the comforts of bitcoin | Bitcointalksearch.org

jossiel

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Quote from: PX-Z on January 31, 2022, 06:45:36 PM

Quote from: jossiel on January 31, 2022, 05:54:14 PM

Quote from: Odusko on January 31, 2022, 07:49:20 AM

True talk,a times you will queue on ATM for hours and people that came after you will still withdraw before you or you may not be able to withdraw that day,but with cryptocurrencies nothing like that,you can easily convert and transfer money to whoever you want to send to,I like digital currency its the best.

That seems to be a very long line for ATM, when I ever use an ATM, it don't take me that long and if that happened to me I'll definitely not going back there where that ATM is placed. I think it's just an exaggeration. But one another reality, when we're selling bitcoin, we're going to withdraw it and has to go through an ATM or OTC whichever you prefer.

Talking about exaggeration, maybe because there's only one ATM on that area, but its not still reasonable that you cant withdraw on that day not unless you never get in the line waiting.

About the line, that's possible that there's only one ATM and it's getting hundred of people in line everyday.

Quote from: PX-Z on January 31, 2022, 06:45:36 PM

Don't compare digital money to cash, you can't send money to someone if the receiver doesn't have the tools it needs, that is why people cash out in ATM is because they need to use the money offline not online and that's the difference.

I'm not comparing it though. What I'm saying is the reality that even we're into digital money. There will always be the time that we have to sell btc and convert it on cash and then withdraw it on the ATM. Not every establishments near to us are not yet versed digitally so they need cash.

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Quote from: jossiel on January 31, 2022, 05:54:14 PM

Quote from: Odusko on January 31, 2022, 07:49:20 AM

True talk,a times you will queue on ATM for hours and people that came after you will still withdraw before you or you may not be able to withdraw that day,but with cryptocurrencies nothing like that,you can easily convert and transfer money to whoever you want to send to,I like digital currency its the best.

That seems to be a very long line for ATM, when I ever use an ATM, it don't take me that long and if that happened to me I'll definitely not going back there where that ATM is placed. I think it's just an exaggeration. But one another reality, when we're selling bitcoin, we're going to withdraw it and has to go through an ATM or OTC whichever you prefer.

Talking about exaggeration, maybe because there's only one ATM on that area, but its not still reasonable that you cant withdraw on that day not unless you never get in the line waiting.

Don't compare digital money to cash, you can't send money to someone if the receiver doesn't have the tools it needs, that is why people cash out in ATM is because they need to use the money offline not online and that's the difference.

jossiel

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Quote from: Odusko on January 31, 2022, 07:49:20 AM

True talk,a times you will queue on ATM for hours and people that came after you will still withdraw before you or you may not be able to withdraw that day,but with cryptocurrencies nothing like that,you can easily convert and transfer money to whoever you want to send to,I like digital currency its the best.

That seems to be a very long line for ATM, when I ever use an ATM, it don't take me that long and if that happened to me I'll definitely not going back there where that ATM is placed. I think it's just an exaggeration. But one another reality, when we're selling bitcoin, we're going to withdraw it and has to go through an ATM or OTC whichever you prefer.

I'm all for the good of bitcoin and it's really comfortable to have it. Specially if you have people in abroad and they're asking to send money back and forth, fees are cheaper these days.

And the biggest reason why many holds, is about it being a truly valuable asset, a store of value.

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Quote from: Ethan151 on January 30, 2022, 05:13:17 AM

This topic tends to share some ideals on how bitcoin has reduced stress and insults among-individuals.
E.g for those in Africa can say that since the introduction of bitcoin the argument and stress from a cashier in a banking hall has reduced because there’s no frequent use of the banking hall anymore.

Bitcoin operate it's Side and bank also operate on its side, bank is still have population even more than before, because is not everyone is aware of Bitcoin to the extend of investing on it, what we should have emphasise on, is Bitcoin is well known across the nation's currently.

Quote from: Ethan151 on January 30, 2022, 05:13:17 AM

There’s nothing like cueing up for the cashier to attend.

it depends your country, a lot of cue is in the bank, especially in the automated teller machine [ ATM ] side, banks are still having numerous customers, maybe your outlines of banks depends on the environment you dwell.

Quote from: Ethan151 on January 30, 2022, 05:13:17 AM

There’s nothing like I don’t know when I will be coming back from the bank anymore.

There’s nothing like I can’t go to the bank because it’s weekend.

There’s nothing like I was here before you sir and the manager addressing the other ahead of you.

All those problems of sorting issues out in the bank are still in existence, only difference is that they have a lot devices that enhance to spend up their works. But other issue complications are still there, so from my second response i made clear that it depends the nation you from, all this point bank's i rendered here is what i experienced from bank any time i go to bank.

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Quote from: Ethan151 on January 30, 2022, 05:13:17 AM

This topic tends to share some ideals on how bitcoin has reduced stress and insults among-individuals.
E.g for those in Africa can say that since the introduction of bitcoin the argument and stress from a cashier in a banking hall has reduced because there’s no frequent use of the banking hall anymore.

There’s nothing like cueing up for the cashier to attend.

There’s nothing like I don’t know when I will be coming back from the bank anymore.

There’s nothing like I can’t go to the bank because it’s weekend.

There’s nothing like I was here before you sir and the manager addressing the other ahead of you.

There’s is nothing like I’m tired and can’t drive to the bank. All transactions are done online and faster not the old accept of going to the bank to withdraw money and after withdrawing start praying and looking randomly if anyone is following you.
This aid of bitcoin transactions will be done in your comfort without anyone knowing and that makes it safer.

You are right with all the aforementioned comforts bitcoin gives and its also a call for total carefulness to avoiding error or any form of mistakes when dealing with bitcoin because it might be costly and irreversible, remember how precious a rose flower is on sight, if you give it a closer looks there you finds it has traces of thorns which could harm.

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Quote from: Ethan151 on January 31, 2022, 06:46:38 AM

I agree with you but I want to ask if you can make international transfer and receiving of money with your debits card on your convince?

I guess it all depends on where you live, which bank you are using, and do you have online banking or not. Debit cards are connected to your bank account. To send money to someone, you need their IBAN number. IBAN means International Bank Account Number. Like the name suggests, you need it to wire money to someone abroad (internationally). The SWIFT code could also be required including some other data.

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Quote from: Darker45 on January 31, 2022, 03:19:24 AM

Quote from: PX-Z on January 30, 2022, 12:33:03 PM

Quote from: Darker45 on January 30, 2022, 10:49:53 AM

As a matter of fact, how many among us Bitcoin supporters and owners have closed our bank accounts since we got into Bitcoin?

It's nonsense to me to close my bank accounts just because I have bitcoin or crypto, not unless I'm living a place where bitcoin is fully accepted and almost all stores where my daily needs can get accepts bitcoin, maybe in el salvador, but I'm not and idk how many people on this forum resides there.

That's what I'm saying. The reality is that when it comes to financial services, the banks are still the ones to depend on. The truth of our day-to-day life is that we are not replacing banks with Bitcoin. So there's really no avoiding driving to the bank, decreasing queues in banks, cancelling of bank appointments, and so on because there's Bitcoin.

As a matter of fact, the banks themselves are addressing such concerns. They have made innovations themselves so that their clients won't have to drive to a branch, line up in long queues, have an appointment, and so on. They've made use of technologies and cater banking services to their clients 24/7 and from the comforts of their homes.

New technologies had brought us convenience, not just only Bitcoin. For we are in the internet era and with the use of online transactions, we can do more things that it never happens before. Perhaps, banks offer such online transactions and with that kind of innovation, we have made a lot of changes and easy life. I also think that even without Bitcoin, these huge changes will come. It was just a coincidence that happens and I think we are clear to that.

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Quote from: Ethan151 on January 30, 2022, 05:13:17 AM

This topic tends to share some ideals on how bitcoin has reduced stress and insults among-individuals.
E.g for those in Africa can say that since the introduction of bitcoin the argument and stress from a cashier in a banking hall has reduced because there’s no frequent use of the banking hall anymore.

There’s nothing like cueing up for the cashier to attend.

There’s nothing like I don’t know when I will be coming back from the bank anymore.

There’s nothing like I can’t go to the bank because it’s weekend.

There’s nothing like I was here before you sir and the manager addressing the other ahead of you.

There’s is nothing like I’m tired and can’t drive to the bank. All transactions are done online and faster not the old accept of going to the bank to withdraw money and after withdrawing start praying and looking randomly if anyone is following you.
This aid of bitcoin transactions will be done in your comfort without anyone knowing and that makes it safer.

True talk,a times you will queue on ATM for hours and people that came after you will still withdraw before you or you may not be able to withdraw that day,but with cryptocurrencies nothing like that,you can easily convert and transfer money to whoever you want to send to,I like digital currency its the best.

Ethan151

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Quote from: Darker45 on January 30, 2022, 10:49:53 AM

If we were to make an actual research or survey on this, I doubt the result would show us that there is indeed a considerable reduction of a bank teller's job or that banks are now less frequently used because of Bitcoin.

I don't think the adoption of Bitcoin has already gotten to a certain point where cashier queues are shortened, bank schedules are canceled, and so on because Bitcoin has taken over.

We can say that it’s been a long time we visited a banking hall or western union for any transactions, this has also lead to reduction in bankers also because the work rate is lesser, workers are mostly employed if the demands are high and I can comfortably tell you that banking hall is not as crowded as it used to.

Ethan151

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Quote from: Pmalek on January 30, 2022, 12:50:23 PM

Everything you explained in the OP can also be achieved if you apply for and use a debit or credit card. Instead of requiring physical paper notes and having to run to the bank to get more of those from a cashier, you pay with your debit card that is connected to your bank account. You don't have to worry about big crowds or the working hours of your local bank.

I agree with you but I want to ask if you can make international transfer and receiving of money with your debits card on your convince?

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Quote from: PX-Z on January 30, 2022, 12:33:03 PM

Quote from: Darker45 on January 30, 2022, 10:49:53 AM

As a matter of fact, how many among us Bitcoin supporters and owners have closed our bank accounts since we got into Bitcoin?

It's nonsense to me to close my bank accounts just because I have bitcoin or crypto, not unless I'm living a place where bitcoin is fully accepted and almost all stores where my daily needs can get accepts bitcoin, maybe in el salvador, but I'm not and idk how many people on this forum resides there.

That's what I'm saying. The reality is that when it comes to financial services, the banks are still the ones to depend on. The truth of our day-to-day life is that we are not replacing banks with Bitcoin. So there's really no avoiding driving to the bank, decreasing queues in banks, cancelling of bank appointments, and so on because there's Bitcoin.

As a matter of fact, the banks themselves are addressing such concerns. They have made innovations themselves so that their clients won't have to drive to a branch, line up in long queues, have an appointment, and so on. They've made use of technologies and cater banking services to their clients 24/7 and from the comforts of their homes.

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Quote from: Ethan151 on January 30, 2022, 05:13:17 AM

There’s is nothing like I’m tired and can’t drive to the bank. All transactions are done online and faster not the old accept of going to the bank to withdraw money and after withdrawing start praying and looking randomly if anyone is following you.
This aid of bitcoin transactions will be done in your comfort without anyone knowing and that makes it safer.

Actually there's because a vast majority of the continent are still not enlightened about Bitcoin. And even though they do, Bitcoin isn't legalized yet and the government aren't friendly to the currency making it difficult for service providers to come into the country and offer cryptocurency related services. What's currently trending in the continent is peer2peer service and that isn't conducive to everyone because they have previously encountered scammers which make it very difficult for the to trust.

If you want to avoid all you highlighted in banks, go get a debit card unfortunately that also isn't well known as there are still citizens that enjoy the traditional banking system. You won't blame them though because the internet service in some of the country are very bad that your transaction can be delayed or reverse. Personally I have experience this situation on different occasions which also affect peer2peer service providers.

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Quote from: mk4 on January 30, 2022, 10:46:01 AM

Quote from: Ethan151 on January 30, 2022, 05:13:17 AM

This topic tends to share some ideals on how bitcoin has reduced stress and insults among-individuals.
E.g for those in Africa can say that since the introduction of bitcoin the argument and stress from a cashier in a banking hall has reduced because there’s no frequent use of the banking hall anymore.

Are you saying that because of Bitcoin, cashiers in India has their workload actually significantly reduced? Can anyone back this up? Because as bullish I am on Bitcoin, I doubt the impact to the banking sector(in the consumer PoV) is THAT significant.

I doubt it is because of Bitcoin, or at least only because of Bitcoin. Less and less cash is being withdrawn from ATMs because more and more electronic transactions are being made, and this is a trend around the world, even if some countries still make relatively few electronic transactions.

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Quote from: Upgrade00 on January 30, 2022, 03:15:20 PM

The fact that bitcoin is irreversible once confirmed is actually a positive in my opinion as no one can regulate your funds according to their terms of service, neither can funds in your wallet be retrieved by the sender. You would put in more work to learn the basics and it could take a while, but eventually you will get a hang of it.

Actually Im wrong to mentioned con alone. It also be a positive since no one can stop your transaction or hampered. However how about those who got mistake? What can we tell them oh sorry cause you didnt do it well. Anyone can make mistake but not in this kind of approach since we all know what will happened. Using bitcoin includes accuracy at all. Cause a mistake like sending on wrong address would definitely hunt you forever. We cant segregate advantages of centralize to decentralize, a fact that they have both pros and cons is something we should accept.

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Another thing I like about Bitcoin is that there's no one blocking your money when you're travelling on holidays.

I still remember one time when I was trying to pay with my card and it got blocked, the transaction didn't go through. Had to use an emergency card. Apparently I had to inform the bank that I was travelling, and had to tell them where and when I would be, beforehand. That's just nonsense, it's my money, I should be able to spend it anywhere and any time I want to.

With Bitcoin you don't need the permission of anyone to use your own money.

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Quote from: Ethan151 on January 30, 2022, 05:13:17 AM

This aid of bitcoin transactions will be done in your comfort without anyone knowing and that makes it safer.

This is how Bitcoin aims by the creator, by the privacy and fast transactions that should be done quickly and that's the reason Bitcoin was invented.

I don't know how it will work online banking in your place but I think the same in my place, it works 2-3 working days before your transaction will be successfully processed but keep in mind both Bitcoin and the banking system has pros and cons. Bitcoin transactions are irreversible while in the banking system you can request chargeback which is returned to the sender.

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Quote from: mk4 on January 30, 2022, 10:46:01 AM

Are you saying that because of Bitcoin, cashiers in India has their workload actually significantly reduced? Can anyone back this up? Because as bullish I am on Bitcoin, I doubt the impact to the banking sector(in the consumer PoV) is THAT significant.

I tried to understand where OP is tilting to. There is decrease in banking activities. But not to the essence portrayed by OP.
Again, Bitcoin adoption rate has not gotten to the extent portrayed by OP.
The use of POS, mobile apps, paypal, even government synchronising tax payments easy humanity. What happened actually is enhanced technology.
Before I knew Bitcoin I stopped going to bank for a long time because I found out I can do everything from the comfort of my home.

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I don't know what the banking situation in your country is, but modern banking usually has online banking, so that's not really something bitcoin invented. However, the major comfort of crypto is that it brings additional income to the individual and, in that sense brought them more security. But it's good that crypto took some cues from regular banking because there is no reason to reinvent the wheel. I wonder how online banking will evolve in the future.

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OP you sound like we have gotten to the stage were Bitcoin is now the major currency and not fiat, which is not true, if those are your experiences when you visit the bank, then you'll still experience it even now, because Bitcoin can't do anything about it, only the bank can, and that is through upgrading their services.

Bitcoin is an alternative currency that has its own advantages when you use it, it is digital, so it's easier to perform transactions with it. But as far as I know, it can't do anything about the hassles you experience when you visit your banks or the atm cause you'll always use their services, it is the bank that will fix such hassles, or possibly when Bitcoin is now mainstream and widely accepted that you no longer need fiat, and who knows if that will be possible ever.

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Bitcoin operates without banks or the need for a third party, but this does not mean we can do without it or bitcoin is a perfect replacement, it just means it operates as a P2P network.

Quote from: cryptoaddictchie on January 30, 2022, 05:21:22 AM

But you cant revert it back which is the major con since its running on decentralized chain. Once you made a mistake like forgot your private key of your wallet, then its good as gone. Better dont forget that too. Or you send to someone else wallet instead of the correct receiver, you cant simply revert it or more like to say impossible.

The fact that bitcoin is irreversible once confirmed is actually a positive in my opinion as no one can regulate your funds according to their terms of service, neither can funds in your wallet be retrieved by the sender. You would put in more work to learn the basics and it could take a while, but eventually you will get a hang of it.

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