[POLL] Bitcoin is just like as a Swiss Bank Acc for holding black money ?? - page 2.

Xenoph0bia

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Quote from: amiryaqot on June 18, 2015, 11:51:20 AM

BTCitcoin is more than just a currency in my point of view the last one option is more attractive for this, the current banking system is not secured and much expensive way of transaction with very poor speed but on other side bitcoin is truly decentralized system and more secured way to keep to your savings safe for bright future.

Yeah and the Privacy attached to bitcoins makes it more attractive and popular as nobody is aware that who is transacting and your identity is also not disclosed So it is better then a traditional banking system for sure and the transaction fees are too low as compared to the banking system.

amiryaqot

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BTCitcoin is more than just a currency in my point of view the last one option is more attractive for this, the current banking system is not secured and much expensive way of transaction with very poor speed but on other side bitcoin is truly decentralized system and more secured way to keep to your savings safe for bright future.

bryant.coleman

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Bitcoin is not an effective medium to keep black money. The exchange rates are too volatile, for it to be used for storing black money. If I had black money with me, I'll hold them in fiat currencies such as USD or CHF, or in the form of treasury bonds from low-risk nations such as the United States or Canada. Investing in Bullion, Real Estate, Equities and Mutual Funds are also OK. But keeping the illicit wealth in the form of Bitcoin is too risky.

jeannemadrigal2

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Quote from: H.W.Z on June 18, 2015, 10:52:46 AM

Quote from: Karartma1 on June 18, 2015, 06:48:27 AM

It's more secured method to hold your money without too much devaluation.

Not really! The normal ppl ignore the importance of backing up the wallet and don't know proper ways to keep his private key safe and end up losing money! Once you get hacked, you will never get back the money! The banks is different and your deposited fund is secured!

This is the trade off for now, and maybe one of the biggest problems to wide adoption. Here is a case where using a good secure online wallet will be better than using your own computer. Just because of GOX does not mean all online storage is doomed. Wasn't there an exchange that got hacked, that covered its users losses on the hack? Which one was that again I forgot. But anyway that is a good sign that they are taking security seriously, if they are willing to cover hacks.

But for the vote the obvious answer is obvious. It is just like any money , and it can be used for illegal things but it doesn't mean that normal people will somehow all of a sudden start selling drugs and using prostitutes just because they have bitcoins lol.

HI-TEC99

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Quote from: Dire on June 18, 2015, 04:11:30 AM

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Bitcoin is actually a pretty poor anonymous currency as the ledger and transactions can be followed and many times the end point will show who the user is.

........

Swiss bank account holders can make transactions without any publicly available way to track them. All Bitcoin transactions can be tracked by the general public unless you start using mixers or other laundering techniques. If using mixers the first transaction sending your Bitcoins to a mixer is publicly available, so it's obvious when you made a withdrawal and how much for.

H.W.Z

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Quote from: Karartma1 on June 18, 2015, 06:48:27 AM

It's more secured method to hold your money without too much devaluation.

Not really! The normal ppl ignore the importance of backing up the wallet and don't know proper ways to keep his private key safe and end up losing money! Once you get hacked, you will never get back the money! The banks is different and your deposited fund is secured!

Karartma1

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It's more secured method to hold your money without too much devaluation.

Amph

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last option feels the more correct, and 1 of the reason for this is because you can't print bitcoin from nothing like bank can do with their fiat, also consensus isn't centralized like in the bank

one thing that i really like about bitcoin which make it vastly different from any bank, is that you have full control over your money, there isn't something like, all the excuses that bank has some times, to not let you withdraw your money for example

ammy009

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Quote from: Dire on June 18, 2015, 04:11:30 AM

The Swiss banks do actually know the names of the account holders - contrary to popular belief - it just shows a number on the bank transactions instead of a name is all.

Bitcoin is actually a pretty poor anonymous currency as the ledger and transactions can be followed and many times the end point will show who the user is.

I think you mean 'Dash' or 'Monero' for super-secret criminal money.

Dash & Monero are alt-coins. I don't think about them. privacy protection in BTC is really needed to upgrade ...

ammy009

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Quote from: Lethn on June 18, 2015, 04:06:59 AM

Voted more secured, but really it is nothing like a bank account, the difference between Bitcoin and a bank is that your computer is the bank and all the miners people use are the regulators. The software just doesn't discriminate against people based on what they're doing the same way a banking system does and that's why banks and governments hate it so much.

You can't persecute numbers and letters which is really all Bitcoin is in the end but that's what makes it such a good currency.

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Dire

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Crypto-Games.net: DICE and SLOT

The Swiss banks do actually know the names of the account holders - contrary to popular belief - it just shows a number on the bank transactions instead of a name is all.

Bitcoin is actually a pretty poor anonymous currency as the ledger and transactions can be followed and many times the end point will show who the user is.

I think you mean 'Dash' or 'Monero' for super-secret criminal money.

HCLivess

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=== NODE IS OK! ==

Quote from: ammy009 on June 18, 2015, 04:01:25 AM

what are you thinking Huh

Bitcoin is OP

Lethn

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Voted more secured, but really it is nothing like a bank account, the difference between Bitcoin and a bank is that your computer is the bank and all the miners people use are the regulators. The software just doesn't discriminate against people based on what they're doing the same way a banking system does and that's why banks and governments hate it so much.

You can't persecute numbers and letters which is really all Bitcoin is in the end but that's what makes it such a good currency.

ammy009

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Merit: 250

what are you thinking Huh

Topic: [POLL] Bitcoin is just like as a Swiss Bank Acc for holding black money ?? - page 2. (Read 1479 times)