What Makes Bitcoin Special?

[Chrenova 182]

Why would anyone bother creating a digital currency? After all, our savings and earnings are recorded and traded digitally. At first glance, it may seem that there is no need for a digital currency when our transactions work well on a day-to-day basis.

But more is happening, and it is understandable why financial institutions would be largely opposed to something like Bitcoin.

Banks are the intermediaries for your transactions. He opens an account to store funds, which he records in his own ledger. You send some money to your friend, but the bank performs the transaction on your behalf. Update your and your friend's account to match debit and credit.

But the bank doesn't do this for free, and of course you have to find ways to generate your own income. One way to do this is to charge a fee for transactions. This is more important in an international transaction which, if you have tried it, is expensive and time consuming. Large transitions can have fees in the thousands of dollars range and weeks to confirm.

[Ale1Porrello 75]

From my point of view, what gives bitcoin that characteristic that makes thousands of traders use it is because it is a currency that is out of all manipulation and regulation! Apart from being a currency that can help you generate a lot of money.

[Litsuga 65]

Well, the way it is done is a very good idea, people know that the less there is of something, the more value it has and it is the idea of Bitcoin that every time the amount of Bitcoin is reduced and that over time it will do very very  valuable

[gest49 84]

What makes bitcoin special is that not even the most specialists can determine if its value is going to rise or fall, in addition to being the basis of many other currencies. Besides that it is not handled like traditional currencies, no one can alter it at will, besides that it has made many people earn large amounts of money quickly.

[Vina Ameliar 67]

The most important think is you can transfer transaction with huge amount across the world faster than bank account, probably if you transfer from bank account with huge amount they manual verification and that make it longer. Bitcoin transparancy transaction is good, you can track the confirmation of transaction, Bitcoin cant be dispute like other virtual transaction like paypal or etc because transaction is one way process.

[Mella 3680]

Banks are changing and maybe they will make it easier for their customers to do make internationale transactons but they are very behind the crypto. Banks use fiat money that needs the banks to survive. They are centralized. Crypto uses blockchain that needs to record everything and be secure. They are decentralized.

[arnosk 228]

In an ideal world there would be bitcoin (or an other coin) The banks would be gone because nobody want to pay their fees and want to be tracked all the time. But unfortunately the banks and governments are not going to let that happen. They have the power to make bitcoin illegal, and say that is a bad thing.  Only because they want to have control over the financial system. 

[hasaan 289]

Bitcoin is very much different from the general financial system and the transaction system is the totally different. The main key actor of the btc is the system is decentralize and one ca transfer a huge amount with in a short period of time through btc.

[Amiami 1362]

The purpose of Bitcoin and cryptos in general is simply to create a decentralized market, where everyone can own their funds without depending on a regulatory entity such as a bank, in order to streamline money transactions worldwide, where a  Chinese and an Argentine can do business in seconds and not weeks.

[Adam adam 276]

Let's think rationally if Bitcoin were a failure it wouldn't receive all this increased attention. It really has contributed to the change of the global financial system from the classic to a very powerful technology, which is the blockchain and the next scenario in which Bitcoin will appear more strongly.

[Sherrybhai 385]

Hello my friend, bitcoin is different because unlike altcoins, Bitcoin created a new category and had the network effect as a result. Bitcoin is different because unlike decentralized coins it's market driven, immutable and unseizable.bitcoin has a global acceptance and is less volatile than cadh or local currency. Due to thses features it makes bitcoin a valuable currency nowadays.

[Simon London 1749]

Hello everyone, I consider that bitcoin is special since it is a means of electronic exchange that helps us to acquire products and services like any other currency, it is a decentralized currency, that is, there is no authority or government that is responsible for its issuance and registration of its movements, and of course it is the most popular currency with the highest capitalization.

[M.bello 1015]

Hello everyone on my own point of view bitcion is so special than other and many people earn a lot of income on it if they invest on bitcion, like me i buy bitcion when the price fall, interm of buying bitcion is fast and affordable which you can easily earn huge amount of money 

[matias estigarribia 1605]

Bitcoin was created to give us freedom and that is priceless. People are tired of the current financial system, which is so slave and corrupt. I have no doubt that BTC and cryptocurrencies are the future of today's economy!

[wassim19 645]

Bitcoin has been created so that there is decentralization and no one controls your money or imposes taxes on you, freedom of payment. Any amount of money can be sent and received in real time from or to anywhere in the world at any time in addition to that it greatly helps the inhabitants of poor countries because it has become a source of income. For many people

[Mouhadheb 196]

Bitcoin is much more powerful than what we hear every day and we may see the real powers of it in the next ten years. Do not hear anyone talking to you about the weakness of the Bitcoin currency and that it is a bubble, and try to store as much of it as possible because it is a wealth that few people know.

[decemberends 1881]

Im not sure how its kind of special but i know the fact there was a event that caused to be this bitcoin to be a special one and the value is very stable when it rose up and many people profited from this what caused bitcoin to be good until now.

[Syedbesharat 5423]

BTC is unique conceptual currency generated at net for financial and economic stability in society where the fiat system fail to achieve. Btc is run through decentralised system and the centralistion isn't involved in BTC. Btc is untraceable ans uncrackable which gives a strong point where it cannot be imprented illegal and no-one can create fake BTC. AS For BTC have many advantages and can be used as legal payment. 

[kryptonick 2659]

On 10/9/2020 at 2:56 PM, Chrenova said:

This is more important in an international transaction which, if you have tried it, is expensive and time consuming. Large transitions can have fees in the thousands of dollars range and weeks to confirm.

The most important part of Bitcoin is there is no authority that would block a transaction. The decentralized nature of Bitcoin gives access to worldwide financial freedom. You control your private keys means you are in control of your funds, not the bank or the government or anyone else will block your transaction for any reason.

[The Game 2059]

Bitcoin have proven itself to be more efficient and reliable in the world of crypto currencies. However bitcoin have freedom of payments during exchange and it have a very low fees in term of charge rate.

[zhoutong 2188]

Bitcoin is the first form of digital money that has given power to the owner and value to keep the bitcoin. Storing fiat in a bank for years will only mean that it will be weaker later. It is not what we want to work for nothing. The system of fiat currency has weaknesses that Bitcoin make it better.

[Edwinvicky 819]

The freedom to control your funds without government involvement or bank is the most characteristics of bitcoin, another one is the low fee charged to transfer your funds. Ability to trade and invest and make huge profits that is bigger than what bank offers yearly for their fixed deposit or investment. These are some of the reasons banks and government are against BTC.

[cryptovlek 2597]

Thanks for these thoughts about Bitcoin. Bitcoin in many ways is becoming adopted and used. It is not only investment but it is an easy way to transfer this investment to someone else, take it with you in a mobile, hardware or paper wallet, or even just remember a passphrase, have encoded somewhere theworsd you will need. You can't do that with anything else.

[Cryptic 0]

Aside from being used to gain profit, Bitcoin or should I say cryptocurrency as a whole have other reasons why it is special, the most common is the security as it is decentralized and no single authority have a control on it, and the way the blockchain works it is very amazing since if I'm not mistaken until now no one ever tried to tampered it. Also yeah it is very convenient to use as payment since you just need you smartphone and internet.

[Naylor89 1223]

The biggest thing that makes Bitcoin special is its decentralization. So therefore nobody owns it and nobody controls it. Transactions can't be stopped and also can't be reversed. You can get any amount of Bitcoin regardless of age or financial status. Bitcoin is one of the best man-made.