Bank or Bitcoin Wallet? - page 27. | Bitcointalksearch.org

chaser15

legendary

Activity: 2688

Merit: 1065

Undeads.com - P2E Runner Game

Quote from: dhampir-D on September 20, 2016, 08:37:04 PM

The banks offer you a lot of services that may drain your money... where the fees depend on the banking service you use. These things don't happen with btc though.

Lots of services that may drain people's money?

It's not wrong to have a good practice if you will understand the term first before doing such banking things.

dhampir-D

sr. member

Activity: 454

Merit: 250

The banks offer you a lot of services that may drain your money... where the fees depend on the banking service you use. These things don't happen with btc though.

ajun96

hero member

Activity: 658

Merit: 500

Quote from: mlbs on September 17, 2016, 07:06:55 PM

I prefer botj.. Due to some may not accpt btc yet.. Atleast u have an alternative ways to use.

true it was while bitcoin has not been so accepted of course you can not use bitcoin directly or overall. so you have to use an alternative to fiat and you will need bank to keep all the your fiat money. so I think we now need both bank and bitcoin wallet

livinglegend

member

Activity: 84

Merit: 10

I use both, but I think bitcoin wallet is the best alternative, because of its simple process, with no high fees for transaction. It's not the same with banks, especially if you are processing payment at higher amount.

pearnapple

sr. member

Activity: 504

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

Quote from: MWesterweele on September 19, 2016, 10:26:38 AM

Quote from: Betwrong on May 27, 2016, 03:36:13 AM

Most of us have both. Unfortunately we can't have only Bitcoin Wallet to serve all our needs nowadays. I know some people are having fun trying to live using a Bitcoin Wallet only and I also know that some of them succeed but if you have a family to care about that's impossible now.

Yes thats pretty true most of us are can't use bitcoin wallet because they don't know what is bitcoin wallet is or what is it in the short some of us as trying to live using bitcoin that they can easily get money there by gambling or anything else

you are right, though the life would be way easier if we had an opportunity to use bitcoins all the time

btcking101

full member

Activity: 140

Merit: 100

Quote from: soros017 on September 19, 2016, 09:35:48 PM

In my opinion btc wallets are a safer option. In the Banks, fees are higher and there is the problem of centralization, but it's still the most practical way.

I completely disagree with you and i feel more safe in bank for putting my large some of money than in bitcoin wallets.In bitcoin wallet we cannot meat their support staff and cant see them in our locality but in my bank i can regularily have a view there,talk to managers for any problem.Even i cannot compare banks with bitcoin wallets.

Conus

full member

Activity: 236

Merit: 250

Quote from: StoreBit on September 20, 2016, 02:56:27 AM

we are not going to compare the banks with bitcoin wallets i think we just want to know the importance of both the banks and bitcoin wallets, because bitcoin wallet is important for keeping bitcoin because we cannot store bitcoin in banks and banks are important because we cannot store fiat currency in bitcoin wallet. so to me both are important and have their own place.

I personally have to agree with you and have to put out there that this question is a little premature. There is not enough use for bitcoin out there yet, so choosing between the bank and a bitcoin wallet at this point would be useless. If you could pay for everything in life with bitcoin, then there would be a debate, but you can not. Just my opinion.

John Constantine

full member

Activity: 126

Merit: 100

I prefer to choose both, because I use btc as an investment and, in the other hand, the bank account give me the possibility to get the physical money, which may be obtained from btc...

chaser15

legendary

Activity: 2688

Merit: 1065

Undeads.com - P2E Runner Game

Quote from: bamboylee on September 20, 2016, 04:16:39 AM

I do not think normal people will be storing gold. Those are options of the rich and the wealthy people only. Both of them have their pros and cons. It actually depends on the user which benefits them the most.

That is exactly the main thing. Also people have different preferences and factors to consider on what investment they will choose.

Bitcoin or Gold, Bitcoin Wallet or Bank, doesn't make sense since were all not have the same desired. Choose what you want and I will choose what I want. Just don't say anything about negative issues for both concerns if no valid claims and suppports.

The_Dark_Knight

hero member

Activity: 840

Merit: 502

Quote from: sirohige on September 19, 2016, 10:14:45 AM

each people have diffirent needs, like me im not yet married so i prefered to use bitcoin, for saving my money for long term and hidden from my future wife Cheesy

Bitcoin may be a good option to save your money long term, but to hide money from your future wife? That could work but don’t you think it’s better to not marry if you don’t trust your significant other.

zahra4577

hero member

Activity: 518

Merit: 500

Quote from: mirakal on September 20, 2016, 01:04:03 AM

Quote from: soros017 on September 19, 2016, 09:35:48 PM

In my opinion btc wallets are a safer option. In the Banks, fees are higher and there is the problem of centralization, but it's still the most practical way.

If you will compare the bitcoin wallet to banks the obvious answer is bank is more safer, nothing can be safer than bank because our money is subject for insurance and if robberies happens or bankruptcy, we can assurance our money will be back.

But the problem with bank is your money is known to government and they can impose tax on it.If you convert all in bitcoin and keep it safely,nobody will know

madwica

hero member

Activity: 714

Merit: 531

Quote from: dezoel on September 20, 2016, 04:26:48 AM

Quote from: bamboylee on September 20, 2016, 04:16:39 AM

Quote from: 20kevin20 on September 18, 2016, 02:30:46 PM

Quote from: greBit on September 18, 2016, 02:16:04 PM

Quote from: The_Dark_Knight on September 18, 2016, 02:01:21 PM

Quote from: dhimasnk on September 17, 2016, 02:53:15 PM

in terms of security, the bank is better than bitcoin wallet, because the banks protected by the government and an authorized financial institution

I disagree since the wallet protects you precisely form those banks and governments, that is something that the bank won’t do

If your bank account gets hacked then banks will stand in your support to recover your money, but if your bitcoin wallet gets hacked then there is a least chance to recover them.

Banks won't stand in your support. If it wasn't for their own advantage, they would never do it. They're helping you because not doing so would lower their reputation (imagine a website being hacked, money being stolen from users... now imagine the difference between him trying the best to take the money back and him leaving the Internet and going away with his profits caring nothing about their users). So they are both a bad option for long term (years) storage. Storing your money in pure gold is the best option to rely on.

I do not think normal people will be storing gold. Those are options of the rich and the wealthy people only. Both of them have their pros and cons. It actually depends on the user which benefits them the most.

Yes gold is an investment of rich people and not all can afford to invest in it, and I have seen many people who will prefer to invest first in life insurance and then think of other investments.

Agree that we need first to insured our life before thinking other things, and also true that not all people can afford to invest in gold even people have more money they will prefer to invest in fast with high return of investment and bitcoin is the one they will prefer i think.

dezoel

legendary

Activity: 2044

Merit: 1075

Leading Crypto Sports Betting & Casino Platform

Quote from: bamboylee on September 20, 2016, 04:16:39 AM

Quote from: 20kevin20 on September 18, 2016, 02:30:46 PM

Quote from: greBit on September 18, 2016, 02:16:04 PM

Quote from: The_Dark_Knight on September 18, 2016, 02:01:21 PM

Quote from: dhimasnk on September 17, 2016, 02:53:15 PM

in terms of security, the bank is better than bitcoin wallet, because the banks protected by the government and an authorized financial institution

I disagree since the wallet protects you precisely form those banks and governments, that is something that the bank won’t do

If your bank account gets hacked then banks will stand in your support to recover your money, but if your bitcoin wallet gets hacked then there is a least chance to recover them.

Banks won't stand in your support. If it wasn't for their own advantage, they would never do it. They're helping you because not doing so would lower their reputation (imagine a website being hacked, money being stolen from users... now imagine the difference between him trying the best to take the money back and him leaving the Internet and going away with his profits caring nothing about their users). So they are both a bad option for long term (years) storage. Storing your money in pure gold is the best option to rely on.

I do not think normal people will be storing gold. Those are options of the rich and the wealthy people only. Both of them have their pros and cons. It actually depends on the user which benefits them the most.

Yes gold is an investment of rich people and not all can afford to invest in it, and I have seen many people who will prefer to invest first in life insurance and then think of other investments.

bamboylee

hero member

Activity: 1148

Merit: 504

Quote from: 20kevin20 on September 18, 2016, 02:30:46 PM

Quote from: greBit on September 18, 2016, 02:16:04 PM

Quote from: The_Dark_Knight on September 18, 2016, 02:01:21 PM

Quote from: dhimasnk on September 17, 2016, 02:53:15 PM

in terms of security, the bank is better than bitcoin wallet, because the banks protected by the government and an authorized financial institution

I disagree since the wallet protects you precisely form those banks and governments, that is something that the bank won’t do

If your bank account gets hacked then banks will stand in your support to recover your money, but if your bitcoin wallet gets hacked then there is a least chance to recover them.

Banks won't stand in your support. If it wasn't for their own advantage, they would never do it. They're helping you because not doing so would lower their reputation (imagine a website being hacked, money being stolen from users... now imagine the difference between him trying the best to take the money back and him leaving the Internet and going away with his profits caring nothing about their users). So they are both a bad option for long term (years) storage. Storing your money in pure gold is the best option to rely on.

I do not think normal people will be storing gold. Those are options of the rich and the wealthy people only. Both of them have their pros and cons. It actually depends on the user which benefits them the most.

Icathia

sr. member

Activity: 364

Merit: 250

Bitcoin wallet seems more logical to pick cause with that you have all the control yourself and zero to the bank. If you are using a bank then essentially they own your money and will even ask where it's coming from etc leaving no privacy at all.

tygeade

legendary

Activity: 2086

Merit: 1058

Quote from: blackmachinegun on September 20, 2016, 03:10:51 AM

Quote from: MWesterweele on September 19, 2016, 10:26:38 AM

Quote from: Betwrong on May 27, 2016, 03:36:13 AM

Most of us have both. Unfortunately we can't have only Bitcoin Wallet to serve all our needs nowadays. I know some people are having fun trying to live using a Bitcoin Wallet only and I also know that some of them succeed but if you have a family to care about that's impossible now.

Yes thats pretty true most of us are can't use bitcoin wallet because they don't know what is bitcoin wallet is or what is it in the short some of us as trying to live using bitcoin that they can easily get money there by gambling or anything else

I think bitcoin wallet would be more useful if you live in bitcoin as a whole. but you know that now there is support to do or live in bitcoin. yeah I think certainly more people will choose a bank. in fact I believe bitcoin users must also have a bank account

We need both of them, we cannot rely only on single one, at a moment fiat transactions are more in compare to bitcoin, and we also get salary in fiat which is directly transfer to our bank accounts.

blackmachinegun

hero member

Activity: 532

Merit: 500

Quote from: MWesterweele on September 19, 2016, 10:26:38 AM

Quote from: Betwrong on May 27, 2016, 03:36:13 AM

Most of us have both. Unfortunately we can't have only Bitcoin Wallet to serve all our needs nowadays. I know some people are having fun trying to live using a Bitcoin Wallet only and I also know that some of them succeed but if you have a family to care about that's impossible now.

Yes thats pretty true most of us are can't use bitcoin wallet because they don't know what is bitcoin wallet is or what is it in the short some of us as trying to live using bitcoin that they can easily get money there by gambling or anything else

I think bitcoin wallet would be more useful if you live in bitcoin as a whole. but you know that now there is support to do or live in bitcoin. yeah I think certainly more people will choose a bank. in fact I believe bitcoin users must also have a bank account

StoreBit

full member

Activity: 210

Merit: 100

Quote from: mirakal on September 20, 2016, 01:04:03 AM

Quote from: soros017 on September 19, 2016, 09:35:48 PM

In my opinion btc wallets are a safer option. In the Banks, fees are higher and there is the problem of centralization, but it's still the most practical way.

If you will compare the bitcoin wallet to banks the obvious answer is bank is more safer, nothing can be safer than bank because our money is subject for insurance and if robberies happens or bankruptcy, we can assurance our money will be back.

we are not going to compare the banks with bitcoin wallets i think we just want to know the importance of both the banks and bitcoin wallets, because bitcoin wallet is important for keeping bitcoin because we cannot store bitcoin in banks and banks are important because we cannot store fiat currency in bitcoin wallet. so to me both are important and have their own place.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: Zitudent on September 20, 2016, 01:59:20 AM

Quote from: mirakal on September 20, 2016, 01:04:03 AM

Quote from: soros017 on September 19, 2016, 09:35:48 PM

In my opinion btc wallets are a safer option. In the Banks, fees are higher and there is the problem of centralization, but it's still the most practical way.

If you will compare the bitcoin wallet to banks the obvious answer is bank is more safer, nothing can be safer than bank because our money is subject for insurance and if robberies happens or bankruptcy, we can assurance our money will be back.

It depends how much money you save in a bank. If that is too much, you will not be protected by bank insurance.

That's correct, and that's also the reason for people to use several banks instead of one to store their money on. But then again, the real rich guys can't avoid having multi millions on each and every bank account as they have too much money. These people definitely face the risk of losing a major part when a bank is on the brink of collapsing.

Zitudent

jr. member

Activity: 63

Merit: 1

Quote from: mirakal on September 20, 2016, 01:04:03 AM

Quote from: soros017 on September 19, 2016, 09:35:48 PM

In my opinion btc wallets are a safer option. In the Banks, fees are higher and there is the problem of centralization, but it's still the most practical way.

If you will compare the bitcoin wallet to banks the obvious answer is bank is more safer, nothing can be safer than bank because our money is subject for insurance and if robberies happens or bankruptcy, we can assurance our money will be back.

It depends how much money you save in a bank. If that is too much, you will not be protected by bank insurance.

Topic: Bank or Bitcoin Wallet? - page 27. (Read 230501 times)