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Author Topic: Why Should I Choose Bitcoin ??  (Read 34165 times)
Xester
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February 17, 2017, 10:30:51 AM
 #201

I think you should choose Bitcoin because of the No or low fees per transactions, it is easily accessible and that's what makes some of us feel that we have our own banks on the desktop. It is very important to also note that Bitcoin is secured and offer quicker secured transactions worldwide and makes nonsense of fiat remittances. This and others makes me opt for Bitcoin over the others.

Bitcoin is more convenient to use. You dont need to travel far to get into the banks so you can make a transaction done. With bitcoins with just at the comfort of your home, without spending your time and money for travelling , by just having an internet connection you can make traat nsactions such as purchasing goods online or paying bills and many more. Aside from that you will save a lot of money from surcharges and transaction fees that banks has.

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February 17, 2017, 10:39:15 AM
 #202

Global currency is devalued, and bitcoin has unlimited appreciation potential. As an investment, bitcoin is the best choice.
but not as a currency with scaling problem and a lot of the legitimate reason was touching bitcoin. Bitcoin really good as our investment place.

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February 17, 2017, 10:46:57 AM
 #203

For me I choose bitcoin because of the number 2 statement it has low fees ! many times I need to constantly send money to my relatives that far away from us so sending mkney from over and over again will cause me huge amount of money , bitcoin is a great help for me and also bitcoin is also an investment that why I choose bitcoin because I love investments
These days they say the network is over crowded and so entailing huge volume of transactions to be on queue for far too long, that #2 - No expenses/low charges is fast becoming an illusion. I had paid two days ago a fee of 0.0008BTC, to have a transaction go through under normal speed, which means would have cost much more for a speed transaction and all these preferential confirmations are not for the good of Bitcoin and the community.
A day ago I also paid a high amount of bits for the transaction. I paid more than 0.0009 for one of my transaction and still it took more than a few minutes to complete the transaction. But I do not felt it as any issue for me because bitcoin already have a high profit for me and I would not have that money if theer was not bitcoin or if I would not choose bitcoin.
Only few consider the delay in confirmation as an issue. Most user who have the understanding and trust never lets it down. There is no  flaws in transaction, things go wrong only when we make mistakes. Using bitcoin you can earn good with the price movement just by holding. Also the technology behind it is in the peak, if you're good in it recruiters will give you a pay that you could have got from day job. It is the life provider for the one who trusts and works with it.
You happen to be the only bitcoiner that I know, who is not bothered about the so much delay in confirmation of a transaction. Here we are wishing that many more merchants should embrace Bitcoin as means of payment and then imagine a situation where, a merchant is going to have to wait for almost 24 hours before a transaction goes through! Is that a step forward suitable for the 21st century or a leap back to the stone age?

Lightning Network should fix this issue

Provided it gets accepted in the first place. On the other hand, delays are greatly dependent on the fee, with higher fees confirmation times are pretty close to what they should conceptually be, i.e. 10 minutes between confirmations on average. And we can't blame Bitcoin for this since this how it was conceived, but that, of course, doesn't mean that the things shouldn't be changed in the future and remain as they are. Just decreasing the time between confirmations won't help much and surely not the way to go. As to me, 10 minutes is still pretty fast and we already have tools developed that make transactions instant without changing Bitcoin too much (up to a point where it will be considered as an altcoin)

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February 17, 2017, 11:23:09 AM
 #204

Global currency is devalued, and bitcoin has unlimited appreciation potential. As an investment, bitcoin is the best choice.
but not as a currency with scaling problem and a lot of the legitimate reason was touching bitcoin. Bitcoin really good as our investment place.

It is a good place to invest and besides of unlimited appreciation potential, there is an unlimited opportunities depending on your skills and what you know to do. And thinking as an investment, this is the best investment because of doing effortless you can have the chance to grow your money. When its supply limit reached, the advantage is on you.

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February 17, 2017, 11:54:57 AM
 #205

I was thinking about getting a few thousand dollars and wait for it's value against my local currency rise and then sell to profit but I can only earn 1-2% while buying bitcoin there is a 10-15% potential profit, show me something like that.

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February 17, 2017, 04:29:02 PM
 #206

I chose bitcoin for directing us to the gates of world financial freedom.

I think there will be countries that actually use bitcoin currency fully as central by using regulation that doesn't burden everyone (third world countries), and from these countries will present a bitcoin bank that upholds freedom and security.


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February 17, 2017, 05:41:45 PM
 #207

I think you need to chose bitcoin first of all cause it hasn't inflation and it's price is growing. Look at China, many people there already moved part of their capitals in bitcoin, cause of the fall of their national currency. It's more profitable to them to move money in bitcoins and then exchange it in some other currency like dollar, which is doesn't fall, but only growing.

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February 17, 2017, 05:53:05 PM
 #208

Why Should I Choose Bitcoin ??
                                                It's the first question one should face while starting to deal in bitcoins and answer this will satisfies you to choose bitcoin over others. Some of the benefits that Bitcoin have over other includes :

1-Quick transactions – Bitcoin is transferred quickly over the Internet.
2-No expenses/low charges – Unlike credit cards, Bitcoin can be utilized for nothing or low costs.. This enhances revenues margins deals.
3-International installments – Bitcoin is used all over the globe; e-commerce sellers and service suppliers can easily agree to take international payments. Which uncovered new potential commercial centers for them.
4-Information is secure – As we have seen with late hacks on general retailers’ disbursement processing systems, the Internet is not generally a secure place for private information. With Bitcoin, clients don’t surrender private data.
5-Much More Easier – Bitcoin is Much more easier rather than we think.Means to say It’s Much more easier than transfering a Payment from bank account From bitcoin you can even transfer a Payment in few clicks even While listening songs.
-Hope this will help you in believing Bitcoins !
Yeah you are definitely right,
And also there is no age restriction so any one can use it.

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February 17, 2017, 05:57:56 PM
 #209

I chose bitcoin for directing us to the gates of world financial freedom.

I think there will be countries that actually use bitcoin currency fully as central by using regulation that doesn't burden everyone (third world countries), and from these countries will present a bitcoin bank that upholds freedom and security.
I don't think it is a good idea to use bitcoin as a currency as the price changes can cause lot's problem if one is selling items in a store.
I prefer a better idea would be to introduce bitcoin as one the payment method. And i don't think there will actually be any country which
will allow us to use bitcoin without any burden

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February 17, 2017, 06:06:42 PM
 #210

I think you should choose Bitcoin because of the No or low fees per transactions, it is easily accessible and that's what makes some of us feel that we have our own banks on the desktop. It is very important to also note that Bitcoin is secured and offer quicker secured transactions worldwide and makes nonsense of fiat remittances. This and others makes me opt for Bitcoin over the others.
But according to the previous experience with bitcoin but the increase fees on bitcoin is unpredictable. But I still consider it include the cheap fees. Well, bitcoin is not 100% secured but it's just give more privacy for the users of bitcoin itself. not preventing from the fraudsters.
Even if the fees inceeases who cares I think the current fees is still fine I mean I barely see any money going while receiving and also as long as the fees isn't like PayPal or other payment methods I really don't care. And about security bitcoin is really secure but that totally depends where you are storing. I never used a desktop one because I never felt ir safe I think storing on coinbase is perfect.
Totally agree, the current fess is still not noticeable, they are still low compared to bank account transfers or PayPal that takes a big chunk of your transaction, the only thing that I can complain about in the bitcoin transaction is that they are becoming slower but still they are faster than PayPal.














 

 

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royalfestus
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February 17, 2017, 06:10:14 PM
 #211

Some will start using bitcoin because it is getting popular "My friend is using it I want to use it". Which comes from the trust level of owners that led to large number of acceptability. Which I suppose could be the last factor at the later days of its spread among new users.

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February 17, 2017, 06:13:30 PM
 #212

I chose bitcoin for directing us to the gates of world financial freedom.

I think there will be countries that actually use bitcoin currency fully as central by using regulation that doesn't burden everyone (third world countries), and from these countries will present a bitcoin bank that upholds freedom and security.
I don't think it is a good idea to use bitcoin as a currency as the price changes can cause lot's problem if one is selling items in a store.
I prefer a better idea would be to introduce bitcoin as one the payment method. And i don't think there will actually be any country which
will allow us to use bitcoin without any burden
It can be happen since bitcoin is already acceptable by many website and i think it can be possible bitcoin accepted in some items we know the price is always changing but it is depends of the seller if they can sell it fast soon or wait for the price increase and dont extact their earnings in bitcoin and exchange it into bitcoin after a day so that they will not lose in accepting bitcoin.. many ways to accept it even the price is not stable..

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February 18, 2017, 05:54:05 AM
 #213

I chose bitcoin for directing us to the gates of world financial freedom.

I think there will be countries that actually use bitcoin currency fully as central by using regulation that doesn't burden everyone (third world countries), and from these countries will present a bitcoin bank that upholds freedom and security.
I don't think it is a good idea to use bitcoin as a currency as the price changes can cause lot's problem if one is selling items in a store.
I prefer a better idea would be to introduce bitcoin as one the payment method. And i don't think there will actually be any country which
will allow us to use bitcoin without any burden
i think some areas people are already using bitcoin as currency. because in some place there are shops who accept bitcoin for shopping. they first convert the price in to fiat and then accept bitcoin for that items. i think it is not such a difficult job and everyone can do that very easily.

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JL421
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February 18, 2017, 06:31:42 AM
 #214

I think you should choose Bitcoin because of the No or low fees per transactions, it is easily accessible and that's what makes some of us feel that we have our own banks on the desktop. It is very important to also note that Bitcoin is secured and offer quicker secured transactions worldwide and makes nonsense of fiat remittances. This and others makes me opt for Bitcoin over the others.
But according to the previous experience with bitcoin but the increase fees on bitcoin is unpredictable. But I still consider it include the cheap fees. Well, bitcoin is not 100% secured but it's just give more privacy for the users of bitcoin itself. not preventing from the fraudsters.
Even if the fees inceeases who cares I think the current fees is still fine I mean I barely see any money going while receiving and also as long as the fees isn't like PayPal or other payment methods I really don't care. And about security bitcoin is really secure but that totally depends where you are storing. I never used a desktop one because I never felt ir safe I think storing on coinbase is perfect.
Totally agree, the current fess is still not noticeable, they are still low compared to bank account transfers or PayPal that takes a big chunk of your transaction, the only thing that I can complain about in the bitcoin transaction is that they are becoming slower but still they are faster than PayPal.
If you transfer to bank account in your locality itself it's cheap and also you are wrong for now PayPal transaction are way faster than bitcoin. Normally bitcoin used to take 20 min to confirm but from past few days it is really slow and PayPal doesn't do any sort of delay if someone sends you you get an email instantly and money is shown in your account the only delay we face is the transaction takes time to shown in the account.

deisik
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February 18, 2017, 02:39:40 PM
 #215

I think you should choose Bitcoin because of the No or low fees per transactions, it is easily accessible and that's what makes some of us feel that we have our own banks on the desktop. It is very important to also note that Bitcoin is secured and offer quicker secured transactions worldwide and makes nonsense of fiat remittances. This and others makes me opt for Bitcoin over the others.
But according to the previous experience with bitcoin but the increase fees on bitcoin is unpredictable. But I still consider it include the cheap fees. Well, bitcoin is not 100% secured but it's just give more privacy for the users of bitcoin itself. not preventing from the fraudsters.
Even if the fees inceeases who cares I think the current fees is still fine I mean I barely see any money going while receiving and also as long as the fees isn't like PayPal or other payment methods I really don't care. And about security bitcoin is really secure but that totally depends where you are storing. I never used a desktop one because I never felt ir safe I think storing on coinbase is perfect.
Totally agree, the current fess is still not noticeable, they are still low compared to bank account transfers or PayPal that takes a big chunk of your transaction, the only thing that I can complain about in the bitcoin transaction is that they are becoming slower but still they are faster than PayPal

This is not quite so

The major difference between bank fees and Bitcoin fees comes from the fact that fees on bank transfers are calculated in percentages while confirmation fees in Bitcoin are closer to absolute values depending on the size of the transaction, i.e. not on the amount transacted. In this way, if you transact small amounts using Bitcoin, your transaction fees may be higher in both relative and absolute terms than if you were transacting the same amount (say, in dollar terms) via a bank transfer. On the other hand, many banks set a limit on the upper value of fees, and if you transfer an amount above a certain total, your fees will remain the same irrespective of the amount transferred

SilverM8
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February 18, 2017, 03:34:40 PM
 #216

I read so much about Bitcoin being decentralized, low transaction fees and virtually instantaneous... REALLY!!!
I have been using and learning as much as possible about bitcoin over the last couple years and there is one very big elephant in the room.. It is controlled - just not by governments or banks or so we think... the miners and exchanges are not really all that regulated, so their greed will get the better of BTC in the end. I tried moving my BTC from my electrum wallet to an exchange 12 hours ago...still waiting for confirmation because I did not pay enough of a fee... sound familiar??!
deisik
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February 18, 2017, 03:46:12 PM
 #217

I read so much about Bitcoin being decentralized, low transaction fees and virtually instantaneous... REALLY!!!
I have been using and learning as much as possible about bitcoin over the last couple years and there is one very big elephant in the room.. It is controlled - just not by governments or banks or so we think... the miners and exchanges are not really all that regulated, so their greed will get the better of BTC in the end. I tried moving my BTC from my electrum wallet to an exchange 12 hours ago...still waiting for confirmation because I did not pay enough of a fee... sound familiar??!

This is what you should have expected

Transaction fees are no longer low. In fact, if you are transacting small amounts, the fees may be even higher in dollar terms than what you would pay if you tried to transfer the same amount via a regular bank (using fiat). In this aspect, Bitcoin becomes sort of elitist asset (like Berkshire Hathaway stock which is worth over 250k dollars per share). I don't really know if this bodes good or bad for Bitcoin in the long run, but microtransactions using it are basically done with today

Erza
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February 19, 2017, 06:51:21 AM
 #218

I chose bitcoin for directing us to the gates of world financial freedom.

I think there will be countries that actually use bitcoin currency fully as central by using regulation that doesn't burden everyone (third world countries), and from these countries will present a bitcoin bank that upholds freedom and security.
I don't think it is a good idea to use bitcoin as a currency as the price changes can cause lot's problem if one is selling items in a store.
I prefer a better idea would be to introduce bitcoin as one the payment method. And i don't think there will actually be any country which
will allow us to use bitcoin without any burden
i think some areas people are already using bitcoin as currency. because in some place there are shops who accept bitcoin for shopping. they first convert the price in to fiat and then accept bitcoin for that items. i think it is not such a difficult job and everyone can do that very easily.

Yeah that is true but if you compare to all people in this world, the use of bitcoin is still a little bit and shop that accept bitcoin is less too. ATM also take only tiny part in this bitcoin, to make sure bitcoin is going to rise we really need to attract more people into it. This is the only way to make sure bitcoin will take care of everything  and it will answer OP question why people need some bitcoin
Aamir1
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February 19, 2017, 07:26:29 AM
 #219

I read so much about Bitcoin being decentralized, low transaction fees and virtually instantaneous... REALLY!!!
I have been using and learning as much as possible about bitcoin over the last couple years and there is one very big elephant in the room.. It is controlled - just not by governments or banks or so we think... the miners and exchanges are not really all that regulated, so their greed will get the better of BTC in the end. I tried moving my BTC from my electrum wallet to an exchange 12 hours ago...still waiting for confirmation because I did not pay enough of a fee... sound familiar??!

This is what you should have expected

Transaction fees are no longer low. In fact, if you are transacting small amounts, the fees may be even higher in dollar terms than what you would pay if you tried to transfer the same amount via a regular bank (using fiat). In this aspect, Bitcoin becomes sort of elitist asset (like Berkshire Hathaway stock which is worth over 250k dollars per share). I don't really know if this bodes good or bad for Bitcoin in the long run, but microtransactions using it are basically done with today

I don't know why people face such problems, i personally never faced any problems of transactions with bitcoins though i have sent as low as 0.0012 bitcoins to people or sites for small services. It only happens with one out of hundred and people take it so seriously that they start panicking and start blaming bitcoin for not having low fees anymore, but if we compare it to other payment processors, it is still the best.



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justdimin
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February 19, 2017, 07:58:45 AM
 #220

Some will start using bitcoin because it is getting popular "My friend is using it I want to use it". Which comes from the trust level of owners that led to large number of acceptability. Which I suppose could be the last factor at the later days of its spread among new users.
When an individual is not able to find out the advantages and potentials of one system why not we just go with his friend's recommendation. I believe many people are already going this way, with the respect to bitcoin they will be safer all the times unlike any other system. I have read many people have got into bitcoins just due to their friends. The time will justify the rightness of their decisions.

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