Bitcoin Can Be More Efficient Than Bank Transactions

[worldofcoins]

Bitcoin could potentially be really big but first we need to overcome certain drawbacks such as security and efficiency. Unless these 2 topics are addressed BTC will never be bigger than any banks.

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[dewildance]

Bitcoin is unrivaled especially in the instant money transfer process. Actually some of the other crypto money is the same but Bitcoin is more reliable. In addition, cash can be converted anywhere.

[Flor1982]

Sorry to disagree but for me still the banks are the most efficient. When we use our ATM, PAY PAL, Debit and credit cards instantly do we need to wait for almost 1 hour transaction confirmations for our groceries and shopping? Granted there is charges on credit cards because it is a debt but how bout Bitcoin mining fees? Are they really cheap if we will just spend at least $1 for a cup of coffee? Correct me if i'm wrong but Bitcoin is good for alternative investments but not for actual spending except if you did not bring your cash.

[mk4]

Bitcoin could potentially be really big but first we need to overcome certain drawbacks such as security and efficiency. Unless these 2 topics are addressed BTC will never be bigger than any banks.

Can you be specific on the security aspect? I'm pretty sure bitcoin is one of the most secure(if not the most secure) networks in current existence. The issue is more on user interface/experience in my opinion. Using bitcoin in a decentralized matter(not using Coinbase, etc) isn't currently easy to use enough for our grandparents.

[coinnumber]

Going with your opinion which is very interest and advantageous to all crypto enthusiast will lead to total goodbye to all fiat currencies which I believed no government or any bank will ever support as it will render most of the jobless. Second many people are yet to understand what crypto is all about, we need common man understanding crypto to carry out this assignment.

[m.awanda]

In the area of a transaction, we almost depend on a particular department which cosum our time and we know time is money that we are wasting in the procrss of bank transactions compare with the bitcoin transactions. In this time bitcoin obviousy an effective way of day to day business.

[jrrsparkles]

Even now the bitcoin transactions were much cheaper which only cost about you $0.1 or even less for most of the transactions but it will be increased when the blockchain network has more unconfirmed transactions but in future there will be more developed transactions with much lesser fees than now will be available.And more over ou no need to enter any details just copy paste the address and you can make transaction in simple tap.

[devil before evil]

Satoshi Nakamoto, the inventor of bitcoin, titled his original white paper on the subject "A Peer-to-Peer Electronic Cash System." This description touches. By contrast, credit card transactions entail the buyer effectively authorizing the seller to 'pull' a payment from their account, passing through several financial intermediaries in the process. For example, a typical Visa transaction involves four parties: the merchant, the acquirer (the financial institution that enables payments to the merchant), the issuer (the card holder's bank), and the individual cardholder.When making a bitcoin transaction, it is not necessary to provide personal identification information such as your name and address. Bitcoin transactions are made using an anonymous alphanumeric address that change with every transaction and a private key. Payments can also be made on mobile devices by using quick response (QR) codes.

[MalcolmBee]

Bitcoin installments are closely resembling a wire exchange or money exchange, where installment is 'pushed' straightforwardly starting with one gathering then onto the next, without experiencing another budgetary organization Bitcoin is based on peer-to-peer technology,Bitcoin transactions are made using an anonymous alphanumeric address that change with every transaction and a private key.

[Tobt]

Why not than? Itr is easily assumed that in the process of bitcoin transaction people no need to go to a agency to compleate the transaction. On the other hand, bank transaction is totally depends on a particular agency. So bitcoi is very much effective.

[SanSanTar]

yes, i think so. Bitcoin is more efficient than bank transactions because it provide high speed transaction.

[creeps]

Bitcoin could potentially be really big but first we need to overcome certain drawbacks such as security and efficiency. Unless these 2 topics are addressed BTC will never be bigger than any banks.

The purpose of bitcoin is to make faster transactions around the world and its already happening, but of course there’s a lot of things that needs to be improve so we can be more successsful in the future. I believe on bitcoin and I know this technology will become more valuable in the future.

[Fornam]

As bitcoin is easy to transfer and here people do not need to wait for someone who have finished the transaction, it is effective for everyone. bank transaction is a very leanthy way for what people like me like to use bitcoin in our day to day transaction.

[anhhungxadieu0402]

To me, the efficiency of Bitcoin and the bank is in my opinion. Because Bitcoin is fast in the digital market and a lot of risk. The bank payment is relatively slow but the risk is not.
So, I think the efficiency of Bitcoin and banks is almost the same.

[dablatair]

Hello, if you all the different fees that are invented by bank for overseas transfert, I’m definitively sure that BTC use is cheaper than banks. But I also think that more effort need to be done and new improvements could be done, lightning network for example that will ensure that it will definitively be cheaper and usable by everybody in all countries. Because even if it is cheaper it is not cheap for everybody !

[Ezenwanyi1]

This can only happen if the bitcoin key technologies is improved on.
This is will make bitcoin transactions more efficient.

[bitcoinminer566]

In recent time peoples are not satisfied by doing bank transaction because bank charges are lot. That’s why people are wants to invest their money on bitcoin because it is a profitable project.

[blackandwhite89]

We all know bitcoin is a decentralize project and everyone can transaction with bitcoin. The main factor is peoples are earning profit from bitcoin. That’s why i think bitcoin transaction is more popular and efficient than bank transaction.

[SparklesCoin]

BTC is better than banks. And not just in a sense that it is cheaper, also because we are the one in charge and that we do not need any third party involved in it to make the transactions or exchanges.

[PureDefender]

I agree to your proposal. It's high time now and Bitcoin needs to be introduced in the banks for transaction purpose. If some sort of regulation are applied, then the illegal transactions can be stopped.