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Reminder to the new Bitcoiners of what we stand for since inception.
Transactions: "Bitcoin transactions can be confirmed within 10 to 20 minutes. Unlike banks, Bitcoin operates 24/7 without downtime. Cross-border payments can be made instantly without waiting for business hours. The peer-to-peer nature reduces the time spent on intermediary approvals. Users can track transactions in real-time on the blockchain." Fees: "Transaction fees for Bitcoin can be as low as a few cents. Banks may charge flat fees or percentage-based fees that add up quickly. Bitcoin's fee structure is transparent and predictable. No currency conversion fees for Bitcoin payments. Users can choose to set their fees based on priority, allowing for flexibility." Permissionless, verifiable, monetary freedom: "Users retain full control over their funds without intermediaries. Decentralization decreases the likelihood of systemic failures. Every transaction is recorded on a public ledger, enhancing transparency. Enhanced security features protect against hacking and fraud. It empowers unbanked populations to access financial services." Source: https://osl.com/academy/article/bitcoin-for-global-payments-why-its-faster-and-cheaper-than-banks submitted by /u/2hy2care [link] [comments]
Transactions:
"Bitcoin transactions can be confirmed within 10 to 20 minutes.
Unlike banks, Bitcoin operates 24/7 without downtime.
Cross-border payments can be made instantly without waiting for business hours.
The peer-to-peer nature reduces the time spent on intermediary approvals.
Users can track transactions in real-time on the blockchain."
Fees:
"Transaction fees for Bitcoin can be as low as a few cents.
Banks may charge flat fees or percentage-based fees that add up quickly.
Bitcoin's fee structure is transparent and predictable.
No currency conversion fees for Bitcoin payments.
Users can choose to set their fees based on priority, allowing for flexibility."
Permissionless, verifiable, monetary freedom:
"Users retain full control over their funds without intermediaries.
Decentralization decreases the likelihood of systemic failures.
Every transaction is recorded on a public ledger, enhancing transparency.
Enhanced security features protect against hacking and fraud.
It empowers unbanked populations to access financial services."
Source: https://osl.com/academy/article/bitcoin-for-global-payments-why-its-faster-and-cheaper-than-banks
[link] [comments]
