btc and traditional banks | Bitcointalksearch.org

whizter

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Quote from: sempak on October 28, 2016, 05:01:46 AM

Quote from: sambaevida on October 28, 2016, 03:53:33 AM

After your experience with the btc world, do you still trust traditional banks like you used to before?
Have you changed something about your savings?
Speak your minds!

of course I still believe and use the bank to date. but I save some funds have now been switched to bitcoin wallet. I want speed in the deal. I was the mobile, so I want to perform a variety of transactions wherever I am.

in present time as still bitcoin cannot be use as fiat therefore people are still using fiat and there fore they use banks for fiat, but hope that in future bitcoin will become more popular and then people will start using it for buying and selling and thus the use of banks will decrease.

Kprawn

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A month ago, I got a phone call from the bank telling me that I forgot to pay my credit card. It was a very busy time, and I usually just do a

transfer from my debit account to the credit card account. The caller was very rude, even though I told her that it was only a over sight and

that I would pay it when I got home that evening. I went back to work and 1 hour later I get a Sms telling me that my debit card was used to

pay my credit card. I did not give them permission to access my account, they just did it. So you tell me.... Do you trust these people, when

they can basically do what they want, when they want to.. with your money?

deisik

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Quote from: Digitalbitcoin on October 29, 2016, 07:22:05 AM

Quote from: Digitalbitcoin on October 29, 2016, 07:15:53 AM

Quote from: sambaevida on October 28, 2016, 03:53:33 AM

After your experience with the btc world, do you still trust traditional banks like you used to before?
Have you changed something about your savings?
Speak your minds!

Well as already asked in topic about trust in tradition bank and BTC. But I think this question has no sense.
Without traditional bank there will be never Bitcoin. We everyone must have mind it. BTC is purely based on network because of P2P currency.

No one still have touch or even see what is bitcoin ? But bitcoin have that much potential as it can be directly exchanged in fiat currency.

I would like to add some more informative data about BTC and Bank -
As BTC can be exchanged directly with fiat currency. It has become more valuable. And day by day value of its increasing.

But guys if there were no fiat currency then there will be no bitcoins

Do you understand that you are essentially claiming that if there were no scales there would be no weight? Bitcoin was conceived as money, and it is used as money (though not so much as a vehicle for speculation). Both you and me are paid in bitcoins for wearing signatures and posting here (strictly speaking, I don't know if Yobit pays in bitcoins, but you see what I mean), and it is as proximate an example of Bitcoin being used as money as it ever gets. Money doesn't need other money to function. In fact, money works best when it has no competition...

As long as it remains money, of course

thejaytiesto

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I trust banks in a reasonable way, I understand the risks, that is the difference from most people, which just don't understand the inherent risks of having a bank account, but other than that, I trust Bitcoin and can't wait until society is ready for it, which will still take some years, but we are on the right path.

Digitalbitcoin

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Quote from: Digitalbitcoin on October 29, 2016, 07:15:53 AM

Quote from: sambaevida on October 28, 2016, 03:53:33 AM

After your experience with the btc world, do you still trust traditional banks like you used to before?
Have you changed something about your savings?
Speak your minds!

Well as already asked in topic about trust in tradition bank and BTC. But I think this question has no sense.
Without traditional bank there will be never Bitcoin. We everyone must have mind it. BTC is purely based on network because of P2P currency.

No one still have touch or even see what is bitcoin ? But bitcoin have that much potential as it can be directly exchanged in fiat currency.

I would like to add some more informative data about BTC and Bank -
As BTC can be exchanged directly with fiat currency. It has become more valuable. And day by day value of its increasing.

But guys if there were no fiat currency then there will be no bitcoins.

Also everyone who wish to get or receive payments they must have to exchange then trade and then take to own country in fiat currency.

So without fiat currency there will be no bitcoins. Also we must not have to compare BTC with Fiat or dont have to make statements such as will bitcoin replace USD or any fiat currency? etc. etc. because there is no meaning of discussion of it.

Bitcoin have it own protocol named "qt" which can accessed via internet.

Digitalbitcoin

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Quote from: sambaevida on October 28, 2016, 03:53:33 AM

After your experience with the btc world, do you still trust traditional banks like you used to before?
Have you changed something about your savings?
Speak your minds!

Well as already asked in topic about trust in tradition bank and BTC. But I think this question has no sense.
Without traditional bank there will be never Bitcoin. We everyone must have mind it. BTC is purely based on network because of P2P currency.

No one still have touch or even see what is bitcoin ? But bitcoin have that much potential as it can be directly exchanged in fiat currency.

mindrust

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No I don't and by the time being, i am withdrawing all of my cash slowly out of them. There is some big shit waiting for us and that big shit includes a massive bankruption of the major banks worldwide. I can secure my money my own. Banks? No thanks, till the world gets its shit together which can take 1 or 2 years.

rinhunter

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Yes, I trust it and I still use bank for receiving my monthly salary from my job in real life, But one thing i hate in banks they are take too much fees. Angry

For online transaction and investment i still use Bitcoin because transaction is fast and cheap, It might be more trusted if bank reduces fee.

Victorycoin

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If you have ever taken time to go through your bank statement, you won't miss to see the huge disparity between the paltry sum banks pays as interest as against the Shylock rate they demand for every loan they grant. Though banks are here to stay, but the emergence of bitcoin and the blockchain technology is a game changer and banks are most likely not going to remain same. These days, I no longer have a need for debit/credit cards to be able to make international transactions and that is a hint of what lies ahead.

Ryananda

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I still believe in the traditional banks because in saving money, traditional banks are still very safe because there is also a guarantee of money so it is very safe. I also believe bitcoin due to investment, bitcoin is suitable to take advantage of fluctuations which are likely to increase. I believe both of them because everything is helpful for me.

Milkduds

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I actually went looking for something like bitcoin due to how my bank was treating me. Needed a way to get funds online and the choices where slim at the time,without the bank seeing what is going on and risking a closed account. Times have changed but the other aspect is government ultimately can come in and dictate the banks to lock it up.

Bitcoin has made a few places lighten up but also caused others to tighten up,so I rather not jump through any hoops temporarily to find out that it will be used against me later on.

carlerha

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Quote from: ashiqdey on October 28, 2016, 12:36:19 PM

Yes I do trust both bitcoin and traditional bank because bitcoin is decentralized and no one could take away my money and i feel safe with bitcoin because of it awesome concept of public and private key which make the system much secure than traditional banks.

I trust banks because I have account in bank which is nationalised and week will scam me neither block my account because they have market and if they go this then public will hate them government will impose penalty on them.

i think presently every one will be believing on banks as the users of bitcoin are not too much and still it need more and more time so that its users may increase and then people use bitcoin instead of fiat and then the use of banks will automatically decrease.

ashiqdey

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Yes I do trust both bitcoin and traditional bank because bitcoin is decentralized and no one could take away my money and i feel safe with bitcoin because of it awesome concept of public and private key which make the system much secure than traditional banks.

I trust banks because I have account in bank which is nationalised and week will scam me neither block my account because they have market and if they go this then public will hate them government will impose penalty on them.

avatar_kiyoshi

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Quote from: sambaevida on October 28, 2016, 03:53:33 AM

After your experience with the btc world, do you still trust traditional banks like you used to before?
Have you changed something about your savings?
Speak your minds!

Maybe if after in my country let bitcoin used(without worries you throw to jail), especially if a lot company pay for worker fees with bitcoin, I will stop using bank. Although now my >50% savings is storing bitcoin at safe wallet.

Honestly I think it's will be hard to replace bank. Considering about the security, regulations and other aspects.

Quote from: requester on October 28, 2016, 11:23:27 AM

Yes I do believe in bitcoin and traditional bank because bitcoin is decentralized and automated and no third party have hands on bitcoin network and i have trust in traditional bank because i deal only with nationalised back which will not scam be because they have fame and name over the country.

This for example, people still can't protect them self from cyber crime or scammer who offer greed commission.

jak3

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honestly yes it does changed hell of a lot i nearly changed my point of view when i learned about bitcoin its like i can understand the money system more freely and more better and with banks its always like i have to answer every question to everyone which is completly irritating

Patatas

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Quote from: sambaevida on October 28, 2016, 03:53:33 AM

After your experience with the btc world, do you still trust traditional banks like you used to before?
Have you changed something about your savings?
Speak your minds!

Never liked the banks.Bitcoins just gave an alternative to fight against them.Now we have something to back us up and banks are intimidiated by it.Never belived in savings either.If you mean keeping a few bitcoins reserved for urgnet needs,yes I do!

amacar2

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I still use local banks so don't know what i should tell trust them or not. But talking about security and transparency i strongly believe in bitcoin rather than banks, as well as the profit on storing bitcoin for long term is really high which you can't get from saving accounts in banks.

I will say i still use banks, so can't vote whether i trust banks or not.

buxlover

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Yep i trust traditional banks, But i don't like them. Anyway in my country i cant purchase many thing without fiat currency, so i had to use banks for day to day life.

As far as investment i don't trust bank since it has a very low rate of interest and trading or just storing bitcoin would give us more profit. I don't think traditional bank & bitcoins be separated from many bitcoiners, since most convert bitcoin to fiat directly to their bank and vice versa.

mobnepal

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Actually i have found storing or saving my money in bitcoin is more profitable than saving them in banks. The annual interest rate here in banks is only around 5% so why to wait a year to earn 5% over our holdings instead of earning 5% easily profit on every price swing in bitcoin within a week or day.

requester

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Yes I do believe in bitcoin and traditional bank because bitcoin is decentralized and automated and no third party have hands on bitcoin network and i have trust in traditional bank because i deal only with nationalised back which will not scam be because they have fame and name over the country.

Topic: btc and traditional banks (Read 1148 times)