The fair advantage of Btcoin

[Kelward]

I don't understand why you're using "fair advantage of Bitcoin" you could have just simply said 'advantage of Bitcoin', the 'fair' sounds to me like 'average'.

Having clarified that I'll agree that Bitcoin has numerous advantages over traditional currencies that is why it's adoption continues to increase. To sum it up Bitcoin has gained so much reputation and that is why it has become a store of value, a lot of people and entities are getting in because it gives ROI on the long term. It is not in competition with fiat, it is a decentralized alternative currency for those that wants privacy.

[stuff0577]

yes technically you need the government’s permission to hold bitcoin

I'm not sure I follow.  what do you mean?

[Dr.Bitcoin_Strange]

It is also a fair advantage because of its low cost of transactions, unlike money deposit banks... You have to pay VAT, pay for maintenance, pay fees, etc.

Bank deposit or withdrawal fee is actually low but I think the way some bank institutions charge is based on the transaction value you are depositing or withdrawing but with Bitcoin even if you are depositing a large amount, the fee can still be low and affordable unless you are withdrawing the Bitcoin from a centralized exchange, that's when the fees can be extremely high because the exchange owners are the ones that set their fees. For the maintenance fees and sms alert fee that banks charge their customers, Bitcoin has nothing like. So, there's really advantages for Bitcoin enthusiast.

[peter0425]

It is also a fair advantage because of its low cost of transactions, unlike money deposit banks... You have to pay VAT, pay for maintenance, pay fees, etc.

Bank deposit or withdrawal fee is actually low but I think the way some bank institutions charge is based on the transaction value you are depositing or withdrawing but with Bitcoin even if you are depositing a large amount, the fee can still be low and affordable unless you are withdrawing the Bitcoin from a centralized exchange, that's when the fees can be extremely high because the exchange owners are the ones that set their fees. For the maintenance fees and sms alert fee that banks charge their customers, Bitcoin has nothing like. So, there's really advantages for Bitcoin enthusiast.

The fees may be the same but honestly the transaction speed often differs a lot. Banks are always somehow doing something wrong. Something is always getting delayed. There is always you need to wait for etc etc. But with exchanges, these things usually do not occur. The transactions are often very speedy.

[MusaPk]

Bank deposit or withdrawal fee is actually low but I think the way some bank institutions charge is based on the transaction value you are depositing or withdrawing but with Bitcoin even if you are depositing a large amount, the fee can still be low and affordable unless you are withdrawing the Bitcoin from a centralized exchange, that's when the fees can be extremely high because the exchange owners are the ones that set their fees. For the maintenance fees and sms alert fee that banks charge their customers, Bitcoin has nothing like. So, there's really advantages for Bitcoin enthusiast.

Banks impose lots of restrictions on it's client like you can send a maximum amount per day, the transfer fee increases with sending amount,  Bank has the authority to block transaction if looks suspicious and more. Bitcoin eliminates all such restrictions and give the complete authority back to the owner of Bitcoin. In Bitcoin ecosystem, you are never asked why and to whom you are sending funds. Bitcoin offers freedom to it's owner, something denied and abused by banks for centuries.

[uchegod-21]

I think that bitcoin has lost that low transaction vibe because there are many altcoins with low transaction fees. If the network is not congested, it will not be a big problem. But I see this blowing out of proportion in the future.

So as what as explained earlier, it's not that because many altcoins have low transactions that Bitcoin fee started to go down. And perhaps there are a lot of miners as well, although transactions fees are volatile but it's not that high anymore.

Yes, I know the ordinals attack and how it went. The network was very congested with spam transactions thereby raising the transaction fees. It is nice to understand that the project wasn't sustainable and the reason the transaction fees came down. But I am having this feeling that this feels will likely go very high again, especially when BTC his $200k figure.

[SUPERSAIAN]

It is a fair advantage because No discrimination. No racism, no gender, no age barrier, and it is open to anyone who wishes to hold it or buy it. Don't need anyone's or the government's permission.

Although BTC has numerous disadvantages too, and it is risky to invest in it. In my view, if the merits outweigh the demerits, it is good to go with the flow.

Bitcoin has many advantages other than its fair advantage, which is why Bitcoin is the most valuable asset. Bitcoin's fixed supply of 21 million units is a very resistant asset to inflation. Bitcoin's ability to be used without geographical boundaries and to be accessible to everyone with an internet connection is seen as an advantage.

This feature stands out especially in areas with limited access when we consider traditional financial systems. Everything has its disadvantages, but Bitcoin is so perfect that I don't even see its disadvantages.

[Trout Mask]

BTC precludes (and transcends) centralized and fractional reserve banking.

[Darker45]

The big advantage of Bitcoin is that it's ruled by codes and not men. And it's scarce, too. Fiat is unlimited whether it's cash or in the form of CBDC. And its system is ruled by corruptible mortals.

But Bitcoin has disadvantages, too, especially as a currency. A merchant accepting Bitcoin payments today might not be able to roll his/her capital the following day because Bitcoin's price has lost more than 5% overnight. It still lacks a certain level of stability to properly function as day-to-day money.