Topic: What don't you like about Banks and Banks controlling your money - page 14. (Read 5757 times)
I don't like traditional banks, they are always ready to reveal the secrets of the operation
Anyone that works at the bank can see all your account information. Monthly fees, atm fees, overdraft fees. Banks suck!
Im having positive and negative thoughts about this bitcoin banking thingy. What I like about banking is it is safe with the hands of the bank and such transactions will be more convenient because the bank will work for you but contratry to what i have said it sucks because sometimes you cannot trust some banks with your money especiallt with bitcoin you have worked on. And fees for transaction sucks. But what do we know, change is the only constant thing on earth. We never know what happens in the next day but let us look in the brighter side.It is good having a Bitcoin bank or store your money in a bank because it what publicly known where you save your money securely and together with the laws and regulations that added up to the security. In contrary, banks itself can endanger your money especially when they see it as questionable as to where did you get it then you will take the hassle to present the proof and considering that some people are not aware, especially those older ones in the government, of Bitcoin they will again question this. A lot is asked while in Bitcoin there is not much which is very convenient.
First I don't like bank because every of our transaction is being watched and maybe I am paranoid because I saw in TV how easy for the hacker to hacked our account and spend our money, whether it's from ATM or internet banking and there is so much document that I need to provide when I want to open an account
Anyone that works at the bank can see all your account information. Monthly fees, atm fees, overdraft fees. Banks suck!
Im having positive and negative thoughts about this bitcoin banking thingy. What I like about banking is it is safe with the hands of the bank and such transactions will be more convenient because the bank will work for you but contratry to what i have said it sucks because sometimes you cannot trust some banks with your money especiallt with bitcoin you have worked on. And fees for transaction sucks. But what do we know, change is the only constant thing on earth. We never know what happens in the next day but let us look in the brighter side. 
Talking about bank well honestlly I don't like the bank because they always charge me for everything even for nothing like fee for using atm machine, fee for transfer to the same or another bank and the most crazy is you will always pay monthly fee even though you don't use their service for transaction, well i think it just my bank, right?On the other hand it's centralized they have ultimate controll over my money they can freeze it or maybe run away. You know what i prefer to save my money on my bedroom instead of saving them out there, maybe if i had lot of money i will consider it.
I once had a problem with the bank where my account was suspected of doing illegal transactions but I never did, but didn't last long and we solved the problem by mutual agreement. Bank is a centralized product, and you live with a centralized capitalist system, if you deplore transfer fees and monthly fees for system development and hire staff and employees at the bank, at least your account authority is guaranteed by the government to be safe guarded, you must understand correctly. This is much better than you save one billion in your home and then you are robbed or your house is on fire. Over time, in my opinion, bitcoin will also be included in the bank application system.
Talking about bank well honestlly I don't like the bank because they always charge me for everything even for nothing like fee for using atm machine, fee for transfer to the same or another bank and the most crazy is you will always pay monthly fee even though you don't use their service for transaction, well i think it just my bank, right?On the other hand it's centralized they have ultimate controll over my money they can freeze it or maybe run away. You know what i prefer to save my money on my bedroom instead of saving them out there, maybe if i had lot of money i will consider it.
I personally do not like how banks have accounts that can't even beat inflation for most instances, and I don't like how they have overreaching and frankly very annoying policies put on them by governments which heavily regulate what they are allowed to let customers do.
I've always wondered if the "limit cash withdrawals to $x amount" and whatever caveats that go along with them is a means of preventing bank runs rather than anything.
I've always wondered if the "limit cash withdrawals to $x amount" and whatever caveats that go along with them is a means of preventing bank runs rather than anything.
A bank can close withdrawals at anytime, like what happened in Greece a while ago. People could withdraw a maximum of 30 EUR per day.
We dont need banks that why we choose yo have bitcoins. If the OP idea is to have bitcoin bank all controlled by govt. , then there is no point of having a de-centralized system of bitcoins.
Before anything else, I am not a pro or con bank. I am at the middle.
Banks have their purposes and one of those is to help the economy and the people. With every deposit a percentage will be used for investment or whatever. That greatly helps some people in need as well as the economy as a whole. However, banks have poor security. They are fooled by identity theft, breakdown of main server freezes all transactions. When the bank becomes bankrupt, only a portion of your asset/money will be returned to you especially to those who have millions in their account.
Banks have their purposes and one of those is to help the economy and the people. With every deposit a percentage will be used for investment or whatever. That greatly helps some people in need as well as the economy as a whole. However, banks have poor security. They are fooled by identity theft, breakdown of main server freezes all transactions. When the bank becomes bankrupt, only a portion of your asset/money will be returned to you especially to those who have millions in their account.
Everyone has a gripe on bank specially credit cards that has a lot of hidden fees, ATM machines going offline when you needed them most and most specially debt you can incurred. Worst case is banks closing without your knowledge and then the cat and mouse begins on where and when to get your money back (FDIC). We are all victims once time or another by banks.
For me that is fine because the issue is not always in a certain establishment but rather the users. Banks has a lot or perks although i would prefer online wallets than actually in banks. Those 2 can have a good security but wallets addess has much better security protocols. WE just need to educate ourselves better so that we can actually use banks also a trustable account manager.
Everyone has a gripe on bank specially credit cards that has a lot of hidden fees, ATM machines going offline when you needed them most and most specially debt you can incurred. Worst case is banks closing without your knowledge and then the cat and mouse begins on where and when to get your money back (FDIC). We are all victims once time or another by banks.
i don't like banks becuase Banks will always take advantage of your finances in the field of capital and the pieces are very unpleasant. 
Banks create money out of nothing. The money that they create is now not based on gold or another scarce asset - it's only based on non-existent money that was created before it. The money's creation is very poorly regulated.
You should try watching the documentary Money Is Debt (revised).
Furthermore, banks are seldom insured for more than a hundred thousand dollars or so in your local currency. At any point they could prevent withdrawals to avoid a run on the bank.
You should try watching the documentary Money Is Debt (revised).
Furthermore, banks are seldom insured for more than a hundred thousand dollars or so in your local currency. At any point they could prevent withdrawals to avoid a run on the bank.
First of all I don't like banks becaise I think they have caused every financial crisis on this earth. They always run only for profit and don't care about the concequences and what will hapenn next. They charge too much for their services and they are often dishonest to their clients. At least this is the situation in my country. And that is why the Bitcoin is alternative.
What I don't like in a bank is that bank can really access your account, they can detect your assets (cash) and that is what I hate most, I want to have some privacy with my account, even a simple employee at the bank can know how much you have in your account. And of course, worst thing is that bank really have low interest rates which cannot give a justice of staying your money with them. You are just like saving in your wallet.
Well if you want me to compare with bitcoin , bank can't send money to everywhere but bitcoin able to send everywhere
Bank also charge monthly fee for keeping but bitcoin provide cheaper fee than fiat which is my advantage to open my online shop for more profit !
Bank also charge monthly fee for keeping but bitcoin provide cheaper fee than fiat which is my advantage to open my online shop for more profit !
I hate the fact they add fees on everything.
Where do you bank? Where I'm at in the UK banking is free and near instant transfers are free too. Elsewhere in the EU you can do intra EU transfers that are almost as fast that cost very little.
I hate the fact they add fees on everything.
Coming to what I like about Banks..
The best thing I can mention is indeed 'loan and debts'. One can finance expensive things which is usually not in his reach with bank loans. Moreover, interest rates as charged by banks are more or less within consumers reach. Most of the time, banks are cheapest mean of raising funds.
Now coming to what I not at all like about Banks..
The worst thing I can mention is indeed 'loan and debts'. From point of view of customers, banks generally manipulate customers due to their ignorance as well as own their commodity through 'hire purchases'. Most of the times, customers are not real owner of commodity until they pay off debts. While from the view of banks, usually big house as well as minor borrowers turn NPA thus contributing to the loss of national wealth.
The best thing I can mention is indeed 'loan and debts'. One can finance expensive things which is usually not in his reach with bank loans. Moreover, interest rates as charged by banks are more or less within consumers reach. Most of the time, banks are cheapest mean of raising funds.
Now coming to what I not at all like about Banks..
The worst thing I can mention is indeed 'loan and debts'. From point of view of customers, banks generally manipulate customers due to their ignorance as well as own their commodity through 'hire purchases'. Most of the times, customers are not real owner of commodity until they pay off debts. While from the view of banks, usually big house as well as minor borrowers turn NPA thus contributing to the loss of national wealth.
The funny thing about what you are saying is that I agree with you and I really really disagree with you at the same time.
I agree with you about everything stated above in that people will inevitably need to borrow money at some point in time, which can act as a double edged sword. But I feel as if you are missing the point. The "root of all evil" in terms of Banks controlling your money is not the Banks you go to locally and get a loan from; but the Banks who actually control your money, the centralized banks are the root cause for everything bad about Banks and "money" as the general population knows it. Inflation is the shit that will keep us wage slaves for eternity... they will never want Bitcoin to be used because it is more sound and backed by a known limit/scarcity like gold.
Anyone that works at the bank can see all your account information. Monthly fees, atm fees, overdraft fees. Banks suck!
IN somehow, banks still help people to maintain their money and they can trust the bank 75% that they will never lose your money. Jump to: