All this nonsense can't happen with Bitcoin if:
1.All Bitcoiners use cold wallets and dump centralized exchanges and online wallets completely.
2.The merchants start accepting BTC/crypto for goods and services. Otherwise the people will always have to sell BTC/crypto for fiat in order to buy goods and services. If you want to use digital fiat money, you always have to signup to some online bank or payment service.
Until those two problems are solved, "all this nonsense" CAN happen with Bitcoin/altcoins as well. Centralized custodial crypto exchanges can block withdrawals any time they want. If there's no legit reason, they can simply lie and create fake excuses.
Topic: Fiat Banks Conspiracy Against Customers. Bitcoin is the Best Option - page 3. (Read 922 times)
September 08, 2022, 12:52:09 AM
September 08, 2022, 12:16:52 AM
The quick fix is bitcoin. The long term fix that also has to be done is be more careful what you vote for next time.
Have you forgotten Politicians? They can sweet talk and promise heaven on earth but we all know what comes after, it is there in every country.
I haven't. That's the vote I was talking about. Voting more carefully has the potential to get the country on the right track, just it can take many years and many disappointments.
September 08, 2022, 12:03:35 AM
It all really depends on where you live, you won't have any trouble getting your funds at an atm if atm facilities are easy to find anywhere like the place where I live I can even access a bank atm 24 hours a problem if the machine is broken.
Bitcoin is only a solution for those who already know it so not for most people.
There is always someone to make transaction on bitcoin. Bitcoin is the best option for transaction of goods and services
But unfortunately this is still very limited, not many you can find merchants where Bitcoin is a payment option, especially offline merchants there may be more online merchants but you may find other obstacles such as shipping costs and also limited items that can be purchased using Bitcoin, and also when the price of Bitcoin drops as it is today it will be another obstacle because many think that it is a loss to use their Bitcoin at a low price.Bitcoin is only a solution for those who already know it so not for most people.
September 07, 2022, 11:50:20 PM
There is always someone to make transaction on bitcoin. Bitcoin is the best option for transaction of goods and services
Depends on the goods and services imo. If you don't want to wait, then altcoins are way faster than btc. If the merchant accept lightning network, then bitcoin has no competition there but as far as I know, not many mercs are accepting ln. The other issue is volatility. If a btc tx takes 1 hour to complete and btc has a 5% drop during that time then the merchant will take a 5% loss. As long as their main income is FIAT based (credit cards & cash), that wouldn't be a problem but once majority of their customers start using crypto, that would be pretty challenging for the merchant. It is because the merchant needs pay his bills in USD, not in BTC.
September 07, 2022, 11:29:20 PM
Yes, there is a lot of nonsense about banks. Banks are a central means of implementing the instructions of the government that controls everything. Here in my country, for example, it is forbidden to withdraw more than $1,000 from the bank per day. If you need $3,000, for example, from your account, you need to Three days to withdraw it from the bank!! What is this nonsense??!! They actually control your money and control everything.
If we talk about the problems of banks, it is true that they have many shortcomings, sometimes making us crazy about them. We deposit our money in the bank and they charge us a lot of different fees but they give us the worst service.
To explain your case, because I had the same situation before. The fact that they limit withdrawals at ATMs can be understood like this: they are afraid that the withdrawal is not the real account holder, may be stolen, lost, or your account is exposed...therefore, to minimize risk they set a daily withdrawal limit. To be able to withdraw a larger amount, you can bring your identification to the counter to be processed, but what I am not satisfied is that the fee they charge us is higher than the fee when we withdraw at the ATM.
September 07, 2022, 09:45:48 PM
Yes, there is a lot of nonsense about banks. Banks are a central means of implementing the instructions of the government that controls everything. Here in my country, for example, it is forbidden to withdraw more than $1,000 from the bank per day. If you need $3,000, for example, from your account, you need to Three days to withdraw it from the bank!! What is this nonsense??!! They actually control your money and control everything.
September 07, 2022, 09:44:57 PM
The incident experienced by the OP is of course not the only incident. many similar things are experienced by the Bank's customers. they from time to time have not been able to improve their services for the comfort and safety of their customers.
And there are many things that make us uncomfortable in saving and keeping our money in the bank. like
- Administration fees will continue to cut your savings. and if your savings are not much. then in a few years when you check your savings in the bank. then your money will decrease.
- Savings in the Bank have no hope of growing. and vulnerable to the depreciation of the currency itself (such as due to inflation).
- Transactions through banks have limits. So we are limited to the number of transfers per day. even if we want to send large amounts of money overseas. so sometimes we can not send large quantities in one shipment. because there is indeed a limit on the amount for overseas shipments.
- We cannot fully trust the Bank's employees. Because there are many cases of misuse of customer money by the Bank without the customer's permission. such as many cases that occur in Indonesia as in the following news sources (https://m.bisnis.com/amp/read/20201109/90/1315253/selain-maybank-ini-kasus-pembobolan-dana-nasabah-bank-sepanjang-2020).
And many more cases of embezzlement of funds and other cases involving the security of the bank's customers' money itself. Even the interest offered by the Bank is very small and not comparable to the decline in the value of the currency as caused by inflation. but despite all that. Banks also have their own advantages. But it is not good if we put all our money in the bank. it is better for us to divide our savings into several types such as in Gold and property. and for large number of transactions we are more comfortable using Bitcoin.
because there are no restrictions on Bitcoin transactions and the shipping costs are much cheaper when compared to transactions through banks.
but we still need a bank as a means of disbursing funds into physical money. but I do not recommend if it is to save large amounts in the Bank.
And there are many things that make us uncomfortable in saving and keeping our money in the bank. like
- Administration fees will continue to cut your savings. and if your savings are not much. then in a few years when you check your savings in the bank. then your money will decrease.
- Savings in the Bank have no hope of growing. and vulnerable to the depreciation of the currency itself (such as due to inflation).
- Transactions through banks have limits. So we are limited to the number of transfers per day. even if we want to send large amounts of money overseas. so sometimes we can not send large quantities in one shipment. because there is indeed a limit on the amount for overseas shipments.
- We cannot fully trust the Bank's employees. Because there are many cases of misuse of customer money by the Bank without the customer's permission. such as many cases that occur in Indonesia as in the following news sources (https://m.bisnis.com/amp/read/20201109/90/1315253/selain-maybank-ini-kasus-pembobolan-dana-nasabah-bank-sepanjang-2020).
And many more cases of embezzlement of funds and other cases involving the security of the bank's customers' money itself. Even the interest offered by the Bank is very small and not comparable to the decline in the value of the currency as caused by inflation. but despite all that. Banks also have their own advantages. But it is not good if we put all our money in the bank. it is better for us to divide our savings into several types such as in Gold and property. and for large number of transactions we are more comfortable using Bitcoin.
because there are no restrictions on Bitcoin transactions and the shipping costs are much cheaper when compared to transactions through banks.
but we still need a bank as a means of disbursing funds into physical money. but I do not recommend if it is to save large amounts in the Bank.
September 07, 2022, 09:31:52 PM
‘You will own nothing & be happy’
Klaus Schwab
You are controlled & stolen from every year via inflation. Sure we need fiat for every day purchases in most countries but that will lessen & lessen. Bitcoin is here to stay, deflationary & decentralised. Take control of your own finance & self custody.
Klaus Schwab
You are controlled & stolen from every year via inflation. Sure we need fiat for every day purchases in most countries but that will lessen & lessen. Bitcoin is here to stay, deflationary & decentralised. Take control of your own finance & self custody.
"You will own nothing and still be happy" that quote is one of the nonsense I hear from rich people.
They want to take everything and turn you into a slave, is what it means to own nothing.
I don't understand how naive someone can be to fall for that.
It actually makes sense for Klaus especially since they aim to control the activity of people. Just imagine your phone to be a service where you just rent a phone that you have to pay monthly bills for it. Having a phone as a subscription type of service will be good for the economy since you will therefore continue to pay. You own no phone as it's not your phone you are just subscribing to the service. Of course, we don't like that.
Same with banks handing your money to them means you don't own the money and yet you also pay to keep your money. Congrats to Klaus Schwab for coming up with the dumbest idea of all.
September 07, 2022, 07:44:08 PM
A lot of banks don't understand that if they can't improve their customer experience, they will eventually run out of business sooner or later. But since they have got government backing to be a part of the economic inclusion, they don't bother about customer experience.
Yup what you can do when there is gov there
Personally I receive at least one email every month from my bank which talks about how bad bitcoin is. So banks are trying to spread miscommunication about bitcoin quite actively. But history doesn't play well with useless things. Time will make them extinct.
What
is this true my bank only send me email about financial statement per month. but crazy if they talk about how bad bitcoin is i mean they might scared because there is tech that can do more than bank 
September 07, 2022, 05:51:29 PM
This is out of context a little bit but it is still one of the reasons I hate banks today, I remember the day I went to a restaurant to have lunch after work, I checked the available ATM and it wasn't available, there were not too many points of sale around (the business part hasn't boomed like that in the past, unlike now that it is now in every street), I took the risk, order what I wanted to eat and when I was done and I try to do a transfer, that was when my problem began, there wasn't network, I had to call a friend to come to help out.
This is where Bitcoin comes as a means of payment, if there is anything like that as bitcoin been a legal tender, they will have no choice than to ignore banks services but you know, when the senate pass that kind of bill, it will affect their corrupt pockets.
Have you forgotten Politicians? They can sweet talk and promise heaven on earth but we all know what comes after, it is there in every country.
This is where Bitcoin comes as a means of payment, if there is anything like that as bitcoin been a legal tender, they will have no choice than to ignore banks services but you know, when the senate pass that kind of bill, it will affect their corrupt pockets.
The quick fix is bitcoin. The long term fix that also has to be done is be more careful what you vote for next time.
Have you forgotten Politicians? They can sweet talk and promise heaven on earth but we all know what comes after, it is there in every country.
September 07, 2022, 05:06:45 PM
Banks have such cases of failing to keep their promises; why will they write 24/7 service but be unable to render or deliver the service at all times; but the truth is that we cannot live without fiat, especially in underdeveloped countries where electricity supply is insufficient and many of its citizens lack blockchain knowledge; and perhaps some of these countries live Bitcoin unlegalized in the country, making Bitcoin transactions difficult for some of its citizens
There is always someone to make transaction on bitcoin. Bitcoin is the best option for transaction of goods and services
There is no doubt that Bitcoin transactions are the best; they are decentralized, fast, and reliable because the blockchain system is transparent enough to track all transactions. Bitcoin transactions are always live and extremely secure.
There is always someone to make transaction on bitcoin. Bitcoin is the best option for transaction of goods and services
September 07, 2022, 03:22:23 PM
This is common around the world. Maybe the grown countries have got out of such problems. This can be overcome by our P2P bitcoin transaction. For this we need to understand how far this is being spread around. For now the usage is good around Nigeria, and I have a question. Maybe the banks were with limited service, but through internet banking anything is possible. Here people are not good about internet banking and supporting bitcoin is something different.
September 07, 2022, 03:11:11 PM
I realized your pain. But we can't live without fiat, to be honest since Bitcoin hasn't been adapted worldwide till now. Even if you exchange peer to peer but still you need cash to spend it locally. Because everywhere Bitcoin isn't accepted in the world. For example, my government doesn't allow to use of Bitcoin, so we have to sell or trade it on the black market by force. Need more adaption to use Bitcoin directly without cashing out. Otherwise always we have to depend on centralized banks.
exactly, You really read and know my mind. The pain I feel and the annoyance I came home with was something else. Though it was not only elderly people were more annoyed than even me. But the funniest part is that, really as you said, we can not do without the fiat because bitcoin has not accepted worldwide. Anyhow we do and talk here, we still need fiat currency for survival. If I send BTC to someone for trade or exchange, I will need the fiat to buy what I want to eat and wear.
There is another problem I am also seen, the awareness campaign on bitcoin is not enough, most people are not aware of bitcoin mostly the traders of food stuff and market women. I vividly remember a chemist lady asked me what is bitcoin after she saw it on one of my advertisements on my office banner. There is a need for a massive campaign on bitcoin in all the Communities, Towns , villages and cities. When the number of people that aware are more than the unaware and the usages increase then even without government adoption within us, we can enjoy it. If market people (women and men) started using bitcoin then God has butter our bread.
September 07, 2022, 01:56:32 PM
One funny thing these banks do nowadays is to delay transaction or notice of a transaction for reasons best known to them. Often times i would have to call for confirmation of a transaction that normally need no follow up, all due to the fact that there is no network service at the moment. The 24/7 service bench mark as stated by them is just like you have put it, a political manifesto. All talk no bite.
The only thing that makes these fiat banks still relevant is the fact that Bitcoin is still in the process of gaining mass adoption, in that, the populace who transact business on a day to day basis may need to have proper orientation on its use. It is also not a legally recognized means of exchange in the country of which makes these banks, have an edge and as such can follow directive to limit use of the channels for dispensing cash at whatever time they deem fit.
Bitcoin exchange, is fast and can be done at any time of the day, as long as the network is available, not on basis of any directive given to by any governor or president in charge.
The only thing that makes these fiat banks still relevant is the fact that Bitcoin is still in the process of gaining mass adoption, in that, the populace who transact business on a day to day basis may need to have proper orientation on its use. It is also not a legally recognized means of exchange in the country of which makes these banks, have an edge and as such can follow directive to limit use of the channels for dispensing cash at whatever time they deem fit.
Bitcoin exchange, is fast and can be done at any time of the day, as long as the network is available, not on basis of any directive given to by any governor or president in charge.
September 07, 2022, 01:27:58 PM
I realized your pain. But we can't live without fiat, to be honest since Bitcoin hasn't been adapted worldwide till now. Even if you exchange peer to peer but still you need cash to spend it locally. Because everywhere Bitcoin isn't accepted in the world. For example, my government doesn't allow to use of Bitcoin, so we have to sell or trade it on the black market by force. Need more adaption to use Bitcoin directly without cashing out. Otherwise always we have to depend on centralized banks.
September 07, 2022, 01:12:20 PM
A lot of banks don't understand that if they can't improve their customer experience, they will eventually run out of business sooner or later. But since they have got government backing to be a part of the economic inclusion, they don't bother about customer experience.
Personally I receive at least one email every month from my bank which talks about how bad bitcoin is. So banks are trying to spread miscommunication about bitcoin quite actively. But history doesn't play well with useless things. Time will make them extinct.
Personally I receive at least one email every month from my bank which talks about how bad bitcoin is. So banks are trying to spread miscommunication about bitcoin quite actively. But history doesn't play well with useless things. Time will make them extinct.
September 07, 2022, 12:30:44 PM
All these nonsense can never happened in bitcoin space. Really I don't think such thing will happen in crypto ecosystem. Since bitcoin uses p2p, I can use my fund at anytime. The only thing that can hinder my transaction is network.
The banks can be really frustrating at times and I can imagine how frustrated you must have felt. Personally as much as possible, I try to avoid anything that will take me to the bank because there is always a queue and you get exhausted easily with their very snail speed service in attending to all the customers.Banks can generally be under instruction from one body because of their centralized nature to not operate and that will have a general effect on all customers, but with bitcoin via your wallets creators, there is no centralized body controlling them, so there is no possibility that one day they all will generally just decide to not operate and frustrate customers like the banks have done to you.
September 07, 2022, 11:31:56 AM
~snip~
All these nonsense can never happened in bitcoin space. Really I don't think such thing will happen in crypto ecosystem. Since bitcoin uses p2p, I can use my fund at anytime. The only thing that can hinder my transaction is network.
All these nonsense can never happened in bitcoin space. Really I don't think such thing will happen in crypto ecosystem. Since bitcoin uses p2p, I can use my fund at anytime. The only thing that can hinder my transaction is network.
Everyone who uses CEX (centralized crypto exchange) can find themselves in the same problem as any client who has money in the bank. Any centralized option that provides the option to store/transfer Bitcoin is therefore no better than any bank. Unfortunately, this is something that many do not understand and live in the false belief that they are safe, and at any moment their funds can be hacked, the account blocked or the entire service can be unavailable.
Hihihi, and that's what OP's doing.
Quit ironic, his previous message just before this one looks like this:
My suggestion is that, if your country has banned bitcoin and you are interested to use bitcoin, it is very simple. Just go to Binance, Remitano or any other web or app that vendors are buying and selling BTC.
So forget P2P, his first advice was to trust another bank, just that it's a crypto bank and not a fiat bank!
I love when all those people just criticize banks and tell stories about how you can't withdraw your money from them only to stuff their precious coins on some same-level centralized entity.
September 07, 2022, 10:22:01 AM
~snip~
All these nonsense can never happened in bitcoin space. Really I don't think such thing will happen in crypto ecosystem. Since bitcoin uses p2p, I can use my fund at anytime. The only thing that can hinder my transaction is network.
All these nonsense can never happened in bitcoin space. Really I don't think such thing will happen in crypto ecosystem. Since bitcoin uses p2p, I can use my fund at anytime. The only thing that can hinder my transaction is network.
Everyone who uses CEX (centralized crypto exchange) can find themselves in the same problem as any client who has money in the bank. Any centralized option that provides the option to store/transfer Bitcoin is therefore no better than any bank. Unfortunately, this is something that many do not understand and live in the false belief that they are safe, and at any moment their funds can be hacked, the account blocked or the entire service can be unavailable.
What you wrote about Bitcoin is only valid if you use a non-custodial wallet, and if you know how to determine the fee at the time of sending the transaction to avoid paying more than necessary, or so that the transaction does not get stuck because you set a much lower fee and on that way you have a very low priority among miners.
September 07, 2022, 09:30:16 AM
‘You will own nothing & be happy’
Klaus Schwab
You are controlled & stolen from every year via inflation. Sure we need fiat for every day purchases in most countries but that will lessen & lessen. Bitcoin is here to stay, deflationary & decentralised. Take control of your own finance & self custody.
Klaus Schwab
You are controlled & stolen from every year via inflation. Sure we need fiat for every day purchases in most countries but that will lessen & lessen. Bitcoin is here to stay, deflationary & decentralised. Take control of your own finance & self custody.
"You will own nothing and still be happy" that quote is one of the nonsense I hear from rich people.
They want to take everything and turn you into a slave, is what it means to own nothing.
I don't understand how naive someone can be to fall for that.
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