Why Bitcoin Transactions are cheap?

richardson
Posts: 84
Joined: Fri Apr 07, 2017 5:54 am

Why Bitcoin Transactions are cheap?

Postby richardson » Fri Apr 07, 2017 6:01 am

Hello, folks! I'm new to the Bitcoin world and was wondering why Bitcoin transactions cost lower than the transactions of fiat currency?
Last edited by richardson on Wed Apr 12, 2017 11:36 am, edited 1 time in total.
rooney
Posts: 99
Joined: Thu Apr 06, 2017 8:49 am

Re: Why Bitcoin Transactions are cheap?

Postby rooney » Fri Apr 07, 2017 7:02 am

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.
zach
Posts: 226
Joined: Wed Apr 19, 2017 7:18 am

Re: Why Bitcoin Transactions are cheap?

Postby zach » Sat Sep 09, 2017 11:18 am

Because Satoshi wants to minimize the burden of fiat money transaction’s cost.
lahm
Posts: 209
Joined: Wed Apr 19, 2017 7:28 am

Re: Why Bitcoin Transactions are cheap?

Postby lahm » Sat Sep 09, 2017 11:19 am

It performs all operation digitally, that’s why its cost is low
kevin
Posts: 114
Joined: Thu Apr 06, 2017 8:09 am

Re: Why Bitcoin Transactions are cheap?

Postby kevin » Sat Sep 09, 2017 11:20 am

I don’t know, but its good
Kennedy
Posts: 114
Joined: Fri Apr 07, 2017 12:55 pm

Re: Why Bitcoin Transactions are cheap?

Postby Kennedy » Sat Sep 09, 2017 11:20 am

No idea
karim
Posts: 212
Joined: Wed Apr 19, 2017 7:31 am

Re: Why Bitcoin Transactions are cheap?

Postby karim » Sat Sep 09, 2017 11:21 am

Transactions are done digitally, I don’t think so it needs any charges, yes companies charge more.
katie
Posts: 99
Joined: Tue Aug 22, 2017 12:49 pm

Re: Why Bitcoin Transactions are cheap?

Postby katie » Sat Sep 09, 2017 11:21 am

Bitcoin is not in control of any government or any other authority, that’s why its price is not too much high.
itsbriskbaby
Posts: 123
Joined: Wed May 03, 2017 7:34 am

Re: Why Bitcoin Transactions are cheap?

Postby itsbriskbaby » Sat Sep 09, 2017 11:22 am

You should be relaxed because of its price. it’s good that it has a low price.
katharine
Posts: 112
Joined: Tue Aug 22, 2017 12:47 pm

Re: Why Bitcoin Transactions are cheap?

Postby katharine » Sat Sep 09, 2017 11:22 am

Thank God! It has low transaction cost.
hipcolumn
Posts: 187
Joined: Wed Apr 26, 2017 8:49 am

Re: Why Bitcoin Transactions are cheap?

Postby hipcolumn » Sat Sep 09, 2017 11:23 am

Just enjoy the low-cost facility and don’t think about its reason
hellGrinder
Posts: 191
Joined: Wed May 03, 2017 7:45 am

Re: Why Bitcoin Transactions are cheap?

Postby hellGrinder » Sat Sep 09, 2017 11:24 am

Did you tell me how much Bitcoin do you have?
howard
Posts: 135
Joined: Fri Apr 07, 2017 6:03 am

Re: Why Bitcoin Transactions are cheap?

Postby howard » Sat Sep 09, 2017 11:25 am

You have a benefit, why you are digging for the reason.
fox
Posts: 126
Joined: Sat Apr 08, 2017 8:50 am

Re: Why Bitcoin Transactions are cheap?

Postby fox » Sat Sep 09, 2017 11:25 am

May be its electronic process need no fee, but it’s holder charge for services
hendo
Posts: 155
Joined: Thu Apr 06, 2017 10:48 am

Re: Why Bitcoin Transactions are cheap?

Postby hendo » Sat Sep 09, 2017 11:26 am

Bitcoin enjoys the monopoly in price. Decentralization making it more reliable among the users. that’s why its transaction cost is very low.
Hart
Posts: 123
Joined: Sat Apr 08, 2017 8:33 am

Re: Why Bitcoin Transactions are cheap?

Postby Hart » Sat Sep 09, 2017 11:26 am

No idea
bain
Posts: 92
Joined: Tue Apr 25, 2017 5:24 am

Re: Why Bitcoin Transactions are cheap?

Postby bain » Sat Sep 09, 2017 11:27 am

I didn’t think about it
bravure
Posts: 163
Joined: Wed Apr 26, 2017 8:39 am

Re: Why Bitcoin Transactions are cheap?

Postby bravure » Sat Sep 09, 2017 11:28 am

It’s confusing, I also didn’t get the right answer.
bennett
Posts: 91
Joined: Fri Apr 07, 2017 6:29 am

Re: Why Bitcoin Transactions are cheap?

Postby bennett » Sat Sep 09, 2017 11:29 am

Why are you not enjoying the fuckin low transactional cost benefit? I don’t think so, you have a valid point about it
bitcores
Posts: 84
Joined: Wed Apr 26, 2017 8:29 am

Re: Why Bitcoin Transactions are cheap?

Postby bitcores » Sat Sep 09, 2017 11:29 am

Its whole system performs digitally, which consume the cost of transportation, agent’s fee, taxes and most important timing.
btccherry
Posts: 166
Joined: Wed Apr 26, 2017 8:30 am

Re: Why Bitcoin Transactions are cheap?

Postby btccherry » Sat Sep 09, 2017 11:30 am

Jesus knows well!
vik
Posts: 237
Joined: Wed Apr 19, 2017 7:20 am

Re: Why Bitcoin Transactions are cheap?

Postby vik » Sat Sep 09, 2017 11:30 am

I don’t know why but I know I have coins, spend them in daily routine.

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