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Author Topic: Does bitcoin really work as real transaction ?  (Read 688 times)
magnum357
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November 19, 2017, 09:07:39 AM
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Maybe it works real transaction like sending money,loading,bills if you have good  internet connection thats no problem about that.But theres people not using internet they want to have transaction to office or branches,they have more that they don,t know what bitcoin is they afraid to use in real transaction but and they dont know how much is currency per bitcoin to there countries thats why they dont buy bitcoin.


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November 19, 2017, 12:34:36 PM
 #22

As a matter of fact today people are more advance and educated for accepting electro currency for sake of different activities of economics section but   there is  problem  like so many people still working in different sector by the help of broker for that reason they are not so much knowledgeable  for about electro currency  or virtual currency. This is a plus point for those brokers for getting more profit.
Now for increasing availability of virtual transaction or bitcoins we should take some necessary steps for showing the actual fact and information which help to know about this crypto-currency. If its possible day by day people feel safe and we will see that virtual currency will be used as a real currency.What you think about it ?

I think so, actually I am using my earning here in paying my dues and bitcoins is widely accepted in our country so no reason... It does really work as real transaction in our country.

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November 19, 2017, 02:26:08 PM
 #23

Yes,bitcoin works as real transaction.In fact,it is nowadays mostly used by people working abroad especially philippinese to send their earnings from abroad to their families.But still,its sad to see that majority of people still don't know about bitcoin transactions and its very low transaction fee.So,they still approach and use other services like paypal,money exchanges,banks to send their money.Awareness should be created among people and bitcoin being decentralized currency having no authority to carry on such operations,we should create awareness about in social media.


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November 19, 2017, 02:39:04 PM
 #24

if I can argue about it, then it is best if cryptocurrency and exchange have legal entities and cooperate with government, in order to get more security in doing activities in crypto.

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November 19, 2017, 03:05:44 PM
 #25

Maybe it works real transaction like sending money,loading,bills if you have good  internet connection thats no problem about that.But theres people not using internet they want to have transaction to office or branches,they have more that they don,t know what bitcoin is they afraid to use in real transaction but and they dont know how much is currency per bitcoin to there countries thats why they dont buy bitcoin.


This is why fiat currencies would really still remain strong and would still exist for more years because there are still people who do prefer to stick into the old ways rather than on engaging on new ones unless if theres a strict implementation or changes.Bitcoin transactions are real transactions butt do only happen virtually just like the same on transaction online banking but yet bitcoin isnt centralized and thats the beauty of it and why people do really like to use it for anonymity matters.


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November 19, 2017, 03:25:46 PM
 #26

Bitcoin is on the stage where it is emerging. So few know and have the chance to earn it. Bitcoins.cryptocurrencies is also possible to be an actual currency that we can pay for simple transactions, But in my view it is far from happening that we might start with it. We are proficient in Bitcoins and Cryptocurrencies. We will increase the knowledge about it so that we can reach it with people who do not know and what it can help us.

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November 27, 2017, 03:40:06 AM
 #27

Virtual currency is as good as real currency, if not better. Its just that people dont have ample knowledge about it due to which they hesitate to use crypto currency and trade with it. What should be clear among the masses is that digital platform for transactions is way more secure than physical mode. It is also more tracable and accountable which in turn creates a corruptionless or less corrupted atmosphere because everything goes on record. Along with that people dont have to worry about loosing money or theft because it is more secure that physical money. If some key precautions are maintained and take into consideration, sooner than later crypto currency will be a global phenomenon, which it already is by now to some extent.

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November 27, 2017, 03:47:54 AM
 #28

As a matter of fact today people are more advance and educated for accepting electro currency for sake of different activities of economics section but   there is  problem  like so many people still working in different sector by the help of broker for that reason they are not so much knowledgeable  for about electro currency  or virtual currency. This is a plus point for those brokers for getting more profit.
Now for increasing availability of virtual transaction or bitcoins we should take some necessary steps for showing the actual fact and information which help to know about this crypto-currency. If its possible day by day people feel safe and we will see that virtual currency will be used as a real currency.What you think about it ?

When you send Bitcoin, A data structure, to be specific An Bitcoin transaction, is made Toward your wallet customer et cetera show of the system. Bitcoin hubs on the system will transfer and rebroadcast the transaction, What's more assuming that the transaction is valid, hubs will incorporate it in the block they would mining.

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November 27, 2017, 04:33:33 AM
 #29

If you put aside the legalization of bitcoin in each country then it could be used as real virtual currency, it really depends if the government accept it and regulates it.
Some people are afraid of new technology such as online currency and still stick to conventional cash as a form to do their daily transaction.
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November 27, 2017, 04:46:45 AM
 #30

As a matter of fact today people are more advance and educated for accepting electro currency for sake of different activities of economics section but   there is  problem  like so many people still working in different sector by the help of broker for that reason they are not so much knowledgeable  for about electro currency  or virtual currency. This is a plus point for those brokers for getting more profit.
Now for increasing availability of virtual transaction or bitcoins we should take some necessary steps for showing the actual fact and information which help to know about this crypto-currency. If its possible day by day people feel safe and we will see that virtual currency will be used as a real currency.What you think about it ?

I think so, actually I am using my earning here in paying my dues and bitcoins is widely accepted in our country so no reason... It does really work as real transaction in our country.

We can use bitcoin easily to transact online and also to pay for my bills. Bitcoin is real and people should see the potential of holding bitcoin, it really works. Bitcoin is great and no matter what happen I will use this for my future transactions.
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November 27, 2017, 05:03:17 AM
 #31

Yes but a different and more complicated type of transaction. The transactions are processed by the miners.
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November 27, 2017, 05:16:33 AM
 #32

if I can argue about it, then it is best if cryptocurrency and exchange have legal entities and cooperate with government, in order to get more security in doing activities in crypto.

Only if the exchanges are approved and legalized by the government of their respective countries this will provide the confidence to the citizens of their country that every things is being regulated and its safe to do the transaction like normal money is being used.

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November 27, 2017, 05:22:09 AM
 #33

As a matter of fact today people are more advance and educated for accepting electro currency for sake of different activities of economics section but   there is  problem  like so many people still working in different sector by the help of broker for that reason they are not so much knowledgeable  for about electro currency  or virtual currency. This is a plus point for those brokers for getting more profit.
Now for increasing availability of virtual transaction or bitcoins we should take some necessary steps for showing the actual fact and information which help to know about this crypto-currency. If its possible day by day people feel safe and we will see that virtual currency will be used as a real currency.What you think about it ?
As you can see we are now entering the world of cashless society. Your wuestions is simply answered by what we experienced now. So, is it possible? Ofcourse it will be possible not totally now but soon we can see all of that if bitcoin already exposed to all of the people.


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November 27, 2017, 05:32:51 AM
 #34

Yes it does. Even though I am just a newbie I saw how my friends transact successfully in bitcoin. They earned money an support their needs.

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November 27, 2017, 06:00:54 AM
 #35

No, bitcoin can't be used as a currecy to buy things because it's too slow and fees are too high. It's mainly a volatile store of value.

There is a continuing problem with Bitcoin right now and it is the scaling process or the capacity of the network to handle the burgeoning transactions every day that is why there is the perennial clogging which make many people turned sour on Bitcoin. There had already been many attempts to solve the big problem and it is really technically possible but always the politic gets in the way. Until there is no strong unity within the Bitcoin community, this problem can go on and can make Bitcoin less attractive later. Solutions have to be implemented and accepted by all parties otherwise we are just killing the future of Bitcoin.

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November 27, 2017, 06:35:41 AM
 #36

If its possible day by day people feel safe and we will see that virtual currency will be used as a real currency.What you think about it ?
I don't think digital currencies (virtual currency) can be transacted as real currency or can be used to offline transactions like real currency. And I think even though the virtual currency is getting popular used by many people over time.. it still, the virtual currency is just a alternative currency that can only be transacted with online, it can't for real transactions.

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nguli
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November 27, 2017, 06:47:01 AM
 #37

As a matter of fact today people are more advance and educated for accepting electro currency for sake of different activities of economics section but   there is  problem  like so many people still working in different sector by the help of broker for that reason they are not so much knowledgeable  for about electro currency  or virtual currency. This is a plus point for those brokers for getting more profit.
Now for increasing availability of virtual transaction or bitcoins we should take some necessary steps for showing the actual fact and information which help to know about this crypto-currency. If its possible day by day people feel safe and we will see that virtual currency will be used as a real currency.What you think about it ?

actually the bitcoin increase is caused by very high demand and very limited availability and bitcoin becomes very difficult to obtain, from the very difficult demand in getting the mining pool into the trouble of getting bitcoin, it's the way it works and that makes bitcoin delivery very long.
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November 27, 2017, 07:05:41 AM
 #38

Of a truth many people from different countries and work of life has not been able to used bitcoin for transactions. I have been trying to tell some of my  friends that live in developed countries to used bitcoin to send money to some of their relatives at home but they could not come to terms with this reality that this is possible. I think ignorant of what p2p mean is what is affecting bitcoin transactions and many people has not build confidence on using a system that has no third party to send value online.


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dancingnancy
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November 27, 2017, 08:31:08 AM
 #39

As a matter of fact today people are more advance and educated for accepting electro currency for sake of different activities of economics section but   there is  problem  like so many people still working in different sector by the help of broker for that reason they are not so much knowledgeable  for about electro currency  or virtual currency. This is a plus point for those brokers for getting more profit.
Now for increasing availability of virtual transaction or bitcoins we should take some necessary steps for showing the actual fact and information which help to know about this crypto-currency. If its possible day by day people feel safe and we will see that virtual currency will be used as a real currency.What you think about it ?
As long there's a mutual understanding between the vendor and party there should be no issue in any transactions. Its decentralization makes it easier to trade with than conventional methods. It's better to trade with people who are well aware of the technical market as this type of trading benefits everyone.
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November 27, 2017, 08:42:56 AM
 #40

The problem with bitcoin is that it is so slow that the you need to pay high fees to use it for online shopping, because there is a risk that the exchange rate will change between your purchase and the time the merchant gets his money. However I do see something like coinbase may offer a solution to that.
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