Bitcoin Forum

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.

I also do not believe that traditional currencies will leave our lives, but I think that the cryptocurrency will be able to work with Fiat money on a level. I think I still need some time passed people to take bitcoin as a forum of payment.

Well, I understand your point of view but people are different. You should not impose your views and desires on everybody. There is nothing bad in the fact people do not want to use smart phones or anything. Of course, when their jobs or needs are related to these kinds of requirements it's necessary but anyway it's up to a person to decide if they want to be up-to-date or whichever.

And your point is? ;)

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.

Bitcoin want to replace the fiat, but the hindrance is just so obvious, and even some people believe it will remain to be niche to the very few tech savvy, what’s the point when it can’t replace fiat for the majority population.

When a banker want their clients to use their banking service, they would want their clients to know how to use it, first they will setup the account for them, and all the technical stuffs just like you’ve mentioned, and hand over the account which come with the accounting book to them, but it wouldn’t be the same for bitcoin, the banker couldn’t help their clients to create the bitcoin wallet, their clients security would be exposed to them, that’s the nature of bitcoin private key, and when they hand over the wallet to the clients, their clients’ account would have been compromised due to the private key being exposed to the guy who help them create a wallet. And nothing gonna change it because no one can help anyone to create their bitcoin wallet, which is why banker wouldn’t be able to help their clients when it come to bitcoin.

The banker was outspoken and i like his/her replies to you.

Firstly, most of those Bankers are not technologically oriented in this 21st century rather cling to the old time outdated technology without effect. Some of them are older than  my Mum and Dad but still yet work in the Bank with their 90's knowledge, those set of individuals will not and cannot comprehend the modern days TECH.

Secondly, Their clients (that is the customers) most at times will always like to see the Bankers with minor issues that borders on transaction problem or sometime network problems. Client in this regard will be the most difficult humans to handle if eventually Banks adopt bitcoin into the traditional system. Imagine when there is 3 confirmation on the blockchain and my grand pa saw 1 confirmation at first still waiting for the other confirmations to occur, believe me on this; that, he will call Satoshi phone number to lay his complain.

So how will they be able to handle such hand full of ignorant from the public if eventually the digital currency merge with the traditional system?

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. 

cash is not going to die, at least not in our lifetime but what does that have anything to do with bitcoin? bitcoin was not created to kill anything! besides who cares what the "bankers" think about bitcoin, it was not created for them to use. it was created so that people don't need them if they chose to spend their money. so that they have an alternative method that doesn't require these third party parasites that can only live because people need them.

don't worry in a couple of years they will have enough time to beg others to teach them how bitcoin works and beg people to come back as their business starts to fail and they start needing another bailout.

Actually technology is advancing at very fast pace, 20 years before I used to write and wait for letters. Now nobody write, we just call.
So most of the people who already crossed 40 years or did not embraced technology in last decade are worst hit by technology advancement.
As far Bitcoin wallet is concerned it is technical stuff and only interested people are using , nobody is getting any commercial/government pressure to adopt Bitcoin so they can choose to remain ignorant.

Talk about begging, I believe it is how the banker told me, need to create a wallet for them and hand it over to them, and when the time come to spending, again help to use the wallet for them, just like how the banker got to help every banking problem.


I remember when my grandma ask me about how to turn on the TV all the time, when it come to smart phone, they just move their rant from TV to smartphone, and they have the same gut to ask how to use the smart phone to call her friend, key in the number, turn off the smart phone after using it, I think it is improving to the worse, the only thing remain the same are they need all the help when it come to technology, and most of them will need help all the time, the rest of their life need help.


I don’t think it is about the problem with 90’ or 80’ or some problem with generation. Every generation will have few highly tech savvy and have the rest illetarated population. The same with the younger generation, the Millenials generation are not exception, even in the next 22 century, the same portion of people will be tech savvy and the rest just be illetarated, even in the next 23, 24, 25 it will be the same. Certainly in future people wouldn’t be getting smarter, the smart will remain smart, the illetarate will remain illetarate, no amount of time will fix it.

Tbh I don't think Bitcoin is that technical (for daily usage). While it's true it is required to have somewhat deeper knowledge to fully embrace the tech, to be able to use it regularly we don't have to do that. For example, to create an address, you don't have to understand how BIP32 works, they can simply open Electrum, generate a new address and so on.

This technical barrier is quite low tbh. We don't have to spend hours learning about it.

when you give information about bitcoin to the bank maybe some banks already know it and there are some banks in some countries that don't like it and really hate bitcoin even you can be charged with a crime for using illegal money, so you should be careful with bank person.

It could be true that they don't have time for now, because lot of people out there believed in banks. That's what your bankers holding on it, but when times were cryptocurrency can't be stop in the mass adoptions for sure in the end whether they like it or not they will give time to know about bitcoin and blockchain technology. Because creating your own wallet in bitcoin actually is just an easy things to do it honestly speaking.

I think the biggest problem is about the advantages of bitcoin Vs the interest of people. Look at gold for example, if you went to a bank where everyone at this bank had never heard of gold and you showed these guys what gold and what are their advantages, they would research about gold and they would use because they would realize their advantage. So this should happen with bitcoin, people need to see the advantages of having bitcoin, if they see that bitcoin is advantageous to them, then they will buy bitcoin.

What im taking from this is that banker doesnt care about bitcoin,
If they wanted to get into it they would already be invested.
As mentioned above he doesnt need to know the technology to
be able to download, install and load a wallet.

This is a strange post.

I think that now is just not the time for cryptocurrency. I believe that it will be used by almost everyone in the future, but so far it is difficult to talk about it. Perhaps it would be right if bankers begin to explain their customers the basics of using digital money and perhaps more people will be interested in it.

Hello,

Fiat and crypto are complementary, soon or later banks will need to jump in the train, they just delay this moment with blinding eyes but they will not be able to continu in order to also catch the potential of this new market.

I think there's definitely some truth to it, just because kids these days grow up with phones in their hands, it doesn't mean that they are sufficiently tech literate, especially in something like cybersecurity or cryptography. And sadly, using Bitcoin requires a lot of knowledge, even if it seems that you just have to install a wallet, back it up and start sending bitcoins left and right.

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

Traditional currency will never end its usage. Bitcoin has been serving the common people with its evolutionary technology, and I can't believe that a banker found it difficult to create a bitcoin wallet. Because, right now we've got more bitcoin wallets and those wallets were very user friendly in terms of accessibility. Another thing not every banking sector is against bitcoin, at present there are banks that has developed their own cryptocurrency using the blockchain technology.

I think this is more about the generalizing based on your own personal experience with your banker. The point is, the quest for knowledge is based on the individual ready to go beyond the normal in acquiring the right amount of information. The crypto community is made up individuals in every field. Lawyers, accountant, software engineers but truth be told, we will still have people in those professions that have either not heard about crypto before or they have heard but have formed an opinion about it without taking their time to acquire the right info.

Cash won't leave us at least not totally and there is no point exaggerating what is likely not possible.

Creating bank accounts is quiet easy due to faithful assistance of banks employees. It won't be hard most specially if you can read and write. Your  understanding and comprehension matter to keep your banking secure. People can give you choices and opinion about some of crypto but with your permission they can move into another level to create your crypto accounts and whatever. Don't easily trust it would be good to ask few important questions.

you didn't told your banker that bitcoin is 10 years old already.

its fairly new but its old enough that they should start learning before they'd be left behind  like the old man maniac who just learned he can watch free porn on the internet.  
i don't however believe fiat is going to disappear in quickly but maybe 10 - 20 years later.

Well if you ask a banker about bitcoin , his instincts will be to defend the banks and make a bad impresion about bitcoin because in his mind he's afraid that banks will loose to bitcoin at some point and guess what , he may be right. I don't say bitcoin will collapse banks but for sure it will implement some new rules among monetary systems along the world.

"My car dealer told me that people will always use cars". Any resemblance?

Of course the banker will tell you that people will always use their services, for whatever reasons. They may be right or not, but it doesn't matter. Their opinion is not impartial.
Bitcoin indeed is not a threat for them in the next years. How many? It depends on far too many factors. But never say never.

some of my friends have experienced it like that, they from the bank gave questions about activities that customers did so they could get that much money and my friends told me about bitcoin, after that my friend could not save money in that bank because he was accused of laundering money with bitcoin.

Well that is quite obvious isn't it because  bitcoin or lets say cryptocurrency, in general,  is an open source community and people have to make some effort to learn about what it is.
Only then will people understand the benefits about it. Bankers do their job and get paid for it while cryptocurrency enthusiasts make their own profits through cryptocurrency.
I believe both are better in their own way and both has to survive on it's own. Only thing that differ is the technology behind it and that is what matters.
The future is all about technology.

Again, fiat and bitcoin are not same.

Bitcoin is investment tool but it has the advantage as same as fiat so when you're talking with the banker, you're just offering gold over fiat to replace their transaction !

It's funny but I also had similar experience.
When I tried to explain bitcoin and crypto to my friends they was very skeptic.
If some of them showed interest they will later give up after learning what they need to learn and do in order to use crypto.
People wants everything in easy way, don't have desire to make any effort.
I even talked with some friends in financial industry but received the same reaction.

This is in fact an issue that I have seen myself, we think that the current generation is very tech savvy but that is not true besides using social media and using google they do not really understand how their smart phones can be used so they can get the maximum benefit out of them, in fact I had to help several friends when they wanted to enable online banking on their smart phone so unless they are really forced to adopt bitcoin I do not see the current generation being capable of adopting bitcoin in a seamless way.

This is a solid example that we experience very often. People older than 30s are not willing to join or invest which is called high tech. They mostly don't understand these things and they don't want to trust something they don't know. Bitcoin supporters and investors must spend special effort to make thme understand what crypto currencies offer.

Banker is also human. At least they can also be interested in Bitcoin to keep up with the times. And naturally they are too busy to take care of many people, because every day there are new customers who make ATM accounts. In this case, you only need to continue to teach them in your free time and banker's free time to learn Bitcoin and how to use it.

Hmm lets see:

• Install Electrum (https://electrum.org/)
• 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...

You are on point when you said that with bitcoin, you don't get the kind of personal customer service as fiat banking does. Just consider making a mistake and transferring bitcoin to a wrong address?  How can the bank help you, or how can the exchange help you?
These are strong issues that will keep fiat and banking for a longer time with us.

I think you need to teach your bankers about bitcoin and tells him that every of his client needs to know about bitcoin and they need to have a wallet to save their bitcoin. At least, they know how to make a transaction, and it's a simple process because that is the basis of learning bitcoin ever for every people.

The younger people in the age 20-30s, should aware of the new technology and I think they want to learn about bitcoin because they are too curious to find out about something new. I am sure that they want to know more about bitcoin, especially they can have a new way to make money from bitcoin. You can tell your bankers that if he wants, you can give some lesson about bitcoin and you can gather your bankers with his client, and I think it will help the adoption process in bitcoin.

Of course majority of people even younger generation don't possess even considerable level of Information technology knowledge so to use bitcoin wallets by them self means nearly impossible and that is why majority of people don't even try to see what’s going in the digital currency world but for that to change there should be something to guide them like Banks and other financial institution does for their clients

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

They are not interested with crypto I guess, they have stick with their normal transaction and they do not consider crypto will disrupt this world.
People who sees the potential are only those who have also invested on it, and I think if crypto is going to be a success and adoption will skyrocket then maybe that will only be the time that they will be interested.

They will adopt with crypto but they still have the power to integrate crypto to their system and of course they will be willing to learn because they will benefit.

I think it is normal if someone don't know about something, not interested with it. Maybe it is happen to us before we know bitcoin yet. And then after we know benefit of bitcoin, we want to share it to everyone that we know. It's normally, but maybe it is better to let them know about bitcoin by themself first.

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

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.



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.


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

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.

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.

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

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 ::).

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.

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.

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

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.

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.

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...

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.

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 .

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.

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.

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...

https://upload.wikimedia.org/wikipedia/commons/3/30/Whitney_Bank_New_Orleans_Check_1905.jpg

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.

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

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.



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.

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.

creating a bank account = submission over the rule of the banks owners and founders

using a bitcoin wallet = submission over the rule of the bitcoin whales, bitcoin miners, its founders and the cryptomedia owners.

its actually not different at all. its basically the same crap both of them.

with "our money" or "our financial system" they mean the founders not the generation they want to scam.

It could be true, but as long as they can hide their activity in the cryptocurrency and never told other people even from their business colleague, it will not be a problem to them. I think the bankers will interest with the cryptocurrency because crypto got a boom in 2017-2018 and I am sure they will find out what is going on in the cryptocurrency world. And as human, I think it's natural if finally, they are joined in cryptocurrency because they can find a new payment system which they never saw before.

I guess people in Venezuela have enough time to learn how to create a bitcoin account.
On the contrast, people who live in countries with a stable financial system will take a very long time to realize that using bitcoin is important.

FIAT currency and the current banking system is pretty obsolete but because the Banks and Governments, Big corporations and Whales have the clout and money, they are able to control and influence us in more ways than we can ever imagine. Like for example on the TV and in other media outlets, you will get a ton of banks advertisign their services but you won't get your JOE BLOGS watchign an ad about a Bitcoin wallet on prime time TV. People ar elike sheep they follow what they are told and pursuasive advertising is there to brainwash people into stickign with the status quo and only finding acceptable what they are being presented with by these very powerful bodies. The Banks are not just going to walk away from day trading our money and making billions from it.  ::)

If they want to learn how Bitcoin works in the next few years, I think it's too late, because in the next few years the price of Bitcoin will grow and grow countless and I'm sure everyone will certainly ignore it to teach them how Bitcoin works.

You are  right . allot of people are busy making  money  but they dont have time to lean about how to keep their money safe ..  in my country  Telecommunication companies is running something  call mobile money  .. i can tell you 90 percent of mobile users in Ghana are now having mobile money wallet .  but 30 percent of people having mobile money wallet dont know how to used mobile money  all they do is hand over their  phone to Merchant agent review their secret pin code to them when ever they want to do transaction .. and i can tell you mobile money is talking over banking sector  in our country  . so you have to bare in mind that no matter what every one  can never know how to create bitcoin wallet . When crypto  become accepted where is always going have a way for people to used bitcoin all the world ..     

No matter how big crypto will be, Fiat won't die, not a lot of people understand about crypto, because of the unclear regulations a lot of people hesitate to introduce crypto in a huge scale, and there are people that refuse the idea of Bitcoin,so we can't force them to used or understand about crypto

I don't have banker friends, but the acquaintances I knew of were very much entrenched in the "traditional" banking and finance systems. I actually only know them because of my recent (is 2016 still recent) living and working circumstances but they're accountants, tax experts, financial compliance specialists... so to speak.

The difference with them was: willing to spend a lot of time learning about Bitcoin. But other than that, same sort of responses like your banker friends:
- they prefer custodial services. They can't be arsed to learn to use a Bitcoin client. Using it is a fantasy for nerds.
- they don't think cash will die. Bitcoin will be big, but they see it (or saw it hahaha) as a cash cow.
- they also sell on Bitcoin to clients, but in fact manage accounts for clients. They and they clients have never actually used Bitcoin, signed anything, broadcast a tx, nothing. They never intend to.
- Because Ripple will be the thing everyone uses, not Bitcoin, which will get replaced.

But you're not surprised by this I hope? Know the banker, know the responses.

And that's why I think all this institutional interest leading to mainstream adoption is not true.

I am sure that cash will be able to survive even though i am a pro crypto, cash is there for many years and taking it down will not be as easy as what we think. Crypto is still a technology thing and i am not surprise that, there is still a vast majority of people is still not a crypto ready person even with a smartphone.

To us that is not hard but you are not taking into account that not everyone has the same knowledge and experience with technology and you are forgetting that during many of those steps mistake can be made.

For example:

When trying to download electrum people could do it from another site and lose their money.
They could lose their 12 word seed.
They could forget the pin on their phone.
They could send their money to the wrong address or be victims of a virus which replaces the address with the address of a hacker.

some of us are already accustomed to smart phones and are accustomed to transacting without face to face, but some people who still use telephones when these transactions are not face-to-face are very difficult for them to believe, because they are not familiar. this still takes time and we cannot force it.

It's no doubt we are after a human being who depend on symbiosis relationship to survive the other day, to survive we need to extract any values from the other folk, and money become a good medium to transfer value from you to me, but once the values are completely extracted like what we have today that 99% of money belong to the richest, or equally to 99% of all your value are extracted, force to survive with 1% value for the rest of the life, it's when symbiosis relation become inequality, it become a predatory relationship, and revolution will be followed to destroy that predatory relationship between human being. And I believe bitcoin are the key to the revolution.


I have no idea the situation in the Venezuela, but I believe very few of them are tech savvy too.

Rent seeking behavior has been practiced since the beginning of the civilization. It is no doubt the bank play a major role in making it a success. I have always think about one article from the other author, it is describing as the bitcoin success will lead us into the negative  economy growth, the medieval age, and even fear mongering of the collapse of economy will lead us back to cowboy age, and followed by a number of terrifying stats about the life of the cowboy age, Im wondering if the economy are usually driven by technology innovation, could bitcoin and its mining rigs, products not consider to be a tech that could contribute to the economy?

Hmm... so you're going to put money under the mattress? People do not have many options, their salaries go to bank accounts, governments limit a certain amount of money that will be allowed for each citizen to circulate with them. Imagine that you want to buy a house of 1 million dollars? You'll pay with Bank check, that means you have more than one million dollars in a bank. We're hostages of banks . But cryptos are still a long way from replacing banks.


this is the most important thing


This is My country and where I live

http://2.bp.blogspot.com/-glLC3d3W4pI/UIVIjZm-4cI/AAAAAAAAEdU/Vdayjb76m2w/s400/IMG_6500.JPG

this merchant would not be able to accept bitcoin as a means of payment. this is another example

Those types of merchants abound in my country and guess what, thanks to the magic of hyperinflation, most have to own a debit card reader, usually the mobile variation. Last year our physical currency went down to 1% of the total circulating, because the regime in its infinite wisdom. not only made money out of nowhere, they made it digitally only (added zeroes to the State bank accounts, so they could keep paying wages, etc after running out of money).

https://p.globalsources.com/IMAGES/PDT/BIG/225/B0692739225.jpg

These things aren't exactly cheap, they cost about the same as a smartphone.
Often the merchants share one among many, so there is usually an additional table just for paying, as this process isn't instant since the device needs to dial up, connect to the bank, do the tx and show/print the result and hang up. For Every Single Customer. Yet we are used to it, and so could you.

Transacting with Bitcoin isn't much different to the debit card routine.

This is one of what I am talking about here in the past.

It is about the rural places.
I have been in many places just on vacation and I find it hard to see that they are using a modern technology payments.
They always live with paper money or pennies. They dont even have bank accounts or any plastic cards that will be possible for withdrawal.
No savings. Just a small bag where they keep their money.

Yes, it will take a long time. But I really want it to at least crawl to those places. Even if just gossips.

That will be okay if he decides to get involved in the cryptocurrency by secretly. He doesn't have to tells other people about crypto, and it's better he collects as much money as he can from cryptocurrency, and when the crypto can become more popular, then that is his time to tells to his friends about cryptocurrency. I am sure that there are people that do what your bankers did while they are working on the government and afraid to get fired from his jobs.

Everything new is always difficult to move among the masses of people. But humanity is still evolving, and instead of laziness and technical ignorance comes the dawn of technology. After more active, the rest will continue to enter bitcoins. At various times, such giants as WordPress, Microsoft, Reddit, Expedia and Wikipedia, announced the possibility of payment for goods and services. they will accept bitcoins as a means of payment - Dell electronics maker, PayPal payment system, eBay online stores, Amazon, AirBaltic and Time publishing company. The ice broke.

The example you mentioned shows us very important facts
First, we have a lot of work to do to spread the idea, and we must do our utmost and succeed.
Second, BTC will invade every place and even its first competitor, namely banks.
Thirdly, we must convince bankers and other people who are fearful of BTC that
BTC Not a threat to their business
  and that everyone can work and achieve their goals.

Regular bank employees i'm sure wouldn't mind dealing in crypto. It's even likely that they understand more about it than most new investors. Though yeah i don't think banks would allow anything crypto related onsite.

there are many bankers who understand bitcoin, but are still in the stage of personal ability. some are still struggling to learn because they are too busy with endless bank routines, non-stock regulations also make them dare not mix them with the fiat system.

But after asking with some of them, they really understood but did not dare to express it vulgarly.

Everyone see what suits them most.

You're banker is super wrong. For example in Poland there is a coalition of banks using DLT on already working system for instant payments - called BLIK. It's already working in most shops where you just press one button you gen 6 digit code, than cashier puts it in on their POS and you jest click again to accept payment.

It is partially true that not many people use Technology up to their fullest, but I am not saying virtual currencies will take over the physical currencies tomorrow. But I am saying it will take some time but that will happen to imagine our next generation that means our children's are going to be tech savvy and nobody can deny that because we can already see how they react to the technology they cannot live without Technology so it is clear that they will face the real problem with the money and Bitcoin difference. At that point, banks will face problems and still, it will take like 200 to 300 years for the banking system to an extent.

Go back and tell your banker that in 2 to 3 years, the number of the young people trooping in to the banking halls simply to open a bank account will greatly diminish. Bitcoin and cryptocurrency are gradually gaining attention worldwide, and soon the smartphones may start creating inbuilt apps to directly support blockchain wallets.

That's right. As long as they can get more money from another source, they will happy to do that. I am sure that some regular bank employees are aware of cryptocurrency and decide to join in crypto because they know much things about the finance and they can think and open mind with something new related with technology.

Fiat and crypto can go alongside. We've been used to do traditional way of transaction, but little did we know that we could get higher level of transferring funds from one peer to another. I believe that when people realized that it is even better to be from third trusted party it would be more convenient and economical. Direct transaction is promoted by crypto and this is what People really need, they just don't know about it.

Yeah - You just wait until this new generation of snowflakes come to age. Their Smartphone skills will revolutionize how internet and phones work together.

I mean seriously - these kids these days operate a dozen social media accounts, 100 aps, while texting 3 group chats and face-timing grandma all at the same time...  ::)

I assure you - This new "Shit" generation is exactly what Bitcoin needs to jump into mainstream use.

It's not grandma we want - It's these damn kids to grow up, get jobs, and invest into new tech.

its good to see that your banker knows about bitcoin and blockchain but don't have any impression cause he will not have any customer to use cause it is so difficult use .However bitcoin is never so heard what we think its also so easy to open a wallet and exchange too .You said people who don't knows how to use smartphone ,how they can use it .I wanna say he has no idea about bank nevertheless he just using it so that it's actually tough to them who don't wanna use it an think it so difficult .We are here to make the world faster to know about bitcoin and blockchain .Hope one day bitcoin will be most popular than bank.

Even in my country one of the my banker friend still don't know about cryptocurrency. I think he is not feel interest to learn about it.
Actually bank is not accepted here that's why most of the bankers and business holder leak of knowledge regarding Bitcoin.

Using banking services is an ordinary procedure, but using bitcoin is a new thing that requires a change of mindset that requires time.
Bitcoin makes it easy because transactions occur directly, making it faster, more efficient and safer. Maybe one day the bank will find a more practical system, but now the costs through banks are indeed more expensive.

Some few years to come, the banks will have no option than to integrate cryptocurrency into their services despite the decentralized nature f cryptocurrencies. With the fast emerging adoption of cryptocurrency, people will move to crypto because they prefer more conveniency, security, and transparency in transaction. It has already began with projects like the HubrisOne merging traditional banking system and cryptocurrency.

when people says bitcoin is difficult to use, I always look them as someone who doesnt want to do anything by themselves. As much as you are educated, you do not even need anybody to tell you how to use bitcoin because it is very simple. nobody teach me anything on using bitcoin before i started using it. On the other ones, it is true that there are some set of people who are very far to catching up with the technology. despite bank introducing cashless policy, there are still many customers that cannot make transaction on their bank app

The transition from currency as we know it today to cryptocurrency is long and bumpy.
The most important step is to just keep using it and pushing companies to adapt. Furthermore, just learning about blockchain technology will help people understanding how value can be created in so many ways.

Even it is before discussed that cryptocurrency and fiat currency are both different and both have their own value and usage. So i think merging both is not good. They both can exist in the market simultaneously. Like Gold is used as investment and fiat for daily use.So i think leave the thought of replacing cryptocurrency with fiat currency because it cannot be happen sooner or later.

I think that banks are not so negative towards Bitcoin and cryptocurrencies like it was before. Banks are also interest in Bitcoin, to my opinion more and more, because they are aware this is another chance for their profit. Banks don't feel so threatened anymore and they are not fighting it. In fact some bigger banks are also interested for Bitcoin to be regulated and also to be integrated in their business and service for the clients.

I agree here with OP (or his bankers). People are want help with everything and they are prepared to pay for the help service. And I agree that atm opening wallet, sending transactions on blockchain etc. are too hard for mass adoption. But many exchanges are now trying to simplify these functions. Nash exchange and Blockport as an example. And if they implement customer support (even physical) they could example be the one to overcome traditional banks in this segment.
That has nothing to do with fiat though. I think fiat is here to stay. I can't say the same for the business banks though.

I told also to m bank accountant that if they are ready now to accept cryptocurrency or the bank is having a movement to adopt blockchain!
though the answer is not good as she has no idea on what i am talking about!
but i douibt it and i dont believe it as i know they are the first person in the industry on it! though they are not able to speak with it!

your banker is right, fiat currency will not phase out. it will co-exist with cryptocurrency.  Also the issue of people not being able to use cryptocurrency and blockchain technology will surely be resolved with time. Its a normal thing for people especially the aged group to complain whenever a new technology is introduced but after a while they get used to it too

Discussing with the bank about bitcoin, of course will cause different perceptions, because banks as operators use fiat money while bitcoin is not physical because it is used digitally.
From a different understanding, of course there must be a meeting point that does not lead to debate, that bitcoin does not use banking services because it is peer to peer and decentralized, making it cheaper, easier and safer.

some inter-world banks are still difficult to provide support for bitcoin or other cryptocurrency because they consider cryptocurrency such as bitcoin to be only a manipulation of prices and they cannot see the potential that lends to banks, but I am sure that in the future there will be a lot of support for using bitcoin.

As for now, I do believe in the bankers idea of cash not going to die. Eevn with the new technologies still cash or money didn't loose its significance of usage. There are so many cryptocurrency as of now and none of these could claim that cash can be removed and be replaced by anyone of these. The real scenario was that people invested so much on cryptocurrency to earn cash or money, and so how can cash die if this is the whole intention? I could agree on the banker on these points, but who knows what cryptocurrency can do to change the whole monetary system? It is still a possibility but it would take some time. The reaction of the banker should at least prove that not all could easily use bitcoin and that they need more simplifying. Perhaps an easy interface that could lead any user to work on bitcoin transactions. This I think is a good way to attract more users.

I got an opportunity to discuss with one of my friend working for a bank. When I said him about bitcoin, all of the sudden said that in a meeting conducted for their employees this was the discussion topic. Also it is said not to provide any services related to bitcoin through banks. So, here in my country the flag on bitcoin needs to change.

I also told my banker about Bitcoin. But there was no profit in it. There is no interest in my banker about Bitcoin. Normal money is good for them. The banks here do not believe in virtual money. Many people know about Bitcoin. But they do not agree to use it in reality. But using Bitcoin in banking will be beneficial for everyone. But due to some undesirable banks, it is not possible. Actually, nothing will happen to bankers. Bitcoin banks will have to be created directly. If there is a Bitcoin bank, then everyone can keep all their bitcoin safely in their account. Thank you

It will be gone but not so soon.
cryptocurrency will definitely replace them, though this need more time of waiting as there are so many people who dont know what it is and how to deal with it.
But definitely in the future it will. different countries will have their own crypto.

JP Morgan didn't believe in the cryptos, but now he said he would create a cryptopara unit himself.. With the developing technology, crypto coins will be used more actively. no escape from this!!

first of all there is a conflict of interests, why would any banking institution want to teach people about bitcoin?
its a potential competition that could (and should) drive them out of business
besides bitcoin is not much easier to learn about as it is to learn about bank accounts and related things
there is a minimum tech information neccessary before you even start to explain what bitcoin is
not even talking about creating and maintaining wallets and transactions, just the technology behind bitcoins

If we look at it at a glance of course it feels a bit difficult, but gradually they will be able to understand or even do it easily, it's not time for bitcoin to be said to fail only because it's caused, by factors "are not good enough to use the phone for simple online banking". Humanely they are indeed friendly, but in banking, they have actually licensed robbers, which are covered by the law of the agency.

Honestly, they should be the one telling their client about Bitcoin because it is a new economy, but these old bankers have spent all their lives dealing with fiat that they are at lost on cryptocurrency.

that wont happen bro  . crypto already existed for a couple of years but fiat are still here and even if many people already here and use cryptos  , they still use and prefer fiats . thats only an indication that fiat money is the best currency among other  .  we can use fiat anywhere while crypto cant simply do this  .

Banks and cryptos or fiats and cryptos will only work to each other  because crypto isnt also possible without fiats and banking system .

Smartphones? Next gen will probably be using augmented reality goggles or such. Google Glass might have been a bit early, but i can picture a near future where everyone would wear something like that instead.

It is an undeniable fact that the future of payment systems is with all digital/virtual currencies of which cryptocurrency is a part. People will move to wherever convenience is and this is what will cause them to halt the use of paper money (too cumbersome to carry in wallets, pockets etc) and begin to patronize cryptocurrency and other forms of digital currencies.

bitcoin has not been able to replace paper currency, because it requires several stages and this is very time consuming. so for now bitcoin can only be an alternative currency and is used to trade in large numbers and between countries. need the approval of the world bank and the willingness of user countries to be able to make bitcoin a legitimate payment instrument.

That is really a big help for the bitcoin community. Banker knows what is going on and they starting to enter in the crypto. That is really really good move for everybody, adaption is just starting and it will help the bitcoin and also the blockchain.

In my understanding, the bankers are your friends and they want to learn Bitcoin but no time to study it as they are very busy people or the bankers don't want to learn Bitcoin as they believed that Bitcoin will not supersede the fiat system. Well, if they are open minded people and really want to learn how Bitcoin will works then they should find ways on how to learned it or if they will not then leave them as they are just wasting your time.

if the banker says that cash won't disappear, why are they so aggressively making payment platforms like wallets? You know, now every bank has its own platform for payment methods such as bill payment applications or whatever, it is a form of progress in time and cash will definitely be replaced by it, and bitcoin will also take an important position in the future

Now Bitcoin not a new economy, it's over 10 years ago was invented. But bankers,engineers,doctors,lawyers and a lot of different profession communities there are no good idea about blockchain technology. Many countries banks trying to develop blockchain system in the banking sectors.

I don’t think cash will be replaced so easily in the near future. Although the use of cards is aggressively progressing as of now, I believe that the use of cash will still have a very long life. Even while we can see that there has been adoptions of crypto more and more each day, it may not eradicate the use of cash for the years to come. Many complications will be encountered such as the need of having a smartphone or device plus internet in order to have access to crypto.

I also believe the same mate,that cryptocurrency will never make Physical money gone

Maybe in future the main currency to be use is crypto because this is designed for computer generation as virtual money but we all know that this needs internet and electricity to function while fiat can operate on othr side so in this they will both beneficial for the world when the mas adaptation of cryptocurrencies happen soon

I think, just now there are still no big possibility that crypto will replace fiat. Hence, cryptocurrency is fit to be used with fiat currency. They are both fit to be transacted with. Bankers are not really knowledgeable with Bitcoin, they are more on financial literacy. Bitcoin and other cryptocurrency are now booming and I think they heard a lot about it that's why they are getting curious to know about it.

It's quite surprising that age 20-30's are not into tech. Well , I can understand 30-40's. Where is this country ? Maybe they are lazy enough , but I dont think thats the case , because a technology is a big contributor on why people nowadays are very lazy. So as said on earlier replies , I'm pretty sure they already heared about bitcoin , and they stayed away from it since the bloodbath. People really fear what they are not familiar with. Basic survival instinct on action.

It's the same in my country.
I even don't feel confident to talk with my personal banker about bitcoin or that I'm buying bitcoin.
I'm afraid that he may stop my transactions because of suspicious activity, spam, whatever lol
It's funny but we live in such world so it's better to be silent about crypto and don't talk to much, specially with your banker.
 

Banks don't want to incorporate crypto since it is still in its early adoption stage. There might be problem in the future if they carelessly accommodate it. Besides, crypto and banks are not necessarily on good terms. Lucky for you, your account didn't get terminated. From where I live, if you say your income is form cryptocurrency your bank account would be closed.

Hey it's not just about early stage issue, they very well know Bitcoins is cheaper, secured and faster than their banks, they're scared it may effect their business. I have lots of foreign transactions, which I used to do via banks then used to pay them a hefty fee, but now I do it through Bitcoins and I pay very less fee. I have heard that too many banks close your account if you deal with cryptos, it's best not to disclose them to be on a safe side.

This is exactly the same reason why there is no mass adoption, people are really not interested nor they are bothered to learn about the new technology, people casually ask whether the market is legal or not, they have just heard about the new technology and nothing else is known to them and it is only because they are not interested to learn about it, people who understand the viability of the market have invested in it.

You said this because you're a cryptoneir and you benefit from the Bitcoin network but the case with bankers are different because they sees Bitcoin as an obstacles to their business and if you check every protocol of Bitcoin you'll know that it will definitely affect their business. This is was the reason why the senior banker in India etc don't support Bitcoin.

I don't think that we're in the early adoption stage. Crypto, specially bitcoin has gain a lot of media attention and slowly getting into lots of countries as well, that's why banks are really treating them as "enemies", so to speak. Although I stay in a country wherein bitcoin is generally accepted, sometimes its hard to open a bank account here specially if you told them that you're into crypto.

Do you know the total cash money in the world? I'll tell you: approx. 3 trillion dollars (3*10^(12) dollars)

Do you know the total money (stocks, electronic and cash money in the world)? I'll tell you: approx 30 trillion dollars.  

80% of this money are dollars, 20% of this money is money in Euros, etc.  

When you go to the bank, you go to get some cash money. This is why banks are in this world. To give you money or to take your money.
They ask for your ID, and then they do what you say (give or take your money).

Bitcoin was invented precisely for you not to be asked for your ID. You can cash your Bitcoin at every Bitcoin ATM, you can buy with Bitcoin online or offline (with your NFC smartphone). If you buy with bitcoin there is no banker to ask you about your ID.

I'll tell you, I have to change my ID every 10 years, I am 50 years old, I've got nothing but trouble every time I changed my ID.
When I made my ID when I was 14 years old, they asked me for my birth certificate and my mother ID. 4 years ago I changed my ID the 4th time, they asked for 6 documents.
What if I do not have my ID and I have money in my bank? The banker will refuse to give me the money.

With Bitcoin this does not happen. You go and cash your Bitcoin at every Bitcoin ATM. No ID necessary.


  

 

As of the moment, when we talk about the stability of Bitcoin or crypto is not that stable. That's the reality and truth for now, yes we can able to gain big in digital currency, and yet there is an disadvantage and of this are once the internet has been shutoff it will be useless unlike in Fiat, whether offline or not we can still use it as payment, did you see the catch of it.

Internet is here to remain, there will be no prosperity in this world without internet. If there will be a day in the future when internet will stop to exist, then we will enter the Dark Ages again. And these Dark Ages will last for 100 years. The internet is making people productive and is very good for this world economy, there is internet in every country of this world, but in Africa.

Do you know what was the Dream of Steve Jobs?! To make every man and every women have a smartphone.
Do you know what is the Dream of Bill Gates? To make every home in this world to have a PC.

If you have a smartphone or a PC it is necessary to have internet.  Without internet we will enter the Dark Ages again.

I wish you a very good day.





 





  

well bitcoin may see difficult to use now as with every new technolgy introduced. when the internet newly came up, so many people didnt quite understand why it was needed but today the world can not do without it. I remember before banks came into existence, people save money in their homes and were skeptical about putting their money in the bank. Today people prefer to put the money in the bank than put it at home for security reasons. same thing will happen will bitcoin. As times goes on, people will see bitcoin is far more better, faster, cheaper and safer to use than fiat from banks and will gradually migrate to using it. The issue of undestanding how to use it will sort itself out with time and soon everyone will feel comfortable using it

Some banks really don't like the growing popularity of cryptocurrency and people who are investing or trading on it are not welcome any kind of bank accounts. Some poeple in my country are not allowed to apply a bank account after the bank employee discovered that one of the sources of their income is from cryptocurrency. I believe people will get use to utilizing the cryptocurrencies in the future and banks may recognize later the role of cryptocurrencies in the future.

Thats a nice idea . when you ask the bank teller i believe they will agree to support bitcoin because they also love it , bankers love bitcoin because they sees it as an income oppurtunity aside from its usefulness as a currency   . the only problem is their manager or the owner of the said banks  .   some bank owner might feel threatend about bitcoin because they sees it as competitor for their business  but not all banks feel the same  .  on our country many brand of banks are now supporting cryptos   . 

Agree, but there is no shut down the internet due to because today many people gaining knowledge through the internet, see Bitcoin adoptions is kept increasing which will help us to adopt more in the coming days. Not only Bitcoin, even now banks will face the same situation if the internet is shut down because most people are doing online transaction based on the servers and Internet only.

Hmm, i see your point. But I think it really depends on the people and the specific demographic. There are many who don’t really feel comfortable with using technology day to day, however there a lot of us who are. Also, it has to be pointed that no one’s saying that cash will die out, at least in our lifetime, but that shouldn’t affect bitcoin whatsoever.

I believed the difficulty in using using bitcoin will be a thing of the past going by the production of smartphones by Samsung and HTC which bitcoin wallets incorporated in them.
In a shortest period of time users will get accustomed to how to use it just as you rightly said when the internet was newly introduced there are fewer users compared to now thus in a long run people will key into the idea of hodling their bitcoin in a wallet rather than using the bank while effectively making transactions swiftly.

The issue raised by your banker is true, there are lots of people who dont know how to use ordinary phones talkless of smart phones and doing online transactions but then do we neglect development and advancement simply because there are people who can't do what we are advancing to. Look at the world today, we have computers and phones everywhere and if you trace back to thousands of years ago,there was nothing like this. Gradually everyone adopted to its usage so those who find bitcoin difficult to use will with time learn or have someone close who would help them out every now and then. Every revolution comes with adoption challenge but then it has to come so the world will advance.

You are right mate. Before we see mass adoption in bitcon and crypto, we have to make it clear that we don't have the intention to eliminate our traditional currencies but rather to use them together for faster and easier transactions.

A banker asking how to open a bitcoin wallet is simply a bad example for the lacking of banking community in technology advancement. We have got lot many wallet services and majority provide with the ease of access. Anyone who go through could know about creating a wallet.

I don't think they are wrong. Come to think of it. Many people are just not willing to change from their old ways of doing things and the fact that this is about money makes it even harder. However, I think the number who will be interested in btc and would want to move away can still affect the traditional banks and so it should be a cause of worry to them and hence plan of how to integrate crypto services with the traditional banking services

business people should be willing to buy and sell on a large scale using the future currency, if the bankers and customers get used to using bitcoin then they will enjoy some conveniences that cannot be obtained if we use fiat currency. socialization of payments using bitcoin must be intensified so that the digital era quickly spreads to all levels of society.

Well in the first place, it wasn't meant to replace FIAT. Only some delusional people will think about that. Do you know why they say that kind of lines and phrases? To attract more people into using their project.

If you think about it, the prices of these cryptocurrencies are based on fiat. Its value in fiat is somehow greater to those who trade, and far more example of why it wouldn't replace fiat is because people do not intend to get scammed at all. :) They simply do not trust what people do in here even though people here don't do that much worse and we all know how fiat money works.

I think this is true. It's all about the need, if people don't need bitcoin then why would they spend time learning it. I just hope it is easy for them to see the advantages of a decentralized service, if all consumers are used to going to a support for mistakes they did themselves.

Actually I am a banker too, I work as a public service at the bank. I'm sure that bitcoin will have a future, thats why I still invest here,
many people invest in deposito bank for the long term, many of them don't know that inflation will continue to occur in fiat.

Good to hear from a banker like you, people does not put their money in the bank to invest, they just for sure want to keep it safe.
It's true that they are not aware of the inflation, but that depends also on the countries economy.

Old people from 1990s are not onto technology lets just accept the fact that they cant accept new technologies on this days,plus i agree with him that cash will ever die because its the foundation of bitcoin dont forget it.Bitcoin and cash still needs to co exist in the world

I think 1990's people are young and they are ready to accept the technology and are into it. Yes if you say before 1980 then it would be more relevant as their has being a huge change in technology in last 10 years and still keep changing which could be cause of them not able to change that frequently.

Bitcoin and Blockchain technology make to people to change their minds that most of the money should in a decentralised format which helps them to keep track usages. That's why many banking sectors are showing a lot of interest towards this new technology but still, it is in the beginning stage which in future many companies will start adopting this blockchain technology.

You met with a banker and banker told you this story, and little bit it is right, but not all, because banker told you what he is seen and absolutely bank deal with customers not bitcoin customers, here you told about us and we discuses about bitcoin not banking opening account. In bitcointalk you will see a huge people are working and they save their bitcoins in bitcoin wallet, so that is a different of our field.

I think at the of age 20-30 is nit the ideal age to ask some helo to teach something like creating bitcoin wallet. I smell something that he has a secret agenda about crypto. Because on that age gadget and technology is not a big issue in terms of knowledge because in that age is very expose in using technology and he is a banker,most of them are hate bitcoin because it can affect their job and business.

I told One of my friends few years ago who works in a large commercial bank about bitcoin then he told me i will learn about this after few day later he learn from internet and told me what about this its price is increasing day by day then i told him that cash less transaction is going to made by this blockchain technology specially bitcoin then he told me is it possible then i told him it will shown by bitcoin.

well, they actually will.
as long as fiat is the only regulated and everywhere accepted payment method it will live long and prosper.
crypto needs to be accepted everywhere to make a competition with fiat.
and fore being accepted it needs being regulated and people should trust it like they trust fiat.

but anyway author's bank representatives keep in mind that crypto is another financial instrument. and that is a good thing.

Almost 70% of the general users of phone don't use it beyond just phone calls and text messages, but with my smart device I can do almost 90% of all my activities online and I don't normally go to the bank, the only time I visit the bank is only when I want to complain about they double charges on my account. If not all the other transactions I do it over the phone and pos.

That is not a surprise to see the inflation always happen in every year because I see that the interest in the deposit in the banks is reduced year by year but the fee increases. I guess that in your office, not many of your friends know about bitcoin or cryptocurrency and you should be happy because you are one of many people who has invested in bitcoin and another coin.

Your bankers have a great point when you told them about it. We must accept that we can't live without the fiat money and we can live without cryptocurrency. Your bankers are also probably old and does not have enough knowledge about crpyto. But anyway, I'm not saying that we must removed the other one or vice versa. Both could co-exist to help the people.

when the banking system first came ,people don't believe the system and they don't trust them for a long time.government took many steps to make banking system popular.people refuse to take bank not in exchange of gold or silver.then the government force them to use bank note.that's how bank note become the medium of exchange.from the past to present everything needs time for acceptance,with the flow of time people used to familiar with system.so same thing can be happened for bitcoin.someday bitcoin can dominate the bank note and prove its importance in transaction system.

1. Unfriendly technology
That is one of the reason why the mainstreaming of bitcoin into the society for mass use is hard. A huge number of population are the adults and these adults composed of people who have no eye for technology or cant catch up with the flow of technology of the days. It is sad to say but adults are the one who have money compared to younger ones. Also on the part of the younger generation though they are very inclined with technology some are very poor to buy one and even if they have the capacity to own and knowledge to use it they dont want to waste their time on bitcoin since they have other concerns in life.

2. Bad reputation of cryptocurrency
Another reason why it is hard for people to accept bitcoin is due to its bad reputation. Many scammers who use bitcoin have run away with billions of dollar worth of bitcoins. News about bitcoin scam spread on the internet and is played on the news almost everyday.

3. Risky investment
When bitcoin bubbles popped  last 2018 the super bearish wave have made many people to lost a significant amount of money. Some sold their company to buy bitcoin when it is very high in value then here comes the drop they all suffer huge losses.

There are many reasons why people are allergic to bitcoins. It is not just about the technology but also many other things. So people will just choose to keep their money on banks rather than exchange it to bitcoin.

Using crypto wallets do seems daunting at first. Imagine managing and being your own “bank” and there is no one to help if you lose your private keys.

But for me, I’d rather be my own bank. Manage the safety and security of my priv keys.

Anyone can learn, they just need some time to learn how crypto works and how to be your pwn bank.

I found more people stating about the technology dependence, scams happening with it, no legal support from government and more other factors when we talk about bitcoin. Yesterday met a friend who is into business and enquired about bitcoin usage. Suddenly he got interested and further came up with a long back heard news that it is illegal and using it will cause downfall in the country's money value. People need to come out of these thoughts and only then one can experience the true need and the good of bitcoin.

Someone tend comfortable if he has been feeling that real life is something promised instead he must find another way to make their wealth added in internet bussiness. But this thing just for some people only, I guess there are many people who curious to find how to make money on internet. Being a businessman must have an ability to find a gap for the business he makes grow up and also can be survive in a long time.

Sadly but true, these are ones of the reasons which hinder bitcoin to be adopted massively. There are a lot of people who are not open-minded, old-schooled and not willing to learn. They are already thinking that doing transaction using bitcoin is difficult though the mere fact lies that they haven't tried yet. But I honestly believe that if someone will just persistently teach them about it, they will also realize how convenient, practical and energy-saving it is to transact online using crypto sooner or later. Well, it's kinda hard not to fall in love with crypto once you experience its benefits.

Yes that's true, I can say that banks and not connect I but they look pretty overconfident. Bitcoin and other altcoins are literally using faint money as an exchange of value. Like its same as how we use internet explorer to download about popular browser. They only serve us to get new coins 😂