IF ONLY EVERYONE CAN EASILY ACCEPT CRYPTO - page 2.

CryptSafe

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Quote from: Plaguedeath on April 12, 2023, 05:14:31 AM

Don't mix Bitcoin with crypto aka shitcoins.
This is why Bitcoin is better than banking system, it's faster and transparent, there's no hide or secret fee if you want to send a coins. Government will not want to accept Bitcoin as a currency because people might tend to choose Bitcoin over their fiat and banks, if not many people use fiat and banks, the government will not make a lot money and many banks will collapse.

Mate, OP was not wrong in calling them Crypto currency. Bitcoin is still under the Crypto currency classification and it is a blockchain on its own while shitcoins just as you have said are the altcoin or tokens that liverages on other blockchain to sustain their scalability.

No doubt bitcoin is the most popular Crypto currency in the world and has gained traction for itself since it's inception. However, bitcoin and Fiat are unique in their own ways so therefore, non of them can be sidelined to function in the capacity of the others with the rate of the current situation of their existence.

Fiat globally is the government number one recognized legal tender approved by them but bitcoin is a digital asset yet to be recognized and approved by most of the government globally for the fear of their local fiat being neglected. The fears of the government are too many to accept bitcoin in place of their currency digitally.

Smartvirus

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Quote from: Plaguedeath on April 12, 2023, 05:14:31 AM

Don't mix Bitcoin with crypto aka shitcoins.

Bitcoin is still practically a crypto, that mix that up. Crypto is a broad name while, bitcoin is just a variety. The main difference come in the sense that, any other coin other than bitcoin is an altcoin and this is due to the fact that, bitcoin remains the pioneer, truly decentralized and priced currency amongst all other coins out there.

Quote from: Blurr007 on April 12, 2023, 05:06:21 AM

I made a transaction through my bank, Fortunately the money was'nt received by the suppose receiver and i was debited.
I went to the bank for transfer error issue, spending more than 5hours trying to get access into the bank(due to crowd) and 3hrs trying to fix the transfer error.

Unfortunately you mean buy yeah, these things happens and the smart thing to do is making complaints using your banks Mobile app. Cryptocurrency has made banks to be playing catch-up on means to ensure proper online banking, ease of making complaints and resolving issues. You don't need to go to the bank, there is a customer care personnel on there to engage you on chats and resolve your issues. Engage them some times and there won't be much need in going through those bank walls.

Quote

My point here is that, if i had sent the money in form of crypto(Bitcoin), my transaction would have run smoothly, the only way i would have had an issue was if i had transfer to the wrong address.

Bitcoin transactions don't always goes smoothly. There are issues of mempool congestion which you can over come by increasing the fees perhaps. In cases where low fees are been used, you could as well end up waiting for a day. This doesn't mean bitcoin isn't a better payment option than conventional banks, just telling you what could go wrong.

LastKiss

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Quote from: Blurr007 on April 12, 2023, 05:06:21 AM

~snip~
What's your opinion ? .

Not everyone going to use crypto especially bankers, they really hate crypto cause many cryptos already made their business slow growth compared to when crypto doesn't exist. We can't force this and make everyone in the world understand crypto well, we need this to grow slowly and smoothly. If our friends want to learn cryptocurrencies we should teach them the basics not how much profit we can get in the crypto space.

death69

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Oh, your anguish resonates with me. Spending hours at the bank resolving transfer hiccups is like a never-ending DMV nightmare. But you know what tops that? Crypto illiteracy. For heaven's sake, it's 2023! Time to welcome the age of cryptocurrency. If I scored a Bitcoin for every bank issue rant I've heard, I'd be one filthy rich dude. The beauty of crypto is that those pesky problems don't apply. Sure, there's a risk of transferring to a wrong address. But that's where our trusty blockchain steps in, right? It's the digital safety net we all need. If you've had enough of traditional banking woes, give crypto a shot. Who knows - it might just be your cup of tea.

karmamiu

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Quote from: crunck on April 13, 2023, 09:40:01 PM

Quote from: Blurr007 on April 12, 2023, 05:06:21 AM

High rate of crypto illiteracy still makes me sad.

I made a transaction through my bank, Fortunately the money was'nt received by the suppose receiver and i was debited.
I went to the bank for transfer error issue, spending more than 5hours trying to get access into the bank(due to crowd) and 3hrs trying to fix the transfer error.

My point here is that, if i had sent the money in form of crypto(Bitcoin), my transaction would have run smoothly, the only way i would have had an issue was if i had transfer to the wrong address.

Note: Crypto illiterate as mentioned above is not an insult, they are individuals with low crypto knowledge.

What's your opinion ? .

So have you ever used bitcoin during network congestion, especially if we are in bull season? Bitcoin transaction fees become expensive, and transaction completion can take up to several days. I'm sure many people here have experienced the same thing. I bet you are just trying to say good about bitcoin to gain merit, you have never used bitcoin for a transaction at all. Nothing is perfect, everything has its pros and cons.

I highly agree with this opinion. During bull season or even not, sometimes the network gets congested, just like recently where I won a raffle and the prize was bitcoin, it took me 4 days to receive the price although it is not something to panic or be worried about, if the network gets even more congested after that, for sure I will have to wait for few more days again.

Bitcoin or fiat, has both pros and cons. While some supports bitcoin like a fanatic, we should understand that there are also people who don't. We also have to accept that fact and respect their decision. Personally, it doesn't matter to me which is which, but at least I have options to choose, either crypto or fiat.

Mr. Magkaisa

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- In this day and age, the bank is still helpful, especially the ATM cards that we just take in places where there is an ATM using our card. Although, if you go through the online banking system itself, it will take a few days before it is transferred to our remittance.

Which is the advantage of cryptocurrency or bitcoin when we send money to different parts of the world and the transaction transfer is really fast.

michellee

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That's what's been happening all along. We are used to using banks for transactions and have experienced transfer errors so we have to spend a long time to be able to solve the problem.

With the existence of bitcoin, we can overcome the problem of transaction delays due to busy banking networks, banking server repair problems, or others. But bitcoin is still new for them, and maybe they are still learning its advantages and disadvantages.

People may need to learn more about crypto to understand that they can use crypto to transact. But it all requires approval from the governments of each country.

Patrol69

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Quote from: Blurr007 on April 12, 2023, 05:06:21 AM

My point here is that, if i had sent the money in form of crypto(Bitcoin), my transaction would have run smoothly, the only way i would have had an issue was if i had transfer to the wrong address.

Your delay is only temporary. That is, the type of harassment you have experienced does not always have to be the same type of harassment. You may be facing this problem due to some technical problem. But it's true that if the bank had a Bitcoin transaction system, you wouldn't have to face so much harassment without using the wrong address. But sometimes there are technical problems in different systems of banks and I think even if banks accept bitcoin directly they will still have technical problems.

Quote from: Blurr007 on April 12, 2023, 05:06:21 AM

Note: Crypto illiterate as mentioned above is not an insult, they are individuals with low crypto knowledge.

It is not correct to say that the above mentioned persons i.e. various employees of the bank have less knowledge about kript. Maybe they have enough knowledge about crypto but the bank authorities did not give them access to Bitcoin as an alternative mode of transaction so I don't see anything wrong with the bank officials or employees. If banks were to legitimize accepting bitcoins directly, they would certainly have demonstrated considerable expertise in this regard.

Stella Mese

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in this world very much
people and of course everyone has different interests,
some like bitcoin and some don't like btc, and some don't know about btc.

in my opinion this is a natural thing, and in my opinion it takes a long process so that people in this world know and are interested in investing in btc.

I think in this case we have to enjoy the existing situation.

crunck

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crunck

Quote from: Blurr007 on April 12, 2023, 05:06:21 AM

High rate of crypto illiteracy still makes me sad.

I made a transaction through my bank, Fortunately the money was'nt received by the suppose receiver and i was debited.
I went to the bank for transfer error issue, spending more than 5hours trying to get access into the bank(due to crowd) and 3hrs trying to fix the transfer error.

My point here is that, if i had sent the money in form of crypto(Bitcoin), my transaction would have run smoothly, the only way i would have had an issue was if i had transfer to the wrong address.

Note: Crypto illiterate as mentioned above is not an insult, they are individuals with low crypto knowledge.

What's your opinion ? .

So have you ever used bitcoin during network congestion, especially if we are in bull season? Bitcoin transaction fees become expensive, and transaction completion can take up to several days. I'm sure many people here have experienced the same thing. I bet you are just trying to say good about bitcoin to gain merit, you have never used bitcoin for a transaction at all. Nothing is perfect, everything has its pros and cons.

crypticj

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Yes. The banking system is a pretty good and convenient one to use, but it has a lot of problems and is not anonymous. And your money is also NOT in your hands.
That's why we need crypto to change it. It literally solves all problems banks have. And I think people are realizing it now so I think adoption will be speeding up.

Captain Corporate

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I wouldn't really say crypto is without a problem though. I mean OP talked about how he had to go to bank and fix stuff and all that, but at least he had some possible way to handle that. If you were to be dealing with crypto, yeah if you sent it properly then it is all fine but if you didn't? There is no return, its gone, you are done, never getting it back. This is why I highly suggest that we should coexists with fiat world. To be fair if I was a super rich person, I wouldn't send large chunks in crypto fearing I could make a mistake, I would rather have the confirmation that the bank is with me on that and I would be able to fix any issues that may arise. Crypto doesn't have that, its awesome, much better investment, just not something I would like to see alone, fiat should stay with it.

kamvreto

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Quote from: lionheart78 on April 13, 2023, 06:14:05 PM

But on a traditional bank international bank transfer, Bitcoin is way faster having only 10 minutes at least waiting time, while banks international transfers[1] needs 1 to 5 working days. Even PayPal to bank account takes 3 to 5 days[2] although paypal to paypal takes seconds. It is still faster with Bitcoin if we compute the time Bitcoin to bank and PayPal to bank time of arrival of the fund. On top of that faster transaction, we all know Bitcoin does not need any intermediaries and has cheaper transaction fees.

[1] https://gocardless.com/guides/posts/international-bank-transfer-times/
[2] https://support.2go.com/hc/en-us/articles/236226847-When-Will-My-PayPal-Transfer-Be-Available-in-My-Bank-Account-#:~:text=To%20transfer%20funds%20from%20your,when%20your%20money%20is%20deposited.

If you talk about the time it takes traditional banks or local banks now to send funds between banks or between accounts, I think it is still faster because it only takes me a few seconds to send money via mobile transfer or ATM.
Bitcoin may be quite slow with a delivery time of 10 minutes, because it uses the regular Bitcoin Network, if it uses the Bitcoin Lightning network it will be faster and cost less.
Bitcoin does have a few more advantages regarding privacy issues and lower costs if using the lightning network. there is no intermediary and it is fully controlled by us as asset owners.

noormcs5

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Quote from: South Park on April 13, 2023, 03:51:41 PM

Quote from: Blurr007 on April 12, 2023, 05:06:21 AM

High rate of crypto illiteracy still makes me sad.

I made a transaction through my bank, Fortunately the money was'nt received by the suppose receiver and i was debited.
I went to the bank for transfer error issue, spending more than 5hours trying to get access into the bank(due to crowd) and 3hrs trying to fix the transfer error.

My point here is that, if i had sent the money in form of crypto(Bitcoin), my transaction would have run smoothly, the only way i would have had an issue was if i had transfer to the wrong address.

Note: Crypto illiterate as mentioned above is not an insult, they are individuals with low crypto knowledge.

What's your opinion ? .

That is part of the charm of bitcoin which cannot be discovered until you actually try it, since I have adopted bitcoin I had several problems with different banks, nothing too important but as you mention it can be a time consuming experience and it can easily ruin your day if it takes too long to be resolved, however this has never happened to me with bitcoin, at worst my transaction has taken a longer time than usual to get a confirmation, but that is it.

The retailers want to adopt bitcoin but it is the banking sector and the government institutions which will not let this happen so easily. They have the power and they want to continue this without having losing the monetary control to the people by shifting from fiat money to the crypto currencies.

A time will come when everyone will accept crypto and let go the fiat currency, it will not happen overnight. It is not easy to replace the current monetary system which is in controlled by the governments and the people in power.

lionheart78

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Quote from: Saint-loup on April 12, 2023, 08:22:04 PM

Quote from: Plaguedeath on April 12, 2023, 05:14:31 AM

Don't mix Bitcoin with crypto aka shitcoins.

This is why Bitcoin is better than banking system, it's faster and transparent, there's no hide or secret fee if you want to send a coins. Government will not want to accept Bitcoin as a currency because people might tend to choose Bitcoin over their fiat and banks, if not many people use fiat and banks, the government will not make a lot money and many banks will collapse.

Unfortunately, Bitcoin is not anymore faster than fiat wire transfers, because on-chain transactions take more than 10 minutes, even with expensive mining fees while transfers through Paypal or Instant SEPA take only few seconds with no fees. So only LN(that is to say off-chain) transactions can compete with the speed of bank transfers now.

But on a traditional bank international bank transfer, Bitcoin is way faster having only 10 minutes at least waiting time, while banks international transfers[1] needs 1 to 5 working days. Even PayPal to bank account takes 3 to 5 days[2] although paypal to paypal takes seconds. It is still faster with Bitcoin if we compute the time Bitcoin to bank and PayPal to bank time of arrival of the fund. On top of that faster transaction, we all know Bitcoin does not need any intermediaries and has cheaper transaction fees.

[1] https://gocardless.com/guides/posts/international-bank-transfer-times/
[2] https://support.2go.com/hc/en-us/articles/236226847-When-Will-My-PayPal-Transfer-Be-Available-in-My-Bank-Account-#:~:text=To%20transfer%20funds%20from%20your,when%20your%20money%20is%20deposited.

SOKO-DEKE

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Quote from: Blurr007 on April 12, 2023, 05:06:21 AM

High rate of crypto illiteracy still makes me sad.

I made a transaction through my bank, Fortunately the money was'nt received by the suppose receiver and i was debited.
I went to the bank for transfer error issue, spending more than 5hours trying to get access into the bank(due to crowd) and 3hrs trying to fix the transfer error.

My point here is that, if i had sent the money in form of crypto(Bitcoin), my transaction would have run smoothly, the only way i would have had an issue was if i had transfer to the wrong address.

Note: Crypto illiterate as mentioned above is not an insult, they are individuals with low crypto knowledge.

What's your opinion ? .

Although I can sympathize with how you would feel. we do not have the same rationale, so we will continue to encounter people who will never embrace Bitcoin in any form. In reality, there isn't much to blame because some people are ignorant of Bitcoin's existence.Anyone who has conducted a Bitcoin transaction before will be able to distinguish it from a bank transfer. Many people have voiced their complaints regarding problems that do happen in bank transactions but up to now no solution to it.

bosede1

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The answer is that Bitcoin cannot easily accept crypto by all, for now, many people don't even have any crypto address but with the advancement in technology, some organizations might be involved with Bitcoin used as a means of payment.

South Park

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Quote from: Blurr007 on April 12, 2023, 05:06:21 AM

High rate of crypto illiteracy still makes me sad.

I made a transaction through my bank, Fortunately the money was'nt received by the suppose receiver and i was debited.
I went to the bank for transfer error issue, spending more than 5hours trying to get access into the bank(due to crowd) and 3hrs trying to fix the transfer error.

My point here is that, if i had sent the money in form of crypto(Bitcoin), my transaction would have run smoothly, the only way i would have had an issue was if i had transfer to the wrong address.

Note: Crypto illiterate as mentioned above is not an insult, they are individuals with low crypto knowledge.

What's your opinion ? .

That is part of the charm of bitcoin which cannot be discovered until you actually try it, since I have adopted bitcoin I had several problems with different banks, nothing too important but as you mention it can be a time consuming experience and it can easily ruin your day if it takes too long to be resolved, however this has never happened to me with bitcoin, at worst my transaction has taken a longer time than usual to get a confirmation, but that is it.

panganib999

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You can't persuade everybody. But what you can do is persuade the majority. I suspect you're living in Nigeria since I had friends there tell me about the struggles of banking in their place too. But I digress, proper information campaigns should do just fine, but for the most part you will not be able to persuade everyone. In any case, global adoption is coming, but we're not even close, and what hastens this is rallying of information and benefits of bitcoin so the public know about it, ptherwise if we just sit our asses all day without doing anything, we won't get anywhere.

Frankolala

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Banks are centralized system and you need their permission in whatever that you want to use your money for. You will even get debited without them sending the money to the receiver. From the way you explained it shows that you are a Nigeria,Nigeria banking system is very poor in terms of internet service which will lead to debiting customers without reversing the money. Even if you go to the bank,they will not attend to you immediately, all they will do is to give you a form to fill and leave you there waiting.

As for bitcoin,you can't say that it should be adopted by everyone because it is still a new currency which hasn't gained ground in the world. You might have your bitcoin to use for transaction but what if your customer is not a bitcoin fan,this will still not solve your problem. Bitcoin and not cryptocurrency,because there are more than 100 cryptocurrency.

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