Bitcoin Forum

what are you thinking  ???

Voted more secured, but really it is nothing like a bank account, the difference between Bitcoin and a bank is that your computer is the bank and all the miners people use are the regulators. The software just doesn't discriminate against people based on what they're doing the same way a banking system does and that's why banks and governments hate it so much.

You can't persecute numbers and letters which is really all Bitcoin is in the end but that's what makes it such a good currency.

Bitcoin is OP

The Swiss banks do actually know the names of the account holders - contrary to popular belief - it just shows a number on the bank transactions instead of a name is all.

Bitcoin is actually a pretty poor anonymous currency as the ledger and transactions can be followed and many times the end point will show who the user is.

I think you mean 'Dash' or 'Monero' for super-secret criminal money.

best answer

Dash & Monero are alt-coins. I don't think about them. privacy protection in BTC is really needed to upgrade ...

last option feels the more correct, and 1 of the reason for this is because you can't print bitcoin from nothing like bank can do with their fiat, also consensus isn't centralized like in the bank

one thing that i really like about bitcoin which make it vastly different from any bank, is that you have full control over your money, there isn't something like, all the excuses that bank has some times, to not let you withdraw your money for example

It's more secured method to hold your money without too much devaluation.

Not really! The normal ppl ignore the importance of backing up the wallet and don't know proper ways to keep his private key safe and end up losing money! Once you get hacked, you will never get back the money! The banks is different and your deposited fund is secured!

Swiss bank account holders can make transactions without any publicly available way to track them. All Bitcoin transactions can be tracked by the general public unless you start using mixers or other laundering techniques. If using mixers the first transaction sending your Bitcoins to a mixer is publicly available, so it's obvious when you made a withdrawal and how much for.

This is the trade off for now, and maybe one of the biggest problems to wide adoption.  Here is a case where using a good secure online wallet will be better than using your own computer.  Just because of GOX does not mean all online storage is doomed.  Wasn't there an exchange that got hacked, that covered its users losses on the hack?  Which one was that again I forgot.  But anyway that is a good sign that they are taking security seriously, if they are willing to cover hacks.

But for the vote the obvious answer is obvious.  It is just like any money , and it can be used for illegal things but it doesn't mean that normal people will somehow all of a sudden start selling drugs and using prostitutes just because they have bitcoins lol.

Bitcoin is not an effective medium to keep black money. The exchange rates are too volatile, for it to be used for storing black money. If I had black money with me, I'll hold them in fiat currencies such as USD or CHF, or in the form of treasury bonds from low-risk nations such as the United States or Canada. Investing in Bullion, Real Estate, Equities and Mutual Funds are also OK. But keeping the illicit wealth in the form of Bitcoin is too risky.

BTCitcoin is more than just a currency in my point of view the last one option is more attractive for this, the current banking system is not secured and much expensive way of transaction with very poor speed but on other side bitcoin is truly decentralized system and more secured way to keep to your savings safe for bright future. 

Yeah and the Privacy attached to bitcoins makes it more attractive and popular as nobody is aware that who is transacting and your identity is also not disclosed So it is better then a traditional banking system for sure and  the transaction fees are too low as compared to the banking system.

Bitcoin can be used for anything, good or bad. Same with fiat. Bitcoin is not responsible for what the users choose to do with it.

This can never happen unless you publicly disclose your identity and bitcoin address

Last one! Why do people have to demonize BTC just because there are people out there that take advantage of the "anonymity"?
Yes, you can buy Cocaine with them but you can also buy MANY other things that are legal. I'm trying to get the company I work for to except them but the owner seems to think he would end up in jail...It's the media attention from the black markets. BTC is not "black money" but is sure seems that it has a dark future.

2nd and fifth option. I voted the second. Bitcoin is obviously more secure than any offering a bank can have. But the same applied for "white" money. It's not because it's black that it's going to be more secure...

When customer data is leaking out of swiss banks, Bitcoin is obviously more secure, no question about that. It's also a much better and much different option to conventional banking.

my vote is for the last option, i love the way that we can control everything related to our money BTC, not like the fiat money with all those expensives taxes+fee who manage "someone", also BTC is not printed like "magic" ;)

I voted for last option bitcoin is more secured than Swiss Bank account because it is decentralized most advanced crypto currency with unique privacy option and has less chance to be traced compared to current banking system, bitcoin is the future of crypto currency so that is better option to keep safe your money with privacy and freedom. 

No it is not , in my opinion bitcoin is more than a swiss banc acc used for holding 'black money'. Btc is not only money, it is a concept - idea to transfer value from point-A to point-B with the simple way in the world; but if you think it is only a way for store and hide money,you are free to think this thing.

What does color have to do with this?

These options are necessarily mutually exclusive and collectively exhaustive, I voted for less secure. Obviously a lot of people voted for BTC is decentralized and different, which is probably the most accurate answer. The thing about banks is that if there's fraud that goes on at the bank one can get their money back. If there's fraud at Mt Gox or some other institution anyone who has the wallet with them is f**ked.

Absolutely not, I voted for the 5th option, it's just a decentralized currency giving people a simple secure way of keeping their own money without having to rely on banking system who charge people to do just that. I just sent some money to someone sitting 1000s of miles away without the help of anybody and it only cost me less than 5 cents.

Not at all...!! bitcoin is legal

Bitcoin is legal .... it's 100% true ....

Swiss bank accounts are only for the rich and powerful, generally have $10,000 minimum, and you need to be able to afford to fly out to Switzerland every so often.
Bitcoin will do much more to raise up the poor of the world than people like I've described above.

No, its not

Dollars in a Swiss account also tend to lose value over time.
Bitcoin doesn't.

Even in a Swiss bank, some disgruntled employee could steal your account details and make them public.
Not so with Bitcoin.  :)

Bitcoins are here to destroy banks and banking systems, at least that's what's IMHO...
So, it's truly unfair to compare Bitcoins with banks in any case...

well, bitcoin is nothing like a bank account , when you have your money in bitcoin it truly is in your control not in anybody else's hands. while money in the bank can be controlled by the government , exactly like what is currently happening in Greece.

and as for security , bitcoin wallet can be as secure as a bank vault and created in a way that nobody can crack it open. so in case of security i think they can be the same since for securing bitcoin you have to rely on your own the level of security is going to differ person to person.

I think it depends on your intentions.  If your intentions is to hide money yes it could be considered to be like a Swiss bank.

As far as being anonymous BTC is better in my mind at this point.  Swiss accounts are not what they once were.

I think most reasons for a swiss account are possibly unethical.  Bitcoin has good uses aswell. 

So they could be the same just depends on your use.

How do you raise up the poor with another currency only distributed among the rich?

People can hide money lots of different ways, cash, precious metals, put it into diamonds, etc.  I dont like how the media makes btc out to be some sort of thing used primarily by criminals to hide money.  If anything it a lot riskier to use btc to hide "black money" becasue some researchers have proven there are ways to track btc/wallets.

bitcoin is a great way of storing part of your money in to be independent of the banking system but i won't call it a place for holding black money.

because you can see a lot of people using bitcoin and not even thinking about doing anything black! :) or illegal , and if the minority of people used it that way it doesn't make it so.