Being compared to those banks and remittances, bitcoin is better in many factors just like what you said. We don't need institute approval to finish a transaction and the fees are just way better especially if you conduct a big volume transaction. But bitcoin isn't really fast and cheap compared to other blockchain right now. This is why lightning network was created, which is to improve the weak side of bitcoin.

I know majority of us use bitcoin blockchain for a transaction and comparing it to newer blockchain, there is a vast difference.

I think people want to be in control of their money and not anyone else or governments so whatsoever challenge(s) that come with that is only secondary. You owe a car, you don't say because there are car thieves and then refuse to give yourself the pleasure of owing your own car. I  chose Bitcoin because it gives me the opportunity of being in control of my money and I can use it anywhere in the world and you know that's not possible with fiat.

Bitcoin transactions are fast and I think if you use the Lightning Network to make fast transactions, it will ensure instant payments but note that Bitcoin payments are not free. You should know that there is a small network fee or miner fee to pay when sending Bitcoin, but investors have the option to choose how much they will pay.

Transactions or payments through Bitcoin are now increasing because we have noticed this currency is also being accepted as payment in restaurants in different countries and many are considering Bitcoin as a means of payment, leaving the conventional banking system, which is probably because everyone has noticed it is possible to pay quickly and safely, as a result many are choosing the Bitcoin blockchain for most transactions.

Not the fastest we have on the crypto catalog  but it gets the job done in good time 

I believe this was a figure of speech to mean that when compared with fiat.. fees are peanuts when spending/sending out big money..nice word play, hope this was your intention 


I don't know, I think this is debatable considering it relies on what security measures a user has put in, and what kind of wallet you storing your bitcoins on( whether it's on a custodial or non custodial wallet). Security in the crypto world is a whole different ball game if you think about it.. imagine downloading a third party keyboard on your device only to find out later that your wallet i drained because that was a your source of compromise..like I said security in the crypto world is crazzy.

The fact that I have lived to see the Bitcoin network kind of break down when network was spammed with dust transactions to the point of pushing fees to over $100 per tx.. honestly I would say it's 90% reliable and only because we have other safeguards in place  today like RBF, Segwit BTC etcetera which makes it reliable   

Many people who have bitcoins and are also gamblers have not found it easy using their bitcoins for gambling transactions, if you doubt me, put up a poll and see.
This is why I have to say that although the transactions made with bitcoins are fast and reliable, it is not the preferred options for all forms of transactions.
Another scenerio where bitcoin is not suitable in my perspective for transaction is the use for payment for very little items that can easily be paid with cash.

If we compare traditional payments and Bitcoin, both have their advantages. I think banking is still the mainstay for everyday transactions because it's faster and can cover almost all your financial needs.
But when it comes to cross-border transactions, Bitcoin has the advantage because it allows you to send funds directly to anyone in a much faster time. It's not as fast or free as you say, since there are fees and waiting times, but it's much better than what bank payments offer.

the main advantage of Bitcoin over traditional banking: true financial sovereignty without borders or banking hours. Traditional cross-border wire transfers (SWIFT) are slow, expensive, and packed with hidden foreign exchange fees and intermediary bank charges. Bitcoin running 24/7/365 without needing permission from a bank manager is a massive leap forward. this might be lot of reason why people use bitcoin at first place.

Although Bitcoin network the L1 chain or the main chain isnt fast and comparing with other L1 but Its secure and already proved for the past decade

It's undeniable that Bitcoin is incredibly useful for conducting transactions or sending money. Especially when it comes to sending money between countries, the benefits of Bitcoin are clearly felt. Regardless of the distance from the South Pole to the North Pole, Bitcoin fees won't be much different than sending Bitcoin between cities. So, in essence, Bitcoin is truly inexpensive, practical, and easy to access. Therefore,, it's natural that many people use Bitcoin for international transactions. It's simply because it's incredibly convenient. However, for me personally,, I rarely use Bitcoin for transactions in my country. This is because very few people know about and use Bitcoin here. It's a shame,, but what can you do? Every person and place is different. So, I hope that in the future,, more people will learn about Bitcoin in my country. And besides that, for real life today, fiat money is clearly still very much needed, so that is also clearly undeniable.

That is correct, sometimes it takes 3 to 5 business days and fees of $25-$50 per SWIFT, plus fees of correspondent banks where applicable, and you don't know how much you are paying until you have got the money coming in. Bitcoin even at such busy time is cheaper and faster than this.


That is the critical element that many people are unaware, Bitcoin L1 does not exist in order to be fast, it exists to enable settlement and security. That is why Lightning Network are built on top of it, quick daily transaction. Lightning are like Visa running on top of banking system, Bitcoin running on top of Lightning. The two layers have different job.