advantages of bitcoin

[TriggerX]

Bitcoin is fast. I can send people worldwide some money and it would arrive almost instantaneously or until a block is mined. Also anybody can get into it,there's not really an age restriction and you don't need a oasssoort or anything to start.

[Xester]

It seems a little bit hard.  Okay, one advantage is that you can transfer anywhere you want with less fee to no fees at all and without hassle.  Another one is that there is no need for a lot of information to do transactions because it only requires you to enter the btc address.  Then I think it is more secure because you do not really have to hold actual money, you do not need to give any information.

I think the bank could adopt some feature of bitcoin but it will take time and a lot of research and studies I guess.

[deisik]

It seems a little bit hard.  Okay, one advantage is that you can transfer anywhere you want with less fee to no fees at all and without hassle.  Another one is that there is no need for a lot of information to do transactions because it only requires you to enter the btc address.  Then I think it is more secure because you do not really have to hold actual money, you do not need to give any information.

I think the bank could adopt some feature of bitcoin but it will take time and a lot of research and studies I guess.

By sending coins with less or no fees at all you are putting yourself at the miners' mercy, and since miners are there mostly for profit, you shouldn't expect them to include your transaction without a fee right in the next block found. I've seen miners ignoring transactions even with fees and blocks containing only a few or even just one transaction, so they were intentionally discarding low or no fee transactions. Regarding adopting some bitcoin features by the banks, there is nothing conceptually new in Bitcoin apart from the blockchain which doesn't seem to interest them much...

And if banks do follow the Bitcoin lead (this is a big if, really), that would be mostly thanks to competition

[crairezx20]

Bitcoin is fast. I can send people worldwide some money and it would arrive almost instantaneously or until a block is mined. Also anybody can get into it,there's not really an age restriction and you don't need a oasssoort or anything to start.

Bitcoin is fast depends on your fee.. base in my experience right now we have a set a fee according to electrum that i test if you set low fee or 25 within 2 block it takes more hours to receive unlike max fee it takes few minutes for me to receive but we know it always depends on miners if they confirm it or not. .

[Aamir1]

Bitcoin is fast. I can send people worldwide some money and it would arrive almost instantaneously or until a block is mined. Also anybody can get into it,there's not really an age restriction and you don't need a oasssoort or anything to start.

The point about restriction is actually really a great advantage as what i think, because if a young guy who does not have a National ID or anything like that which makes you able to open bank accounts and all, they can use bitcoin without any hesitation like how i am using it, i still don't have a national identity card but i still earn money and use them because of bitcoin.

[bitbunnny]

For me the bigest advantage of Bitcoin is that I'm not depending on the bank. I realy don't like banks. Unfortunately stil there is some need for them and their services but hope that in the future I will use less and less their services.
The other greate advantage is that has now boundaries and it could be used anywhere in the world and great deal of anonimity when you use it.

[tempo7]

You can transfer your money fast and cheap it is the most important thing i think and also it is international which means you can send bitcoin from pakistan to london for instance it is a special property too.

[Hazir]

If you you use payment processors like Amazon Payments or PayPal then your money will be delivered very fast, instantaneously even.
In most cases faster than bitcoin, considering that bitcoin network is sometimes stuck with large number of unconfirmed transactions.
Same with fees - these service won't collect any fee for sending money to your friends, family and to buy something from eBay, Amazon, Steam or any kind of online service.
So please don't use argument that bitcoin transactions are fast as something exclusive for bitcoin. It is not something outstanding anymore.
With bitcoin you OWN the money, your account can't be frozen, payment reversed or checked if your transaction is 100% legal according to ToS of some service.

[iqlimasyadiqa]

You can transfer your money fast and cheap it is the most important thing i think and also it is international which means you can send bitcoin from pakistan to london for instance it is a special property too.

it is also the reason I use bitcoin. I stayed in the Asia Pacific, and I often shop at American countries. prices there are very cheap compared to my stay now. I love to shop with bitcoin. fast and also cheap cost fee.

[outatime1]

1) bitcoin is not run by a government, bank, or business
2) bitcoin can be sent anywhere almost instantly
3) bitcoin is semi-anonymous
4) you can store your money as bitcoin safely
5) the fees are very low
6) bitcoin is deflationary

[Babayega31]

1) bitcoin is not run by a government, bank, or business
2) bitcoin can be sent anywhere almost instantly
3) bitcoin is semi-anonymous
4) you can store your money as bitcoin safely
5) the fees are very low
6) bitcoin is deflationary

This is absolutely true i agree with the advantages of bitcoin, no government involved it is independent and has its own stand in terms of money security.
Online transaction is really convenience to everyone who use bitcoin, its hastle free all you need is a wallet. Choosing your money to transact though wallet online is safe for your money which i am still using nowadays.

[klopcoin]

Bitcoin is fast. I can send people worldwide some money and it would arrive almost instantaneously or until a block is mined. Also anybody can get into it,there's not really an age restriction and you don't need a oasssoort or anything to start.

Yes I am agree. Bitcoin have so many advantage but for the advantage that make me interested in bitcoin the price that always rise. It is mean that bitcoin is not only such a curren cy but it also a really good investment for me. I do not have huge amount of money to create  my own business. But bitcoin was solve my problem. I can get second resources in bitcoin.

[hajimasan]

please pen down all the advantages of bitcoin over traditional bank system. Also mention if bitcoin system is adoptable for bank system.

since many of advantage of bitcoin but the main part of Profit and beauty is that we can trade with it and can get morr profit and with price increase we get more Profit .
second the most of the best profit is its privacy . we can make transactions with privacy , no one can get our details whether we have made transaction .

[ethereumhunter]

You can transfer your money fast and cheap it is the most important thing i think and also it is international which means you can send bitcoin from pakistan to london for instance it is a special property too.

it is also the reason I use bitcoin. I stayed in the Asia Pacific, and I often shop at American countries. prices there are very cheap compared to my stay now. I love to shop with bitcoin. fast and also cheap cost fee.

and i think for the price, if we compare between using money and bitcoin, i think its more cheap when we using bitcoin to buy something rather than we using real money or credit card or paypal account. i already make compare this when i want to buy electricity voucher and prepaid card voucher and i see there is a big difference when we using bitcoin to pay the amount. i am glad that i can buy it with bitcoin and i just scanning the barcode to sending the payment.

[tee-rex]

You can transfer your money fast and cheap it is the most important thing i think and also it is international which means you can send bitcoin from pakistan to london for instance it is a special property too.

it is also the reason I use bitcoin. I stayed in the Asia Pacific, and I often shop at American countries. prices there are very cheap compared to my stay now. I love to shop with bitcoin. fast and also cheap cost fee.

and i think for the price, if we compare between using money and bitcoin, i think its more cheap when we using bitcoin to buy something rather than we using real money or credit card or paypal account. i already make compare this when i want to buy electricity voucher and prepaid card voucher and i see there is a big difference when we using bitcoin to pay the amount. i am glad that i can buy it with bitcoin and i just scanning the barcode to sending the payment.

Paypal is expensive. Using cash you usually don't pay any fees. Bank cards, on the hand, are not born equal. With a credit card you may need to pay interest, though there may be grace periods when you are basically using the bank money free of charge. And with bank cards in general you may get hefty rebates, so I wouldn't say that Bitcoin transactions are always cheaper, especially if you are paying with bitcoins for your daily needs. Which is not a good idea, either, as for me.

[Mastsetad]

You can transfer your money fast and cheap it is the most important thing i think and also it is international which means you can send bitcoin from pakistan to london for instance it is a special property too.

As you mentioned this is a really great advantage of bitcoin to transfer funds from a country to another without any problems and hesitations and they will receive the money in minutes, and then they can use if for anything they want, whether it is shopping or exchanging to fiat etc.

[deisik]

If you you use payment processors like Amazon Payments or PayPal then your money will be delivered very fast, instantaneously even.
In most cases faster than bitcoin, considering that bitcoin network is sometimes stuck with large number of unconfirmed transactions.
Same with fees - these service won't collect any fee for sending money to your friends, family and to buy something from eBay, Amazon, Steam or any kind of online service.
So please don't use argument that bitcoin transactions are fast as something exclusive for bitcoin. It is not something outstanding anymore

People are still stubbornly claiming that Bitcoin can't exist without fiat, say, the US dollar (even when confronted with the irresistible evidence to the contrary), so what do you expect of them? On the other hand, fiat payments which appear to be instant are instant only because the payment processors are centralized, and there is little to no risk of money being double spent. If we take Coinbase, for example, transfers within this system are also instantaneous...

So it is a moot point really

[Ryananda]

You can transfer your money fast and cheap it is the most important thing i think and also it is international which means you can send bitcoin from pakistan to london for instance it is a special property too.

As you mentioned this is a really great advantage of bitcoin to transfer funds from a country to another without any problems and hesitations and they will receive the money in minutes, and then they can use if for anything they want, whether it is shopping or exchanging to fiat etc.

You're right, we can transfer bitcoin easily between countries. No charges were great and very easy to just minutes. It was indeed one of the advantages of bitcoin. There are a lot of ease and benefits of using bitcoin that we can get.

[TTMNewsK]

One of the advantage of bitcoin for me is its fast transaction with a low fees. That's why we can send and share our bitcoin to our loved ones wherever they are.
As a matter of fact, I use bitcoin sometimes as a physical money like fiat to shop online.
That's the reason why I love bitcoin. It is so useful!

[Capradina]

One of the advantage of bitcoin for me is its fast transaction with a low fees. That's why we can send and share our bitcoin to our loved ones wherever they are.
As a matter of fact, I use bitcoin sometimes as a physical money like fiat to shop online.
That's the reason why I love bitcoin. It is so useful!

It is indeed true and will always be its own characteristic of bitcoin. In addition to the low cost and fast transaction also as a Bank, we can benefit simply by storing the bitcoin or buy low price while bitcoin and save it after it was sold when the price is high. These are not owned by other currencies, so I am sure that bitcoin is going to have a good future and outstanding