Bitcoin The Ultimate access

[Wiwo]

As I widen my quest for knowledge on Bitcoin and the entire blockchain network, I discovered that Bitcoin has destroyed the rule of the third party. Transactions have been made easy my personal experience made me discover that Bitcoin is the perfect payment gateway for companies and business for flexible payments across borders.

[Oshosondy]

But just that people are ignorant of many things, bitcoin was created to make peer to peer transaction possible and also a decentralized means of exchange but most people nowadays are going for custodial wallets and exchanges not minding their privacy. It was a great work done by Satoshi and other developer involved but most people are fools of scam and ignorant of privacy invasion. They are relying on custodial wallets and exchanges instead to have the knowledge about bitcoin and how to have the privacy needed.

[BlackHatCoiner]

I discovered that Bitcoin has destroyed the rule of the third party.

And yet, many businesses use custodial wallets (such as Coinbase) to receive bitcoin payments. Even if it's not mandatory, anymore, to use an intermediary for online transactions, we observe that most of the users haven't acknowledged its importance. We still see a significant number of merchants and customers who don't want to be responsible for their own money.

Yeah, it's the “ultimate” access, but what will make people respect that?

[Wiwo]

I discovered that Bitcoin has destroyed the rule of the third party.

And yet, many businesses use custodial wallets (such as Coinbase) to receive bitcoin payments. Even if it's not mandatory, anymore, to use an intermediary for online transactions, we observe that most of the users haven't acknowledged its importance. We still see a significant number of merchants and customers who don't want to be responsible for their own money.

Yeah, it's the “ultimate” access, but what will make people respect that?

Why most of them still use a custodial wallets because their don't want to go through the stress of developing their own wallet that can work with their payment gateway that is why they are relying on exchanges such as counbase.

[BlackHatCoiner]

Why most of them still use a custodial wallets because their don't want to go through the stress of developing their own wallet that can work with their payment gateway that is why they are relying on exchanges such as counbase.

Possible reasons:

• They don't know how does bitcoin work nor why was it created. (And they don't care to find out)
• They just want to have a quick profit.
• They feel more comfortable if another entity holds their money.
• They're lured from the fancy buttons and stylish look of the exchanges' website. (Which, definitely, includes the first one)
• They want to transact only with other people within the exchange. (Which reduces their fees)

[mrtryonebiggums]

Exactly. You have learned the gateway drug to a world unknown to us. Never before where we free of geo-political bs in terms of tyranny with local currencies. Now their is an opt-out. And it is wonderful. Satoshi truly was a visionary.

[BIT-BENDER]

As I widen my quest for knowledge on Bitcoin and the entire blockchain network, I discovered that Bitcoin has destroyed the rule of the third party. Transactions have been made easy my personal experience made me discover that Bitcoin is the perfect payment gateway for companies and business for flexible payments across borders.

Yes Bitcoin did that, and I think that when you transacting Bitcoin via peer 2 peer, but exchanges now and their rigours with kyc and other limitations has gradually become a middle man mediating a transaction and also the government has found a way to infiltrate some exchanges by disguising, I think this all let down the Crypto-currency decentralized essence in a way.

[RILWAN]

Exactly. You have learned the gateway drug to a world unknown to us. Never before where we free of geo-political bs in terms of tyranny with local currencies. Now there is an opt-out. And it is wonderful. Satoshi truly was a visionary.

The vision behind bitcoin creation is for freedom and financial independence, Satoshi idea was how to eradicate the tyranny of government and the hold of the Central bank on the financial life of the citizens.

[Coyster]

As I widen my quest for knowledge on Bitcoin and the entire blockchain network, I discovered that Bitcoin has destroyed the rule of the third party. Transactions have been made easy my personal experience made me discover that Bitcoin is the perfect payment gateway for companies and business for flexible payments across borders.

Everything can be put in one sentence and it's "be your own bank", I believe and I think I'm correct if I say that's why majority of Bitcoin users are in the network, people are getting increasingly tired of traditional fiat currencies and their bank accounts that the government can freeze at any time, Bitcoin offers a different sort of finance for people, one they can control by themselves and are free to use their funds just as they please.

But having said that, quite a lot of people are still yet to harness this opportunity, they are still blinded by erroneous publications by the media that Bitcoin is a scam, or still go ahead to store their funds in third party services, which is very risky. If one understands the Bitcoin network, then they can enjoy all it's numerous benefits.

[fiulpro]

As I widen my quest for knowledge on Bitcoin and the entire blockchain network, I discovered that Bitcoin has destroyed the rule of the third party. Transactions have been made easy my personal experience made me discover that Bitcoin is the perfect payment gateway for companies and business for flexible payments across borders.

It's generally hard for me to send money or recieve money overseas since my family and my boyfriend both are living in different countries as well. So from my personal experience, I usually try and use Bitcoins as a method of payment or as a method of transfer if I have to. The reasons are as follows :
1. It's takes less time as compared to other international bank transfers
2. You don't have to pay excessive fee
3. You can also do lightning, transactions which might be instant or even choose priority one's from the segWit.
4. You don't need any third parties and you don't have to pay exchange rates of the banks as well

It generally takes like 3 hours for a normal transaction and when we are talking about using banks, it would generally take around 2-3 days, sometimes it will bounce back as well which is quite annoying n

[Alisha-k]

The fact that it takes less time for a transaction to be approved is one thing I've come to like most about Bitcoin, asides the time, the service charges as well are on the lower side and unlike our banking system, its less stressful and doesn't require for a third party.

[romero121]

People and corporate networks are used to the custodial wallet usage for different reasons. For that reason the companies and individuals find it difficult to move to a decentralised usage in a short time. With centralized/third party service, if there arises an issue the support team will be questioned and the issue gets solved. Maybe the better understanding will lead people towards the decentralised network.

[pooya87]

I discovered that Bitcoin has destroyed the rule of the third party.

And yet, many businesses use custodial wallets (such as Coinbase) to receive bitcoin payments. Even if it's not mandatory, anymore, to use an intermediary for online transactions, we observe that most of the users haven't acknowledged its importance. We still see a significant number of merchants and customers who don't want to be responsible for their own money.

Yeah, it's the “ultimate” access, but what will make people respect that?

Most of them use payment processors such as Bitpay and Coinbase and most of them don't actually receive any bitcoins but they receive the fiat equivalent of it. In other words the reasons why they do it is not because they want someone else to control their money but because they want to receive fiat not bitcoin which is because of its volatile price and the fear they have of sudden dumps.

[aysg76]

Most of them use payment processors such as Bitpay and Coinbase and most of them don't actually receive any bitcoins but they receive the fiat equivalent of it. In other words the reasons why they do it is not because they want someone else to control their money but because they want to receive fiat not bitcoin which is because of its volatile price and the fear they have of sudden dumps.

These merchants accepts bitcoin payments through these payments processors who convert them directly to the legal cash of their country and it's ok as these traders need cash to run the business and Bitcoin is not widely accepted at the moment but they accept to have more customer base as this is the latest trends and both the parties are satisfied like customer pays with btc and the vendor gets fiat for the same.But they can also hold btc in their wallet and earn more profits over it as the main aim of btc is payment processing apart from asset and they don't need to fear it and hold it instead but with time they might become aware about it.

Rest you have nice avatar for you which shows Btc at discount for December and those who can understand it will have bright future ahead.These discounts will be rare to see when you will be buying sats only with few dollars.

[Wiwo]

People and corporate networks are used to custodial wallet usage for different reasons. For that reason, companies and individuals find it difficult to move to decentralized usage in a short time. With centralized/third-party service, if there arises an issue the support team will be questioned and the issue gets solved. Maybe a better understanding will lead people towards the decentralized network.

Start-up companies that accept decentralized payment systems using the blockchain technology will still retain its faint payment system, the bitcoin payment gateway gives access to a global payment system that does not allow the third party centralized payment

[franky1]

I discovered that Bitcoin has destroyed the rule of the third party.

And yet, many businesses use custodial wallets (such as Coinbase) to receive bitcoin payments. Even if it's not mandatory, anymore, to use an intermediary for online transactions, we observe that most of the users haven't acknowledged its importance. We still see a significant number of merchants and customers who don't want to be responsible for their own money.

Yeah, it's the “ultimate” access, but what will make people respect that?

to add to this,
many businesses want to be custodial partner hubs. getting users to lock funds up into co-signed contracts where the user requires the consent and signature of their contracted partner to authorise fund movements.
one step down from that. they then want to use an alternative networks that has no blockchain or consensus to allow micropayments, which by their very nature does not have the same security as blockchains.

these naive users still want to pretend its "bitcoin" even when its a different network, a non blockchain network and where the units of measure are not even understood by the bitcoin network.

try to be very risk aware and cautious of people that promote these other networks as 'bitcoin'. and try to correct such people when they overhype their non blockchain offerings as 'bitcoin'

[stadus]

That's why it's called decentralized, but without a 3rd party in reality our transactions would be limited as bitcoin is still not widely accepted for our daily transactions, we still need fiat to buy kinds of stuff, so exchanges are necessary to convert bitcoin to fiat and vice versa.

If the time comes that there's  massive adoption, then probably we can just directly buy to merchants using bitcoin and hopefully it would be instant, no much waiting time to confirm.

[BlackHatCoiner]

these naive users still want to pretend its "bitcoin" even when its a different network, a non blockchain network and where the units of measure are not even understood by the bitcoin network.

If you're referring to the lightning network, then you'll find me disagreed.

The network may be different, but the units are the same. Yes, beyond the 1 sat, the bitcoin network does not understand and it's foolish to say that you transact bitcoins (since it's only a promise), but prior that, it's real bitcoins. You transfer signed transactions that are normally accepted by the bitcoin network and, alongside, partake in a game theory where you're discouraged to broadcast any other than the latest transaction that is made.

[hatshepsut93]

Bitcoin has destroyed the rule of the third party

You truly believe in that? Everyone in the world is still using banks and centralized payment systems. Bitcoin and even all cryptocurrencies together represent an immesurably small share of daily transactions of the world.

Transactions have been made easy my personal experience made me discover that Bitcoin is the perfect payment gateway for companies and business for flexible payments across borders.

If Bitcoin was perfect, it would have been used way more. Try to answer yourself, why are companies and businesses not rushing to use it for "flexible payments across borders".

[Marykeller]

As I widen my quest for knowledge on Bitcoin and the entire blockchain network, I discovered that Bitcoin has destroyed the rule of the third party. Transactions have been made easy my personal experience made me discover that Bitcoin is the perfect payment gateway for companies and business for flexible payments across borders.

The anonymous nature of bitcoin is the main reason why I fall more in love with it. You can store up your whole assets in the comfort of your home without involving or letting anyone know. Bitcoin is a transaction made easy globally(not widely accepted anyway) with a tap of your finger(gadget).
Am beginning to like the fact that people are gradually understanding the benefits of using digital currency in their daily lives