advantages of bitcoin

[mrcash02]

The aspect I most like about bitcoin is its anonymity. Anyone can start using BTCs from any place of the world (some countries maybe not, their governments don't like crypto-currencies). But for me it works well.

The practical when we want to make transactions also, it's fast and we don't need to pay high fees like on banks. Acessibility of Bitcoin is awesome.

[Hirose UK]

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

it's easy to be accessed wherever and whenever as long as we have internet connection; we can control our own bank, no interest at all, it's secure (as long as we use security tools), and it cannot be blocked by typing the wrong password three times.

[Indrawan77]

I prefer bitcoin payment because it isneasy to set up a wallet, i don't need to queue in the bank and reveal my identity so the government won't be able to know my wealth, and then when i send huge amount of bitcoin there won't be any question asked

[agamasrori]

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

it's easy to be accessed wherever and whenever as long as we have internet connection; we can control our own bank, no interest at all, it's secure (as long as we use security tools), and it cannot be blocked by typing the wrong password three times.

It's also simplier and practicaly. We do not need to pay high monthly cost, so Your amount of bitcoin would not decrease every month. bitcoin is such as an investment too, we always have a good future if own bitcoin in our walllet. there are so much advantage of using bitcoin like the anonimity, security, free from centralization and all what we need is smartphone
plus Internet Connection.

[ajun96]

I prefer bitcoin payment because it isneasy to set up a wallet, i don't need to queue in the bank and reveal my identity so the government won't be able to know my wealth, and then when i send huge amount of bitcoin there won't be any question asked

bitcoin really provide privacy for all your finances. and you take full responsibility for yours bitcoin, bitcoin has a system in which no one can control you, so if you want a confidentiality you can use bitcoin to major currencies

[jerowacik]

a lot of advantages in using bitcoin. one of which is that we can save time and energy in daily activities. using bitcoin can facilitate every transaction we do.

[JeffBrad12]

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

it's easy to be accessed wherever and whenever as long as we have internet connection; we can control our own bank, no interest at all, it's secure (as long as we use security tools), and it cannot be blocked by typing the wrong password three times.

All of your said are the disadvantages of using the bank. but i just hate the ending of your sentences just wrong for typing a password and my account is get blocked from the bank that's so fuckin.

[Qunenin]

The aspect I most like about bitcoin is its anonymity. Anyone can start using BTCs from any place of the world (some countries maybe not, their governments don't like crypto-currencies). But for me it works well.

The practical when we want to make transactions also, it's fast and we don't need to pay high fees like on banks. Acessibility of Bitcoin is awesome.

You know in my country, my government don't accept the bitcoin, even any crypto currency, but still my few peoples are using bitcoin and working on it, because we convert our bitcoins into USD, thats why it doesn't matter that our government accept it or like it or not.

[Caladonian]

The aspect I most like about bitcoin is its anonymity. Anyone can start using BTCs from any place of the world (some countries maybe not, their governments don't like crypto-currencies). But for me it works well.

The practical when we want to make transactions also, it's fast and we don't need to pay high fees like on banks. Acessibility of Bitcoin is awesome.

You know in my country, my government don't accept the bitcoin, even any crypto currency, but still my few peoples are using bitcoin and working on it, because we convert our bitcoins into USD, thats why it doesn't matter that our government accept it or like it or not.

it might be accept by government if people will proceed and keep using it and show many advantages like what our other mates provided to us, bitcoin will be adopted in due time since people always seek for good investment that will bring them good profits.

[buxlover]

The aspect I most like about bitcoin is its anonymity. Anyone can start using BTCs from any place of the world (some countries maybe not, their governments don't like crypto-currencies). But for me it works well.

The practical when we want to make transactions also, it's fast and we don't need to pay high fees like on banks. Acessibility of Bitcoin is awesome.

You know in my country, my government don't accept the bitcoin, even any crypto currency, but still my few peoples are using bitcoin and working on it, because we convert our bitcoins into USD, thats why it doesn't matter that our government accept it or like it or not.

Exchanging bitcoin to fiat currency might be the important aspect at current situation, but someday we will reach a position where we need not convert bitcoin to fiat since all services and goods available to purchase through bitcoin locally, i hope that day comes sooner before the bitcoin price reaches $1000, Else usage of bitcoin locally will never happen because of the mining fees.

Till now government acceptance is not required for bitcoin usage, since its completely digital and anonymous. But government banning bitcoin will have effect on bitcoin.

[deisik]

The aspect I most like about bitcoin is its anonymity. Anyone can start using BTCs from any place of the world (some countries maybe not, their governments don't like crypto-currencies). But for me it works well.

The practical when we want to make transactions also, it's fast and we don't need to pay high fees like on banks. Acessibility of Bitcoin is awesome.

You know in my country, my government don't accept the bitcoin, even any crypto currency, but still my few peoples are using bitcoin and working on it, because we convert our bitcoins into USD, thats why it doesn't matter that our government accept it or like it or not.

Exchanging bitcoin to fiat currency might be the important aspect at current situation, but someday we will reach a position where we need not convert bitcoin to fiat since all services and goods available to purchase through bitcoin locally, i hope that day comes sooner before the bitcoin price reaches $1000, Else usage of bitcoin locally will never happen because of the mining fees

I see your point, though I still think that this issue could be efficiently solved through using sidechains. A sidechain is essentially a blockchain on its own that allows bitcoins to be securely used within it but which can still be moved back to the "primary" authentic blockchain if necessary. In this way, the fees within this separate small blockchain can be significantly lowered and cancelled entirely...

Basically, it is a matter of Bitcoin adoption till these innovations become vital

[CuriousGeorge]

The aspect I most like about bitcoin is its anonymity. Anyone can start using BTCs from any place of the world (some countries maybe not, their governments don't like crypto-currencies). But for me it works well.

The practical when we want to make transactions also, it's fast and we don't need to pay high fees like on banks. Acessibility of Bitcoin is awesome.

You know in my country, my government don't accept the bitcoin, even any crypto currency, but still my few peoples are using bitcoin and working on it, because we convert our bitcoins into USD, thats why it doesn't matter that our government accept it or like it or not.

, Else usage of bitcoin locally will never happen because of the mining fees.

You need for comparing the fees of bitcoin with the another service's fees and after it your can typewriting the result about your researching about that. and absolutely it's not true for me and the fees of bitcoin are really low comparing with the another service but i will agree if you're mentioning about the confirmation of bitcoin are preventing the spreading of bitcoin demand into the local store or environment. basically the fees of bitcoin are really low.

[BlueStackz]

The aspect I most like about bitcoin is its anonymity. Anyone can start using BTCs from any place of the world (some countries maybe not, their governments don't like crypto-currencies). But for me it works well.

The practical when we want to make transactions also, it's fast and we don't need to pay high fees like on banks. Acessibility of Bitcoin is awesome.

You know in my country, my government don't accept the bitcoin, even any crypto currency, but still my few peoples are using bitcoin and working on it, because we convert our bitcoins into USD, thats why it doesn't matter that our government accept it or like it or not.

Being independent of our government regulation must be the very big advantage of having bitcoin in our life. In future, when everything will be available for bitcoin payments, we will be having more easier life with bitcoins regardless of government regulations. Bitcoin means freedom, the advantage you may not get anywhere else.

[coynedterm]

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

first of all we are here that is the main advantage .
secondly i know the best useful thing in the bitcoin is payment syatem .
as we know many no. if sites are available in the internet world which helps us to make transfer money whole about the world but at high charge abiut 8% .
but here bitcoin do the same thing with only 0.1$

[deisik]

The aspect I most like about bitcoin is its anonymity. Anyone can start using BTCs from any place of the world (some countries maybe not, their governments don't like crypto-currencies). But for me it works well.

The practical when we want to make transactions also, it's fast and we don't need to pay high fees like on banks. Acessibility of Bitcoin is awesome.

You know in my country, my government don't accept the bitcoin, even any crypto currency, but still my few peoples are using bitcoin and working on it, because we convert our bitcoins into USD, thats why it doesn't matter that our government accept it or like it or not.

, Else usage of bitcoin locally will never happen because of the mining fees.

You need for comparing the fees of bitcoin with the another service's fees and after it your can typewriting the result about your researching about that. and absolutely it's not true for me and the fees of bitcoin are really low comparing with the another service but i will agree if you're mentioning about the confirmation of bitcoin are preventing the spreading of bitcoin demand into the local store or environment. basically the fees of bitcoin are really low.

The point was that if Bitcoin price surged to 4 or 5 digits fees would be significant too (obviously, in fiat terms). I don't see why you are challenging this. Did you read the post you replied to carefully? But as pointed out earlier, the negative effects of high prices (= high fees) could be circumvented by using local sidechains. Or, for example, by using an off-chain payment preprocessor for a segment of Bitcoin network before moving the off-chain transactions into the blockchain if required...

Just like Visa or Mastercard work now

[rababo]

Bitcoin known as it's anonymity. It's hard to trace the sender and the receiver. Bitcoin transaction is fast, you can send and receive bitcoin within short time, and you can do transaction anytime, also it has low fees than any other payment methods. Bitcoin has no tax, you control your own money.

[Rostadom]

The main advantage of Bitcoin is it's fast, it's free, and it's decentralized. The transactions don't take that much time in normal cases. The fee is almost zero, it's zero in some Bitcoin wallets. It's decentralized, meaning the government or anyone cannot control it. There's not that much effort too if you're sending Bitcoins. I don't think Bitcoin and Bank can be mixed together since banks are controlled by the government.

[lexuz]

Bank already know the many advantages of bitcoin and they have tried to cooperate with blockchain or adopt bitcoin system but seen the deal has fail.

[MaritiJames3]

The advantage that Bitcoin has is that you can make some extra money with and you can save your money at the same time which makes it even better.
Those are the two reason why i make use of the Bitcoin today.

[croutonhexagon]

Bitcoin has lot of opportunity to earn money right from our smartphone because we have faucet and other free bitcoin earning source. Bitcoin is faster then banking system and it's half anonymous it has much more security then traditional banking system. Obviously bank could adopt the algorithm the that bitcoin usage to make a change in banking sector.