Post
Topic
Board Bitcoin Discussion
Re: Best aspects of Bitcoin to tell someone about?
by
EndlessStory
on 24/05/2014, 07:09:03 UTC
When explaining bitcoins advantages over cash to someone else, there are a few things that come to mind:

1. They cannot be counterfeited
2. Can be sent anywhere in the world with no (or very very low) fees
3. Mining fees dont go to big banks
4. Low transaction fees, coinbase estimated bitcoin could reduce payment processing fees worldwide from $500 billion to $50 billion, so 1/10th of current level

Any other to add to the list?

5. The value of bitcoin will increase(deflate) over time as opposite to cash(inflate).

6. The value of Bitcoin is volatile and although you may go to the store with $100, by the time you get there you might only have $80

Indeed, It's a big problem and that's why people can trust bitcoin when buying something more expensive, But we can see this as an advantage for buying/selling for profit. The unstable price can make huge profit great example last 3 days when bitcoin went up about $80 and that's a huge profit If you have a pile of bitcoins.