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CraigWrightBTC
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November 08, 2016, 08:09:22 AM |
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please pen down all the advantages of bitcoin over traditional bank system. Also mention if bitcoin system is adoptable for bank system.
Bitcoin is very convenient to used for the bitcoin enthusiast, also the best when it comes to charge transaction it is very low fees of charge, and lastly very safe and secured. Yes and the other advantages of bitcoins will become new style of currency and will become new method for payment gateway on every people who shopping activity, although will make long time up to people adopt bitcoins on real transaction. |
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TriggerX
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November 08, 2016, 08:32:55 AM |
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It's safe, quick, and reliable. I can send money to someone in China right now, within a couple of seconds. The transaction fee is also really insignificant and there isn't this centralized government which all of the BTC cycles through.
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Hi!
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Adamsmit556
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November 08, 2016, 08:53:32 AM |
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The biggest advantage now and in the future, in my opinion, is nascent technology around the Bitcoin.
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GregH37
Legendary
 Offline
Activity: 1302
Merit: 1037
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November 08, 2016, 09:53:49 AM |
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to me bitcoin has so many advantages some them are that we can use bitcoin as currency for shopping online or even in our local shops, we can use it for trading and for investment also. we can also use it for transferring funds.
Actually the first point you said : shopping is actually not yet fulfilled completely. I really want to see some shops that accept bitcoins as a payment option, while I am not planning to open up my own shop for this but if I will be getting the chances of some crowdfunding being done I will surely take part in it  |
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Caladonian
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November 08, 2016, 10:43:11 AM |
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to me bitcoin has so many advantages some them are that we can use bitcoin as currency for shopping online or even in our local shops, we can use it for trading and for investment also. we can also use it for transferring funds.
Actually the first point you said : shopping is actually not yet fulfilled completely. I really want to see some shops that accept bitcoins as a payment option, while I am not planning to open up my own shop for this but if I will be getting the chances of some crowdfunding being done I will surely take part in it we still needed to use third party to make some shopping just hoping to see a certain website that will cater direct transaction and fill in our needs for online shopping quality good products. |
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machinek20
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November 08, 2016, 12:15:57 PM |
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For sure bitcoin doesnt do well with bank system, the advantage of using bitcoin over traditional bank is a lot, bitcoin can be used not only for currency but also an investment, the transaction between two party using bitcoin is anonymous and it is easier to set up a wallet than bank account and transferring huge amount using bitcoin wont be a problem
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marleybobthedog
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November 12, 2016, 10:26:44 AM |
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Here are some of my points
1) bitcoin is easy to operate but quit complicated for dumb guys
2) it's quick and can send bitcoin across world
3. It's transaction fee is too low
4) It is pseudonymous and avoids other establishment
5) Being there for now 6-7 years and doing well and already in a position to get international currency
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whizter
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November 12, 2016, 07:37:24 PM |
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please pen down all the advantages of bitcoin over traditional bank system. Also mention if bitcoin system is adoptable for bank system.
Bitcoin is very convenient to used for the bitcoin enthusiast, also the best when it comes to charge transaction it is very low fees of charge, and lastly very safe and secured. There is a different advantages to all users of bitcoin it depends on the way of uses of each users in bitcoin, for me the advantage is i can pay my bills even i am at home and many more. i think bitcoin give equal advantage to all its users, as you can use bitcoin for investment, and can make good profit , you can also use bitcoin as currency you can even do online shopping using bitcoin, bitcoin is also helpful in transaction of money from pne place to another. |
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coinsocieties
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November 12, 2016, 07:41:20 PM |
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The best part about it is that you do not have someone looking over your account and determining what can and can not be done. I was doing a business deal the other deal for 150k and my bank blocked the incoming transaction because they said it is a risky business for them. How is it risky for them, it was my money being transferred in from my Bank of America account to my personal account with them so I could write a cashiers check to purchase a car. The closest bank of america bank branch was 3 hours away from me at that time, so the wire transfer was the easiest way and they blocked the transaction. They can not control bitcoin.
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Multipulty
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November 12, 2016, 10:59:47 PM |
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please pen down all the advantages of bitcoin over traditional bank system. Also mention if bitcoin system is adoptable for bank system.
Bitcoin is very convenient to used for the bitcoin enthusiast, also the best when it comes to charge transaction it is very low fees of charge, and lastly very safe and secured. There is a different advantages to all users of bitcoin it depends on the way of uses of each users in bitcoin, for me the advantage is i can pay my bills even i am at home and many more. i think bitcoin give equal advantage to all its users, as you can use bitcoin for investment, and can make good profit , you can also use bitcoin as currency you can even do online shopping using bitcoin, bitcoin is also helpful in transaction of money from pne place to another. The best thing about bitcoin is that you can transfer money across the globe with just a mouse click and with minimum fees and there are no public holidays in bitcoin transactions and its available 24/7 and for the same reason majority of people are attracted towards bitcoins as it gives us rid from the banking system and other payment methods which involves huge fees. |
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Sled
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November 13, 2016, 12:08:03 AM |
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please pen down all the advantages of bitcoin over traditional bank system. Also mention if bitcoin system is adoptable for bank system.
Bitcoin is very convenient to used for the bitcoin enthusiast, also the best when it comes to charge transaction it is very low fees of charge, and lastly very safe and secured. There is a different advantages to all users of bitcoin it depends on the way of uses of each users in bitcoin, for me the advantage is i can pay my bills even i am at home and many more. i think bitcoin give equal advantage to all its users, as you can use bitcoin for investment, and can make good profit , you can also use bitcoin as currency you can even do online shopping using bitcoin, bitcoin is also helpful in transaction of money from pne place to another. The best thing about bitcoin is that you can transfer money across the globe with just a mouse click and with minimum fees and there are no public holidays in bitcoin transactions and its available 24/7 and for the same reason majority of people are attracted towards bitcoins as it gives us rid from the banking system and other payment methods which involves huge fees. That is right, Bitcoin gives as freedom to send and receives bitcoin around the world and it only charges small fee. One of the other advantages of bitcoin is the security because in bitcoin you can send and receives bitcoin without risking your identity and also bitcoin can be use to as a secondary source of income which can help us financially. |
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Zalfrin
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November 13, 2016, 12:17:49 AM |
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please pen down all the advantages of bitcoin over traditional bank system. Also mention if bitcoin system is adoptable for bank system.
Bitcoin is very convenient to used for the bitcoin enthusiast, also the best when it comes to charge transaction it is very low fees of charge, and lastly very safe and secured. There is a different advantages to all users of bitcoin it depends on the way of uses of each users in bitcoin, for me the advantage is i can pay my bills even i am at home and many more. i think bitcoin give equal advantage to all its users, as you can use bitcoin for investment, and can make good profit , you can also use bitcoin as currency you can even do online shopping using bitcoin, bitcoin is also helpful in transaction of money from pne place to another. The best thing about bitcoin is that you can transfer money across the globe with just a mouse click and with minimum fees and there are no public holidays in bitcoin transactions and its available 24/7 and for the same reason majority of people are attracted towards bitcoins as it gives us rid from the banking system and other payment methods which involves huge fees. That is right, Bitcoin gives as freedom to send and receives bitcoin around the world and it only charges small fee. One of the other advantages of bitcoin is the security because in bitcoin you can send and receives bitcoin without risking your identity and also bitcoin can be use to as a secondary source of income which can help us financially. Yeah and its very hard to point out a single advantage of bitcoins as there are multiple advantages attached with it, money transfers is one of them and most of the people are using bitcoins only because they can gamble easily without disclosing their identity and any involvement from third party. |
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agamasrori
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November 13, 2016, 01:42:19 AM |
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Here are some of my points
1) bitcoin is easy to operate but quit complicated for dumb guys
2) it's quick and can send bitcoin across world
3. It's transaction fee is too low
4) It is pseudonymous and avoids other establishment
5) Being there for now 6-7 years and doing well and already in a position to get international currency
Yeah people have different IQ, bitcoin fee lower than credit card fee, after new president of america has choosed it will affect bitcoin price. It is mean that bitcoin is good for currency or investment. |
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groll
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November 20, 2016, 02:27:46 PM |
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please pen down all the advantages of bitcoin over traditional bank system. Also mention if bitcoin system is adoptable for bank system.
Bitcoin is very convenient to used for the bitcoin enthusiast, also the best when it comes to charge transaction it is very low fees of charge, and lastly very safe and secured. I agree!bitcoins is very convenient to use. One of the major advantage that i want in using bitcoins was It cannot be traced. This is another advantage of Bitcoin. Once the seller gets the money, it cannot go back to the buyer by any means. This is important because no government can trace the source of your funds.bitcoins transaction are quick and easy. Bitcoin is portable: With the current major currencies, it is difficult to carry around large amounts of money. Cash amounting to millions is risky to carry for several reasons, which is why Bitcoin investors prefer it to other currencies. With Bitcoin, you can easily carry around a million dollars worth of Bitcoin in a memory card. |
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bL4nkcode
Copper Member
Legendary
Offline
Activity: 2142
Merit: 1305
Limited in number. Limitless in potential.
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November 20, 2016, 02:42:48 PM |
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please pen down all the advantages of bitcoin over traditional bank system. Also mention if bitcoin system is adoptable for bank system.
There are so many advantages of bitcoin one of my best is the lower fee of transactions and you can read also some those here https://bitcoin.org/en/faq#what-are-the-advantages-of-bitcoinI don't think if bitcoin is adoptable for bank system as what I know bitcoin is already your own bank , but I heard some news that some country's bank want to use blockchain system. |
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tabas
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November 20, 2016, 04:51:37 PM |
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please pen down all the advantages of bitcoin over traditional bank system. Also mention if bitcoin system is adoptable for bank system.
There are so many advantages of bitcoin one of my best is the lower fee of transactions and you can read also some those here https://bitcoin.org/en/faq#what-are-the-advantages-of-bitcoinI don't think if bitcoin is adoptable for bank system as what I know bitcoin is already your own bank , but I heard some news that some country's bank want to use blockchain system. It can be adopted for a banking system and the news that you are referring is all about the news about Switzerland's Central Bank that is planning to accept bitcoin. You can just refer and redirected to this thread : https://bitcointalk.org/index.php?topic=1685326.0;all but if this happens the only advantage of bitcoin will get through it is popularity and adoption. But for us, users of bitcoin this is not a good one because bank will know our transactions and identities. |
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deisik
Legendary
Offline
Activity: 3444
Merit: 1280
English ⬄ Russian Translation Services
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November 20, 2016, 05:01:37 PM |
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please pen down all the advantages of bitcoin over traditional bank system. Also mention if bitcoin system is adoptable for bank system.
There are so many advantages of bitcoin one of my best is the lower fee of transactions and you can read also some those here https://bitcoin.org/en/faq#what-are-the-advantages-of-bitcoinI don't think if bitcoin is adoptable for bank system as what I know bitcoin is already your own bank , but I heard some news that some country's bank want to use blockchain system. It can be adopted for a banking system and the news that you are referring is all about the news about Switzerland's Central Bank that is planning to accept bitcoin. You can just refer and redirected to this thread : https://bitcointalk.org/index.php?topic=1685326.0;all but if this happens the only advantage of bitcoin will get through it is popularity and adoption. But for us, users of bitcoin this is not a good one because bank will know our transactions and identities. I don't think that would be a big deal If you don't love banks and are not going to use their Bitcoin services, which they might start to offer, you can still transact directly. Many if not most users don't particularly care if banks will know their identities since they are most likely already using this or that bank for making online payments as well as sending and receiving money (say, wages). I don't think either that banks would require some extraordinary personal info (e.g. your private videos) that they don't require already, for example, when you open a bank account. So what's the difference really? |
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Mastsetad
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November 20, 2016, 05:13:56 PM |
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It's safe, quick, and reliable. I can send money to someone in China right now, within a couple of seconds. The transaction fee is also really insignificant and there isn't this centralized government which all of the BTC cycles through.
That is actually one of the biggest advantages of bitcoin, before bitcoin people used to be worried about sending money to someone to another country as they would have to pay a lot of fees etc for that but now with bitcoin you can send them easily in minutes without any big fees. |
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rapazev
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November 20, 2016, 06:16:11 PM |
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to me, the simple fact that i'm in control of my money is enough.
being depend of banks really sucks, i've already had some problems before with this(had money in my account but couldn't expend because the bank messed up things).
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Shenzou
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November 20, 2016, 06:48:32 PM |
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When it comes to bitcoin there are many advantages but the best one are that bitcoin has no fees when transfer sending and receiving bitcoin is faster unlike other currency and when it comes to security bitcoin is much safer to use than the other bank accounts since one's bitcoin address keeps changing over time plus bitcoin wallets is much easier to use than credit cards
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