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Author Topic: Bitcoin Is Better Than Any Banks And Any Other Third Parties  (Read 4664 times)
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megynacuna
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February 09, 2017, 01:19:04 PM
 #21

Every year migrants around the world send billions of USD/EUR back to their families.The cost of sending cash via Western Union and Money Gram averages 10-20% in fees. However bitcoin is emerging as an alternative which offers lower fees and faster payments.

Bitcoin also helps allot for countries with high inflation to store value in Bitcoins.
Bitcoin helps for millions of people worldwide.

How bitcoin helps for your life?

For me bitcoin is another great income source and a great way to invest my savings.
I agree with your thoughts about the lower fees,but i don`t know for how long the btc fees will continue to be lower than the other payment method transaction fees.

Yes that's the question every Bitcoin enthusiast is contemplating, it's a growing worry that you have to pay more for quick transaction confirmations and if this persists as more people join the Bitcoin world it is going to increase astronomically and we are in danger of losing that virtue of low transaction fees that Bitcoin possesses.



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February 09, 2017, 01:20:24 PM
 #22

Every year migrants around the world send billions of USD/EUR back to their families.The cost of sending cash via Western Union and Money Gram averages 10-20% in fees. However bitcoin is emerging as an alternative which offers lower fees and faster payments.

Bitcoin also helps allot for countries with high inflation to store value in Bitcoins.
Bitcoin helps for millions of people worldwide.

How bitcoin helps for your life?




Bitcoin helps me to provide an extra income from the signature campaign.  It helps us also to pay our monthly bills without going to bayad center. Can receive and send money in a hasten transaction.
Basically, from here we can learn how to invest, trade and save our money. I don't  say that remittance center is not good. Their differences are good to make people happy and satisfied.  


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February 09, 2017, 02:43:04 PM
 #23

Every year migrants around the world send billions of USD/EUR back to their families.The cost of sending cash via Western Union and Money Gram averages 10-20% in fees. However bitcoin is emerging as an alternative which offers lower fees and faster payments.

Bitcoin also helps allot for countries with high inflation to store value in Bitcoins.
Bitcoin helps for millions of people worldwide.

How bitcoin helps for your life?

My friend started sending me bitcoins late last year. Before, she
sends the money thru Western Union, I had a lot of issues with
WU before, like typographic error in the name,etc. so I didn't get the
money in time. So I told her to choose bitcoin, and so it began
that she send it to me thru bitcoin without any hassle on my end.

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February 09, 2017, 02:51:27 PM
 #24

Banks are not just used for transferring money. They ate used for a lot more things. As per definition "Banks an institution that deals in money and its substitutes and provides other financial services. Banks accept deposits and make loans and derive a profit from the difference in the interest rates paid and charged, respectively. " This is a major factor in any economy and that's how the whole country runs. You don't have any big lending entity in Bitcoin as of now. There is a good chance that it happens in the future though.

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February 09, 2017, 03:03:37 PM
 #25

Every year migrants around the world send billions of USD/EUR back to their families.The cost of sending cash via Western Union and Money Gram averages 10-20% in fees. However bitcoin is emerging as an alternative which offers lower fees and faster payments.

Bitcoin also helps allot for countries with high inflation to store value in Bitcoins.
Bitcoin helps for millions of people worldwide.

How bitcoin helps for your life?

If this thing will happen, I guess it will affect the economy of the real world, if bitcoin will be used as the way of sending money of the workers outside the country because government do not have an access to bitcoin. But then in the side of the sender and receiver, it will be a big help.

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February 09, 2017, 03:11:00 PM
 #26

Every year migrants around the world send billions of USD/EUR back to their families.The cost of sending cash via Western Union and Money Gram averages 10-20% in fees. However bitcoin is emerging as an alternative which offers lower fees and faster payments.

Bitcoin also helps allot for countries with high inflation to store value in Bitcoins.
Bitcoin helps for millions of people worldwide.

How bitcoin helps for your life?

If this thing will happen, I guess it will affect the economy of the real world, if bitcoin will be used as the way of sending money of the workers outside the country because government do not have an access to bitcoin. But then in the side of the sender and receiver, it will be a big help.

It is already happening and it doesn't have to be companies or government, but individuals working or earning money overseas and having family and friends down home. Using the banks, WU or MG attracts huge fees, but with Bitcoin, aside from making the transaction to be quite cheap, bank can be by-passed and no need waiting for some business days to pass before one can access their.

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February 12, 2017, 03:12:51 PM
 #27

Every year migrants around the world send billions of USD/EUR back to their families.The cost of sending cash via Western Union and Money Gram averages 10-20% in fees. However bitcoin is emerging as an alternative which offers lower fees and faster payments.

Bitcoin also helps allot for countries with high inflation to store value in Bitcoins.
Bitcoin helps for millions of people worldwide.

How bitcoin helps for your life?
That is true and correct, by means of that many of the community shifted into bitcoin because of the concepts that being implemented through features of bitcoin. It is truly bitcoin is far better than any banks in terms of charge fees in every transaction, and how pass it is when it comes to money transfer.

                                 
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February 12, 2017, 03:51:41 PM
 #28

Bitcoin is far better than most other digital currencies in terms of grown and as a store of value. As mentioned banks are similar to third party value storing community. But it gives a trust through its centralized system which is not available for third party bitcoin saving wallet providers. Both has its own pros and cons.



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February 12, 2017, 03:55:16 PM
 #29

Yes, bitcoin fees are very less and cheap as compared to that of other payment processors (even in the case of transactions confirmation lag period). I don’t think even paying double fees than average fees for bitcoin transaction is expensive as it is still less than the charges of other payment processors of international level. I always prefer to use bitcoin when it comes to global level and it’s actually helping me to earn more revenue than I was earning a few years ago. Services like Paypal have serious restrictions in my country and it was costing me extra burden so I shifted to cryptocurrency and it’s changed my business profits.

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February 12, 2017, 06:12:24 PM
 #30

I think, until you have not been a victim of credit card fraud, you will not really appreciate what it means to have control over your own money.

I played a online game and I paid for some skins with my credit card, this site did not store this information securely and my credit card

information got hacked. I lost quite a bit of money and destroyed all my credit cards. I can now buy securely on the internet, without having

sleepless nights about the information getting hacked or stolen. When people realize this, they will not use credit cards for online payments.  Grin

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Mometaskers
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February 12, 2017, 06:43:17 PM
 #31

It sure does make sending remittance faster, despite the occasional backlog. It tend to be cheaper than WU and other remittance company, especially if there is support on the receiving end. For example in my country it's possible to have the fees waived when you cash-out at banks (for now though this arrangement only includes banks in the capital). With our central bank sending the message that it recognizes bitcoin as a legal form of money transfer, I can expect more of our citizens abroad to send money back home using bitcoin.

I think, until you have not been a victim of credit card fraud, you will not really appreciate what it means to have control over your own money.

I played a online game and I paid for some skins with my credit card, this site did not store this information securely and my credit card

information got hacked. I lost quite a bit of money and destroyed all my credit cards. I can now buy securely on the internet, without having

sleepless nights about the information getting hacked or stolen. When people realize this, they will not use credit cards for online payments.  Grin

Sorry to hear that. Sad Did you sue them? Did you get your money back? The insurance covers hacking incidents right?
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February 12, 2017, 07:16:09 PM
 #32

You have to explain the advantages of bitcoin to people so that they may be interested to switch to bitcoin when sending money like what they are doing in the banks but as of now traditional banks are the most easiest way to send money to people who dont discover bitcoin yet but when they know how bitcoin work hope they stick into bitcoin for long.

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February 12, 2017, 07:59:45 PM
 #33

Every year migrants around the world send billions of USD/EUR back to their families.The cost of sending cash via Western Union and Money Gram averages 10-20% in fees. However bitcoin is emerging as an alternative which offers lower fees and faster payments.

Bitcoin also helps allot for countries with high inflation to store value in Bitcoins.
Bitcoin helps for millions of people worldwide.

How bitcoin helps for your life?

Are eypu sure it's 10-20% ? That is theft right there. I saw PayPal was 7% like wtf ? Those fees are ment to protect ypu from loss but with bitcoin you can use escrow and its 1% or so. If you sending to a trusted wallet you dont need escrow and it costs a certain amount of satoshi per size in bytes of the transaction size so it is mere cents.

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February 12, 2017, 09:12:13 PM
 #34

Definitely agree, banks are useless for me, i live in Bitcoin city in Netherlands and can buy everything with Bitcoin. Will never use banks again in my life.
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February 12, 2017, 09:21:10 PM
 #35

Definitely agree, banks are useless for me, i live in Bitcoin city in Netherlands and can buy everything with Bitcoin. Will never use banks again in my life.

Is this Arnheim? When i look at coinmap there are 96 btc businesses  Shocked Grin

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audaciousbeing
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February 12, 2017, 09:30:56 PM
 #36

Every year migrants around the world send billions of USD/EUR back to their families.The cost of sending cash via Western Union and Money Gram averages 10-20% in fees. However bitcoin is emerging as an alternative which offers lower fees and faster payments.

Bitcoin also helps allot for countries with high inflation to store value in Bitcoins.
Bitcoin helps for millions of people worldwide.

How bitcoin helps for your life?

This your position is actually right but at the same time, what I see is the advantage of using bitcoin because quite a number of people repatriating funds home don't know about bitcoin and the few ones that know might be unwilling to use it due to the fact that they are scared of going against the law in which the position of government is unknown and they could be regarded as money launders. Aside from that, what of the people the money is sent to rather than collecting Fiat immediately, they have to go through the stress of converting to fiat in which the value might even fall within the waiting period.

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February 12, 2017, 09:43:31 PM
 #37

Every year migrants around the world send billions of USD/EUR back to their families.The cost of sending cash via Western Union and Money Gram averages 10-20% in fees. However bitcoin is emerging as an alternative which offers lower fees and faster payments.

Bitcoin also helps allot for countries with high inflation to store value in Bitcoins.
Bitcoin helps for millions of people worldwide.

How bitcoin helps for your life?

If this thing will happen, I guess it will affect the economy of the real world, if bitcoin will be used as the way of sending money of the workers outside the country because government do not have an access to bitcoin. But then in the side of the sender and receiver, it will be a big help.

but i think it will not effect the economy of the states but instead it will make the economy of the states more stable. because there will be no race about the currency of the world, therefor there will be only one way making money. because all the people of the world will be using bitcoin as one currency. therefore there will be no risk to the economy of any countr

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February 12, 2017, 11:37:38 PM
 #38

I am a college student who live by myself in the other city. I have some needs to fullfil, so I need to have a job. then I find bitcoin. I try to earn it and I sell it to fullfil some needs of mine such as buying books, payment of ent house, etc bitcoin is really helpful.
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February 12, 2017, 11:42:58 PM
 #39


Bitcoin was offering the cheap price for every transaction rather than use the payment gateway such as WU or paypal. There are a lot of problems in bitcoin but overall It was satisfying.

Bitcoin helps me with increasing his value to fight against the fiat currency.

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February 13, 2017, 02:56:45 AM
 #40

I agree, bitcoin transactions easily then make the services the bank feels ineffective. I can get many benefits from the presence of bitcoin, I bet the bank will adopt the system of the bitcoin.
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