Post
Topic
Board Bitcoin Discussion
Re: Why Bitcoin is better than Cash.
by
behindcrypto
on 09/10/2017, 07:01:12 UTC
Volatility:
It may seem, that Bitcoin is too volatile and the price jumps like crazy Compared to USD, EUR, GBP - Yes Compared to the currency of Ukraine, Argentina and dozens of other currencies it’s much better

Value:
Bitcoin is deflational This means, that supply is limited and noone can just print more money In the USSR there was a day, when the goverment decided to divide the value of it’s official currency by 10. With Bitcoin it’s not possible

Transaction fees:
Western union or other similar services usually take 1–5% for a transfer of money With the Bitcoin the usual transaction fee is a couple of cents and you can even pay less if you’re not in a hurry

Portability:
As long as you are able to store 256 bits you can have bitcoins You can write the key at the piece of paper or even remember it

Transferability:
The usual transaction time is negligible (<1s) But if your transaction is extremely important you need to wait for 6 blocks (6 confirmations) which is usually around 1 hour

Security:
If your bank goes down - you’re screwed In Bitcoin nothing can go wrong except that you can loose the key

Deniability:
The bank is a single point of failure If your bank goes down - you’re screwed Bitcoin has a distributed nature, which makes it extremely resilient to different types of attacks

Divisibility:
You can have/buy/transfer as little as ~0.0000071411 USD (at current price) in Bitcoin. It’s the smalest unit and it equals to 0.00000001 BTC