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Author Topic: The advantages of bitcoin  (Read 1995 times)
kauban2018
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May 05, 2018, 09:54:31 AM
 #501

I totally agree with these advantages listed that's why Global Economy somewhat change through the help of Bitcoin. Like for the OFW's they can now send money to their respective family with very low fees compare to bank transactions with high interest or fees to pay. OFW's also have the freedom on how much they will going to pay or send which will surely help them. Nowadays, hackers do totally exist, we can't even make sure to whom we will going to give our trust due to lack of securities on every businesses but as what is indicated that bitcoin doesn't ask any personal information which means any personal data can surely be kept by your own self. And through the protection of bitcoin by backing up and encrypting people can now be secured to their personal data.
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KingdomHearts
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May 05, 2018, 10:32:52 AM
 #502

Freedom of payment - any amount of money can be paid and received instantly and anywhere. No bank holidays, no borders, no imposition. Bitcoin allows its users to completely control their money.

Very low fees - there is no handling charge or very little handling fee for the current payment of bitcoin. The user can include the handling fee in the transaction to obtain processing priority and receive the transaction confirmation from the network faster. In addition, there are merchant processors that help merchants deal with transactions, convert bitcoin into legal tender daily and deposit funds directly into merchants' bank accounts. Because these services are based on bitcoins, they can provide a much lower fee than PayPal or credit card networks.

Reduce the risk of merchants - bitcoin transactions are safe, irrevocable, and do not contain customer sensitivity or personal information. This avoids the loss caused by fraud or fraudulent withdrawal, and there is no need to comply with PCI standards. In places where credit CARDS cannot be used or fraud rates are too high, businesses can easily expand new markets. The net result is lower costs, bigger markets, and less administrative costs.

Security and control - bitcoin users are completely in control of their transactions; Businesses cannot force fees that may or may not be found in other payment methods. Paying with bitcoin doesn't have to be tied to personal information in transactions, which provides great protection against identity theft. Bitcoin users can also protect their money by backing up and encrypting it.

Transparency and neutrality - all information about the money supply itself is stored in a block chain, and anyone can check and use it in real time. No individual or organization can control or manipulate the bitcoin protocol because it is password protected. This makes bitcoin's core believed to be completely neutral, transparent and predictable.
The bitcoin has many advantages that can help people to make their life better. In bitcoin you can earn huge profits because it's value is extremely amazing, the bitcoin is decentralized so no one can control it or manipulate it.
Bitcoin is a love for numerous reasons. No one in his or her senses go against bitcoin if he or she is a true lover and supporter of crypto market. Bitcoin is the enchanting creation of the digital world and people are still not able to understand it completely. No one is aware of the real potentials and powers of bitcoin. Why I like it is because of the records it set off and on in the market.
efxtrader
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May 05, 2018, 11:39:32 AM
 #503

So,  after i see all of advantages for Bitcoin.
I am still scare this Crypto will used for Evil-Activity or Money Laundring?
Greedy governor will hide their money in Bitcoin and yah, I am curious how we fight against it?

I think its not just bitcoin used for illegal activity. Indeed bitcoin have advantages on anonymity but its doesnt mean bitcoin mostly used for illegal activity. Its depending on bitcoin holder.
Bitcoin many advantages beside anonymity, like lower transaction and instant transfer and for investment, bitcoin have limited supply and thats make bitcoin price always increasing

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rocketbits
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May 05, 2018, 12:07:05 PM
 #504

Bitcoin has lots of advantages but it doesn’t have full security or guarantee that you’re 100% safe cause you are still taking the same risk you take when making use of fiat, and even 50% more if the risk. If you’re making use of fiat, you’re more safe when doing business than when you’re making use of Bitcoin. Well, I won’t really explain that, cause it’s a long talk. As for the advantages, first thing I like bait Bitcoin is the speed in making international transactions which takes less than 10 minutes and the transaction fees we pay are way too low than we will do in banks when sending money to someone in a different country.
GamingBro
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May 05, 2018, 12:11:52 PM
 #505

Bitcoin hiding many advantages, my favorite are free transactions all over the world, no taxes, no banks. I can't trust to my governmnent anymore unfortunatly but i can use bitcoin. Grin

Bugcoin5
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May 05, 2018, 12:37:09 PM
 #506

Freedom of payment - any amount of money can be paid and received instantly and anywhere. No bank holidays, no borders, no imposition. Bitcoin allows its users to completely control their money.

Very low fees - there is no handling charge or very little handling fee for the current payment of bitcoin. The user can include the handling fee in the transaction to obtain processing priority and receive the transaction confirmation from the network faster. In addition, there are merchant processors that help merchants deal with transactions, convert bitcoin into legal tender daily and deposit funds directly into merchants' bank accounts. Because these services are based on bitcoins, they can provide a much lower fee than PayPal or credit card networks.

Reduce the risk of merchants - bitcoin transactions are safe, irrevocable, and do not contain customer sensitivity or personal information. This avoids the loss caused by fraud or fraudulent withdrawal, and there is no need to comply with PCI standards. In places where credit CARDS cannot be used or fraud rates are too high, businesses can easily expand new markets. The net result is lower costs, bigger markets, and less administrative costs.

Security and control - bitcoin users are completely in control of their transactions; Businesses cannot force fees that may or may not be found in other payment methods. Paying with bitcoin doesn't have to be tied to personal information in transactions, which provides great protection against identity theft. Bitcoin users can also protect their money by backing up and encrypting it.

Transparency and neutrality - all information about the money supply itself is stored in a block chain, and anyone can check and use it in real time. No individual or organization can control or manipulate the bitcoin protocol because it is password protected. This makes bitcoin's core believed to be completely neutral, transparent and predictable.
Here some advantage of Bitcoin
Quick and Cheap Transactions
Anonymous and Private
Irreversible Transactions
No Paperwork
Appreciating Value
You can create your own money
Non-Inflationary
People can’t steal your payment information from merchants
Central governments can’t take it away
Fewer risks for merchants

DLMM
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May 05, 2018, 01:17:50 PM
 #507

As you say, bitcoin is the largest currency in the world, Bitcoin is still in high demand. Bitcoin numbers are limited to 21 million. When it reaches the upper limit, Bitcoin will become rare and its price will increase dramatically, bitcoin can reach $ 20000.
eroejoe
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May 05, 2018, 01:30:36 PM
 #508

Bitcoin has many advantages and disadvantages. I think that, the biggest advantage of Bitcoin is that it is decentralized.
MendozaCharles
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May 05, 2018, 01:57:48 PM
 #509

I think that the advantages of Bitcoin are not significant, but to the present Bitcoin is still ranked high on the international market with other currencies and Bitcoin is in 6th place, in the future, this currency will grow higher. And there are more advantages nowadays if well protected.

Bitcoin Bull Run is Coming 🌅
rysheeer
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May 05, 2018, 02:02:14 PM
 #510

It is a peer-to-peer transaction, there's a ledger where the transactions are recorded and it is stored in the blockchain in which it can't be removed, it is decentralized, it has low fees, and it can't be fake, unlike paper currency.
Kriptex
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May 05, 2018, 02:11:15 PM
 #511

Nice info buddy. Also lot of Advantages of Bitcoin.
 1. High reliability.
 2. Strong growth.
 3. Highly secured.
 these are the main advantages of Bitcoin. It is occupied in high market capitalization and high value so all the investors are looking this coin. It is decentralized cryptocurrency this is first advantage of this coin then only all the alt coins are following.

These are true, I want to add more things. They are the most significant ones for me.

-Cheap money transfers globally.
-Extremely fast delivery. The recipient doesn’t wait too long.
-High market value.
-As an asset, investment chance.
jennygamilo
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May 05, 2018, 02:49:55 PM
 #512

The good bitcoin is, you can take your wages anywhere at any time and of course you can avoid cheating on credit cards and easier join
joykulot
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May 05, 2018, 03:36:10 PM
 #513

Yes, there are many advantages of Bitcoin, that is why I love to use it so much. The transaction is very easy and fast, so many people is interested in Bitcoin. And this also the first cryptocurrency.
diickydbo
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May 05, 2018, 04:30:47 PM
 #514

I think the excess bitcoin is a pretty convincing and stable investment value. Bitcoin can rise quite well in a few days or months.
jorgelugra
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May 05, 2018, 07:55:22 PM
 #515

Complete absence of inflation. Bitcoin coins appear with great speed, while their maximum number is strictly limited - they cannot be more than 21 million. And since there is no economic or political influence on this currency, inflation does not exist either. That is why, it can be said that bitcoins are a more reliable asset than gold.
bitllionaire
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May 05, 2018, 09:21:37 PM
 #516

Bitcoin has many advantages and disadvantages. I think that, the biggest advantage of Bitcoin is that it is decentralized.
Yes that is a good advantage but i think that there are so man other advantages of bitcoin for example it is an advantage of bitcoin that bitcoin is no limited to some area but can be use anywhere in the world having same value everywhere. In fact is the need of every person and in near future will be the main currency of the people
mackenzie5
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May 05, 2018, 11:02:57 PM
 #517

Bitcoins advantages are mainly the strongest currency ,it is good for the investment.it can be transferable between the buyer and the seller It can be useful for the salary payment.Bitcoin will not effect the inflation so it will be useful for the commodity price stable. and it can be used for the service bill payment,for the local and international buying.Bitcoin is usable for the day traders in the volatile market.The main attraction to bitcoin is that to spent it suitably for the human requirement globally
Tiger Junk
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May 05, 2018, 11:12:57 PM
 #518

we think the benefits of having bitcoin for us are so great that we expect in the future, because bitcoin is also easy to use in everything, so our economy will be better for the future, especially for investments and transactions that we use with ease.
The advantages of bitcoin is bitcoin can be the future and there is no doubt that in the future there will be some restaurant, hotels that will accept bitcoin as payment, and the advanatges of having a bitcoin is our future is will be bright because bitcoin price can be very high.
bitllionaire
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May 05, 2018, 11:14:11 PM
 #519

Bitcoins advantages are mainly the strongest currency ,it is good for the investment.it can be transferable between the buyer and the seller It can be useful for the salary payment.Bitcoin will not effect the inflation so it will be useful for the commodity price stable. and it can be used for the service bill payment,for the local and international buying.Bitcoin is usable for the day traders in the volatile market.The main attraction to bitcoin is that to spent it suitably for the human requirement globally
Even bitcoin is now becoming more stronger, in fact bitcoin has the support of its uses, and its users are also increasing too much which is making it more stronger, to me i think that in current time the most stronger currency of the world is bitcoin and in future it will become more stronger because of the interest of the people are because of the facilities that bitcoin is going to provide us.
Advicerabi
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May 06, 2018, 01:55:30 AM
 #520

Bitcoin is decentralized and that is a system the world need to move from were it is now to were it ought to be in development. By this you can easily transfer your money to other people. We get lot a of benefits here in bitcoin and really helps us through financial need.
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