across the world, and many advantages. just need regation from government. need to replace bank with crypto.

Bitcoin payment transactions are faster, convenient and less costly. While bitcoin is effective in payment transactions banks has a lot of services to offer which makes banks still efficient. Also the direct peer to peer transaction service that bitcoin offers makes bitcoin attractive.

I would love to see more retail stores accepting Bitcoin, but I am sceptical, when banks will integrate Bitcoin in their system in global, it is so far away from what they represent.

Banks use database, Cryptocurrency use Blockchain and this is why we are in the stage of information. The higher internet speed the higher speed of transaction we need and before anything else the internet may speed up to 5G and it will be on mainstream on 2020 so banks should shift to cryptocurrency. However in the long run if those hackers will use 5G internet they will easily track your portfolio and software database and that will be a big problem to all central banks. So i guess they will shift to cryptocurrency for more safety precaution and more efficient.

Bitcoin transfer will be more efficient than bank transfer in a matter of time. Bitcoin has only been with us for a few years and has improved tremendously. The elimination of intermediary and bureaucracy is a great advantage and you can do your transaction without boundary barrier.

for me, bitcoin is always better than bank transactions because bitcoin transaction is cheaper and safer than banks. For oversea transaction, i always choose bitcoin

more efficient using bitcoin transaction than bank transaction, we can sent much money by convert with bitcoin with higher value than we have sent money by using bank and limited by bank system. transaction using bitcoin more faster than using bank.

Without a doubt it is the most convenient method to do transactions without any barriers or interruption which is unlike traditional banks which uses old methods and centralized network and that increase there transaction fee immensely during processes so users has to bare both high transaction cost and waste of time but with bitcoin those disadvantages can be reduced or eliminated

In my opinion, Bitcoin will be more effective than bank transactions because of the rapid transaction. You do not have to wait a few days to receive the money if the bank leaves on Saturday and Sunday.

Bitcoin is really a tool for fast money transfer in cyberspace. Electronic transactions will gradually replace traditional transactions, helping consumers and businesses significantly reduce time and transaction costs. Stimulate the development of the information technology industry and play an increasingly important role in the economy. Bitcoin transfers are very fast and because they are inaccessible, I think this makes them very popular. Bitcoin does not have high scalability. Bitcon is digital gold. Because bitcoin uses trnsactions out of the internet, it is very convenient and faster than bank transactions.

Bitcoin can be more effective than banking if it’s possible to lower commissions or get rid of them completely.

Anyway, scalability problem is still here. Yeah, I can agree that LN is going to fix it. But time is required. Btw fees are going lower and lower  ;)

the initial goal of bitcoin was just this, so I think if now it is beginning to be discussed, then this is a good reason for growth

I like your opinion that bitcoin should be more than bank transfers because we currently live in the modern era so it's not just virtual money but bitcoin digital money can help transactions

For me it's already more efficient from the side of transfer speed and fees.
Just one thing people are not saving money in crypto is the security.
It's so volatile and easy hacked by the hackers

Banking transactions will soon go away in history. Bitcoin is our future that will come very soon. ;D

we admit it that bitcoin is better than bank in transaction. though in other thing. but we cant rule out the positive side of bank. many people helped by bank, before crypto born. i think, than we just compare between bank and crypto, is more useful if we combine this two thing so it can be very very useful for people.

Bitcoin is more efficient in terms of speed and reliability than banks, however the inability to trace the transaction to a particular entity is the major setbacks hence banks are refusing to integrate it into their system.

At the present time, I think investing in Bitcoin is better than depositing money into a bank. Because when you trade Bitcoin, you will not be able to lose your information, and the bank will not.

Bitcoin is already more efficient than bank transfers right now. Did you mention that thanks to its competition, can banks now make faster wire transfers? Coincidence?

Actually, bitcoin is cheaper than bank transactions. And it's also very easy too. Because you can do this without any internet services from anywhere in the world, from one corner to another. That too without any fee Well, there is a very small fee for the exchange of crypto currency exchange

If Bitcoin could only become so popular and demanded in just a few years, then in the future its popularity will only increase and this could well replace banking operations

This is what scares the banks because they know Bitcoin can be a major disruptive element to their services. Bitcoin transaction offers good security, fast transaction speed and user control which eliminates all third party interruptions which further delays banks transactions.

I don't think that will ever happen. The reason is that banking is one of the main containers the product of government pride or more familiar with fiat currency terms. Maybe bitcoin will run parallel / together with fiat currency.

I think that is the initial purpose of making bitcoin, to see the potential for future financial transactions that are more independent, transparent and easy. the equality of fees throughout the world, even developed countries, developing and poor countries, there is no difference. decentralized is also one of the functions highlighted, this is one of the reasons why conventional banks are a little skeptical of the emergence of the crypto industry, they are surprised by the rapid progress. initially they seemed to refuse, with the emergence of various kinds of crypto banning news, but could not turn a blind eye, that blockchain and crypto were the real things that must be accepted by the world, the government and banks were now starting to make various regulations, slowly but surely crypto would be accepted globally . If you talk about Japan that has begun to take positive steps towards Crypto, it's no wonder, they are developed countries, which are very open to innovation in the future.

Yes thats true its good to invest rather than to save your money with a small interest. In bitcoin you can earn a lot yes it change quicky but the benifits of having bitcoin is better than you have own money sleeping in bank.
Ypu can use it in many transactions. Trade and buy also it has a lot of things to do with bitcoin.

for me i used to invest as for my long term profit and i do trading for short term profit , long term is good but the return of investment is slow but the gains are big, while trading you earn little but frequent, so investing and trading are both recommended

I think bitcoin trading has many advantages over bank transactions. But in the current world situation, bitcoin is not dominant over the world banks. bitcoin trading has many new points, people need time to accept these new points

Bitcoin trading is proving to be quite beneficial for those who regularly use e-commerce. To pay online you must fill out all confidential information such as card number, expiration date ... to the web. That's why so many credit cards have been stolen recently. Meanwhile, Bitcoin trading does not require you to write any confidential information. You only need two types of keys that are the public key and the secret key. Anyone can see your public key but the secret key is only known by the owner

I think if the government will try to control any transactions related to Bitcoin, it will have a very negative impact on this cryptocurrency ecosystem. Bitcoin is a libertarian and free currency. It is based on the principle of freedom. Government regulation should not interfere with it.

they will not be able to modify the blockchain in such a way, unless they make their own crypto algorithm and this is still very unlikely, the government will try to weaken bitcoin and make a counterweight to the altcoins they make later.

I believe this is because until now there has been no official ban with the international MoU to ban crypto.

The efficiency of transactions with data transparency is still having problems where a large amount of transaction traffic will result in buildup on the blockchain Mempool. Transactions will experience a delay that is quite long and even longer than the clearing process in conventional banks.

Bitcoin transactions are definitely cost-effective, time-saving and most importantly they are highly secured when compared to Bank transactions. Now people don't have to wait for money transfers for days. Transactions happen at the drop of a hat today. Thanks to technological innovations like blockchain technology. This is the dawn of a new era.

Such special platform (especially one controlled by the government) would probably make Bitcoin expensive to use. Peer-to-peer transactions is what makes Bitcoin/Cryptocurency cheap I guess.


What do you mean here?
You mean using money is illegal.  Don't forget why bank was invented in the first place.  
If I find some gold and decide to buy stuff with it does that make my transaction illegal?

Banks should be interested in cryptocurrencies, and probably they are, as crypto is the future, and if they want to keep up, they need to be open minded.

Time-saving? It takes 20 seconds to make a bank transfer, but it takes a lot longer to make a bitcoin transaction to be fully complete (or at least 6 confirmations)
Cost-effective? Not for the majority. For example in Europe, it's free with SEPA
"highly secured when compared to Bank transactions" This is subjectif

Yes, I agree with your opinion, for example, wanting to transact from country to another through the bank is very troublesome and requires a long process, but if through bitcoin or other digital currencies it only takes a short time.

Bitcoin Can Be More Efficient Than Bank Transactions
maybe yes maybe no
if transactions to other banks or domestic transactions, the Bank is much faster than bitcoin
only one minute for the transaction to be processed, but the Bank is not decentralized
and Bitcoin is superior for transactions to various users around the world
Transactions can be completed in just one hour, different from a Bank that requires at least three days

Not possible bitcoin is using blockchain for every transactions, the new technology are continue to improve and progress bitcoin become efficient currency for fast transaction.

Using digital currency makes our life easier and faster than of using fiat instead. Though there is no refund for wrong deposits and sending but it is traceable which  could be means that there is a chance of bringing back our money by then for such mistake.

Yeah! Because bitcoin can be user all over the world except for countries that banned the bitcoin and cryptocurrency. It is more efficient also when transacting on overseas and international. The fees are lower than banking. And last, we can send money even we are at house. I rather use bitcoin than transferring my money using remittance center.

yes, that's very true. bitcoin is very efficient than bank transactions. it happens because bitcoin is not centralized so we can do our own transactions whenever and wherever we are. and transactions using bitcoin do not require a long time and the number of transactions is unlimited. and cross-country transactions only require a short and very easy time.

The best is we don't have to pay big fees to make a transaction, and we can send the bitcoin to every people at any time. Besides that, we can control our own money, and we don't have to pay another in monthly, and I think our investment in bitcoin will grow from time to time. And this will be a good reason for us to keep our bitcoin for a long time since the bitcoin price can increase higher in the future.

Indeed bitcoin is more cheaper transaction and quick arrive when you send it. While banking they are so many files need a signature so hassel not like bitcoin. And in comes of profit bank is so lose on it. They given small interest while bitcoin they can double your profit in just 1 month.

Bitcoin seems to be more efficient than bank transactions at the moment. If you ask why, sending Bitcoin from one end of the world to the other end is less than a fraction of the money.

I think that central banks everywhere will need regulation. Suppose they want to adopt bitcoin as a payment instrument. Because maybe, with the regulation, it can prevent criminal acts that use bitcoin as a means

I think that for Bitcoin there should not be any restrictions in the form of permissions from central banks to implement them. This contradicts the very idea of Bitcoin and this is unacceptable.

Actually, for a fact it is right that the transaction fees for overseas transfers is very minimal if we use bitcoin for these transactions. Bitcoin is even more faster for such transactions. But people still use only those traditional methods of transactions. Because they find it ore convenient. It is their prudence, that does not allow them to shift to better methods of transfer. Actually people have natural tendency to resist change and that is the main problem that is not letting full bitcoin adoption.

bitcoin is more efficient, causing banks to think hard to be able to make bank transactions more efficient than bitcoin, now the bank feels threatened with bitcoin, so banks make bitcoin a rejection. so I think bitcoin will continue to be a coin that makes transactions easier and more efficient than banks.

In my opinion, the cost for bitcoin is much cheaper than bank transactions, thereby saving for user. Moreover, bitcoin can be more convenient to make. Furthermore, I think bitcoin is safe and secure because no one knows who I am.

Maybe in the future crypto would become better and efficient in terms of transaction rather than the banks if all the country used this crypto and become legitimize,but for us now i can say thats banks are better than crypto because its legit and allowed by the world government to operate world wide.

It is very true that cryptocurrencies are created with the technology and development of the times that require development in terms of the economy and of course practical, fast and efficient of course and that is what people need in the future

Weekends and other holidays are not a problem for bitcoin transactions to get delay and that is a significant advantage in the bitcoin network because there is no centralized party filled with workers to process a transactions like does in banks and other financial organizations so doesn't matter what ever the day is or time is bitcoins transactions will be always faster and effective than banks

Of course it is. As bitcoin is a digital currency it will lead the future currency market. There is no transaction delay & limit. Also the parties involved in transactions are anonymous. So, there is a growing trend of Bitcoin. I personally like it & more people are engaging wit it.

It could be efficient if all people support bitcoin/cryptocurrency so they can use crypto without any problem. I am sure that the banks are seeing this is as the opportunity for their system. But the problem is, the government still not stating the crypto and I think they still learning the crypto deeper so they can try to migrate their system. I agree that with bitcoin, the transaction fee can be reduced because this is the biggest problem so far in all country and once we can use bitcoin for the legal thing especially for making a payment, then the problem will be solved.

I agree, international money transfer is very beneficial if you're using bitcoins as a medium but if you're going to transfer locally, then just stick with the more convenient options like money transfer. I wouldn't opt to use bitcoins now for a local transaction due to the time and the cost to transfer.

I agree that bitcoin is more efficient than banks, especially for transactions between countries. Bitcoin prices depend on the market, but if the bank measures the exchange rate is the dollar usd and haeus is recognized by the tax and administration costs of the bank. I think bitcoin is more feasible to use in the free trade in theword.

The only thing in here is that Bitcoin is very volatile and its price/value isn't stable and this is a big "NO" when it comes to banking but if Bitcoin is not volatile it will be absolutely adopted by every bank in the world. We can't do anything with the volatility part of Bitcoin because its main feature is being a decentralized crypto currency the no one controls neither a government or a central bank and this gives freedom to every user of this technology. Maybe banks will not accept or adopt Bitcoin but there is a high chance that they will surely adopt the blockchain technology of Bitcoin because they already know what this technology can do and the efficiency they'll get when they use this innovation.

When it comes to transaction efficiency, Bitcoin is surely more efficient than bank transaction because of the time and energy that a person can save with this method and there is no doubt about that. :)

I don't believe that banks will accept crypto currencies but who knows anything might happen in the future and there could be some change of heart that will occur.  8)

But it depends on the volume of the transaction though because there are times when the transaction fee becomes expensive especially during the times when the price is going up and more people are transacting and since they want to send their coins as fast as possible, they would be willing to pay out a higher fee compared to others causing the price to go up as more people would be willing to pay a higher transaction fee for a faster transaction.

The advantage of bitcoin over bank transactions is that there is no middle man which is the bank so you are assured that when the other party sends you something, it will reach you as soon as possible when it's included in the block.

bitcoin and banks of course have different systems. all have their own uses, we cannot compare which will be more efficient. indeed for now bitcoin is still very difficult to be a currency in several countries. most bitcoin users and cryptocurrency only make bitcoin an investment asset, not a payment instrument.

In terms of efficiency and transparency, I do believe strongly that Bitcoin is far a better option than the banking transactions. Bitcoin is fast and does not have hidden charges.

I agree. However, despite having such potential, Bitcoin is still a long way to go before it can actually realize all its raw potential. The thing about cryptocurrency these days is the reality that despite it is a good market to be in, and it has lots of good changes to undergo that could lead into its further development and improvement of its stability. I think when that time comes, Bitcoin can compete with other similar markets and would surely inspire a change in the business sector.

of course bitcoin can be more efficient in term of transaction processing but everything will be in advantage of the customers also processing transaction through bitcoin network might result in loss job because few people are required. However since we all know that transaction cannot be altered or tampered with. which means it unlikely transaction can be reverse in case of transfering to a wrong account and this is one of the cons of bitcoin network. you can actually see the transaction but ones its done it can not be reversed.

I definitely agree with this. Bitcoin transactions sometimes worth a penny. You can also buy some stuffs overseas without any third parties used and didnt have hidden charges. You just have to make sure that you've input the right address in transacting or everything will be lost. Unlike banking you can still recover your money if this happens. Still bitcoin transactions are the best. Hope this will be fully regulated so everything will be so handy ;D

everyone must need a process, in my country I haven't used such a system, because the development of bitcoin in my country is still limited. but the reality is that since the presence of bitcoin in my country, many people have progressed especially in terms of the economy, and the poverty rate has been drastically reduced.

Yeah since few days I think about it and I realized bitcoin can be more efficient than bank transaction.When I transection  money by bank I faced few problem from  Present traditional bank transection which is very irritated for me where bitcoin transection is very comfortable.So in few month peoples realized about it than they attract bitcoin transection.

Other countries should follow the example of Japan. because Japan has tested and reviewed how bitcoin works and until now Japan has not experienced a crisis or any negative things after legalizing bitcoin as a currency there.

Japanese in General good fellows.I have long said that we have much to learn from them.I very much like their political and economic tactics of conducting Affairs of development of the state.it would be good for other countries to switch to this mode of work.There will be economic growth and development of the state and political relations

Bitcoin is obviously more efficient than banks for transactions, because it is peer to peer, so sending bitcoin can directly enter the intended account without complicated procedures. The cost is also very cheap, because large or small nominal costs are the same.

Do you own a bank account? Because a bank transfer is faster than a Bitcoin transaction it cheaper than BTC and it has no hidden charges like you say. Try it.
You don't need transparency for your bank account. Money goes from point A to point B, what transparency do you want?

It can not be stated unequivocally. Too many corrections and clarifications for transactions must be made. For example, a transfer within a country will most likely be cheaper and faster if it is done between bank accounts. But at the same time, a transaction between residents of different countries will most likely be profitable to do with bitcoin, especially if it is a significant amount.

I do not agree with your opinion on this topic. Bitcoin is an anonymous platform to do the transaction. But as you said bitcoin transaction is faster than bank then it is not true. In fact, bank transaction is quicker and it is not take hidden charges.

The most huge and the most potentiating crypto currency of the present time is bitcoin, as bitcoin is always able to prove its worth by helping millions of people around the world and earning them a very good life and is superior from not only crypto currencies but all the kind of investment and moreover from the present currency system also and therefore bitcoin is even considered better way of transactions than these bank system and if everything will go well then bitcoin will obviously replace the present currency system.

Because it is peer to peer, it is clear that bitcoin transactions are faster and more efficient than banks. All bank transactions are recorded and become banking documents, which can be used if there are problems in transactions and also when the government needs them. If a bitcoin transaction has occurred, it cannot be canceled so the loss is borne due to a shipping error. In addition, bitcoin is difficult to track because it is not on behalf of people, but only in the form of code.

banks should be able to utilize bitcoin and also the existence of blockchain technology, the existence of cryptocurrency of course can have a positive impact on the banking system which can reduce operating costs rather than transacting between foreign currencies of other countries, so customers and banks will also benefit

I think yes because bitcoin can convert easily with the same value in different currency price. Banks are so strict about the transaction we need to apply to their office but in bitcoin just download a  wallet and convert it to the desire currency and that's it.

well, maybe you're right, but of course it depends on the usage, it's just that a lot of bitcoin usage is beyond this. that is, if bitcoin is enabled to exceed the bank, of course that is possible, it's just that there are so many other bitcoin functions. like investment, and others.

Its all good but I feel like after a decade if bitcoin is accepted as a mainstream payment system ,the free will increase. Also the trouble is converting fiats into bitcoin, though if we can overlook that,yes it is the fastest and the most efficient way.

Indeed, bitcoin is more efficient to translate if in a country the government has legalized bitcoin. But in many countries, bitcoin is still not as efficient as we know it, because not many banks will accept it. The use of credit cards or others is still believed to be a superior tool for transactions. My hope is that as a bitcoin user, it's better that in the future bitcoin will not be fully accepted.

Do you really believe that Bitcoin will be live a decade later. I don't think it will be. I am sure of new way of payment will be come and we will use it.

Thats right, bitcoin is far more effective than banks. starting from creating an account, you can make wallets anywhere very easily, while banks must need ID card data, and so on. there are many rules in banks while in bitcoin it doesn't. but you are right to beat the bank, it will be very difficult..

We do not need to ask this question. We all know that bitcoin transactions are way faster than traditional payment system. There are also other lot of factors like tax free money transfer world wide and anonymous transactions and many other. If bitcoin properly implemented, can be very effective for the progress of the economy.

I agree, sending or receiving bitcoin will require a very small fee and a very fast time. Compared to sending or receiving money using a conventional payment system. In addition, by using bitcoin, there is no geographical limit

Even though transaction in bitcoin is more faster than transactions in banks. I will still prefer banks than bitcoin. For me banks are more safer than bitcoins.

As long as we can maintain our private key, I believe. Blockchain technology is much safer than the banking system. Maybe because of that, today many banks are starting to consider adopting blockchain technology in their systems

Bitcoin transaction fees cheaper than banks. It's a fact.
Thanks to lightning network and others, Bitcoin and many cryptocurrencies will soon get a massive boost in both speed and cost per transaction.

You are right, it seems that the adoption of bitcoin globally will happen soon. Because, it seems that many countries are starting to consider legalizing bitcoin

Bitcoin has obvious advantages, and is more efficient than bank transactions. First, it has faster time, bitcoin transactions can be done in just a few minutes. Secondly, its costs are cheaper than bank transactions, especially deals from places far away geographically. Moreover, it does not need any third party at all and is not subject to any control. individual or organization

Its not arguable, bitcoin is the future. Banks will not be able to meet up and provide the essential needs for users. In all analysis, bitcoin has all it takes to be widely used because of its transparency, privacy, transaction speed, anonymity which banks dosent have.

Yes I agree btc would be more efficient than bank transactions provided btc is regulated globally. There is no doubt that btc has got absolute good blockchain technology by which the whole network of transactions is solid good. The only my thing what concerns even today is its regulation, rest everything is fine. I also see btc has got cheaper transaction fees compared to the banks and also lightning speed. Let's see how we move ahead in the future.

That's true. More efficient, easy to use and secured as well. Instead of going to bank to withdraw money, you can just use the cashless transaction options from online wallets. You can also earn while at home. Additionally, even 7 year old kid can use Bitcoin with ease.

I think Bitcoin is more effective. However, for widespread use Bitcoin is probably not the number one choice because:
1. Total supply less: 21 million coin
2. Part held by Chinese speculators. It should not be widely accepted globally.
3. Speed ​​is slower than many other types like Xrp or CMT
So, in my opinion, CMT and Xrp is probably the most commonly used coin.

The popularity and volume is with Bitcoin, the only problem with governments accepting Bitcoin is its anonymity feature. Otherwise banks would have been started using it by now.

One of the hallmarks of effective bitcoin is that, in bitcoin transactions, there is no need for a third party or intermediary, which will save costs, and a much faster  speed than  Banking transactions with complicated paperwork.

Banks will not accept cheap bitcoin for the very simple reason that high fees for transactions is how banks earn their money. Why should they refuse from their profit and make the fees lower?
Regarding your statement that btc transactions must be recorded by regulators.. Is this is done, blockchain will lose its main advantage - anonymity and freedom od using one's funds. It will not be blockchain anymore - it will become just another type of conventional financial system.

- I can not deny that bitcoin is actually more efficient than bank transactions when the speed of transactions is quite fast and the distance is the whole world but it is not perfect, sometimes it can happen problems as delay and if we send the wrong address, that money will not be able to retrieve it. People can not fully trust it while banks are very reputable in such matters, they can handle very quickly situations, and therefore, bitcoin can not compete with banks, and banks are not afraid of it as many have said, they are only afraid of solving the problems that bitcoin brings

I agree! On my own opinion bitcoin is more efficient than bank transactions because bitcoin is hassle free. You don't have to go with a very stressfull traffice along the bank and you don't have to waste yor time to the slow transactions to the bank. In bitcoin you the only thing that you need to do is transact online. No more traffic,no more time consumming and no more irratating tellers that we need to face off. We can do our transaction anytine and anywhere and we are the boss in our own transactions. And I hope governnent will see that because I think bitcoin is the solution in everyday problem in our society.

Banking with bitcoin is something different from just buying and selling goods in retail stores like in Japan. There are many rules that need to be followed when sending money via bank (e.g. you need to indicate purpose of payment).
So I don't think such platforms will ever be widespread as hardly any users of bitcoin would like their transactions to be monitored and tracked.

Bitcoin is much more profitable and convenient than banking transactions that take 7 days and do not need to contact a third party for transactions. Everything can be done at home.

Definitely, bitcoin transactions is always efficient more than that of the Bank transactions. With Bitcoin transactions, there are no third parties involved and speed of the transactions is even faster than that of the bank.  With regards to the charges involved in the transactions of bitcoin and that of the bank, bitcoin transactions are cheaper than that of the bank transactions.

Well, as we know that Bitcoin has a lot of positive qualities compared to the traditional system. Now technologies are evolving and they tend to be one level higher than those already existing. In my opinion, there is a future with a decentralized system.

I don't think it's possible if bitcoin is defeated by other coins, we know that price comparisons and bitcoin's popularity with other coins are very far away. bitcoin is also the main cryptocurrency coin which is the main choice of investors, so it's very difficult for other coins to replace bitcoin positions.

I can partly agree with the author of this post. Yes, very often Bitcoin is faster but in case you forget any data or write the wrong wallet the transaction cannot be canceled.

of course it is true, with bitcoin, we can make any transaction everytime and everywhere, we only need our smartphone or laptop, and the transaction cost of bitcoin is really cheaper than Bank

bitcoin can be said to be more efficient than transacting at a bank because I think bitcoin shipping is very fast even between countries between continents and can make transactions around the world quickly even when making very cheap transactions makes bitcoin better and more efficient than banks. Other advantages of recording bitcoin transactions that use blockchain technology also look neater.

Yes there are some advantages of bitcoin compared to banks and this is the reason why others are into bitcoin now, but still a lot of portion of the world believe and support banks and fiat currencies.