Topic: So I told my banker about bitcoin - page 5. (Read 1561 times)

there are many bankers who understand bitcoin, but are still in the stage of personal ability. some are still struggling to learn because they are too busy with endless bank routines, non-stock regulations also make them dare not mix them with the fiat system.

But after asking with some of them, they really understood but did not dare to express it vulgarly.

Regular bank employees i'm sure wouldn't mind dealing in crypto. It's even likely that they understand more about it than most new investors. Though yeah i don't think banks would allow anything crypto related onsite.

The example you mentioned shows us very important facts
First, we have a lot of work to do to spread the idea, and we must do our utmost and succeed.
Second, BTC will invade every place and even its first competitor, namely banks.
Thirdly, we must convince bankers and other people who are fearful of BTC that
BTC Not a threat to their business
  and that everyone can work and achieve their goals.

Everything new is always difficult to move among the masses of people. But humanity is still evolving, and instead of laziness and technical ignorance comes the dawn of technology. After more active, the rest will continue to enter bitcoins. At various times, such giants as WordPress, Microsoft, Reddit, Expedia and Wikipedia, announced the possibility of payment for goods and services. they will accept bitcoins as a means of payment - Dell electronics maker, PayPal payment system, eBay online stores, Amazon, AirBaltic and Time publishing company. The ice broke.

That will be okay if he decides to get involved in the cryptocurrency by secretly. He doesn't have to tells other people about crypto, and it's better he collects as much money as he can from cryptocurrency, and when the crypto can become more popular, then that is his time to tells to his friends about cryptocurrency. I am sure that there are people that do what your bankers did while they are working on the government and afraid to get fired from his jobs.

This is one of what I am talking about here in the past.

It is about the rural places.
I have been in many places just on vacation and I find it hard to see that they are using a modern technology payments.
They always live with paper money or pennies. They dont even have bank accounts or any plastic cards that will be possible for withdrawal.
No savings. Just a small bag where they keep their money.

Yes, it will take a long time. But I really want it to at least crawl to those places. Even if just gossips.

Those types of merchants abound in my country and guess what, thanks to the magic of hyperinflation, most have to own a debit card reader, usually the mobile variation. Last year our physical currency went down to 1% of the total circulating, because the regime in its infinite wisdom. not only made money out of nowhere, they made it digitally only (added zeroes to the State bank accounts, so they could keep paying wages, etc after running out of money).



These things aren't exactly cheap, they cost about the same as a smartphone.
Often the merchants share one among many, so there is usually an additional table just for paying, as this process isn't instant since the device needs to dial up, connect to the bank, do the tx and show/print the result and hang up. For Every Single Customer. Yet we are used to it, and so could you.

Transacting with Bitcoin isn't much different to the debit card routine.

Hmm... so you're going to put money under the mattress? People do not have many options, their salaries go to bank accounts, governments limit a certain amount of money that will be allowed for each citizen to circulate with them. Imagine that you want to buy a house of 1 million dollars? You'll pay with Bank check, that means you have more than one million dollars in a bank. We're hostages of banks . But cryptos are still a long way from replacing banks.


this is the most important thing


This is My country and where I live



this merchant would not be able to accept bitcoin as a means of payment. this is another example

It's no doubt we are after a human being who depend on symbiosis relationship to survive the other day, to survive we need to extract any values from the other folk, and money become a good medium to transfer value from you to me, but once the values are completely extracted like what we have today that 99% of money belong to the richest, or equally to 99% of all your value are extracted, force to survive with 1% value for the rest of the life, it's when symbiosis relation become inequality, it become a predatory relationship, and revolution will be followed to destroy that predatory relationship between human being. And I believe bitcoin are the key to the revolution.


I have no idea the situation in the Venezuela, but I believe very few of them are tech savvy too.

Rent seeking behavior has been practiced since the beginning of the civilization. It is no doubt the bank play a major role in making it a success. I have always think about one article from the other author, it is describing as the bitcoin success will lead us into the negative  economy growth, the medieval age, and even fear mongering of the collapse of economy will lead us back to cowboy age, and followed by a number of terrifying stats about the life of the cowboy age, Im wondering if the economy are usually driven by technology innovation, could bitcoin and its mining rigs, products not consider to be a tech that could contribute to the economy?

some of us are already accustomed to smart phones and are accustomed to transacting without face to face, but some people who still use telephones when these transactions are not face-to-face are very difficult for them to believe, because they are not familiar. this still takes time and we cannot force it.

To us that is not hard but you are not taking into account that not everyone has the same knowledge and experience with technology and you are forgetting that during many of those steps mistake can be made.

For example:

When trying to download electrum people could do it from another site and lose their money.
They could lose their 12 word seed.
They could forget the pin on their phone.
They could send their money to the wrong address or be victims of a virus which replaces the address with the address of a hacker.

I am sure that cash will be able to survive even though i am a pro crypto, cash is there for many years and taking it down will not be as easy as what we think. Crypto is still a technology thing and i am not surprise that, there is still a vast majority of people is still not a crypto ready person even with a smartphone.

I don't have banker friends, but the acquaintances I knew of were very much entrenched in the "traditional" banking and finance systems. I actually only know them because of my recent (is 2016 still recent) living and working circumstances but they're accountants, tax experts, financial compliance specialists... so to speak.

The difference with them was: willing to spend a lot of time learning about Bitcoin. But other than that, same sort of responses like your banker friends:
- they prefer custodial services. They can't be arsed to learn to use a Bitcoin client. Using it is a fantasy for nerds.
- they don't think cash will die. Bitcoin will be big, but they see it (or saw it hahaha) as a cash cow.
- they also sell on Bitcoin to clients, but in fact manage accounts for clients. They and they clients have never actually used Bitcoin, signed anything, broadcast a tx, nothing. They never intend to.
- Because Ripple will be the thing everyone uses, not Bitcoin, which will get replaced.

But you're not surprised by this I hope? Know the banker, know the responses.

And that's why I think all this institutional interest leading to mainstream adoption is not true.

No matter how big crypto will be, Fiat won't die, not a lot of people understand about crypto, because of the unclear regulations a lot of people hesitate to introduce crypto in a huge scale, and there are people that refuse the idea of Bitcoin,so we can't force them to used or understand about crypto

You are  right . allot of people are busy making  money  but they dont have time to lean about how to keep their money safe ..  in my country  Telecommunication companies is running something  call mobile money  .. i can tell you 90 percent of mobile users in Ghana are now having mobile money wallet .  but 30 percent of people having mobile money wallet dont know how to used mobile money  all they do is hand over their  phone to Merchant agent review their secret pin code to them when ever they want to do transaction .. and i can tell you mobile money is talking over banking sector  in our country  . so you have to bare in mind that no matter what every one  can never know how to create bitcoin wallet . When crypto  become accepted where is always going have a way for people to used bitcoin all the world ..     

If they want to learn how Bitcoin works in the next few years, I think it's too late, because in the next few years the price of Bitcoin will grow and grow countless and I'm sure everyone will certainly ignore it to teach them how Bitcoin works.

FIAT currency and the current banking system is pretty obsolete but because the Banks and Governments, Big corporations and Whales have the clout and money, they are able to control and influence us in more ways than we can ever imagine. Like for example on the TV and in other media outlets, you will get a ton of banks advertisign their services but you won't get your JOE BLOGS watchign an ad about a Bitcoin wallet on prime time TV. People ar elike sheep they follow what they are told and pursuasive advertising is there to brainwash people into stickign with the status quo and only finding acceptable what they are being presented with by these very powerful bodies. The Banks are not just going to walk away from day trading our money and making billions from it. 

I guess people in Venezuela have enough time to learn how to create a bitcoin account.
On the contrast, people who live in countries with a stable financial system will take a very long time to realize that using bitcoin is important.

It could be true, but as long as they can hide their activity in the cryptocurrency and never told other people even from their business colleague, it will not be a problem to them. I think the bankers will interest with the cryptocurrency because crypto got a boom in 2017-2018 and I am sure they will find out what is going on in the cryptocurrency world. And as human, I think it's natural if finally, they are joined in cryptocurrency because they can find a new payment system which they never saw before.

creating a bank account = submission over the rule of the banks owners and founders

using a bitcoin wallet = submission over the rule of the bitcoin whales, bitcoin miners, its founders and the cryptomedia owners.

its actually not different at all. its basically the same crap both of them.

with "our money" or "our financial system" they mean the founders not the generation they want to scam.