Yet another reason why bitcoin matters...
If you didn't know bitcoin matters already, here is yet another reason why it matters...
People love to talk about the price of bitcoin and how awesome it is that their speculative bets keep making them money, but sometimes they fail to tell people why it actually matters.
They say it is going to change the world man, it's going to give you control over your own money man, take it back from the banks etc etc etc...
However, sometimes we just need some real simple numbers to show why bitcoin matters to the world...
(Source: https://www.ccn.com/while-wells-fargo-sees-an-epic-blackout-again-heres-why-bitcoin-matters/)
Another reason why bitcoin matters:
Right now, in the US, we have banks open for 40 hours a week.
That may sound like a lot, but not when you factor in the fact that there are 168 hours total in a week...
It doesn't sound so great then.
That means that banks are only open for 24% of the time you may need them during any given week!
Let that sink in a bit...
Lets say you need to urgently send money to someone, not only will the process take a while, charge you high fees, but you won't even be able to do it unless you do it during one of those magical 40 hours.
Talk about an archaic system!
By contrast, bitcoin lets you send money 100% of the time during the week.
There are drawbacks to being your own bank of course, such as having to secure and store you keys, but the pros outweigh the cons in most cases.
Just throw these numbers out to someone the next time they try to tell you bitcoin has no use cases.
This is just another reason why bitcoin matters...
Stay informed my friends.
-Doc
Further, when you send money with your bank, the money disappears from your account...
...
... and goes somewhere that no one knows, or can see... (for days)
...
... and then arrives at the place you sent it to. (maybe, sometimes, hopefully)
Money transfers have always been hectic and iffy. and in the dark.
With bitcoin, even while it's transactions are being hammered, you always know where your money is. You see your transaction in the mem-pool. You can estimate when it will be added to the block chain.
Very good point. Much more transparency throughout the entire process as well.
24/7 making money on BTC rocks! 😎
The stock market is only open 23% of the time... that is lame.
Yes it does...
Hi!
I strongly agree that Bitcoin will rule the future someday!
-pf
Why do you think that?
27/7 365
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What is this?
Hard work
Posted using Partiko Android
Did you mean 24/7 365?
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Thanks.
Or let us use your money to make money... Wait you want to send it let's charge you for it... You don't have enough let's charge you for that too. Wait you didn't spend enough we're going to charge you for that too. Banks are crazy.
Gouge you every way they can.
Take it a step deeper and that transfer may cost much more than if done with most crypto as well, even bitcoin!
Especially if sending large amounts of money.
Well in India, it is easy and fast to send small amounts up to $1450 to anyone in India through UPI. The transactions occur instantly and it’s non-chargeable. And also you don’t need the bank to be open to do the transaction. You can do it 24*7.
For the larger amounts, you can do imps and rtgs. Although there are some time restrictions and minimal fees is charged for the transactions. For the bigger amounts we would be needing bitcoin to perform the transactions in the future.
Interesting. Thanks for sharing. Very different here in the US. Especially if you are sending large amounts of money.
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