Why I hate Banks and love Bitcoin :-> - page 4.

lalacoin

newbie

Activity: 8

Merit: 0

Quote from: Kakmakr on June 03, 2019, 01:52:58 AM

I pay for my monthly satellite TV subscription with a bank transfer and for some obscure reason I forgot to pay it this month. I was still watching the World cup Cricket tournament, when a message popped up, saying that my account was in the arrears and they blocked my viewing.

I immediately logged into my internet Banking and checked my payment history and realized that I skipped that payment for some reason, so I made the payment and thought I would wait for a hour or two and then resume viewing. Noooot!

8 HOURS passed, I phoned the company and they informed me that the payment is not reflected on their system yet, so I waited another 4 hours and phoned them again.

A whole 21 hours later the payment went through and I could continue viewing, but the match I wanted to see was finished. Angry

If I paid with Bitcoin, this same payment would have taken less than 20 minutes at most, but unfortunately this Satelite provider does not accept Bitcoin payment for this service. Angry

Disadvantage of the centralized system. We will get there soon.

denasha92

member

Activity: 616

Merit: 10

Quote from: Vishnu.Reang on June 27, 2019, 10:08:56 PM

No one loves the banks or the bankers. These people suck the lifeblood out of the hard working people and whenever they lose money due to their stupidity, the government steps in to reimburse the losses by spending the tax money. Here in India, the banks have been increasing charges for every small thing, including ATM withdrawals and issuing cheque books.

the bank is a service company, so the slightest service rendered will be charged in order to increase fee-based income to them that they will use to cover the cost of issuance such as paying employees and other expenses. I think the banks will be disturbed and worried by the presence of bitcoin that can damage the market of their electronic money

PowerSaev

newbie

Activity: 1

Merit: 0

Good story things are going to have drastic changes within the next 25 years.

shulc7

full member

Activity: 518

Merit: 100

Quote from: bright4mech on June 27, 2019, 07:34:19 PM

We are now in the world of technology, on like back 90s, base on the current banking system, no enough percent interest to compared Bitcoin, because BTC has more interest when trading or invasting towards the industrial, Therefore i hate bank, and they is no future value in dopping your money in the bank.

I will be not so strict with banks. They are needed as they proved their efficiency. Governments support them, so our money is protected. Cryptocurrencies are a great risk, although you can get here the better profit.

cipherhut

newbie

Activity: 99

Merit: 0

Network error can occur in both payments but yes Banks server and Bitcoin servers are different and also Bitcoin has free global access where Banks gets restricted outside the border.

denzkilim

full member

Activity: 1218

Merit: 105

Quote from: Astvile on June 03, 2019, 01:59:49 AM

This is why bitcoin would help us alot if just the government will adopt it as payment method for every available services.
Bank and wire transfers takes 1-3 days of processing and when the transaction is done you still need to wait for few hours for the service the back lol.While in bitcoin the longest time you need to wait for a transaction to be confirmed is just about an hour.

Bitcoin is definitely a game changer in terms of speed and process of transactions but unfortunately, it will be hard for it to be accepted as a means of payment without any third party that will facilitate it because we know that Bitcoin is decentralized and with decentralization comes the fact that it is very volatile and its price continuously fluctuates, this kind of payment method is nightmare for merchants but I do hope that someday there will be some kind of solution to these issues. Cool

Vishnu.Reang

sr. member

Activity: 1974

Merit: 453

No one loves the banks or the bankers. These people suck the lifeblood out of the hard working people and whenever they lose money due to their stupidity, the government steps in to reimburse the losses by spending the tax money. Here in India, the banks have been increasing charges for every small thing, including ATM withdrawals and issuing cheque books.

minersday

hero member

Activity: 1484

Merit: 535

Due to the centralized nature of the entire banking ecosystem, transactions are needed to be verified manually by the central bodies controlling the movement of funds. With blockchain technology and Bitcoin, transactions are peer to peer making it easier and simple for confirmation of any transactions made on the network within verification by an external body. Bitcoin and cryptocurrencies make the world look smaller and connected.

jademaxsuy

full member

Activity: 924

Merit: 220

Yes, I do love too having bitcoin and a platform that accepts btc payment likes bills and load.This is one of the reason that a decentralized currency should also be promulgated for it is effective system.

Viscore

hero member

Activity: 3038

Merit: 647

Quote from: Karlinz on June 27, 2019, 05:36:10 PM

Bitcoin is preferable to the bank due to a number of reasons, aside the ease of payment associated with it, it is an asset that has a very huge potential being that it can grow to and yield profit unlike banks that will reduce someone's fund in the name of Bank charges

Yes. People will mostly love bitcoin over banks because they can make good income from bitcoin and makes their capital grow even more while banks tend to lessen your savings in a bank due to payment charges that they are asking from their clients. And when it comes to money transactions, there is more efficiency and accuracy in bitcoin compared to banks.

bright4mech

member

Activity: 588

Merit: 18

We are now in the world of technology, on like back 90s, base on the current banking system, no enough percent interest to compared Bitcoin, because BTC has more interest when trading or invasting towards the industrial, Therefore i hate bank, and they is no future value in dopping your money in the bank.

Mrengage

member

Activity: 420

Merit: 12

Globe-dex.com

If you ask me I will say not every country accepted Bitcoin right from time. Which we have seen how the regulation was like in time and how it affected the market. Till now I still believe on bitcoin banks we know it's against it, rather I will say let's keep holding and believe on bitcoin for it is the future.

Karlinz

copper member

Activity: 280

Merit: 1

Bitcoin is preferable to the bank due to a number of reasons, aside the ease of payment associated with it, it is an asset that has a very huge potential being that it can grow to and yield profit unlike banks that will reduce someone's fund in the name of Bank charges

pixie85

hero member

Activity: 2170

Merit: 528

I wouldn't say that I hate them but I don't trust them. My parents used to keep money in the bank and after a while they found out their money is worth much less because the inflation was barely covered by interest rates and at the same time prices of goods were going up.
Holding fiat money is pointless. People do it because they are scared that they will later need money but it's always better to have some real estate or gold. Banks are cheating you by making you think that they are safe and don't lose value over time.

bitcoindusts

sr. member

Activity: 1050

Merit: 269

Quote from: Kakmakr on June 03, 2019, 02:18:43 AM

A lot of people would have said, "Use your credit card" because it would have been much faster, but I prefer not to use credit cards to pay for things, because I hate adding to the debt problems of this country.

I also did not anticipate that it would take this long, because I pay this before the payment date every month and my viewing has never been blocked before.

The problem is, Bank transfers between different Banks sometimes takes between 12 to 48 hours and in todays world, this is unacceptable. Angry

Sometimes its not just the banks that are problems, bank transfer delays plus poor services companies offer. The length of time it takes I think varies with different countries but sometimes even if you paid already and payment been confirmed, you call the company to reconnect your subscription and would take hours too for them to do the action. Like when my home internet connection was interrupted, my call couldn’t be accommodated because the queue was much so I had to wait for them to call back, and it took them 6 hours to call back too and fix the problem. Indeed disgusting.

clair508

jr. member

Activity: 136

Merit: 1

Quote from: Kakmakr on June 03, 2019, 01:52:58 AM

I pay for my monthly satellite TV subscription with a bank transfer and for some obscure reason I forgot to pay it this month. I was still watching the World cup Cricket tournament, when a message popped up, saying that my account was in the arrears and they blocked my viewing.

I immediately logged into my internet Banking and checked my payment history and realized that I skipped that payment for some reason, so I made the payment and thought I would wait for a hour or two and then resume viewing. Noooot!

8 HOURS passed, I phoned the company and they informed me that the payment is not reflected on their system yet, so I waited another 4 hours and phoned them again.

A whole 21 hours later the payment went through and I could continue viewing, but the match I wanted to see was finished. Angry

If I paid with Bitcoin, this same payment would have taken less than 20 minutes at most, but unfortunately this Satelite provider does not accept Bitcoin payment for this service. Angry

Oh that's happening in here too.If some how got the services.We can't say when will they reconnect again even after the bill paid.Asking reference number,time of payment and many more.Its horrible.If your satellite provider does not accept Bitcoin payment as payment.Try an app who accept bitcoin and pay via that.(Most of the e-wallet apps supporting bitcoin) that's easy.Because banking payment systems are slower than any paying system.

Mahanton

hero member

Activity: 2730

Merit: 632

Quote from: Kakmakr on June 03, 2019, 01:52:58 AM

If I paid with Bitcoin, this same payment would have taken less than 20 minutes at most, but unfortunately this Satelite provider does not accept Bitcoin payment for this service. Angry

If the entire network is clogged up but what if the network do have bloated transactions?It wont confirm for a short period of time unless if
you do pay up for a high fee then it would really be more faster but I doubt that no one would willing to do that.

There are flaws on our current tx system but bitcoin adoption would still takes time for it to be implied.

Duzter

sr. member

Activity: 1092

Merit: 256

Leading Crypto Sports Betting & Casino Platform

Quote from: noormcs5 on June 27, 2019, 01:20:23 PM

Quote from: naufals4 on June 27, 2019, 07:33:25 AM

for me I also hate banks because sometimes the support provided by banks is very long sometimes up to 2 weeks is resolved in the event of an obstacle, unlike cryptocurrency when we store bitcoin or other cryptocurrency and there is a support for them quickly and cryptocurrency is better because it doesn't charged monthly.

Well, there is no reason to hate banks as we are using them for long time and will continue using them for a long time. Although after the invention of crypto, we find bank useless but we should not forget that in the current fiat system, banks has a important place. As long as fiat exists, banks will exist too.

Mistakes will happen everywhere, banks weren't an exception. What Op experienced using the banking for different needs and the service has got delayed. Same could happen with bitcoin or other cryptocurrencies as well, for the same finding an alternate solution is the right thing. As in the quote, banking system is the key factor for such a perfect money management and if there isn't any banks into existence we couldn't have got cryptocurrencies for usage.

Dixbless

jr. member

Activity: 40

Merit: 10

When I read this I remember Pomp from twitter ha.

noormcs5

hero member

Activity: 2758

Merit: 617

Leading Crypto Sports Betting & Casino Platform

Quote from: naufals4 on June 27, 2019, 07:33:25 AM

for me I also hate banks because sometimes the support provided by banks is very long sometimes up to 2 weeks is resolved in the event of an obstacle, unlike cryptocurrency when we store bitcoin or other cryptocurrency and there is a support for them quickly and cryptocurrency is better because it doesn't charged monthly.

Well, there is no reason to hate banks as we are using them for long time and will continue using them for a long time. Although after the invention of crypto, we find bank useless but we should not forget that in the current fiat system, banks has a important place. As long as fiat exists, banks will exist too.

Topic: Why I hate Banks and love Bitcoin :-> - page 4. (Read 9021 times)