So I told my banker about bitcoin - page 6.

xWolfx

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Never trust a Banker or anyone else to hold your bitcoins.
Keep the private keys and hold them yourself.

I agree with this 100% unless you are being paid a % in profits over time and you're sure that it is not a scam.

However i find extremely funny that they need to be taught how to do something because they are really indifferent in learning by themselves and improving in another subject which is an interesting thing to note.

Broly46

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Quote from: pixie85 on January 26, 2019, 05:14:31 PM

Does that change anything?
My parents can't use online banking. They are never going to learn the app because there are too many buttons in there and too many things to click and fill in. Too many boxes and you have to get a confirmation on your phone and remember the login and password. It's too complicated for them they prefer to swipe the card where they need to.
That didn't stop the applications from being developed and more people choosing online banking. Nobody cares about people like my parents.

More people will use online banking in future because we hope the new generation will be smarter than this generation, but it is not true, new generation are not smarter, only few of them are exceptionally good, the rest are just dumb, they are the people who continue look for help from the bank.

Quote from: eaLiTy on January 27, 2019, 04:15:49 AM

Quote from: Broly46 on January 25, 2019, 05:36:11 AM

I am not sure how a bank could approach you and ask you to create a wallet for them if they do not have any idea about it, are you telling that they are planning to accept bitcoin and they are asking your help to create a wallet for them which is absurd in the first place, may i know the bank details to come to a conclusion. In reality these actions wont happen like this, there will be a board meeting and they would hire someone who could teach them and then they will decide on how to proceed forward, i am not sure what the situation is here, if you can tell me which country you are from that would be a great insight for this topic.

I just go around and tell some bankers, definitely not some serious meeting, just some casual talk, they don’t dislike bitcoin, so I don’t think much before telling them what I know about bitcoin.

Sithawaka

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Quote from: mich on January 25, 2019, 06:33:38 AM

Well depending on where and who you bank with, your banker had probably heard of Bitcoin before.
With so many crypto exchanges accepting bank payments these days, chances are that your banked has been approached by a customer attempting to purchase crypto online.
Even though most banks arent crypto friendly, I think most bankers are aware that it exists.

Of course many banks are dealing with crypto or bitcoin directly or indirectly because there is a considerable percentage of users in the crypto world who use there banks accounts with cryptocurrency related systems so it is not a surprise if a bank wants to make a bitcoin wallet and man major banks like Swizz has gone to the extend of offering business accounts for Blockchain and crypto related companies in the world and that is becoming very common these days

crzy

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Bankers is not allowed to participate on this market, they are being restricted by the banks to deal with this because for the banks this is a scam and if the banks caught them they will be fired. Its hard to discuss cryptocurrency to anyone at first but eventually they will learn it if you are good enough to guide them.

Artemis3

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Quote from: pundit on January 27, 2019, 06:52:33 AM

Its not like people using smartphone do not know to take advantages of it but some may be using it for other purposes like accessing social media, GPS services, data communication etc. There might be few people using smartphone for banking transactions but number of tech savvy people is increasing day by day and I hope after some years picture will be different, there would be more people associated with crypto currencies.

The irony here is that smartphones became the computers that they never touched in the past (because only geeks would touch those, right?). Unfortunately traditional banking is not suited for wearable devices, while cryptocurrency is. Sure there are apps that bridge the gap, but you can clearly see the difference in safety and cost of transacting in fiat vs transacting in crypto.

As stated by Antonopoulos, credit cards are 50ies technology, and "cheques" and banknotes are as old as the banks themselves...

pundit

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Quote from: Broly46 on January 25, 2019, 05:36:11 AM

My bankers told me, I need to help them to create an bitcoin wallet and hand it to them, and they’re too busy to learn it and it’s very difficult to use, they don’t believe cash would die, they deal with thousands of clients everyday who need bankers to create banking account for them, and they know a lot of people, despite having a smart phone, are not good enough to use the phone for simple online banking, they are only good enough to make phone calls with a smart phone, they don’t even know how to send texts to friends, they don’t believe their clients are capable to create their own bitcoin wallet and use it as cash, their clients would always come to them for help with their banking problem, and bitcoin didn’t provide any help as friendly as banker, it’s why it would fail to gain their attention. And more shockingly, they’re talking about their clients as young as 20-30s, they’re not gonna learn to use bitcoin, only a handful of very young people are tech savvy enough to use smartphone to their fullest, the rest of them are just like our grandma dealing with smartphone.

Its not like people using smartphone do not know to take advantages of it but some may be using it for other purposes like accessing social media, GPS services, data communication etc. There might be few people using smartphone for banking transactions but number of tech savvy people is increasing day by day and I hope after some years picture will be different, there would be more people associated with crypto currencies.

eaLiTy

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Quote from: Broly46 on January 25, 2019, 05:36:11 AM

My bankers told me, I need to help them to create an bitcoin wallet and hand it to them, and they’re too busy to learn it and it’s very difficult to use, they don’t believe cash would die

I am not sure how a bank could approach you and ask you to create a wallet for them if they do not have any idea about it, are you telling that they are planning to accept bitcoin and they are asking your help to create a wallet for them which is absurd in the first place, may i know the bank details to come to a conclusion. In reality these actions wont happen like this, there will be a board meeting and they would hire someone who could teach them and then they will decide on how to proceed forward, i am not sure what the situation is here, if you can tell me which country you are from that would be a great insight for this topic.

xabre

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Don't worry about many people still not understand about bitcoin because there are not have commission for asking other become our partner at bitcoin, Bitcoin have other site working because do not needed for donwline just always invest at lower price and selling when higher price, keep hold your bitcoin when price is getting down and selling when bitcoin price have grow up at higher price its way how to get profit at bitcoin investment.

imstillthebest

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Most likely Bitcoin is currently very heavy to use and not all people can use it.

Heavy ? Do you mean hard rather ? Well yes you are right and i totally agree on you that not all individuals can use bitcoin because they maybe lacking of resources to recieve and send a bitcoin . this could be the reason on why fiats and traditional banking system wont vanish because they will be always useful for common people .

MFahad

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I think that the usual Fiat money will remain and will not go anywhere. But the use of cryptocurrencies will also increase in the future. So I believe that they will coexist together.

I think opposite of it. Fiat money has been there for a good amount of amount and now it is time to replace it with digital currencies. Remember the time when Barter system was replaced by fiat money. No one ever thought that these pieces of paper would be so much worthy. Similarly those who are thinking that Digital currency cannot be dominant do not want to change and bankers are the ones who dislikes the bitcoin the most, as it is direct threat to banking sector jobs.

Artemis3

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Quote from: Broly46 on January 26, 2019, 04:54:56 AM

Quote from: Artemis3 on January 25, 2019, 07:17:38 PM

Hmm lets see:

Install Electrum
Create a new wallet
Write (in a piece of paper) the 12 words and store it in a very safe place
Introduce a pin code (twice) to protect it from strangers temporarily using your phone
Go to receive so you can show others the QR code of your bitcoin address (if receiving) or
Go to send so you can either input a Bitcoin address or scan someone elses QR code (if sending)

That wasn't too hard, wasn't it? Especially considering you will do the first 3 steps only occasionally. Ok, handing a piece of paper or metal to a person next to you is easier but, next time you want to send money overseas, you are going to love skipping all the wire transfer fees and time wasted.

Using Bitcoin, it takes the same time (usually under an hour paying minimal fees) and effort to send the equivalent of 10$ to the person next to you, or 10,000,000$ to another country...

Doesn’t matter how easy it was, I found creating bitcoin wallet was easy too, may be easier than using electrum, but it may not be easier for them, because my grandma would never know how to turn on a TV, I don’t know what’s the problem.

Quote from: SwayStar123 on January 25, 2019, 10:30:13 AM

lmfao im guessing they dont know much about how bitcoin wallets work xd never tell anyone to make a wallet for you and to then hand it over

That will be the number one reason they would never gonna use it, because no help would be given to them.

Perhaps there will be a group that will never touch it, same as there was a group that never touched a computer, or before that a radio, or electricity... But time changes everything.

In human history, technology has changed things that up to that point, were tradition. Can you imagine life without refrigerators? Only a century ago those came in use...

pixie85

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Does that change anything?
My parents can't use online banking. They are never going to learn the app because there are too many buttons in there and too many things to click and fill in. Too many boxes and you have to get a confirmation on your phone and remember the login and password. It's too complicated for them they prefer to swipe the card where they need to.
That didn't stop the applications from being developed and more people choosing online banking. Nobody cares about people like my parents.

denzkilim

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Quote from: qwk on January 25, 2019, 06:16:23 AM

Quote from: Broly46 on January 25, 2019, 05:36:11 AM

My bankers told me, I need to help them to create an bitcoin wallet and hand it to them, and they’re too busy to learn it and it’s very difficult to use

And your point is? Wink

See, creating a bank account is also something they're too busy to learn (think about an accountant setting up a database, creating entries, checking log-in-credentials etc.).
That's all technical stuff.
No one in their right mind would expect a non-technician to do that.
That's what you have the tech guys for.

For some reason, however, a lot of people believe that with Bitcoin, this is somehow different.
Well, it isn't.

My point here is that "I don't understand the technology, therefore it won't fly" is just a sorry excuse for someone not to have to deal with anything unfamiliar.
Same old, same old.

LOL, that's correct, And why would a person entrust its Bitcoin wallet or any kind of Crypto Currency wallet to a banker anyways? Huh

Bitcoin wallets need a private key or its phrase to be able to entrust it to them and I don't get the point of entrusting a Bitcoin wallet to someone if it should be entrusted to no one but the person who owns it.

Quote from: mich on January 25, 2019, 06:33:38 AM

Well depending on where and who you bank with, your banker had probably heard of Bitcoin before.
With so many crypto exchanges accepting bank payments these days, chances are that your banked has been approached by a customer attempting to purchase crypto online.
Even though most banks arent crypto friendly, I think most bankers are aware that it exists.

It is impossible that those bankers are not aware of Bitcoin or Crypto Currencies because this is all about money talks and I do believe that they know it even if they are old or most of them are older than anyone.

ChrisPop

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Not your Keys, Not your Bitcoins

That's a true fact indeed, but in order to evolve we need to adopt new technologies and therefore stop being lazy and start learning new things. Maybe as a start the smart people who do know how to use technology to its fullest potential can take a stand and be an example for the rest? I believe that people just need to be educated and motivated to use something new. The majority are too lazy or comfortable with their lifestyle to try something new so we must solve this problem.

NavI_027

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Quote from: goaldigger on January 26, 2019, 10:38:48 AM

I dont believe in this. Even 40-50 years gap has enough knowledge on sending money on a bank app and has known more than basics on smart phone. Well, it really depends on the place youve questioned for. If you would survey on provinces, where technology doesnt come often, maybe you are correct.

I believe the same thing as well. I don't know if the bank employee OP talked with is jjust exaggerating the scenario or just interviewed a primitive person. I can't believe that a person who knew to make a call doesn't know how to text where in the first place it's more basic than the first one. What the story about is that the bank employee OP mentioned is belittling others and got a very high ego, that's all Roll Eyes

.

I hate those kind of people. A btc unbeliever should stay silent, respect the belief of others and do not talk if he will just say bad things against it.

jpnl0008

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The fact still remains that fiat can not go extinct the question is how many persons would be willing and ready to use learn and work wit the crypto currency? it can be there as an alternative but would not take over fiat

goaldigger

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I dont believe in this. Even 40-50 years gap has enough knowledge on sending money on a bank app and has known more than basics on smart phone. Well, it really depends on the place youve questioned for. If you would survey on provinces, where technology doesnt come often, maybe you are correct.

gabmen

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Quote from: MonaLeeTracy on January 26, 2019, 04:53:46 AM

Quote from: kingpin4321 on January 26, 2019, 01:57:39 AM

Well it's unbelievable that a banker at this point in time don't yet know about bitcoin and it's vast possibilities majority of cryptocurrency enthusiast from where I come from comprises of bankers

indeed, we should tell bankers that all know that crypto is very beneficial for development and we can also get more knowledge from crypto.

Bankers probably know more about crypto than many of us here. Of course they should be well oriented about crypto and what it does and why they have to oppose it. But usually it makes for a healthy argument if someone who knows crypto well sits down with a banker.

Broly46

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Quote from: thankyoulord on January 25, 2019, 09:32:05 AM

well you right about so many people not being able to use smartphones efficiently apart from making calls which makes it difficult for so many to adopt use of bitcoin. But i belive if we all who are conversant with the use of smartphones in using bitcoin teach everyone we know, then in no time so many people will get use to using bitcoin on their phone. i remember when phones were newly introduced, so many people find it hard to even make call with and had the young ones who are good with technology teach them how to use it. so if the bank can teach people things then we can also teach them how to use bitcoin in smartphones

It is more of a minimum entry barrier everyone would face, but once they don’t have what it take to use smart phone for online banking, bitcoin would be a far-fetched for them.

Quote from: Artemis3 on January 25, 2019, 07:17:38 PM

Quote from: Broly46 on January 25, 2019, 05:36:11 AM

.

Hmm lets see:

Install Electrum
Create a new wallet
Write (in a piece of paper) the 12 words and store it in a very safe place
Introduce a pin code (twice) to protect it from strangers temporarily using your phone
Go to receive so you can show others the QR code of your bitcoin address (if receiving) or
Go to send so you can either input a Bitcoin address or scan someone elses QR code (if sending)

That wasn't too hard, wasn't it? Especially considering you will do the first 3 steps only occasionally. Ok, handing a piece of paper or metal to a person next to you is easier but, next time you want to send money overseas, you are going to love skipping all the wire transfer fees and time wasted.

Using Bitcoin, it takes the same time (usually under an hour paying minimal fees) and effort to send the equivalent of 10$ to the person next to you, or 10,000,000$ to another country...

Doesn’t matter how easy it was, I found creating bitcoin wallet was easy too, may be easier than using electrum, but it may not be easier for them, because my grandma would never know how to turn on a TV, I don’t know what’s the problem.

Quote from: SwayStar123 on January 25, 2019, 10:30:13 AM

lmfao im guessing they dont know much about how bitcoin wallets work xd never tell anyone to make a wallet for you and to then hand it over

That will be the number one reason they would never gonna use it, because no help would be given to them.

MonaLeeTracy

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Quote from: kingpin4321 on January 26, 2019, 01:57:39 AM

Well it's unbelievable that a banker at this point in time don't yet know about bitcoin and it's vast possibilities majority of cryptocurrency enthusiast from where I come from comprises of bankers

indeed, we should tell bankers that all know that crypto is very beneficial for development and we can also get more knowledge from crypto.

Topic: So I told my banker about bitcoin - page 6. (Read 1561 times)