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Author Topic: Bitcoin Is Better Than Any Banks And Any Other Third Parties  (Read 4788 times)
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April 08, 2017, 05:45:13 AM
 #101

bitcoin could reduce greatly the cost of money transmission, if all the countries were to use it instead of rely on bank

think about the possibility to have a world with only one currency wthout any bank or people that work there

you would have a world with far less useless infrastructure and fee that need to be spend to pay who work on the bank and for maintanace(atm bank itself etc...) everyday
If you are talking about the one currency for the world using bitcoin then you are day dreaming, because that is impossible.
Just imagine if our world will use a currency or cryptocurrency that has limited supply, can you imagine what will be the effect in the market? The price will not be stable because a lot of people are demanding for it and if that happens, we will be on chaos because of shortage of the supply because compare to the supply of bitcoin to the overall population of humans then that is your answer.

it will be stable when will reach full adoption, because everyone will have its portion of the supply, bitcoin is divisable and there are plenty for everyone in the world,

the instability will not be an issue anymore actually, if there are no fiat and Bitcoin have no countervalue in fiat, because you don't need to dump, you use bitcoin as it is like a currency
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April 08, 2017, 06:28:37 AM
 #102

bitcoin could reduce greatly the cost of money transmission, if all the countries were to use it instead of rely on bank

think about the possibility to have a world with only one currency wthout any bank or people that work there

you would have a world with far less useless infrastructure and fee that need to be spend to pay who work on the bank and for maintanace(atm bank itself etc...) everyday
If you are talking about the one currency for the world using bitcoin then you are day dreaming, because that is impossible.
Just imagine if our world will use a currency or cryptocurrency that has limited supply, can you imagine what will be the effect in the market? The price will not be stable because a lot of people are demanding for it and if that happens, we will be on chaos because of shortage of the supply because compare to the supply of bitcoin to the overall population of humans then that is your answer.

it will be stable when will reach full adoption, because everyone will have its portion of the supply, bitcoin is divisable and there are plenty for everyone in the world,

the instability will not be an issue anymore actually, if there are no fiat and Bitcoin have no countervalue in fiat, because you don't need to dump, you use bitcoin as it is like a currency
The main problem is the supply, It is limited and even though there will no problem with the instability of the price then there is still a problem with bitcoin if it is the only currency in the world that we use and that is the enough stocks or supply for all of us in the whole world. If bitcoin does not have a unlimited supply then it is still impossible for bitcoin to be the only one and most used in the whole world.

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April 08, 2017, 06:52:47 AM
 #103

bitcoin could reduce greatly the cost of money transmission, if all the countries were to use it instead of rely on bank

think about the possibility to have a world with only one currency wthout any bank or people that work there

you would have a world with far less useless infrastructure and fee that need to be spend to pay who work on the bank and for maintanace(atm bank itself etc...) everyday
If you are talking about the one currency for the world using bitcoin then you are day dreaming, because that is impossible.
Just imagine if our world will use a currency or cryptocurrency that has limited supply, can you imagine what will be the effect in the market? The price will not be stable because a lot of people are demanding for it and if that happens, we will be on chaos because of shortage of the supply because compare to the supply of bitcoin to the overall population of humans then that is your answer.

it will be stable when will reach full adoption, because everyone will have its portion of the supply, bitcoin is divisable and there are plenty for everyone in the world,

the instability will not be an issue anymore actually, if there are no fiat and Bitcoin have no countervalue in fiat, because you don't need to dump, you use bitcoin as it is like a currency
The main problem is the supply, It is limited and even though there will no problem with the instability of the price then there is still a problem with bitcoin if it is the only currency in the world that we use and that is the enough stocks or supply for all of us in the whole world. If bitcoin does not have a unlimited supply then it is still impossible for bitcoin to be the only one and most used in the whole world.

It is limited because the smaller denominations (satoshis) don't have enough value currently and so just the 21 million Bitcoins looks like a limited supply for the whole world but if it gains much value so much so that a Satoshi is equivalent to a dollar (1$) then I bet this argument if limited supply will cease.



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April 08, 2017, 09:35:41 AM
 #104

If and when physical cash is done away with, Bitcoin will be one of the trusted replacements.
Bitcoin is one of the thigs that could be turned into something else. The whole point of the technology within Bitcoin is that it could scale up the Digital Currency payments that each person makes whether that be online or off the Internet.
Bitcoin will get larger than Banks if Fiat goes away, though the average person will not be able to purchase a whole Bitcoin because the price will most likely be too high.

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April 08, 2017, 10:30:25 AM
 #105

If and when physical cash is done away with, Bitcoin will be one of the trusted replacements.
Bitcoin is one of the thigs that could be turned into something else. The whole point of the technology within Bitcoin is that it could scale up the Digital Currency payments that each person makes whether that be online or off the Internet.
Bitcoin will get larger than Banks if Fiat goes away, though the average person will not be able to purchase a whole Bitcoin because the price will most likely be too high.
Nothing will replace anything as it is good as it is. The only thing I am asking for Bitcoin to have is to have more or an increasing acceptamce in the world. I like the idea that tge Overseas Workers will send their money via Bitcoin in order to have a cheaper alternative than Money Transfers or Bank Transfers and later the family of the overseas workers will convert it to fiat. But what you like to happen is to replace the Fiat system entirely which will not happen. Let us just hope that this can be a wake up call to companies that charge so much for your hard earned money if this sort of thing happen in the masses.

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April 08, 2017, 10:57:37 AM
 #106

Bitcoins had brought of a lot of relief to third world countries in term of remittance of funds. bitcoin serves better than than western union money transfer and money Gram There is much demand for verification when you want receive money Gram but with bitcoin everything is now simple.

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April 08, 2017, 11:01:31 AM
 #107

look at the features of the bitcoin then I am sure that bitcoin is the best at this time.
many things we can do, perform many financial transactions with just a few steps. while the Bank still has some limitations.

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aubert
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April 08, 2017, 11:05:56 AM
 #108

look at the features of the bitcoin then I am sure that bitcoin is the best at this time.
many things we can do, perform many financial transactions with just a few steps. while the Bank still has some limitations.
To be fair, besides of all those limitations given by the banks, the features they were provided since centuries ago could please their client whereas bitcoin, in my opinion, could only please the minority of them.
Overall, with the bank, you can still perform many financial transactions as much as what bitcoin can do with ease regardless of its limitations, it's at the same time also means that bank actually still above bitcoin based on comparison about its feature regarding financial transactions.
Probably y'all already looked down on bank without even making a fair comparison, thus, blinded by your idealism, though, it's right to defend your idealism as long as it's for the sake of good purpose.

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April 08, 2017, 11:48:39 AM
 #109

Bitcoins had brought of a lot of relief to third world countries in term of remittance of funds. bitcoin serves better than than western union money transfer and money Gram There is much demand for verification when you want receive money Gram but with bitcoin everything is now simple.

Bitcoin is definitely better than moneygram and western union. It provides more flexibility and independence to the people of small and third world countries. There are many countries where it would be hell to use other payment processors. Bitcoin is definitely faster than other third parties.



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April 08, 2017, 03:11:50 PM
 #110

Bitcoins had brought of a lot of relief to third world countries in term of remittance of funds. bitcoin serves better than than western union money transfer and money Gram There is much demand for verification when you want receive money Gram but with bitcoin everything is now simple.

Bitcoin is definitely better than moneygram and western union. It provides more flexibility and independence to the people of small and third world countries. There are many countries where it would be hell to use other payment processors. Bitcoin is definitely faster than other third parties.

the different of bitcoin from moneygram and western union is we don't have to fill our identity in our account and beside that i think the fee is is more big depending with bitcoin. but actually i am not yet to used moneygram but i have experience in the past with western union so i still prefer to use bitcoin rather than moneygram and western union. for western union, we should come into our bank to withdraw our money but we need to have something like key (unfortunately i don't remember what is the name) so we can process the withdrawal.

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April 14, 2017, 12:53:06 AM
 #111

Bitcoin is better when it comes to international and big money transfer.

Some people like a guideing hand in simple matters and those people will never admire the ability to make money transfer without the need of a third party. Those people are most of the time not willing to make international and/or big money transfers.

So the bitcoin could be valued by a certain type of people and the rest will not see the potential in it. Thats how it was supposed to be. Bitcoin will not become mainstream in a culture of a third party guidance of every aspect of a life.

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