Bank or Bitcoin Wallet? - page 35. | Bitcointalksearch.org

chaser15

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Quote from: CrimBit on September 13, 2016, 09:58:32 PM

in fact some bank do research about blockchain technology, in future i think bank will use blockchain system for his own transaction, but of course bank will be hold the private key.

Well they have the reason for it to hold the private keys since they are institution. It's not different with the current system just in another form because of blockchain technology.

It's a good service if bitcoin will use blockchain system. No doubt banks are helpful in many ways. There are just banks who giving dirt to this reputable institution and don't follow banking terms.

dmarine

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I prefer to use both, since I can get more benefits this way. I think that would be impossible using only btc wallets these days, but I believe that the wallets for bitcoin and other cryptocurrencies will receive improvements and will be more used some day.

raven7886

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Quote from: Sweetbtc on September 13, 2016, 12:41:31 PM

Quote from: drwtsn32 on September 13, 2016, 05:19:59 AM

Quote from: pandalion98 on September 12, 2016, 04:23:54 AM

Bottom line is that we need both for now since
1. Most people aren't into bitcoin yet. Most usually transact with a bank since it's familiar for them
2. Banks have features and guarantees that are not present in Bitcoin (e.g. tx reversal in case of error, insurance, etc.)

The familiarity with bitcoin I think will be the biggest challenge here.
Anyone including old and young people can make bank transactions today. But if we talk about bitcoin, I don't think they will get it easily.

Bitcoin Wallet is much better . The only problem - in my opinion - is transform BTC in money when I need.
We can use XAPO, Advcash and othes, but we need more options for sure.

there is unlimited options to transform bitcoin into money. even I think one or 2 or at least few but legit options are enough. we do not need a lot of but most of scammy options..
in my country I can convert my bitcoin easily to fiat by Localbitcoin. and I'll never change this option unless any necessary need.

passwordnow

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I am going to choose bitcoin wallets as they are not charging too much for every transactions that you are going to do with your bitcoins. Unlike with banks, even you are not doing anything with your money they are going to charge you some bills that you don't even how and used. They are even charging hidden fees so that is making me annoyed.

CrimBit

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Quote from: Babayega31 on September 13, 2016, 04:01:18 PM

Quote from: addy boy on October 04, 2015, 12:05:29 PM

what you will chose amomg them.and why do the banks are afraid of bitcoin.why banks are not much smooth and faster like bitcoin.if banks start accepting bitcoin as payments then will it became a revolutionary for us?can bank can solve our mining or money curculation probems.

Maybe the two of them to choose because the bank was to be secured to the money and the small profit it had secured a safe money. The bitcoin wallet is very helpful especially when I want to invest in online site available immediately and can also earn bitcoin by accumulating bitcoin and wait for rise in prices for the currency to make a profit . Bitcoin just not safe especially when you forget the password and do not open it . So not secured the money to bitcoin.

in fact some bank do research about blockchain technology, in future i think bank will use blockchain system for his own transaction, but of course bank will be hold the private key.

BitcoinPC

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Quote from: Sweetbtc on September 13, 2016, 12:41:31 PM

Quote from: drwtsn32 on September 13, 2016, 05:19:59 AM

Quote from: pandalion98 on September 12, 2016, 04:23:54 AM

Bottom line is that we need both for now since
1. Most people aren't into bitcoin yet. Most usually transact with a bank since it's familiar for them
2. Banks have features and guarantees that are not present in Bitcoin (e.g. tx reversal in case of error, insurance, etc.)

The familiarity with bitcoin I think will be the biggest challenge here.
Anyone including old and young people can make bank transactions today. But if we talk about bitcoin, I don't think they will get it easily.

Bitcoin Wallet is much better . The only problem - in my opinion - is transform BTC in money when I need.
We can use XAPO, Advcash and othes, but we need more options for sure.

And that is the main reason I will have to choose Bank over Wallet because of ease of liquidity as Bitcoin is yet to be generally accepted so I have to first convert to local fiat before being able to spend which to me is a waste of precious time in which the risk of being duped is even high in which I have equally witnessed on my own...

Doamader

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Quote from: olubams on September 13, 2016, 12:48:47 PM

The only reason reason I would prefer wallet to bank is only the issue of anonymity because in bank you just have to submit all your details couple with even your biometric details in other to use the service which is not applicable to wallet and this alone is enough for me. Aside that Im in for banking...

Well besides those requirements at banks, they work funny, you can deposit any ammount at banks and the money will show into your account, but try to withdraw some big value, for any reason, they will ask you 2-3 days, and ask you why you taking those money for, this is because the money its yours and not belongs to banks. I do like bitcoin besides be all days open transactions, low fees i can do what i wanna with my coins anytime.

BitcoinMarshal

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Quote from: ajun96 on September 13, 2016, 06:09:53 PM

Quote from: olubams on September 13, 2016, 12:48:47 PM

The only reason reason I would prefer wallet to bank is only the issue of anonymity because in bank you just have to submit all your details couple with even your biometric details in other to use the service which is not applicable to wallet and this alone is enough for me. Aside that Im in for banking...

yeah even before you set up a bank account you will be asked the data about you and they ask for your ID card and borrow to fill the data themselves. they have all your data and you have been exposed.
different when you're using bitcoin, very anonymous even you can use without email Lol

But some time if you need money in emergency wallet cannot provide you this service in many countries because they have no ATM but most Banks in many countries providing this service which is very helpful for many peoples

ajun96

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Quote from: olubams on September 13, 2016, 12:48:47 PM

The only reason reason I would prefer wallet to bank is only the issue of anonymity because in bank you just have to submit all your details couple with even your biometric details in other to use the service which is not applicable to wallet and this alone is enough for me. Aside that Im in for banking...

yeah even before you set up a bank account you will be asked the data about you and they ask for your ID card and borrow to fill the data themselves. they have all your data and you have been exposed.
different when you're using bitcoin, very anonymous even you can use without email Lol

Universat

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Quote from: drwtsn32 on September 13, 2016, 05:19:59 AM

Quote from: pandalion98 on September 12, 2016, 04:23:54 AM

Bottom line is that we need both for now since
1. Most people aren't into bitcoin yet. Most usually transact with a bank since it's familiar for them
2. Banks have features and guarantees that are not present in Bitcoin (e.g. tx reversal in case of error, insurance, etc.)

The familiarity with bitcoin I think will be the biggest challenge here.
Anyone including old and young people can make bank transactions today. But if we talk about bitcoin, I don't think they will get it easily.

yes bitcoin transaction is still a big challenge, as most of the people still have no idea about bitcoin and banks is too much convinient to them therefore it think in present we cannot ignore the importance of banks as well as bitcoin wallet specially for those people who are using it.

Babayega31

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Quote from: addy boy on October 04, 2015, 12:05:29 PM

what you will chose amomg them.and why do the banks are afraid of bitcoin.why banks are not much smooth and faster like bitcoin.if banks start accepting bitcoin as payments then will it became a revolutionary for us?can bank can solve our mining or money curculation probems.

Maybe the two of them to choose because the bank was to be secured to the money and the small profit it had secured a safe money. The bitcoin wallet is very helpful especially when I want to invest in online site available immediately and can also earn bitcoin by accumulating bitcoin and wait for rise in prices for the currency to make a profit . Bitcoin just not safe especially when you forget the password and do not open it . So not secured the money to bitcoin.

crairezx20

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Quote from: drwtsn32 on September 13, 2016, 05:19:59 AM

Quote from: pandalion98 on September 12, 2016, 04:23:54 AM

Bottom line is that we need both for now since
1. Most people aren't into bitcoin yet. Most usually transact with a bank since it's familiar for them
2. Banks have features and guarantees that are not present in Bitcoin (e.g. tx reversal in case of error, insurance, etc.)

The familiarity with bitcoin I think will be the biggest challenge here.
Anyone including old and young people can make bank transactions today. But if we talk about bitcoin, I don't think they will get it easily.

Honestly its more easy to use bitcoin unlike banks that they need all your Identity before you can use their services..
Bitcoin is easy to install easy to use they need your real information but in the first time if you deposit you need your id to deposit but after that you can use your bitcoin anonymously transfer to other wallet and use bitcoin mixer to be anonymous.

olubams

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The only reason reason I would prefer wallet to bank is only the issue of anonymity because in bank you just have to submit all your details couple with even your biometric details in other to use the service which is not applicable to wallet and this alone is enough for me. Aside that Im in for banking...

Sweetbtc

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Quote from: drwtsn32 on September 13, 2016, 05:19:59 AM

Quote from: pandalion98 on September 12, 2016, 04:23:54 AM

Bottom line is that we need both for now since
1. Most people aren't into bitcoin yet. Most usually transact with a bank since it's familiar for them
2. Banks have features and guarantees that are not present in Bitcoin (e.g. tx reversal in case of error, insurance, etc.)

The familiarity with bitcoin I think will be the biggest challenge here.
Anyone including old and young people can make bank transactions today. But if we talk about bitcoin, I don't think they will get it easily.

Bitcoin Wallet is much better . The only problem - in my opinion - is transform BTC in money when I need.
We can use XAPO, Advcash and othes, but we need more options for sure.

Senor.Bla

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Quote from: madwica on September 13, 2016, 04:59:25 AM

Quote from: Senor.Bla on September 13, 2016, 02:47:24 AM

Quote from: freedomgo on September 13, 2016, 02:29:27 AM

Quote from: groll on September 12, 2016, 10:56:07 PM

Quote from: Doms on September 12, 2016, 09:41:41 PM

I think it is not a debate whether bitcoin or bank is better. I think it should be about how we can maximize what both can offer and use them to our advantage. It is fairly early to compare both since bitcoin has only been around for a few years while banks and other financial institutions have been around since time immemorial.

Wow so clever! Yes you are right we should not be comparing on which is better between bitcoin wallet or bank. They are different in some ways like bitcoin grows its value even when it only sits on the wallet while your money will not grow unless you put it inside a bank with interest. At the long run, your money on the bank will have its interest but due to taxes and inflation rate, your saved money will still like the same. On bitcoin wallet, it could be higher or lower when you keep your bitcoin there.

Therefore banks is only good for securing your money and bitcoin is strictly for investment, you cannot mix the two because they have their own strength, for now bitcoin is very risky but it promises us a good amount of money in the future if our investment will succeed.

and here i would strongly disagree. bank for securing money to be more specific. here i why i disagree.
you have no control over your money in the bank. they can just decide to keep the money. they can give you some bullshit reason or say it was a mistake or the government forced them. it does not matter. in bitcoin it is your money when you have the keys. nobody can take it. so i think bitcoin is safer. sure, i have to know how to protect my money and maybe bitcoin will become worthless tomorrow, but i take those risks happily.

and also here i am not agree with you because bank is not only for securing our money it also can bring us profit if you have multiple investment, and do not say that no one can take your bitcoin away from you, you are not the admin of your bitcoin wallet that is why it is possible to take away from you there is no insurance of money in bitcoin. but i love bitcoin that is only base on your statement that you have the bank.

sorry, but i just totally do not understand what you are trying to say? admin of bitcoin wallet? i do not get it, but if i make a private key and put it in cold storage, you will have a very hard time to take this away from me.

utkarshm

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Quote from: drwtsn32 on September 13, 2016, 05:19:59 AM

Quote from: pandalion98 on September 12, 2016, 04:23:54 AM

Bottom line is that we need both for now since
1. Most people aren't into bitcoin yet. Most usually transact with a bank since it's familiar for them
2. Banks have features and guarantees that are not present in Bitcoin (e.g. tx reversal in case of error, insurance, etc.)

The familiarity with bitcoin I think will be the biggest challenge here.
Anyone including old and young people can make bank transactions today. But if we talk about bitcoin, I don't think they will get it easily.

Yes correct even i am very familiar with bitcoin or bitcoin wallets,exchanges etc but still i would choose banks over bitcoin wallet because we can see bank operating in real world and we can go there and talk with them if any problem,but i wallet we can contact only through mail and if they dont reply there is nothing we can do about it.

drwtsn32

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Quote from: pandalion98 on September 12, 2016, 04:23:54 AM

Bottom line is that we need both for now since
1. Most people aren't into bitcoin yet. Most usually transact with a bank since it's familiar for them
2. Banks have features and guarantees that are not present in Bitcoin (e.g. tx reversal in case of error, insurance, etc.)

The familiarity with bitcoin I think will be the biggest challenge here.
Anyone including old and young people can make bank transactions today. But if we talk about bitcoin, I don't think they will get it easily.

madwica

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Quote from: Senor.Bla on September 13, 2016, 02:47:24 AM

Quote from: freedomgo on September 13, 2016, 02:29:27 AM

Quote from: groll on September 12, 2016, 10:56:07 PM

Quote from: Doms on September 12, 2016, 09:41:41 PM

I think it is not a debate whether bitcoin or bank is better. I think it should be about how we can maximize what both can offer and use them to our advantage. It is fairly early to compare both since bitcoin has only been around for a few years while banks and other financial institutions have been around since time immemorial.

Wow so clever! Yes you are right we should not be comparing on which is better between bitcoin wallet or bank. They are different in some ways like bitcoin grows its value even when it only sits on the wallet while your money will not grow unless you put it inside a bank with interest. At the long run, your money on the bank will have its interest but due to taxes and inflation rate, your saved money will still like the same. On bitcoin wallet, it could be higher or lower when you keep your bitcoin there.

Therefore banks is only good for securing your money and bitcoin is strictly for investment, you cannot mix the two because they have their own strength, for now bitcoin is very risky but it promises us a good amount of money in the future if our investment will succeed.

and here i would strongly disagree. bank for securing money to be more specific. here i why i disagree.
you have no control over your money in the bank. they can just decide to keep the money. they can give you some bullshit reason or say it was a mistake or the government forced them. it does not matter. in bitcoin it is your money when you have the keys. nobody can take it. so i think bitcoin is safer. sure, i have to know how to protect my money and maybe bitcoin will become worthless tomorrow, but i take those risks happily.

and also here i am not agree with you because bank is not only for securing our money it also can bring us profit if you have multiple investment, and do not say that no one can take your bitcoin away from you, you are not the admin of your bitcoin wallet that is why it is possible to take away from you there is no insurance of money in bitcoin. but i love bitcoin that is only base on your statement that you have the bank.

Senor.Bla

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Activity: 280

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Quote from: freedomgo on September 13, 2016, 02:29:27 AM

Quote from: groll on September 12, 2016, 10:56:07 PM

Quote from: Doms on September 12, 2016, 09:41:41 PM

I think it is not a debate whether bitcoin or bank is better. I think it should be about how we can maximize what both can offer and use them to our advantage. It is fairly early to compare both since bitcoin has only been around for a few years while banks and other financial institutions have been around since time immemorial.

Wow so clever! Yes you are right we should not be comparing on which is better between bitcoin wallet or bank. They are different in some ways like bitcoin grows its value even when it only sits on the wallet while your money will not grow unless you put it inside a bank with interest. At the long run, your money on the bank will have its interest but due to taxes and inflation rate, your saved money will still like the same. On bitcoin wallet, it could be higher or lower when you keep your bitcoin there.

Therefore banks is only good for securing your money and bitcoin is strictly for investment, you cannot mix the two because they have their own strength, for now bitcoin is very risky but it promises us a good amount of money in the future if our investment will succeed.

and here i would strongly disagree. bank for securing money to be more specific. here i why i disagree.
you have no control over your money in the bank. they can just decide to keep the money. they can give you some bullshit reason or say it was a mistake or the government forced them. it does not matter. in bitcoin it is your money when you have the keys. nobody can take it. so i think bitcoin is safer. sure, i have to know how to protect my money and maybe bitcoin will become worthless tomorrow, but i take those risks happily.

1Referee

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Quote from: freedomgo on September 13, 2016, 02:29:27 AM

Quote from: groll on September 12, 2016, 10:56:07 PM

Quote from: Doms on September 12, 2016, 09:41:41 PM

I think it is not a debate whether bitcoin or bank is better. I think it should be about how we can maximize what both can offer and use them to our advantage. It is fairly early to compare both since bitcoin has only been around for a few years while banks and other financial institutions have been around since time immemorial.

Wow so clever! Yes you are right we should not be comparing on which is better between bitcoin wallet or bank. They are different in some ways like bitcoin grows its value even when it only sits on the wallet while your money will not grow unless you put it inside a bank with interest. At the long run, your money on the bank will have its interest but due to taxes and inflation rate, your saved money will still like the same. On bitcoin wallet, it could be higher or lower when you keep your bitcoin there.

Therefore banks is only good for securing your money and bitcoin is strictly for investment, you cannot mix the two because they have their own strength, for now bitcoin is very risky but it promises us a good amount of money in the future if our investment will succeed.

Money on a bank isn't secure when some one else is taking care ahum, "gambling" with it on the financial markets. The only bit of "security" you may get is that your money is secured till a certain amount in case something happens with that specific bank.

Topic: Bank or Bitcoin Wallet? - page 35. (Read 230501 times)