Bitcoin solving the problem of intermediary

[swiftbits]

We can really feel the ease when we transact with someone accepting Bitcoin as payment, not everyone is open to it as a payment method, they still have to deal with volatility, transaction fee, and ways of selling them in the market. In my case, people who offer online services such as design and web tools are much open to it. it can be circulated and use to buy items on the web so it's acceptable for them.

[Rruchi man]

Bitcoin and cryptocurrency has really been beneficial in eliminating some of the problems we face when making transactions through an intermediary (the bank).

I once had to go buy some materials i use for work from a supplier, i moved money from one of my bank account with money to another that  had nothing, i did so because at that point in time, that was the only bank account i had with a functional ATM Card. Having done this, i set out to my suppliers place which was like an hour away from my residence. On getting there, i noticed that the transaction i did some hours ago had not been posted probably my the staffs of the bank maybe because of their workload or something... I waited for over 4 , hours at my suppliers office hoping to receive the money i sent to myself, but didn't. It was Getting late, and i had to return home...at the mid of the night that day, i received the money, but i was already angry because i had wasted my time and money i used in transporting myself there.

Since i switched to payment in cryptocurrency, transaction with my supplier has been hitch free because he is crypto conscious. So whenever i make a crypto deposit to his wallet address, it reflects within minutes and the problem of waiting for a lazy or overworked bank staff to post money from one account to another has been eliminated.

[Marvell1]

In fact, I would choose USDT instead of Bitcoin to pay. The funds exchanges between my friends and I sometimes use wallets to transfer funds. USDT avoids price fluctuations and is more convenient than Bitcoin.

It depends on your location in my country the government has some restrictions on cryptocurrency so the only means of getting any cryptocurrency is through P2P means we don’t use exchange and since Bitcoin is the most popular cryptocurrency, it’s easier to get access to Bitcoin than USDT.

It depends on the area we live in and depends on the needs of each person.I also often pay in usdt, instead of bitcoin or eth. Because my clients don't like the volatility of bitcoin. When trading I always have to convert my bitcoins or altcoins to usdt before transacting with clients.

[BIN-BIN]

In fact, I would choose USDT instead of Bitcoin to pay. The funds exchanges between my friends and I sometimes use wallets to transfer funds. USDT avoids price fluctuations and is more convenient than Bitcoin.

It depends on your location in my country the government has some restrictions on cryptocurrency so the only means of getting any cryptocurrency is through P2P means we don’t use exchange and since Bitcoin is the most popular cryptocurrency, it’s easier to get access to Bitcoin than USDT.

It depends on the area we live in and depends on the needs of each person. I also often pay in usdt, instead of bitcoin or eth. Because my clients don't like the volatility of bitcoin. When trading I always have to convert my bitcoins or altcoins to usdt before transacting with clients.

That is the point, before I choose to use Bitcoin I and my partner have a long and detailed analysis of the peculiarity of our regions and thereafter resolved to use Bitcoin because Bitcoin is the only crypto that is easily accessible to me in my country.

[Freezingel]

Wow that's great, but for sure bitcoin really helps right, especially if you have different currency, and your currency is in a weak condition so its value lower, then it will cause more problems that you have to pay higher price since you're paying it in USD. But with bitcoin, the currency value won't differ anymore, you two will have the same currency to transact, of course it will save a lot of time, inconvenient and might be more fair for both of you as well, without needing to care about the value of your own currency and the exchange rates. For me myself, i haven't got any experience like that since i haven't been able to use bitcoin for anything, but maybe if in the future i need to transact for anything outside my country, i might use bitcoin instead since it's easier and more convenient.

[stompix]

To me it seems that you've just added one more intermediary than getting rid of them

Maybe. Or maybe he was going to be depositing some money in his bank, sending it to a bitcoin exchange, and buying bitcoin with it anyway. Whether he does that with $100 or $10,000, it's still the same process, and so these extra steps are trivial for him

But he wasn't doing this previously, funny enough. One thing I find weird, it was a real pain in the ass to deposit cash to the bank, and now 3-4 extra steps including this are trivial? Common, this is a completely biased view on the situation and you know it.

It also opens the possibility of people purchasing goods from him with bitcoin, and him sending that bitcoin directly to his supplier, meaning no intermediaries at all for him.

A thing he didn't do previously although he could, and a thing he didn't even mention.
If bitcoin is saving your business a lot of time, don't you think you would at least mention what business you have and what he deals with, not this merit phishing sob story? Common, analyze it for a few seconds and you realize it lacks logic all around.

Before it took days to clear the payment and weeks to have them delivered, now he gets it in under a week via DHL, well, I guess bitcoin speeds even DHL 

[lightning0]

The decentralization of Bitcoin is completely controlled by users themselves, without any central agency or intermediary agency.

It completely eliminates third-party intermediaries such as the government or central bank, and is safer than traditional finance.

[wahyu wida]

with bitcoin pioneered as a currency, this will harmonize currencies around the world. There are many advantages, including because there are no intermediaries, so transactions will be faster. but on the other hand this has not received permission from the government, for various reasons. but in my opinion when the changing conditions have relevance to bitcoin, the relevant decisions must also be made

[RILWAN]

 the problem of intermediary has made cross border transaction hard and expensive as most business have to pay high fees and longer transaction time, but with bitcoin cross border transaction is easy and takes less time for the transaction to get confirmed.

[mckinleeanael07]

I am quite familiar with the fact that one of the primary features of Bitcoin is to eliminate the third party system in financial transactions such as banks; I have been shipping goods from the US to my country and selling them in my retail store but over the years I have been using the traditional method of going to the bank to convert my native currency into US dollars before sending the money to my customer in the US and this has not been an easy process for me and my transactions some time take days to be cleared and it take weeks before getting my good delivered, this have always caused delay and set back in my business.

But during the covid-19 Lockdown, I was forced to look for an alternative way to get payment across to my US partner, for which we both agreed to use Bitcoin to carry out the transaction. Within an hour my partner confirms the payment, and I got my goods delivered within a week through DHL, going to a year now since then I have never used the traditional banking process to make the payment again and business has been moving smoothly all thanks to Bitcoin.

Note we have an agreement on price changes because of volatility in Bitcoin price. I choose to share my experience here to encourage members to use Bitcoin for their businesses.

What is your personal experience with Bitcoin?

Most of us still know this great feature of BTC, if you trade or buy with other countries, the money transfer and transaction fees are quite complicated, often have to go through their bank to confirm and cost quite a bit. a lot of time, BTC is always our solution, especially in this covid season, banks are almost not working, BTC is the fastest transaction payment currency to help us solve this problem that banks Traditional banks can't do it, I like you choose BTC payment solution as the fastest method that I choose.

[Woodie]

As long as the merchant can wait for confirmations to avoid buyers from acting dishonest like double spending their transaction ...bitcoin and crypto payments in general are a good alternative to fiat the only problem could be the fluctuations in price which could be a cost on you should bitcoin be bearish but overall bitcoin is far much better than our traditional currencies.

the problem of intermediary has made cross border transaction hard and expensive as most business have to pay high fees and longer transaction time, but with bitcoin cross border transaction is easy and takes less time for the transaction to get confirmed.

That's the thing which is my bitcoin keeps getting popular and gaining ground over fiat because it's a currency without boarders

[zanezane]

We can really feel the ease when we transact with someone accepting Bitcoin as payment, not everyone is open to it as a payment method, they still have to deal with volatility, transaction fee, and ways of selling them in the market. In my case, people who offer online services such as design and web tools are much open to it. it can be circulated and use to buy items on the web so it's acceptable for them.

Really? The time it takes to reach the other one right now is really slow I mean even with the gas fee. But the title is right, bitcoin solves the problem of having a middleman that takes a chunk of the transaction to serve as a payment for their services.

[cotton ball]

bitcoin solves the problem of intermediaries,I totally agree with your review,because we really have felt the freedom since the emergence of bitcoin,Bitcoin is a consensus network that allows new payment systems and money that is completely digital. Bitcoin is the first decentralized peer-to-peer payment network that is fully controlled by its users without any central authority or intermediary. From the user's point of view, Bitcoin is like cash in the internet world. Bitcoin can also be viewed as the most prominent triple bookkeeping system in existence today.

[RokokGudangGaram]

bitcoin solves the intermediary problem,?? it is for this reason that people flock to want to know bitcoin more deeply, because bitcoin gives us freedom in all fields, without any intermediaries, we are free to do whatever we want.. this is what causes us to feel safe investing in bitcoin..

Exactly. Freedom from these intermediaries, and the constraints that they are making, is among the top contribution of Bitcoin to the world. Users have the power and control now over their coins and able to do transactions in any border than when there are intermediaries.

[Dhoe]

does btc solve the problem of intermediaries,,?? this thread is very true, when we want to sell and invest we don't need to find a third person to make transactions, we just need to be with the seller who makes transactions without having to use any intermediaries, unless we want to exchange to fiat currency, then we need a bank, to be able to withdraw our money..

[AakZaki]

Exactly. Freedom from these intermediaries, and the constraints that they are making, is among the top contribution of Bitcoin to the world. Users have the power and control now over their coins and able to do transactions in any border than when there are intermediaries.

but even so, Bitcoin without intermediaries does not mean free from all risks. Bitcoin still has a big risk. mistakes made during transactions are irreversible and there will be no insurance. Must be very careful when making transactions. Bitcoin does not need an intermediary, but if bitcoin wants to be fiat it needs an intermediary from the bank to be able to withdraw it to a bank account.

[bhooscream]

It is nice to know that at least, Bitcoin is legal to be used as a payment in your country.  It can really suppose you to have another alternative for the transaction.
I am wondering how you can manage the payment with the high volatility of Bitcoin.
is it based on the USD rate at first and the amount of the BTC is suited to the current rate? or fixed BTC paid?

Bt, I have no experience in using Bitcoin as payment because it is not legal here.

[techearn17]

bitcoin solves the intermediary problem,?? it is for this reason that people flock to want to know bitcoin more deeply, because bitcoin gives us freedom in all fields, without any intermediaries, we are free to do whatever we want.. this is what causes us to feel safe investing in bitcoin..

Exactly. Freedom from these intermediaries, and the constraints that they are making, is among the top contribution of Bitcoin to the world. Users have the power and control now over their coins and able to do transactions in any border than when there are intermediaries.

That's right bitcoin has given us freedom how nice it is that we own our money if fiat currency is seen how difficult it is to use our money considering the freedom of bitcoin people are adopting it bitcoin day It is gaining popularity and gaining strength over Fiat.

[Liamttw]

Compared with the traditional financial system, the decentralized nature of Bitcoin is not controlled by the government and central bank, and its transactions do not need to go through any third parties. So solve the problem of financial intermediary.Bitcoin adopts a common accounting method. Each node will participate in data recording and share it with others at the same time, so as to obtain a complete data and ensure the validity and authenticity of the data.

Bitcoin's consensus network mechanism eliminates the need for third parties and enables fast transactions, and its users completely control assets for easier transactions and barrier-free delivery.

[cotton ball]

I totally agree with your review, bitcoin solves the problem of intermediaries, excellent method of issuing bitcoins, not involving anyone in transactions or investing, bitcoin really gives us freedom in all areas, but we must always be aware of every transaction we make. do. because if we are deceived and wrong in the transaction, we cannot claim back what we have sold, because our mistakes are not borne by anyone, bitcoin actually teaches us to live independently..