Bank experience makes me love Bitcoin more - page 4.

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: pedrog on March 15, 2016, 12:58:32 PM

There was no stress test, just people moving their bitcoins to buy Ethereum.

There was an attack. Stop posting misleading information.

Quote from: tiggytomb on March 15, 2016, 01:46:20 PM

Why would you choose to wait 48 hours when you could wait just minutes, it's examples like this that the public need to hear and not the other negative stuff that gets thrown around the news. Then I suppose you never really see much positive stuff in the news.

Technically if both parties trust each other then you don't need to wait much more than a few seconds. Transactions are instant, confirmations take time.

Quote from: -XXIII- on March 15, 2016, 01:55:12 PM

After taking out $40 from their ATM, after paying the $3 fee..

I recently had someone send me money via WU, they had to pay a few higher than 10% of the transaction sent. It's strange that some people complain now that Bitcoin has high fees (less than 10 cents for any amount) when you consider your other options.

-XXIII-

member

Activity: 112

Merit: 10

Here's my recent experience:

After taking out $40 from their ATM, after paying the $3 fee, needing to break a $20 I politely asked a teller if she may do this for me. She says, "sure" and proceeds to ask for my account information. "I don't have a bank account here, I just used the ATM" I reply. The teller exclaims, "Oh, ok, can I just get two pieces of ID for our records". "No." I said, and stormed out accidentally slammed open the door too hard in my rage that it almost broke off the hinges.

abonarea

legendary

Activity: 1526

Merit: 1003

Most of the people are attracted towards because of these existing problems and delay which are part of banking system.Bitcoin came out as hope and complete solution of these matter that makes it useful and is making it successful by and by.

boopy265420

legendary

Activity: 1876

Merit: 1005

Bitcoin is to be loved because of its revolutionary innovation.The other thing is banks also have jumped into blockchain technology but still they didn't embraced Bitcoin with open heart.Bitcoin is to exist and survive as third independent option which will work as check and balance on traditional methods.

tiggytomb

legendary

Activity: 1848

Merit: 1000

That is a good example, it just makes sense. Why would you choose to wait 48 hours when you could wait just minutes, it's examples like this that the public need to hear and not the other negative stuff that gets thrown around the news. Then I suppose you never really see much positive stuff in the news.

pedrog

legendary

Activity: 2786

Merit: 1031

Quote from: Kprawn on March 15, 2016, 01:15:12 PM

Quote from: pedrog on March 15, 2016, 12:58:32 PM

There was no stress test, just people moving their bitcoins to buy Ethereum.

Then we need to wait for the congestion to happen again, when they realized they made a huge mistake and they start buying Bitcoin again. Most people cannot even pronounce the word Ethereum

without people thinking they have a bad lisp { speech impediment } The dump will happen as soon as the price of Ethereum has reached the level where people pumping it, seems satisfied that they

will be guaranteed a big enough profit. I will never buy into this pump n dump scheme, knowing what I know now.. Same goes for Dash and the Alt coins before that. Sad

Imagine Mike Tyson saying 'Ethereum', it sounds normal. Cheesy

franky1

legendary

Activity: 4214

Merit: 4458

Quote from: Kprawn on March 15, 2016, 12:55:42 PM

My brother bought a second hand car a week ago, and he went into the bank to transfer the money for the car to the dealers account at another bank. The dealer already finished all paper work and

transfer of ownership and also road worthy testing and insurance etc, but cannot deliver the car to him, because the money has not been successfully transferred by the bank. They have a 48 hour

transfer period between different banks. In this day and age, we still have to wait for a minimum of 48 hours to successfully transfer money between banks. Huh

Everyone should stop complaining about Bitcoin transaction confirmation times, because with the correct fees, you will rarely see anything like this happen under normal {non-stress test} conditions.

You just have to love Bitcoin. Grin

important to note.
bank wire transfers can near instantly inform you the funds are moving. but can take 3-5 business days (2days in Kpawns experience)
VISA card payments can near instantly inform you the funds are on the move. but can take 3-5 business days
bitcoin can near instantly inform you the funds are on the move. but can take 10minutes to an day.

and so it is faster. but its not guaranteed 10 minutes. even paying a fee its not guaranteed.
but with a fee, have high expectations of it being under 1 hour. which is atleast 47 times better than banks

Kprawn

legendary

Activity: 1904

Merit: 1073

Quote from: pedrog on March 15, 2016, 12:58:32 PM

There was no stress test, just people moving their bitcoins to buy Ethereum.

Then we need to wait for the congestion to happen again, when they realized they made a huge mistake and they start buying Bitcoin again. Most people cannot even pronounce the word Ethereum

without people thinking they have a bad lisp { speech impediment } The dump will happen as soon as the price of Ethereum has reached the level where people pumping it, seems satisfied that they

will be guaranteed a big enough profit. I will never buy into this pump n dump scheme, knowing what I know now.. Same goes for Dash and the Alt coins before that. Sad

sallymeeh27

full member

Activity: 210

Merit: 100

www.secondstrade.com - 190% return Binary option

This is much better of course. I really wish that bitcoin will conquer the world. Banks and its system are really old. Everything has to put on approval manually. Banking hours, even if this is actually your own money. They might begin to ask you for some identification like as if your taking others money, so frustrating..

Daniel91

legendary

Activity: 3374

Merit: 1824

Quote from: Kprawn on March 15, 2016, 12:55:42 PM

My brother bought a second hand car a week ago, and he went into the bank to transfer the money for the car to the dealers account at another bank. The dealer already finished all paper work and

transfer of ownership and also road worthy testing and insurance etc, but cannot deliver the car to him, because the money has not been successfully transferred by the bank. They have a 48 hour

transfer period between different banks. In this day and age, we still have to wait for a minimum of 48 hours to successfully transfer money between banks. Huh

Everyone should stop complaining about Bitcoin transaction confirmation times, because with the correct fees, you will rarely see anything like this happen under normal {non-stress test} conditions.

You just have to love Bitcoin. Grin

I agree with you.
Bitcoin is future, banks are old history, dinosaurs

We still have a long way to pass, and also we have to overcome oppositions from financial institutions and people which don't understand BTC but as more and more people become Bitcoin users, it will be more difficult to stop us until we become mainstream and official currency for payments.
It was the same with Internet.
In the beginning nobody trusted it and only a few people in universities used it.
In the beginning mostly students used internet for communication and games but now all banks using internet for money transfers and bank accounts.
It will be the same for bitcoin.

pedrog

legendary

Activity: 2786

Merit: 1031

There was no stress test, just people moving their bitcoins to buy Ethereum.

Kprawn

legendary

Activity: 1904

Merit: 1073

My brother bought a second hand car a week ago, and he went into the bank to transfer the money for the car to the dealers account at another bank. The dealer already finished all paper work and

transfer of ownership and also road worthy testing and insurance etc, but cannot deliver the car to him, because the money has not been successfully transferred by the bank. They have a 48 hour

transfer period between different banks. In this day and age, we still have to wait for a minimum of 48 hours to successfully transfer money between banks. Huh

Everyone should stop complaining about Bitcoin transaction confirmation times, because with the correct fees, you will rarely see anything like this happen under normal {non-stress test} conditions.

You just have to love Bitcoin. Grin

Topic: Bank experience makes me love Bitcoin more - page 4. (Read 2626 times)