Why do you use Bitcoin? A report to determine it's competitive advantages.

[alex0909]

Excellent poll choices. I wish there was a choice for "side step KYC", but I guess "decentralization" and "ease of access" covered that.

Thanks ! I appreciate, but i also had nice inputs from the community.

Perhaps we need a definition of what "low transaction fees" means. Low compared to other payment methods? For what amount?

Because personally I would consider even $5 / tx to be a low transaction fee. Others may think 0.2$ / tx is no longer a low transaction fee.

My point of view, is that transaction fees does not include the block subsidy of 25 BTC. It is the small network fee that would speed up the process. I consider that as long as it is ten times cheaper than CC's it is a valide point.

My report points out the huge fees and risk of credit cards.

Keep the votes coming

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[faridkifly]

i use bitcoin because it's like part time job for me
i earn bitcoin for what i want like jeans,sneakers,etc

[johnsson93]

Good Evening!


For my part, it's only an experimental Investment at the moment but i appreciate the ideas behind the whole system. Fast and low-cost transactions are really a valuable argument that make bitcoin interesting. Although i almost never use it to really pay something, i would definitely consider to do it in the future. Concerning the point "Ease of access" I would suggest that there are still a lot of developments to come, as far as i can not imagine people of an older generation using it for the moment because it still stays quite complex if you don't have enough technical knowledge or basics.

[Patatas]

I use bitcoin because I want to earn anonymously online. It's also a good investment and I like low transaction fees of bitcoin

[MinerHQ]

I use bitcoin because I want to earn anonymously online. It's also a good investment and I like low transaction fees of bitcoin

Because it is fast and less fee for online transactions. No need to wait for few hours to few days to receive or send money.

[TPTB_need_war]

I use bitcoin because I want to earn anonymously online. It's also a good investment and I like low transaction fees of bitcoin

I love you because I am formerly AnonyMint and since 2013 my goal has been to add more anonymity to cryptoland. Thanks for validating my thesis about a coming glorious, anonymous Knowledge Age.

[Andy4.4]

I use bitcoins because they provide anonymity, easily accessible and with low transaction fees.
I don't like PayPal or any other methods because we have to give them our personal information and also that the transaction fee is very high.

[eternalgloom]

Low transaction fees and easy of access.
For me it's much easier and faster to get some Bitcoins than it is to get money on my Paypal account.

I do not own a credit card, so that might have something to do with it

[TPTB_need_war]

What I see people essentially saying in this thread is that Bitcoin is autonomous. They can get access to it, spend as anonymously as they take the care to obscure their IP address, and use it without any permission or without obtaining any account with some authority. In short, permission-less commerce (do what you like, no big brother with his dick up your ass!). Most of the terms above fall under the "autonomy" umbrella taxonomy.

In my case, I don't have a utility bill matching my current address because I rent. And so I can't comply with the asinine Patriot Act KYC identification requirements that exchanges and financial institutions impose. So no worries, I just go place a buy order on localbitcoins, then go deposit some cash in a local bank and I get the BTC released an hour or so later.

Later as the bankrupted Western governments start to limit more how much money you can get out per day from your ATM account (e.g. Greece is an example of what is coming to every Western nation because they are all broke), then if you are holding crypto-currency you can sidestep these restrictions.

However, do note that Bitcoin is not reliably anonymous (unless you are for example connecting via a unregistered, public WiFi connection) as your IP address can be traced back to your identity (and Tor and I2P don't really stop the national security agencies from tracking your identity on the block chain) and so the authorities will one day in the future be clawing back against you prosecuting you for violating their regulations by using Bitcoin.

This is why I (formerly username AnonyMint since 2013) support the development of altcoins with more robust built in anonymity. Many users will not appreciate the need for this until later when so many Bitcoin users are being busted for past activity all stored on the block chain.

[Mickeyb]

Ease of access, constant availability and low transaction fees are my 3 picks. This is where Bitcoin would beat by far Fiat and this is why Bitcoin will survive and be competitive in the future. My money should be there when I want it and I should be able to spend it when and how I want it. About the transaction fees I don't even wanna spend words, we all know that current banking fees are outrageous.

I am not saying Bitcoin doesn't have drawbacks at the moment, but we are all here working hard to iron all these drawbacks.

[TPTB_need_war]

Ease of access, constant availability and low transaction fees are my 3 picks. This is where Bitcoin would beat by far Fiat and this is why Bitcoin will survive and be competitive in the future. My money should be there when I want it and I should be able to spend it when and how I want it.

Autonomy again. Thanks.

[alva5763]

I use it as investment and earning. A mixture of hold,trade and lending.

[alex0909]

Interesting thoughts from all of you.

What we can say for sure is that Bitcoin has various appealing advantages. Or that at least the perception of these advantages are very different.

Closing the poll in a few days. My report will be submited in early september, i will post some results here if there is interest.


Vote vote vote

[HarHarHar9965]

Scarcity and near-instant transactions are also considered a prime reason for bitcoin's most highlighted advantages, that's amazing. I have always liked bitcoin for respecting privacy and maintaining anonymity. Of course there are a lot of advantages, all that pros and cons whatever, but I support it mainly for the idea of a decentralized currency, the digitization of an analog world.

[ashour]

I voted anonymity. I want to be able to buy something without having to give a copy of my ID, get finger scanned, give a DNA probe. Bitcoin allows me to pay fast and anonymous.

[mouneshwar123]

No government has control over it, only demand and supply can change the value of Bitcoin. paper currencies can be printed without any limits. Ease of use is the another reason why I prefer Bitcoin.

[zodiac3011]

I have to I use it mainly to make money Besides that I can buy a lot of things without paying a lot of TX fees as well as not have to wait for ages

[neochiny]

Good evening fellow Bitcoiners,

I am writing a research paper on the dematerialization of Money for a business case.

We need you Bitcoiners to answer this question and if you feel that something is missing, let me know !

I feel that Bitcoin will thrive because consumers/users will embrace the currency if they find some use to it. It is a superior form of payment even if it is not ready for mainstream applications yet.

What are your thoughts about it?

Thanks

Near-Instant transactions
Anonymity
Low Transaction Fees
Ease of access

This four are the advantages for me i love it because of its near instant transaction and low transaction fee.
and sometime i can buy some goods with bitcoin which is cheaper than the original price.

[coingiant1]

Anonymity and Less transaction fees.
in future there will be a day when I can buy anything and everything with BitcoinBTC

[LuckyYOU]

For sure the main reason for people to get into bitcoin will be the Low Transaction Fees, while others choose privacy. But that's not the best in my perception.

The best reason to use bitcoin is because you controll it. No bank who can devalue your currency, no bank who can run away with your money (Cyprus), just own it and nobody can touch it (if you protect it offcourse).