Why I choose Bitcoin for all transactions.

[Ambatman]

Bitcoin transactions payments are Quick and  free,   it helps your transaction to proceed very fast just

They are not fast compared to some payment system or currency nor are they free.
Every on chain transactions normally requires a network fee
And the fee isn't constant and could even be in cents depending on congestion or if lightning is used.

it gives perfect top security settings through the blockchain technology.

Nothing is perfect.

[Comeacross]

Is this AI generated? It seems like it is. Whatever, I just want to correct you on one point. You mentioned that Bitcoin transactions are free, but that’s actually not true. You pay mining fees to process Bitcoin transactions and have them broadcast to the blockchain network. So technically they are not free.

I also understand that you are fascinated by the cool features of Bitcoin, but spending it everywhere is only hurting yourself. You need to understand that Bitcoin has a limited supply. Instead of spending it, accumulate it and treat it as a digital asset. In this way, you can potentially make a good profit during the next bull run.

It's probably not AI. If it's AI, then that AI model is too dumb to say Bitcoin transaction is free and fast as stated in op post. If we want to talk about across border transactions and censor resistance, then bitcoin is not on the same level with the traditional banks but quick and free? That's where I disagree with op.

Bank transaction is more cheaper and instant than bitcoin transaction if the transaction is happening within the same region. Bitcoin transaction fee is expensive during network congestion. The only time you're getting free bitcoin transaction is when you're sending through internal transfer between two exact exchanges. The problem with traditional banks is their unending maintenance while bitcoin is up and running 24/7.

Being excited with Bitcoin doesn't mean we should overexaggerate things.

[Hamza2424]

Hope you are not sugarcoat bitcoin transaction here. No, bitcoin transaction fee is not of zero fee unless you know a mining pool that help you include the unconfirmed transaction in a block.

Bitcoin lightning network is cheap, very cheap but also not of zero fee. Although, if you connect to someone directly through a channel, it is free.

He is sugarcoating, and he is doing it in the smoothest way that I did not even realize he said "free." I read it as "fee," but when I read your reply, I realized he said it was free haha. He is good.

Anyway, you are right to point out that a bitcoin transaction is not free, we still have to pay a small fee based on the network congestion and some other factors, but congestion plays the most role, otherwise, it depends on the wallet we are using, as sometimes input also impacts our fee, but that's another topic. We must know the fee is a necessary part, and yep, even with LN, we have to pay a fee even if it is too small, but at least we have to pay it, and we also have to pay the full fee when opening the LN channel.

[Asiska02]

Bitcoin transactions payments are Quick and  free,   it helps your transaction to proceed very fast just that it may take a few minutes and cost a few dollars to proceed.

In your statement, you said bitcoin payment are quick and free and went ahead in the same sentence and said that the transaction will take some time and then cost a few dollars. You are already contradicting your statement and anyone reading this will only get confused the more. It is not bad if you idolise bitcoin, but you should make sure that every statement you are putting out here about it is the fact and you’re not just sweet toning it for readers to opt in for it more rather than the fiat currency. Bitcoin has a lot of advantages over the fiat currency but always do your research and praise bitcoin as it is, don’t use persuasive language when praising it.

[uchegod-21]

Bitcoin is really the best and fast reliable for all my transactions. reason because it perfectly allows me to send and receive payments around the world, without even relying on so called traditional banking systems.

How true is it that you use Bitcoin for all of your transactions. For this to be possible, it means that every business person or merchant you use accepts bitcoin as a means of payment. Every single person you intend to send money must be willing to accept bitcoin. I doubt that you are actually doing this for all your transactions as you claim.

Traditional bank payments sometimes takes certain hours, and sometimes even several days or weeks to scale through due  to banks network system. You may also need to pay bank fees, especially if you’re sending money to someone in another currency like Italy or Germany.

This sound exaggerated. Traditional banks have their errors, but transactions taking up to weeks to pull through is a bit exaggerated. Well, I do not know what country you are.

Bitcoin transactions payments are Quick and  free,   it helps your transaction to proceed very fast just that it may take a few minutes and cost a few dollars to proceed.

This is misleading. Bitcoin transactions are not free, you pay transaction fees. Also, it takes time for your transaction to be confirmed. Confirmation time varies, it can be way faster or slower. So, you cannot generally say that payments are quick.

[Obim34]

Traditional bank payments sometimes takes certain hours, and sometimes even several days or weeks to scale through due  to banks network system. You may also need to pay bank fees, especially if you’re sending money to someone in another currency like Italy or Germany.

With the help of fintech banks, fiat transactions are now easier and faster, delays rarely happen, even for large transactions.

Concerning bank delays and network problems, Bitcoin also has its own shortcomings. When the network becomes congested, transactions become stuck and take long hours, sometimes days if the sender refuses to adjust the fee to push the transaction in front or if the network takes longer to unclog, since miners will prioritize transactions with higher fees.

When it comes to explaining Bitcoin as a payment option, cross-border transactions without a central authority are actually what should be the head of discussion, and this is done conveniently, from the comfort of our home. Back in time, when it took stress, paperwork, and signatures, Bitcoin stepped in, and within seconds, payments can be completed and received in a short time.

[Israelgogo]

Bitcoin is really the best and fast reliable for all my transactions. reason because it perfectly allows me to send and receive payments around the world, without even relying on so called traditional banking systems.

Traditional bank payments sometimes takes certain hours, and sometimes even several days or weeks to scale through due  to banks network system. You may also need to pay bank fees, especially if you’re sending money to someone in another currency like Italy or Germany.

Bitcoin transactions payments are Quick and  free,   it helps your transaction to proceed very fast just that it may take a few minutes and cost a few dollars to proceed.

I see it as my number one choice because it gives perfect top security settings through the blockchain technology.

Bitcoin  is fast and reliable 24 hour's without breakdown except one's network is unstable due to one's location.
 In conclusion
I also recommend it convenience of making borderless transactions.
The outline makes Bitcoin my choice of payment's methods.

Bitcoin transactions is self responsible transactions without third-party services and queries if anything should goes wrong, yes Bitcoin transactions is faster and reliable as long proper wallet address is fix with the right crypto ach but nothing condemning banking system because banking systems services as medium of transactions between your account, the bank and you but Bitcoin is just you and your wallet, banking system maybe slow but is the oldest most reliable with assurance and accountability to customers. In Bitcoin you've explanations to anyone, and no retractable values in the aspect of missing funds. So banks play a vital roles in transactions but yes is slow than Bitcoin in delivery time.

[Lida93]

Bitcoin is really the best and fast reliable for all my transactions. reason because it perfectly allows me to send and receive payments around the world, without even relying on so called traditional banking systems.

Such is correct as you said but you also have to be cautious when making a bitcoin transaction because wrong transactions can't be refunded which means confirmed transactions in bitcoin network ain't reversible. Any mistakes becomes an experience for a lesson.
Not attempting to scare you but to draw your attention to what many don't much talk about for others to know, until the mistake is made.

 

Traditional bank payments sometimes takes certain hours, and sometimes even several days or weeks to scale through due  to banks network system. You may also need to pay bank fees, especially if you’re sending money to someone in another currency like Italy or Germany.

Bitcoin fixes a lot of the problems with traditional banks which can't be overemphasized but it's without no flaws as it can have delayed transaction when there's congestion in the mempool m, this happens when too many transactions are trying to get into bitcoin network. At that point becomes fees-sensitive as they prioritize transactions with higher fees.  This could cause a delay in some transactions for hours than needed in normal circumstances.

[Localhostspeed]

Bitcoin transactions is self responsible transactions without third-party services and queries if anything should goes wrong, yes Bitcoin transactions is faster and reliable as long proper wallet address is fix with the right crypto ach but nothing condemning banking system because banking systems services as medium of transactions between your account, the bank and you but Bitcoin is just you and your wallet, banking system maybe slow but is the oldest most reliable with assurance and accountability to customers. In Bitcoin you've explanations to anyone, and no retractable values in the aspect of missing funds. So banks play a vital roles in transactions but yes is slow than Bitcoin in delivery time.

I think you misunderstood what he was saying. He was saying Banks can't be like Bitcoin and Bitcoin is better than altcoin chains that claimed to be faster than Bitcoin. He is attributing Bitcoin to be the top level chain where you can make transaction without any challenges. If you use some network to do transaction, some exchanges stop deposits of them when they are offline until the maintenance is completed, this is what you will never see on Bitcoin.

He also said Bitcoin is better because you can do transaction without fee but banks charges people which he is not right in that statement. You can make Bitcoin transaction free if only that miners accept to mine that transaction. If they don't accept the transaction, you must pay for the transaction but they are slightly lower unlike banks that will charge you big fee and your transaction might not be completed on that day, some take days to finalize if they are check.

[Jammy01]

I agree with you
Especially when you want to send money to someone in another country, bitcoin make it easier than using a normal bank
But about it been fast and cheap, the fees needed to send bitcoin might go up and sometimes they're are not fast
I think bitcoin is really good for transactions because of its security and ease but it still needs to improve

[I_Anime]

Is actually the main reason bitcoin was created , allowing folks to send and recieve money directly without relying on traditional banks, governments or other intermediaries. Which is now also use to store value , making to have a lot of utility, and can also be seen has a form of investment due to it being volatile in nature due prices fluctuation . That’s with time many will start seeing bitcoin for the purpose it was made for and with time it will gain more adoption.

[Cryptomultiplier]

Traditional bank payments sometimes takes certain hours, and sometimes even several days or weeks to scale through due  to banks network system. You may also need to pay bank fees, especially if you’re sending money to someone in another currency like Italy or Germany.

With the help of fintech banks, fiat transactions are now easier and faster, delays rarely happen, even for large transactions.

Concerning bank delays and network problems, Bitcoin also has its own shortcomings. When the network becomes congested, transactions become stuck and take long hours, sometimes days if the sender refuses to adjust the fee to push the transaction in front or if the network takes longer to unclog, since miners will prioritize transactions with higher fees.

When it comes to explaining Bitcoin as a payment option, cross-border transactions without a central authority are actually what should be the head of discussion, and this is done conveniently, from the comfort of our home. Back in time, when it took stress, paperwork, and signatures, Bitcoin stepped in, and within seconds, payments can be completed and received in a short time.

So many replies have actually taken the words out of my mouth because in reality, the use of Bitcoin for transactions and payments has become more easier, despite the fact that you must pay some amount of network fees to miners to incentivise block inclusion.
However, market volatility could make fees be increased or when so many transactions have crowded the mempool.

The independence and privacy that Bitcoin's use for payments has created makes it a top notch choice also for me, even though we now have these fintech banks that makes things easier when we consider using traditional banking for local payments. There's also the regional consideration because while it may be easier from your end to use Bitcoin for payments, it may be harder from some locations.

The truth is that fintech banks has their limitations and across border payments could be one of them since they are still being monitored by CBN and that's where Bitcoin's effectiveness comes first as top option.

[Hazink]

Bitcoin transactions payments are Quick and  free,   it helps your transaction to proceed very fast just that it may take a few minutes and cost a few dollars to proceed.

a quick correction bitcoin transaction are not free of charges actually, because every bitcoin transaction transactions require you to pay some few sat as an incentives to the miner who process and include that block to the blockchain, saying it’s free is totally wrong.

Lol, this op either doesn’t know how bitcoin transactions work or it’s a typo error. If not, how can someone say bitcoin transactions are free when sometimes the fee to cover transaction costs is even higher than what we spend on local transactions, but it still doesn’t make local transactions better, nothing is better and more important than freedom and access to do what ever you want and when ever you want with your money.

[obuoma]

The only thing that makes some people use still use fiat for some transactions is Bitcoin not yet accepted by many businesses and merchants.  When we get to the point where all businesses in all nations accepts Bitcoin payment like they accept fiat, a lot of people including myself will go full Bitcoin. As expected, when that happens, we will have Bitcoib debit cards that will make these things easier.  The advantages Bitcoin have over fiat are just enormous.

[Agbamoni]

The traditional banking system can do most of the things you mentioned. I make use of a microfinance bank, and it is fast, transaction is smoth, reliable, and it doesnt take hours or weeks for a transaction receipt to be generated, whether the transfer is successful or not. What makes Bitcoin different is privacy, decentralization, easy cross border payment and purchases on platforms. Most traditional banks dont give this offers.

Bitcoin transactions payments are Quick and  free..

This is not true. Bitcoin transactions require a fee to carry out a successful transaction.

[GeorgeJohn]

Bitcoin has been well recognized than ever before and this is why many will make use of it for their transactions, in other for us to also engage the use of Bitcoin for making payments,

Making payments with bitcoin has not been generally accepted, so making a payments with bitcoin will be on agreement between you and someone you wants to make payments with..so i will disagree with you that not all transactions are done with bitcoin and they're people who doesn't find bitcoin worthy to transact with...so choosing bitcoin to make payment is a choice..

we have to consider where it is being made applicable and also know the regulation guiding the use of Bitcoin due to regional variation, bitcoin transactions or payments are more secured and reliable to do than the conventional traditional currency we have been used to before now.

Some people doesn't like to make transactions with bitcoin because of the charges that's involve, especially when they're using bitcoin ATM machine for the transactions, a traditional currency remain the best currency for within the country transactions..

[Mate2237]

The only thing that makes some people use still use fiat for some transactions is Bitcoin not yet accepted by many businesses and merchants.  When we get to the point where all businesses in all nations accepts Bitcoin payment like they accept fiat, a lot of people including myself will go full Bitcoin. As expected, when that happens, we will have Bitcoib debit cards that will make these things easier.  The advantages Bitcoin have over fiat are just enormous.

That is true this is why we have always advocated for Bitcoin to be used by every business man as it will do them alot of favour. Gradually we are going towards seeing Bitcoin been accepted as a means of payment in business. This will greatly help when it comes to payment especially inter border payment. With the coming on Bitcoin Fiat currencies has been left vulnerable because many people has come to see how their funds are been controlled by the banks and even the government. Bitcoin gives full control of their funds to holders giving individuals power over their.


One of the things that has been a problem to Bitcoin been accepted by Marchant, and business has been the volatile nature of Bitcoin. Many people argue that, since Bitcoin is not stable using it as a means of payment is not a too good idea because, volatility means that someone can pay for a goods this moment and in the next hour the price of Bitcoin has changed due to Volatility. This will be a loss in the traders end.

[macson]

Let's stop posting like this. I know your goal. Bitcoin isn't perfect, nor is it fast, nor is it free. Yes, you can transact with anyone in the world with Bitcoin, and I admit it's reliable. But let's be more realistic about what Bitcoin can do, and there's no need to exaggerate.

Also, I notice you're creating more threads. I suggest you stop doing that and start interacting like a regular forum member.

[ColdLava40]

The outline makes Bitcoin my choice of payment's methods.

We can put it like this, some quality of Bitcoin that makes it better?
Scarcity 100%
Divisibility? 100%
Store of value? I think this one should be less than 100% because on a long term scale of preference Bitcoins volatility doesn't permit it to be a good store of value but it does still fit.

If we want to look at specific reasons bitcoin is better, we could fixate on it's decentralized system. That quality makes it outstanding in every market or system when being compared to.

For speed, it might be dependent on the amount of fee you spent for the transaction and the status of the mempool at that time.

[salad daging]

we have to consider where it is being made applicable and also know the regulation guiding the use of Bitcoin due to regional variation, bitcoin transactions or payments are more secured and reliable to do than the conventional traditional currency we have been used to before now.

Some people doesn't like to make transactions with bitcoin because of the charges that's involve, especially when they're using bitcoin ATM machine for the transactions, a traditional currency remain the best currency for within the country transactions..

Hmm, I do not know how much it costs each time a transaction at a bitcoin ATM machine? What is higher than banking? I myself have never experienced it.

Yep, the local currency as a daily transaction, some countries still can not accept bitcoin as payment, my own country prohibits it unless BTC is considered a commodity asset.