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Why Bitcoin Transactions are cheap?

Posted: Fri Apr 07, 2017 6:01 am
by richardson
Hello, folks! I'm new to the Bitcoin world and was wondering why Bitcoin transactions cost lower than the transactions of fiat currency?

Re: Why Bitcoin Transactions are cheap?

Posted: Fri Apr 07, 2017 7:02 am
by rooney
Bitcoin being decentralized plays a huge part in Bitcoin transactions being cheaper than the fiat currency ones. Since the cryptocurrency doesn't need to go through a clearing house (Master card, Visa card) or monitored by the government or private regulatory authorities, the rates are set individually by each exchange company. The reason as to why these companies charge lower fees is just to attract more clients to expand their business.

Re: Why Bitcoin Transactions are cheap?

Posted: Sat Sep 09, 2017 11:18 am
by zach
Because Satoshi wants to minimize the burden of fiat money transaction’s cost.

Re: Why Bitcoin Transactions are cheap?

Posted: Sat Sep 09, 2017 11:19 am
by lahm
It performs all operation digitally, that’s why its cost is low

Re: Why Bitcoin Transactions are cheap?

Posted: Sat Sep 09, 2017 11:20 am
by kevin
I don’t know, but its good

Re: Why Bitcoin Transactions are cheap?

Posted: Sat Sep 09, 2017 11:20 am
by Kennedy
No idea

Re: Why Bitcoin Transactions are cheap?

Posted: Sat Sep 09, 2017 11:21 am
by karim
Transactions are done digitally, I don’t think so it needs any charges, yes companies charge more.

Re: Why Bitcoin Transactions are cheap?

Posted: Sat Sep 09, 2017 11:21 am
by katie
Bitcoin is not in control of any government or any other authority, that’s why its price is not too much high.

Re: Why Bitcoin Transactions are cheap?

Posted: Sat Sep 09, 2017 11:22 am
by itsbriskbaby
You should be relaxed because of its price. it’s good that it has a low price.

Re: Why Bitcoin Transactions are cheap?

Posted: Sat Sep 09, 2017 11:22 am
by katharine
Thank God! It has low transaction cost.

Re: Why Bitcoin Transactions are cheap?

Posted: Sat Sep 09, 2017 11:23 am
by hipcolumn
Just enjoy the low-cost facility and don’t think about its reason

Re: Why Bitcoin Transactions are cheap?

Posted: Sat Sep 09, 2017 11:24 am
by hellGrinder
Did you tell me how much Bitcoin do you have?

Re: Why Bitcoin Transactions are cheap?

Posted: Sat Sep 09, 2017 11:25 am
by howard
You have a benefit, why you are digging for the reason.

Re: Why Bitcoin Transactions are cheap?

Posted: Sat Sep 09, 2017 11:25 am
by fox
May be its electronic process need no fee, but it’s holder charge for services

Re: Why Bitcoin Transactions are cheap?

Posted: Sat Sep 09, 2017 11:26 am
by hendo
Bitcoin enjoys the monopoly in price. Decentralization making it more reliable among the users. that’s why its transaction cost is very low.

Re: Why Bitcoin Transactions are cheap?

Posted: Sat Sep 09, 2017 11:26 am
by Hart
No idea

Re: Why Bitcoin Transactions are cheap?

Posted: Sat Sep 09, 2017 11:27 am
by bain
I didn’t think about it

Re: Why Bitcoin Transactions are cheap?

Posted: Sat Sep 09, 2017 11:28 am
by bravure
It’s confusing, I also didn’t get the right answer.

Re: Why Bitcoin Transactions are cheap?

Posted: Sat Sep 09, 2017 11:29 am
by bennett
Why are you not enjoying the fuckin low transactional cost benefit? I don’t think so, you have a valid point about it

Re: Why Bitcoin Transactions are cheap?

Posted: Sat Sep 09, 2017 11:29 am
by bitcores
Its whole system performs digitally, which consume the cost of transportation, agent’s fee, taxes and most important timing.

Re: Why Bitcoin Transactions are cheap?

Posted: Sat Sep 09, 2017 11:30 am
by btccherry
Jesus knows well!

Re: Why Bitcoin Transactions are cheap?

Posted: Sat Sep 09, 2017 11:30 am
by vik
I don’t know why but I know I have coins, spend them in daily routine.