Bitcoin Forum

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. <still Nothing>

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

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.  >:(

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.

I find your story encouraging and I am hoping that soon more and more will have the same experience so we can realize the beauty, advantages and benefits in using bitcoin instead of the usual banking system. Though I am not believing that we should do away with banks, I think that people should be including bitcoin as one of the most viable options...this message goes to many merchants as well to start thinking how they can incorporate bitcoin into their ecosystem.

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.  >:(

This is so true, some transactions if made via bank would take a few hours or sometimes days before it reaches or finishes the transaction. Unlike if you will pay via bitcoin, you would be able to cut banking fees or unnecessary delays. The convenience of taking awayt hird party involvement in transactions made it faster and cheaper.

Use paypal or credit card, also bitcoin could have taken way longer than 20 minutes, sometimes it takes hours too so your example is pretty shitty if you want to make banks look worse than bitcoin. You had several options for instant payment, its your fault for refusing to use them, not the bank.

This story surprises me because normally debit card and credit card payments take the same time to process. Or it wasn't a debit card but a bank payment or smth?

In this case i personally not prefer to use credit cards to boost speed of transactions because in my country if use credit card regularly then monthly fees will be pretty expensive so i prefer to banks transfers which is the common problem from transfer different banks will took time longer however indeed bitcoin can solved this issue because transactions will made less than hour but unfortunately banks especially government cannot let bitcoin involved in this part

That's the advantage of having crypto over banks. We could pay and receive payments instantly. I used to make transactions with banks before and it takes about 3-5 business days and it's really a waste of time. Since I had bitcoin, money transactions are easier as well as payments.

Your story makes me more confident about bitcoin, and is eager to experience bitcoin payment services as soon as possible.

Yes, I know the frustration! I once experienced my internet being cut for not paying in time
which I did the day before the cut off. it took my bank a day and a half to send my payment
to the internet company which resulted my internet being cut. It's frustrating that these things
happen but all I can do is try to understand.

This is really the kind of problem that I wanted Bitcoin to solved. When the bitcoin process before is too fast and cheap we can easily solve this problem however the problem before was that bitcoin is not yet that recognized.

Now that bitcoin gain popularity  there are still some companies who don't accept it. We can't still blame them tho because of its volatility that can hurt the company's funds. I think this is where a stable coin can be a good substitute. You will be sending your bitcoin to the stablecoin and use the stable coin to pay directly to the provider.

This is one of those great examples that could very well be turned into a TV comercial for BTC  ;D
Banks will have to adapt (they are already doing it) if they want to survive... but BTC will also have to run as there are some alts that are already offering better use case (not mentioning store of value, where BTC is still the undisputed king)
Can't wait for crypto to spread out everywhere, these days of being bank slaves are ending  ;)

Yes, Bitcoin is a lot better than the banking system. I have heard that you have got the bride to deal with Bitcoin. The government has to expand it further. If it does, then there will be no problem with anyone who It seems to me that Bitcoin is very effective and useful from the banking system.

Yes for sure the payment would be sent much more faster ,
If only they would see it that way blockchain could help a lot .
It could really change the future for better if only they would accept it and start learning about it.

My cable provider (AT&T) actually does accept Bitcoin now. I noticed the "Bitpay" option when I paid my bill last week. I wouldn't have imagined that in my wildest dreams 5 years ago! :o

Monthly direct debit services, 0 fees.


If your cricket match would have been in January last year you could have bought a yearly subscription just with the fee you were paying to get included in the next block.


Oh, so you don't like the fast and free solution, you chose the worst one and then you blame the banks.
Sorry but this zealotism at its worse.

Like a guy with a sprain leg, he avoids calling the ambulance, limps alone for 10 miles to the hospital and then he is angry at the doctor his foot is actually broken now.

Another important factor of banks is that most of them don't complete transactions during weekends unless you are willing to pay a high fee for that. So think if this would have happened to you on a Friday night and your bank just stopped the transfer because of the weekend. AT&T has started accepting bitcoin,so if it's available in your country you might want to switch to that and pay your bill with using bitcoin every month.

This is one of the reason why people need bitcoin in this world, I really don't understand the government rules sometimes i wonder if they really want to help or not!. Allowing bitcoin as a payment for any services is no hassle i hope they will realize how useful bitcoin for everyone.

First, I understand you are very angry because you lost a TV program that you like. Payment of the TV bill should be fast if the TV service company makes an auto confirmation system like e-commerce. Yes I understand that the blockchain is able to realize it all, with fast confirmation and no long waits.

In my opinion this is the fault of the TV service company, they should use auto payment confirmation instead of using manual confirmation. Indeed bitcoin is the right way to realize this, but it can't do much because there is still a lack of knowledge about the benefits of bitcoin.


yup, in my opinion this is the right way out now, I also use the monthly auto debit service provided by the bank

Lucky that this never happened to me though in my place the usage of bitcoin is limited for some billing payments and another lucky thing is my wife never forget about to remind me of when to pay the due so we never skipped the billing

But you are correct on how bitcoin is more advantageous against banking ,I believe this is what the world need to know.the benefits of cryptocurrency compared to all the payment areas in this world

We all had at a time something related to OP experienced but where able to control the situation compare to his/her state. In a country with a bad network provider cannot avoid what had happened to OP, and the best option for the client (or the person is using Bitcoin for transaction) only if it's allow in that country.

We all love Bitcoin, except Bitcoin haters who vow to it.

This is one reason why we need bitcoin as a means of payment, payment using the bitcoin system will not take long just a few seconds to get a confirmation block, this means it is more efficient compared to conventional bank transfers that still have the possibility of error because maybe some technical reasons from the bank's servers that we rarely know but are very detrimental to us as customers.

I'm currently having a similar bank transfer issues, tra sfer I've been trying to make for over 30mins keep saying processing error. Bitcoin or any other payment cryptocurrency can help one overcome this scenarios.

It should have some reminder if you late made the payment ( notice on email for example )
When some company want to accept bitcoin ,they must follow government's policy or other risk / regulation.

Yes, crypto is something that we are need for legal transaction but it still require some time for it !

Bank payment can even fail and be hanging. I have severally had a failed bank transactions, and the cash actually left my account but merchant didn't receive it, prompting me to do a series of mails to my bank, because they have other customers complain to attend to, I had to place on the waiting line, well before it can eventually be resolved some do take many days, forcing me to make an alternative with the hope that my merchant was going to make a refund to me. In all these bank charges are nonrefundable. 

I think the government now should regulate the bitcoin as a currency. There are many existing drawbacks which will be recovered with this.

Anytime  ;) :) I love Bitcoin because I don't need to carry it everywhere or it is permissioned in its original format without facing any currency exchange issue.

Yes, this is a weakness of the bank system, and the existence of blockchain technology will improve all this, hopefully the government will immediately apply blockchain technology to the banking system, so that cases like this do not happen again

Banks have some limitations when it comes to paying, but this is how the financial / banks system works. If I send payments from my bank account to other user of same bank, the payment will be visible almost instantaneously or within minutes. This will not be the case if it is a different banks, this process lasts longer because of all the possible checks which both banks have to make.

Bitcoin could be solution for OP problems, but only if he pay an adequate fee for confirming the transaction in the next block. If fee is too low, sometimes it take days to get first confirmation, so bitcoin is pefect solution only if you know how to use it.

If some of service you use does not accept bitcoin, the only thing you can do is to ask them to think about that, and if merchants received more such requests they will maybe consider such an option.

I have the same experience as you, and that makes me angry with them. I tell them that I already paid the services, but they said that it needs to be verified by their accountant so they can release the access. Almost one day I wait for the access, and I called them in many times, and I am sure that they are very angry too with me, but I don't care ;D

We hope that we can pay with bitcoin for subscribing in any services so we don't have to wait for a long time to get verification and even I think the system will automate the process so we can get the access the payment gets 1 confirmation for the transaction.

It's known that bank transfers take long, which is why you should automate the billing process. All my bills are automated and I never have to worry about being too late with payments.

If there are trust issues in the way that you may get double billed, there should be an option within your banking portal to set some restrictions such as only one payment per whatever time frame, and only X amount as max that can be debited from your account. If that isn't an option in your region, then perhaps we just have superior banking here in Europe, hmmm.

Since it's automated there really isn't much of an advantage using Bitcoin over a traditional bank in this specific case.

It's useless to hate banks, we still can't fully rely on.cryptocurrencies (and probably we never will) so their services are still needed. The fact is that their business is limited with very strong regulations that often don't suit us but that can't be changes. Still you can choose the scope of services and products they offer that suits you the most and other you can try to compesate with cryptocurrencies. So, combine the best of both.

bank service does not make us satisfied.  the reality of the system created by the bank only gives us a loss. 
I like if everyone takes all their assets and then transfers them to BTC.  I believe.  the bank will disappear and will be replaced by gold or bitcoin.

Not all offline and online media accept payments with bitcoin. Because there are still many government restrictions on this digital currency. Even though with bitcoin everything becomes simpler and faster

imagine people from poor countries like mine? when I pay TV and Internet via ATM it usually takes between 30 minutes to hours, and it constantly causes me headaches. Even the POS services in my country are not so reliable because they have many problems and maybe in many years my government will think about accepting bitcoin as a means of payment. By this I mean that at least you have better options

Wouldn't bitcoin take just as much or even more? Sometimes it could even take days to send bitcoin and you have 0 safety when it comes to bitcoin payments, you would have to rely on the company to be safe and if they scam you, you are fucked, who is going to give you the money back? At least with banks, if you get scammed for small amounts of money you can easily cancel the payments.

That is why many of the modern people especially those who are technology literate people who's wanted an easy and fast transaction like me. I am sorry that you experienced that kind of situation for sure it is very annoying,
I hope that in the future bitcoin will be available to all providers or all products that it can be an alternative way of paying instead of cash or through bank.

Similarly as another contraption, for example, a cell phone. At first, individuals will in general scorn the new innovation in the devices. This isn't on the grounds that they don't care for it, but since it's new, confused, and might overuse it.

For this situation, a few bankers / investors have no clue on how this new innovation functions. Tragically the individuals who get it, loathe it.

This is why i like bitcoin and ussually coins or payment who are sent instant, i also pay for my tv service, but not with bitcoin because is not possible, i pay with card and ussually on 5 minutes the payment appears as processed, but yes bitcoin and crypto solve the problem of bank transfer, i mean we can use crypto instead of bank transfer.

Banks also hate money. I hate also banks.
Transaction are fast in netherlands, but the bankcards are crap.
cards are times as thin with less plastic
Gold on the chip is now silver
they have used copper as little as possible


Bank like crypto. safes time and a lot of money.
That is why this system was conceived and developed by tech companies and the people people.

Banks will continue to exist, but they will become richer because everything will go automatically. Lot op people not needed annymore and 1 building for all administration.
People will always need loans. But will probably come up with an option to deposit it with a full compensation if it is stolen.
If you yourself have the risk of being hacked, all your money will be gone forever.

See bitcoin as a test mode right now. In a positive mind.
But how can you test it better than doing it worldwide?
Testing with mass hystery and dumps, with a lot and less miners.
2017 Bitcon was stress tested full power to see if blockchain holds, then fast dumps and so on and looking what it cant do. Whats going to happens. Think the exciting thing for techs is to wait anyway when all bitcoins are mined. Destroys the blockchain his self, works it after all coins mined well. they don't know it either.
Bitcoin technology is now just as far back as the T-ford.
10 years on, bitcoin has developed so far that it can no longer be compared with now.

Around the world we've got billions of satellite TV subscribers, and what you've encountered doesn't seems to be a big issue. Most of the time there won't be much issue with the payment, but the later process of adding service to the respective number gets delivered delayed. I believe this will happen with bitcoin too, as it happens with one in thousand users.

That's just how they operate. If you transfer money from your bank to another bank (in this case the bank of your satellite service), the other bank has to approve the transaction within its daily frame of business hours.

If the bank of your satellite service is located in a different country, things can become even more complicated and time consuming because there may be third party banks in the middle functioning as hop.

Bitcoin would offer a much faster alternative, but if your satellite service isn't aware of its advantages, they won't be accepting it, so based on that I would contact them and educate them about it and preferably so that they accept LN.

If they don't want to accept LN directly, there is a third party payment processor being CoinGate (https://coingate.com) that offers LN payments.

This is a common situation I think almost everyone has already been. It also happens when we need to make a transaction on friday night, however the transaction will be only made by the bank on next monday morning.
On this point bitcoin has an advantage. Its system doesn't stop working on weekends or during some hours, it works 24/7. Banking system is still too archaic for the modern times we are living, they have much to learn from bitcoin.

Sad to say that not all transaction can be made by bitcoin.but why we love now bitcoin  than bank.is it because bitcoin now is can trusted for.your money is in safe mode.bitcoin also can used for bussness transaction as easy as well done bank so many ways before the transaction be done.although yes we still believe in bank but for now I used bitcoin.

Why don't you use Ethereum or Ripple or other crypto currency? They more quickly,just only 3-5 minutes. Bitcoin have to lost 20 minutes for this work :)

I feel you banks are slow in everything deposits, withdrawals etc. That's why when i stumble upon cryptocurrency i took out my money on banks immediately because using digital currency is far more way advanced faster and the fees are very low, it's more convenient than traditional banks.

The transparency and distributed nature of blockchain technology, once it scales, will put pressure on traditional businesses relying on legacy systems. This particular case highlights the need to improve payment processing. There is no need for payments to take hours or days to reflect in an account.

This is a really sad scenario where you didn’t get to view the match even after paying up, why didn’t you have automated payments set up where they deduct money from your existing balance. I hope you will highlight this issue on social media and tag your bank, as it’ll make them realise they need to give better services to it’s customers. One suggestion I can give you is to start a campaign on change.org, where you can ask your satellite provider to accept payments in bitcoin, if you get lots of support they may just accept it.

I remember the same experience and waited for 3 days just to confirm the transaction. I transacted on a holiday and I forgot that the bank that I am using is somewhat having problems with holidays and weekends and starting from that day on, I did not use the banks anymore.

I do not know what type of payment OP used, but online payments should only take a few minutes. Delay can happen in any ends. It may also be because of his service provider's fault, not the bank. Anyways, delays cannot be avoided sometimes, it happens even if you use bitcoin. Bitcoin can also have problems in confirming transactions.


What payment method are you using now, if you are not using banks?

My mobile banking app has beautiful features. I do all my recharge from my app. Mobile, DTH, My Electric Bills, Internet Router Recharge Everything. The special feature available in it is "Alert me before expiry date". Not only this, if there is enough balance in my account, then auto-recharge is done by itself. Which means I do not have to do any tension with the recharge.
But the World Cup For that we all wait for four years. Whereas, besides each country, every match is interesting. Missing a match there means that it is very sad. I try to watch every match, but sometimes I can not see it due to the lack of time.

That must be very frustrating most especially your about to hit the climax of the game and then it got cut-off. Bank transfer usually take few hours depending on what bank and some may even take 1-3 business days to process which is why it very inconvenient unlike when you use bitcoin it’s like 30 to 1 hour wait for the payment to be credited to your account. Well, I guess for now you really have to make a reminder of your payment schedule for this not to happen again since the satellite company does not accept bitcoin.

You obviously did not read the post or you did not understand it.  ::)  If my satellite service provider supported Bitcoin payment,  I would have paid with Bitcoin or any other Crypto currency supported. They only accept credit card payment or bank transfers, so I am stuck with that.  ::)

We need to launch some collective action to ask more services like this to accept Bitcoin payment. If you pay before the payment date, you do not have issues with transaction delays and you can pay via payment processors if they want instant payments.  ::)

I still don't understand why some countries reject cryptocurrency.
It looks like they really get scared of it.

maybe you can use scheduled payments, generally internet banking facilities provide scheduled payment features. thus you can't miss the routine payment schedule. it seems that not many companies accept bitcoin as a legitimate payment, so  bank payments are the main payment method for your satelite tv.

Well, to be honest I also hate bank because of its centralization system, they have a lot of requirements request to their client before withdrawing the balance of the users. Then once you didn't comply it, you can't able to get it. Where in Bitcoin was reversible since were the one who manage our own coin to convert it into fiat, the transaction was not slow or delay instead its fast rather than bank anyway.

If we make transaction into the banks we cannot make it instant because banks have many process and also we can experience delays,rather bitcoin we can send it directly to our reciever and less hassle hopefully someday banks adopt bitcoin so that if we make a transaction we can send it instant.

We all have our own reason why we love crypto and hated banks ,
For me I love crypto because I could use it easily I could create account without hassle unlike in banks we need to complete some few requirements in order to create a bank account.
And bank theft is also one of the big reason why I hate banks I mean there are some scammers and thieves in crypto ,
But unlike in banks we are the one who are responsible in our crypto we are the one who should control it and take care of it.

https://i.imgur.com/m7pR3gQ.jpg?1

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I don't always used bank but of course I'm still have my savings account and luckily in my place, we can pay all our bills online using our bitcoin and that made our life more easy.
This is our local wallet who works a lot just to have this kind of services, and its coins.ph for everybody's information I hope to hear a more good local wallet on every place of the world.
Don't be sad, soon in your place a wallet like this will also be available.

We all have our own opinion about banks and bitcoin. Banks are still way secured in doing transactions especially in business.

Feeling sad to see why this much understanding you people having knowledge about BTC and bank. I will tell you some featured differences between these things.

Bank is centralized medium which is scammng the laymen and world people in the financial marketplace.


BTC is the decentralized medium which can be operated indepentedly and allow you stay anonymous. This market allow you may the payment anywhere in the world with the same fees.

Welll i love bitcoin cause i could buy anything i want from anywhere part of the world. I do also think bitcoin made a new job like bounty hunter and become my second job which is something that i love to do. I do think soon we could use bitcoin as a payments anywhere.

cryptocurrency is 100times better than regular banking. I still use cheque book and last month I requested for new cheque book and I have not received it , yet, after 25 days. I work in a remote place and bank book is the only option if I want to withdraw fund cause ATM is not available there. Although I have applied for debit card and it seems I have to wait longer. If I want to withdraw large sum, bank official asks 100 questions. And I feel really unsafe if someone notice that I am moving with cashes. There are other benefits of using crypto over fiat. Bitcoin rocks

When it comes to such type of subscriptions a standing order to your bank would have saved you from this disconnection,and if your satellite guys accept PayPal this could be another alternative to consider with their recurring payment plans which save you the trouble of remembering to make these payments. You don't have to hate fiat for this :P

Each time I make a bank transaction, I am afraid that something will go wrong again. I see that mistakes there started to happen too often. I never had these problems when dealing with Bitcoin and other cryptocurrencies.

There is no doubt that Bitcoin has solved the speed problems relating to financial transactions. As for banks, they always have an excuse that their network has failed and all that. It is a shame that even if people want to send money across countries, it takes up to days before the money gets to its destination.

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░░▀▀░░▄bank▄░░░░▐▄▄▄▀░░ #Bitcoin

Indeed,  bitcoin makes some simplifications that banks can't do it.  But the safety of storing such value into bitcoin  will be that huge and it is too far from being stored in the banks.  They are not competing actually, in fact, some banks are also adopting crypto, this means that they tried to see how crypto would meant to be as its purpose and such support will help the market to be strong.

That is the very reason why banks are afraid of the crypto adoption. In terms of speed, they are surely the loser. There are still drawbacks of btc transaction that's why most merchants are hesitant to employ it in their system. Volatility is the major factor that they are not convinced to take risk at the moment. But sooner or later, I believe such volatility issue will be addressed.

You could have added a recurring payment for your subscription. Again, if those are subscription based payment, then should they be almost instant? It looks like you are making some sort of payment transfer to their bank account to avail your subscription. That's really a poor method to accept payment and a shitty service to cancel your subscription instantly without even warning you. Your provider could just accept credit cards. They are always instant.
Yeah, bitcoin payment would be easier but then again, if you pay low fee confirmation might take ages.

Hows your monthly satellite TV is already reflect? You can choose bitcoin to pay your subscription in satellite TV and I think after few hours or minimum of 30 minutes it will reflect your account and you will get fast compared of using of banks. Maybe banks are delay only what juat happened to you. But next time use bank to pay your satellite tv monthly bill..

Give your condolences to you for having gone through the extremely difficult period. Actually working with banks always has a delay in processing data. Because in some categories, they still have to process trading orders manually. I have no intention of criticizing you, but really, you don't pay your money on time as your fault, and you can't force bank employees to be on duty to handle your mistake, they just an intermediary
Speaking of Bitcoin, will TV providers accept payment by crypto? If so, what guarantees that they will be able to process your request as soon as the payment is completed?

Well you should have had a debit order or yearly subscription as others have mentioned as well. I just hate the banking interface, it is difficult to use and confusing. Bitcoin and crypto is much more easy to understand since it is just a few things you need. Address of the receiver and the amount to pay and your security options.vWith banking you also have no idea the progress of your transaction since there is nowhere to check since there is no blockchain.

Lols, you realize he was paying for a satellite tv subscription?
How could he remain anonyous?
Ordering something via BTC will stop making you anonymous when the parcel is delivered to your door and it has your name on it.

Seriously now, stop it!


Bounty hunter is not a job and Bitcoin didn't make it, shitcoins did.



Common, nobody died, he just missed a damn match!
@Kakmakr are you still traumatized by this experience?  ;D ;D
If you can't get over I'm sure lupinvn can start crowdfunding (inBTC) to support you through this difficult period.

 

Well, that was unexpected, but yes if they accept Bitcoin payments you can surely watch the world cup without interruption. Now at least you won't forget to recharge your tv bills. and on second though bitcoin transactions can also get stuck so I think satellite communications are much better alternatives when considering something beyond the internet.

Different from me, I love bitcoin, but that doesn't mean I hate banks, I'm not hypocritical that I still really need a bank for my transaction right now. I still use the bank for my business, sending money with people in many places. even though I like the decentralized system, for now the bank is still very much needed for me

One person transacted the money, but the money did not reach his account. Then he reported to the bank and the bank said the problem would be solved within 3 days. But it was not, but the money from the man's wallet went away. But the money did not go to the account. The other side also went away. The bank was no longer in charge. The guy got his loss.if it was done with bitcoin instead then he won't face such loss. !!!!!!!!!!!

A good alternative to the type of payment, I agree that the Bank payment can be credited within a day, and if also on the weekend payment, you can wait a few days.With bitcoin much easier, this tool would make life easier in the service industry.

There are actually many third party services that provide you a convenient way to deal with everyday's shopping through bitcoin also there are many of gift card seller who accept bitcoin  If you really interested in using bitcoin you can try that

That is true, paying in fiat money is more complex than paying in a cryptocurrency based system. One of the things and one of the reasons why it should get adopted by different companies. It makes us less hassle than paying in fiat money and it little by little, bitcoin will be introduced to naive people.

For convenience, third party service is good but for me, it quite defeats the purpose of blockchain and bitcoin. Blockchain is created to avoid the third party in making transactions. The third party service providers are like the banks which we are trying to avoid by using bitcoin.

This is an issue that must be tackled by that Bank because it made consumers like you lose trust in them. Its unfortunate that some banks are still slow on processing payments and their services are still not that good enough to satisfy their consumers. It is their mistake because a lot of people are trusting them with their own money. Money is not something that is easy to gain and the best way for this kind of issue to be resolved is by finding a better bank.

It is true that paying with Cryptocurrency will be hassle free but that also depends if people are already knowledgeable enough to understand how Crypto works. We should start teaching them little by little for us to make a better community.

Sorry about the game Kakmar, i have also been in a similar situation where a friend of mine needed money so badly and urgently and you know how our central banks are. I sent the money but it took over 5 hours before he was able to cash out the money. I think it's time we actually push for the adoption of cryptocurrencies to the masses and marketplaces.

This would really help save time and all the stress that we have to go through when cashing out through banks.

Which takes away the point of bitcoin, doesn't it? Using centralized services because bitcoin cannot do it alone? There are many problems with bitcoin, most of these issues are holding bitcoin back from mainstream adoption. Stablecoins have tried to solve the volatility problem and while they are not volatile, they are also not necessarily the best option.

Financial Freedom is important but it also has its disadvantages, mistakes for example can be devastating because no one is in control of your coins and so, no one will be able to refund you if you make a  mistake.

Yes, banks suck, their interest rates, fees, etc are bad, however there isn't a much better alternative when it comes to everyday payments and even other type of payments. The bitcoin network is certainly secure, however that doesn't mean your coins are, your money is probably much safer in a bank than in your own computer with bitcoin unless you are never trading with it and holding it in a paper wallet (which certainly doesn't help if you want to use them for daily payments). Exchanges get hacked all the time, people lose their bitcoins all the time, even using hardware wallets, it happens. Security isn't necessarily a + when it comes to bitcoin.

Deflation: Yes, in that regard, bitcoin and cryptos definitely win, it's math, there is a limited number of bitcoins, in fact the amount is lower and lower every single day because of lost bitcoins.

Anonymity?: See, this one is tricky, you need a credit card/bank/paypal to purchase bitcoin, at least if you want big quantities of it, there are ways to do it without them but you wont be able to buy 1000 bitcoins not using one of those methods, also even if you manage to do it, what are you going to do when you need to cash out?

Talking about cashing out, bitcoin can be a bitch, did I say banks have high fees? Well shit, when you cash out your bitcoin, you can get pretty fucked with fees and it's not even that easy to do. Localbitcoins has been targeted by governments recently and might even shut down at some point, it's certainly not very anonymous anymore.

Banks do have a very important role, stabilize the economy for example in times of crisis, they can literally create or destroy money, we wont be able to do that with bitcoin and while you might think this isn't necessarily great, it's needed sometimes.

If you make a bank transfer by mistake the bank can do nothing in most cases. If you get ripped off your $100 banknote, there's nothing you can do either. So I don't really see the comparison?


There are literally a thousand of payment methods and more currencies, it's not the problem. The problem is they are all centralized or state-owned. Bitcoin is the currency of nobody, doesn't represent a nation and isn't controlled by a centralized network.

Banks and bitcoin have different function for everyone. It does not matter whether you only trust one of them because they give you much benefits than the other. I am using both, bank where I can save my money for the future used and bitcoin where I keep money for investment or spending purposes because it is less hassle to process online than in banks.

Bitcoin is better than in bank when it comes to payments, because it so fast and no need to wait for the approval of the banks. In bitcoin anytime you can open it or use. While banks there so many procedure and there is no privacy unlike in btc.

Bitcoin is better when it comes on payment coz it's faster than any other payment services. What i love about bitcoin/cryptocurrency is you can make your money x2 in minutes while in bank they offer a minimal percentage annually.

There are many reasons why we love bitcoin and hate banks.
I also discuss this topic:-
 
BITCOIN:
  we know bitcoin is a currency of the internet.
  it is a traditional currency, it has permission to use (from banks, trading business, the government also).
  it is easy to use (P2P currency ), and bitcoin transactions are very low-cost, much less than central payment networks.
  we don't need to provide your email, name or any identifying information when you making P2P transactions.

BANK:
   If all the people decide to withdraw their money from the bank, all at once, the bank will become bankrupt.
   Due to the function of credit creation, banks never have enough money to pay all its customers at the same time.
   People, without a doubt, will lose their money if the bank goes bankrupt.
 
Bitcoin is better than the banking system.

Bitcoin should get a bigger shot on these big companies, they must learn how to adopt it. Really, Bitcoin provides a lot of ease for it`s users,  things that banks and other payment platform that can`t provide.

I had a similar story, recently my internet provider bumped their prices, but I didn't notice it and paid the old price, so they cut my connection off. I phoned them and explained the situation, they immediately restored my connection and gave me 24 hours to pay the rest of the sum, I logged into by online bank, send them the money which confirmed instantly, end of the story.
So, the speed and overall user experience is not universal to all banks, and from what I've heard banks in the US are notoriously bad, while in Europe they are pretty good. The most important difference between Bitcoin and banks is that Bitcoin let's you control your money, which is a guarantee that no one will take your money away.

I am heat bank beacause their is the tendence of cething.when i keep the money to bank l doesn't fill safe.because their is a tendency to lost money.because in now days we see that hankers are hank the bank account and my money is gone.bankers are involved with hankers and polcie man also.so they are gate the courage.so i hate bank

It is unfortunate that the satellite provider don't offer Bitcoin or crypto as a form of payment, but as the competition continues with innovative merchants getting bitcoin as payment processor, all will join soon when the going get tough. Banks with their offline service and holiday periods will make bitcoin outnumber them.

the main problem with the bank is the length of payment confirmation, maybe if true bitcoin can be used for that in the sense that payment can be a solution and can be an easy thing for the transaction system.

Honestly, it is very basic to say that the bank could also adopt the blockchain technology for faster transactions even without accepting bitcoin. The blockchain technology is the real thing and not the cryptocurrency. What I mean is, if the bank will adopt the blockchain technology, then that is the time that they can copy or even develop their transactions. Same as bitcoin's efficiency or much faster.
I can tell that the financial institutions are now open for the possibility of adopting the blockchain technology or at least make another set of algorithms that is similar to blockchain. I also guess that Paypal has already done this thing.

The statement was really subjective and aggressive which concluded that hated banks totally, so the love of bitcoin begun because of every bad experiences from banks. If you belong to the banks, I don't think  your freedom remained that easy and comfortable. Unlike with bitcoin our financial liberation was there, and banks cannot overpower us in terms of how we use the funds that we had. There's no barrier to consider when it comes to transactions due to blockchain technology that gives us faster service that we needed to comply our required task for the crypto funds that we have.

I had that happen to me once with my Internet but I called the company and told them that it was an honest mistake and that I will pay right now just need them to resume the service so I can log into my bank account. I was online 10 minutes later and had no problems ever since.



I disagree that it's much easier with bitcoin. Logging into your bank account and sending is still much easier than copying the address and double checking if it's the right one then making sure the fee is set right.

It gets even better, not only can you make payment easily with bitcoin but also, we are getting to that stage where you can actually program your periodic payments with some smart algorithms. Bitcoin is programmable money,that's is another reason it beats fiats and any other form of money,

To be fair transaction's speed/fees aren't that much issue for me because where I live, it's cheap in overall but banking system is absolutely suited on making people poor by how much percentages in overall they have on different services, how high % they have on loans in some countries, how they block your account in seconds for some reasons and etc. Bitcoin is great because you own and manage your wallet, no one can control your movements and you feel secure where your money is in your hands and not in banks' hands. Another great bonus is cheap fees and high speed of transaction confirmation + a lot of services have integrated instant deposit which makes bitcoin more unique and affordable compared to any banking service. In overall this coin is great creation and deal to get rid of banks.

Exactly.Bitcoin is created so we can make more convenient and fast transactions compared to banks.And the fact that it has lesser transaction fees,then it would be very helpful for us especially if the government would come up adopting bitcoin so we can fully use bitcoin in all our daily transactions.

Your bank also has some blame to take. I do transcation and transfer with my bank and it doesn't take longer than 5minute. But still bitcoin is the best in terms of transferring funds across and at cheaper rate as compared to banking system

This is why we need more Bitcoin adoption in real life. If we can use BTC as our daily payment method, just think how our life will become easy and joyful! I hate the banks, Payoneer and other currency where they always cut the extra fee by knowing you or without knowing! So, BTC is the solution here! Though it's transaction speed needs to improve

I just remember how the banks tripled the loan interest of my sister. They loaned in a bank because of personal uses. But it ends up high. As of now, they have the difficulties in paying their loan. I hate banks also. I prefer to save and invest using my cryptocurrency wallet than to invest it in banks.

stories like this is why we need btc and crypto, and i cant even remember all the times i have been waiting for money just to realise its a red day so the banks are closed so no money is sent then, its absurd.

I dont believe that this is about banks ad crypto.
Your service provider could have good webpage where one can easily pay with bank or credit debit card and get the service renewed ASAP.

I dont know if the banks on my country is the same as others but i will state how banks and time work.

Deposit
 *If its cash, its usually a minute right after the money was deposited to a teller or entered into machine.
*If its check, it will depend on either clearing time usually 2pm, branch where it come from and other banks. I will say its safe to say it will process within 1 to 3 days.

Bills payment
So if you are referring to bills like what your story told, its the same here which has a minimum of a day to reflect. Some merchants have even more process time which extends upto 3 to 7 days also depends on the mode of payment which can be cash or credit card.

I don't think your argument is valid because even if you pay bitcoin, these TV subscription companies will still need to follow their policies no matter how fast you made your payment. They will surely go in the process of auditing and the other people who will approve it are also processing the other payment so it's obvious that people who paid first will go through.

Is not always the bank but the network in most cases as this morning I also tried to credit someone through a transfer from my bank account and tried it twice and yet saying timeout but just had to wait and after good 8hrs I saw an alert for the debit which if I had tried again , it would have been twice debit and blockchain also in some time takes hrs to get confirm due to some backlog in the pool but I still prefer blockchain to bank any way.

What you say is the truth that happens about bitcoin, indeed there are many conveniences that will be obtained and security that can be more guaranteed and other facilities. but we also do not close the fact that there are still many countries that have not been able to accept bitcoin as a legitimate payment, this will be an obstacle that cannot be avoided. still need time.

there is more or less than conventional payment systems as well as using bitcoin. all have advantages and disadvantages. it's not easy for television services to accept payments using bitcoin and it seems that this requires a long process. as long as I take part in the ICO project there seems to be no television service that uses bitcoin payments.

Exactly, you do not have to wait for Banks to open to "use" your own money or for ATM's to work, if you want to withdraw cash. How many times have I rocked up at a ATM and it was empty or not working.  >:(

Bitcoin gives you the control and speed and availability that you should expect, when you dealing with your own money. They cannot dictate to you, when and where you can have access to your money. Lately many Banks have started to close some of their smaller branches and their clients now need to drive long distances to get access to their services.  >:(

But i would still choose Bitcoin over banks since i am comfortable of using it as my own banks that i can access anytime or anywhere i like as long as there is an available merchant/exchanges in my place. Banks is always like that they always take longer to process even with your simple request. I am so happy to know Bitcoin in my life because of the easy access in almost everything that i want/need.

anyway, many cryptocurrency users have a great desire to use Bitcoin and other cryptocurrencies in their daily lives to pay for any services and purchases of any goods.  But I think that everything will agree with me that today there is a full-fledged infrastructure so that the use of cryptocurrency is full and quality.

Indeed, the bitcoin system may be better and easier and many other conveniences. but there is also a problem that not all countries have recognized it as a legitimate payment instrument, even as legal. even though it might be able to help eventually the convenience is in vain if the bitcoin country is declared illegal.

It will be good if the satelite channel provider will add bitcoin as a method of payment not only the bank because as you can see many bank dont accept bitcoin because of many reasons, many ico's have propose a solution for this kind of problem but they are not popular as it need to

20min for a payment seems like a long time. Isnt bitcoin slow in transactions?
I hate banks but i also hate exchanges..they charge too much
we need simpler , faster and more anonymous altcoins

If you read POMP on twitter you'll really like it. He's talking bout btc and bankers and why do we need btc more.

In real scenario, banking is widely accepted than bitcoin. Im hoping that Bitcoin will be legal and will gain assurance from people especially from the government. I'd rather choose btc than credit card. I was once taken an advantage from it. They just bitten me from their lure, I thought at first I am benefiting it but I was shocked when I had to pay more than what I expend.

Yes. They take their time when things don't work for you but as soon as you owe then they on it like flies to shit. The banks use such horrible tactics. Tempting people to use credit cards and take out credit to get into nice debt to pay back to them at 21% whilst their prime rate is 11% they only offer like 5-6% annual and you can knock off 1% depending on how much total funds you have since they love to charge for everything.
When bank debt orders bounce the charge $7 a pop. (Ok I am not really against that since if you owe someone money you must pay) but I am pretty sure they like when it bounces, since they profit and it just adds up for the next month. Or as you say they simply block your account and that is where I have a problem. Your funds could be frozen at any time for any reason. I really dislike being in that position.

I don't even use a banking credit card only debt. I don't even want to entertain the risk of temptation to spend what I do not have. Unless it's bitcoins  ;)

I have withdraw money via ATM bank on my country a week ago, Money aren't out from ATM but my balance got zero. because have trouble with conection while witdraw proses. then i go to bank and said this problem, so i have wait 14 day for get my money back, wtf.

I understand your feeling, mate, when enjoying your favorite program and you cannot, it is disappointing.
However, try to take the lesson from this, ever be late again to pay your bill  ;D ;D
And I also agree with you. payment with BTC may be great and easier, however, we realize that we cannot find them easily yet. Many companies still don't accept cryptocurrency as the payment method.

This is why we need Bitcoin payment everywhere! It is easy and very convenient for everyone! I am to use Payoneer which is linked with my bank account to buy goods from e-commerce websites or any kind of facebook ads! Payoneer takes 30 USD annual fee, which is a waste of money comparing with Bitcoin payment! Therefore sometimes Payoneer cut extra fees without knowing me! But If I use Bitcoin in these sectors, then there will be no tension for the extra fee or any authority! Payment will be smooth and confirmed It is decentralized, you don't need to call the customer care to resolve any issue, because, in Bitcoin, there will be no issue in payment! So, I hate bank and other digital USD too!

We will continue to face this problem once bitcoin is not yet adopted by the government because big merchants too won't start accepting bitcoin as a payment method.Hopefully the government would hear our side and realize that there is so much convenience on the side of the consumers if bitcoin will be already accepted as a mode of payment.

I also like bitcoin, especially when the profits are very high, it's really fun. But after being withdrawn and becoming a fiat currency, one question appears where the money will be saved? Finally it was decided to be kept in the bank. Because money in the bank can be transferred to the child's account, the wife and pay for other needs.
I consider banks and bitcoin to be very important and a part of my life, because from both of them I undergo a profession that can increase family income.

As much as i share your view point and understand your frustration for not able to get back to your program on time, even btc too sometimes also face delays in transaction, sometimes btc confirmation can also delays, do for just this reason alone is not enough to overtook other aspect where banks are doing well.

I did not try to pay my monthly bill in bank transfer only in bitcoin and all my bill reflect less than an hour only and Im happy to use also bitcoin.

We are bless of having a bitcoinnbecause we can easily to pay a bill using my wallet that I used name is coins.ph.

My bank also not enroll to the online because it is prone to the hacker.

At first, I was thinking that you are differentiating the interest that your money could get when it is invested to Bitcoin instead of Bank. Well, I guess you have just pointed out one of the good reason why we need Bitcoin and how convenient it is as alternative mode of payment.
Satoshi Nakamoto is right when he invented Bitcoin, he stated that Bitcoin would be a great alternative mode of payment system.

No matter how much we all live bitcoins, we will still use tradition banking. That's the real truth. You may need some daily funds to spend and bitcoin transaction fees will be much for those little expenses and as such may have to deal with banks for that. Bitcoin is a long term investment and it's always good to have some spare funds or cash to use.

For now,while bitcoin is not yet adopted by the government as a payment system,it's good to keep it as an investment knowing we can make big profits from it.And having banking transactions is still we have to make though it can sometimes delayed our transactions but still we have no choice but to deal with it.

Banking transactions still take far longer then bitcoin even on a bad day.


Or you can use altcoins.


With bitcoin you are the bank, you do away with the need for a bank entirely.

Bitcoin has a very remarkable technology in handling transactions. I am sure the Revolution industry of 4.0 will make it easy for all users transactions with blockchain.

Using bitcoin will be faster than you have use your money for paying you tv channel, by the way is better keep using money because will have lower price than bitcoin or using altcoin.

I relate to this situation, I've also experienced it in the duration of their service to reinstate the subscription. But there is also a mistake because overdue payments are usually in these companies they have rules and regulations so customers can fine-tune what to do.

Accepting a bitcoin as of payment is a great way because your time is not wasted and you can save on travel expenses to pay for any mothly subscription you have.

I also prefer bitcoin over bank. I used to pay my monthly electricity bills and loan payment through bitcoin and been doing this for months now. Good thing our local wallet has these features where you can make payment in just easy steps.

Online banking is convenient too but because of some account holders who lost their funds due to phising site I opted to switch to btc. However due to price increase, I might use cash now and hodl my bitcoin.

The whole system is all applicable to all banking system. The transaction have to show before granting your request,which is based on network service provider.  The goodness is that bitcoin is more efficient and fast to deliver

l have just read your post. l mind same with you it is big problem. l imagine that if we paid everything with BTC it would be amazing,but it isn't accepted to pay with BTC when it validates l don't hesitate to use everywhere. l have a slight feeling everything will be okey.

besides because the transaction process is easier with bitcoin compared to the bank. bitcoin also provides price advantages that always go up and the increase is very high whereas if we save money in the bank our money will be deducted by admin fees and get a small interest.

Difference between banks and crypto, cypto for sending and receiving money instantly anywhere and anytime. There is no bank holiday. There are no national borders. There is no bureaucracy. Bitcoin gives users full control of their money.
if the bank is the main function of commercial banks is to collect funds from the public. Efforts to carry out these functions were carried out by issuing various financial products to save funds, ranging from savings, demand deposits, to deposits. Saving money in bitcoin is not subject to admin fees, whereas in the bank every month we have to pay the admin.

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.

I think the banking system is still an obstacle for our customers, it goes as well in the system of my country, I like payment with bitcoin but in our country we have not received payment through bitcoin because of limited network and facilities, hopefully in a few years our country is ready to accept bitcoin for various payments and make services easier in every aspect

Using bank services in my opinion is too much a requirement because it must include an identity, besides the fees charged are more expensive than using bitcoin. Having bitcoin is also used to make payments as well as investments, because the price can go up so that it can get bigger profits.
However, for certain countries, bitcoin is not popular, so it remains the most important thing to use bank services. In my country, bitcoin can be traded, but cannot make payments. Therefore, when buying bitcoin into a bitcoin exchange, it still uses bank services. So the two complement each other.

If you are an investor, the banking system is really an obstacle for you when it does not provide too high interest rates, but if you are just a customer and an ordinary user, the banking system is very suitable for your payment and storage, while paying with bitcoin is probably very easy but costs and change values are always a problem. Stand in a neutral stance, I don't have the feeling of hating banks when it still has good advantages, and I don't love Bitcoin too much, what I like is just the amount that bitcoin can bring to me

In my country was the same so, bitcoin can not be used as a tool payment because of a payment legitimate according to the legislation is the eyes of the physical force in this country, bitcoin not allowed to be used as a tool Payment. Use the services of the bank higher it costs but I think we still need the services of the bank to to convert bitcoin into the physical money

Dear bank system and bitcoin is far different systems.
Bank system in the world is too old but now most of people are constrain and using bank systems as there is no other way as bank system rules are very tough and mostly they are opposite to wish of their clients they are getting huge taxes and fees on transactions.
While bitcoin system is new as compare to bank system in world but people are wishing to enhance crypto currency in world as compare to bank reason is that crypto system keep your identity secrete due to which you are tension free how much money you have while also transaction fee are too less as compare to other system.

This is quite unfortunate. This same thing has happened to me before. I nearly cried over this. I believe it is high time these companies engaged in bitcoin payment in order to make life simple and easy. The world is advanced that we should not advance our payment system.

I have a sad story like this your story too. In 2017 December, I decided to sell some of my coins because there were in profit and I called my localbitcoin buyer and we agreed on the price. We later finalized the price and we made smooth transactions. After three days I saw a land that I want to buy and I agreed with the seller also and we went into the banks to make a transfer only to be told that my account did not ought to receive such huge amount without verification. I told them that my account is verified and I have been using this same account for years only to be told that my account officer is on leaves and when he resumes the problem will be solved. Since then I regret open account with that bank and I later find out that banks are the same very greedy and selfish. I cannot wait for Bitcoin to be use as money and we can completely depend on it like we used bank now.

Yeah, that's valuable and useful for bitcoin. If the governments of all countries allow bitcoin to be used as a payment tool, this life will be easier, faster and more practical. There are many limitations experienced by fiat currencies so that this fiat currency requires complement like bitcoin which is able to perfect human life. I am sure that bitcoin is more beneficial than loss. The amount of this benefit depends on us who use it. We should use technology only for positive transactions so that the technology really shows real benefits.

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.

When I read this I remember Pomp from twitter ha.

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.

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.

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.

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. 

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.

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

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.

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.

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.

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.

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.

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.

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. 8)

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.

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.

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

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

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

I personally recommend  you to use Bitcoin.. i ever mostly use  bitcoin  rather than bank. Because  bank transaction  take 1 to 3 days alsmost.. so bitcoin  is best...

i actually never had problem with sending money but i still prefer btc ;)

I also prefer that has low transaction costs both locally and internationally and the shipping is fast such as bitcoin that do not have to pass through the bureaucracy of the banking organization complicated

Your hate is appropriate on your situation. But unfortunately still we have to use Bank even we hate. Because most of organizations doesn't accept bitcoin, in a result we are unable to spend it directly even this is our favourite payment system. There is need third party on banking system and perhaps its need manual approval if you make transaction on another bank accounts. So this system is bit complicated. But on bitcoin payment system we don't need third party. Wondering some days we will able to use bitcoin everywhere.

I believe the actual financial program continues to be a good hurdle for the clients, this will go too within the program associated with my personal nation, I love repayment along with bitcoin however in the nation we now have not really obtained repayment via bitcoin due to restricted system as well as amenities, ideally within a couple of years the nation is able to take bitcoin with regard to numerous obligations as well as help to make providers simpler in most element.

Banks will never support the cryptocurrencies which can be work independently. Recent days some of the banks are adopted XRP and some more cryptocurrencies but now emergence of many centralized coins may collapse the market.

Always keep support the decentralized marketplace to stay stronger for long time.

It seems to me that the banking system will accept the modern rules of the game and will also participate in the cryptocurrency market not only as investors, but also as developers of cryptocurrencies and various projects.  For example, you can bring a project like Libra, which will combine up to 40 different resources, such as Western Union, which are engaged in money transfers in parallel with banks.

In my country, some online stores have already started accepting Bitcoin as payment for goods.  But I will not be in a hurry to give away my Bitcoin, since I have Big Hopes for increasing my bitcoin stocks price several times.  Thus, today I use paper money or bank cards, I will keep Bitcoin until better times.

As I can see, we have companies with quite old technologies. It's not about bitcoin or crypto itself. For sure blockchain could be helped to resolve situations like that. If your company would have a smart contract to control your access to the tv. Soon companies will implement that technology, and we could get access in seconds back.

means we still need the bank though it is charged in the transaction. bitcoin and banks are indeed correlated, bitcoin can be used as a means for both short-term or long-term invest while we need banks to convert bitcoin into cash through ATM or other bank services. so it is better we look positively to the bank of and bitcoin.

I don't see the sense of not using bitcoin for online transaction when it could give you convenience.
The coin is valuable but for daily needs, you don't have to spend what you are suppose to save, just buy bitcoin with your fiat and then enjoy. That's easy...
 
Not because we believe bitcoin will grow we will not allow ourselves to spend it when it's possible to convert our money anytime.

During this period, there is practically no infrastructure for using cryptocurrency as a means of payment.  Of course, with the exception of some countries and some online resources.  But I want to draw the attention of users to the fact that even using Bitcoin transactions is possible only between users of cryptocurrency.  And if we want to transfer funds, for someone from a larger audience, here we cannot do without a banking system, because Bitcoin community is not very big yet.

and you still use bank until now.
you know if what people hate sometimes give convenience for them, but they dont look at. big good service sometimes closed by small fault. and maybe it happen because you are late pay your arrears.
hope if in your place have good service and accept bitcoin as payment.

in my personal opinion, because in the bank when we save money, then every month the deposit will be deducted as administration while in bitcoin there will never be an administrative deduction.

Well even when it comes to Bitcoins , we also have lightning payments ;
Now lightning payments allows us to transfer things instantly that too with a reasonable fee , wide adoption of lighting network is something that could change the whole economy and at the same time it could give us freedom to do whatever we want with our money.
Banks can actually close your accounts for ridiculous reasons and then cannot be reversed , this is actually something that people can face in foreign countries.
I think Bitcoins can be excellent for payment and for short term holding in that case.

Banks is greed on giving each investors a huge interest of their money despite of continuous and consistent deposits given by depositors. That's the reason why other's won't prefer having bank deposits instead they option to keep it personally on their resident vaults. Bitcoin beloved by people due to decentralized and not controlled by any sector, and you'll be earning independently.

Not sure why it took so long to reflect . I usually pay bills with my internet banking and money sent is almost instant with my bank . Ofcourse depends what bank is on other side that i pay , but if its same bank what i hold it takes seconds . If the other side got different bank , it takes minutes . Ofcourse cryptopayments would be really nice to pay my bills , probably it will happen sooner or later

Well, if you transact using banks online, surely it may take 1 day here in my country. Its too delayed actually, but at least We now have an exchange now in my country that bitcoin accepted and can also be traded too, aside from that using this exchange I can able to pay my bill using my bitcoin balance through this exchange. This is one of the reason why like it and I had no more use for bank anymore.

i hate bank and love bitcoin. there are many reason for that. if we deposit some money in bank it will not be charged more interest in bank but bitcoin prices are changing and i will be able to take more profit that bank investment. there is a risk in price reducing we should have better understanding of bitcoin before invest. that also the point to in vest in bitcoin because i have to learn and observe about bitcoin. i used to do it as my hobby

Because people prefer something that has a faster process. And in this case, Bitcoin is the winner, leaving aside the fluctuations and analysis going forward, of course Bitcoin wins because it is very easily accessible. 1 personal may only be able to access 1 account per 1 Bank, but in bitcoin you have no limits. And especially with an anonymous system which create free people are very happy.

You will pay everything if you deal with centralized system and you have to pay it and if not you will be taken out by them. Unless, when you use crypto as everything you want especilly to store your money and payment system. There is no service that must be paid by you because you are a servicer for yourself.

Decentralized system has been changing everything, I hope for those people who hasn't aware to blockchain function and cryptocurrencies's work can be immediately realized. Thus far, they only ingest everything when they got negative information against blockchain and cryptocurrencies and tried to ignore it. But I believe this is the metter of time, the technological system always grow up everyday and sooner they will know the truth of cryptocurrencies.

Banks really sucks I dont really get why they trasfer too slow while they are also using internet transactions, maybe it is because they are holding a lot of transaction and they cant manage to it instantly.

But there is a good side in this, until the money is not sent to the receiver you can always call and cancel the transaction youve made.

"But still sucks when you need to make an instant transactions".

These kinds of experiences are quite common, the payments are not processed immediately and this becomes annoying for people, I'm really sure that with a practical use of cryptocurrencies the payments will be immediate for all kinds of goods and services.

Obviously many of those satellite TV service providers will see reasons why they should adopt cryptocurrencies as an alternative means of subscription of course they will lose customers as a result of this delays by using banking credit system for their subscriptions.
This is in indeed a clear indication of centralized banking system deficiencies which can leads to all sorts of delays by their bureaucratic operations and thus slower means of payments will be the order of the day, of course the ultimate solutions is adoption of cryptocurrencies.

Transaction are not so fast IMO, it would take time to confirm depending on how much fee you will set, but banks can make transaction faster if they do it internally, or what we called bank to bank transaction with the same company.

The fee as well is high for typical users who does transact less than 100 usd.

For now, I would prefer bitcoin for big transactions as with millions or hundreds of thousands, you can still choose to play less than 1 usd and transferred without question unlike the bank.

Safe and economical

Even though the world of Indonesian Banking is already advanced, around 80% of its citizens still don't know the product bank. This is a chance for bitcoin to become an alternative payment. Apart from being very safe and cheaper than the actual bank transfer fees, bitcoin also only requires a split second to process the transaction.

Investment that is comparable to gold

Gold has become one of the top investments in the Indonesian community. One reason is because gold is easy to sell. Bitcoin is also the same as easy-to-sell gold traded anytime and anywhere through cyberspace. The question of the value of bitcoin does not need to be approved even some time ago its value reached 26 million rupiah / BCH. The value of proving that bitcoin cannot be seen as one eye.

Able to be used in various countries

The advantages of bitcoin are needed to be used in several countries and are used as a payment tool worth money. Bitcoin like the required credit card is used to pay your bills when buying abroad but does not require high interest costs.

Future Money

Many people think that bitcoin is able to dominate the money market throughout the world. Not a few who think that bitcoin can be the future money used throughout the world. This is supported by data from Luno who conducted a survey of people's interest in bitcoin. Around more than 41% of respondents believe that bitcoin is able to become a universal payment tool throughout the world. Respondents also estimated the value of bitcoin to be able to penetrate the price of 40-60 million rupiah per coin.

Easy to centralize and use

The use of money in general must be easy to use and decentralized. Bitcoin can meet this requirement, still new in the money market. The existence of bitcoin also provides special privacy to enjoy purchases wherever you are. Some countries that need bitcoin are starting to legalize this virtual money like in Japan and South Korea.

Minimizing Crime

Suspected of being virtual money so that the owner needs a decent storage area, the money needed to be used. This also reduces criminal acts such as robbery and canceling. Although cyber crime may only occur, bitcoin has a protection that is no less great to prevent hackers using bitcoin. Bitcoin is now also issuing money products, a new one called bitcoin, cash which is almost the same value as bitcoin. The existence of bitcoin money also helps prevent transactions when Hardfork occurs in the future.

I know right!! Holy crap the other day I needed to pay back my mom like $100 for some stuff she bought me since I was so busy. I sent it and it didn't even detect. I had to send it again and it went through and reduced the amount off my account but this was yesterday and now the notification still has not come through on her side. I must check if she received it. With crypto, I would not have to do all this messing around.
She would use crypto if she could pay bills with it. She doesn't really shop so nothing to buy with crypto unlike me who shops online.

Even if you paid in Bitcoin, I don't think that will really improve the system of a certain bank. I think the bank really have a system error either on the program/application itself or delayed update of the database. It is true that it is advantageous to use Bitcoin but we need to improve first the system.

Thinking that they re planning to help people is naive. They care only bout themselves and their power.

Let me guess, you follow Pomp on twitter?

Everyone has so many reasons or might have one or two reasons why he or she love Bitcoin and Hates banks. Mine has to deal with leaving your monies with them for more than a year without having or getting nothing on it. I have realized that Buying BTC is far way better than sending the monies to banks.

just dont be late. pay on time and i think its no problem. maybe its because you pay late, if you pay with crypto maybe the same case will be on you.
dont hate bank just because it have one bad service, dont you know if bank helping a lot of people including you. but i hope someday they provide payment via crypto, and they (user) can compare about the payment

Circumstances like that really try your patience. That is the problem when transactions will pass through some middle agencies that are actually unnecessary. And the fact that the payments are not allowed in several modes will add to the hours of processing. Bitcoin would have made the payment a lot quicker and disturbances would have been completely avoided or reduced to the minimum. But then again, you should have paid on time.  ;D

I just like that I have to rely on myself and not  the banking system for my transactions and own safety. They have made it so that if something goes wrong it is the user's fault. Only shopping is much easier with bitcoin and payment is within minutes and the seller has his bitcoins. Much better than waiting 1-3 days for a bank transfer, that time could be used to get your parcel to you. Now you 1-3 days late.

You don't have to lineup in queues or make appointments and you get to choose the transaction fees (up to a point)

Think having both is the way to go, then you have all the flexibility of Bitcoin and you have the security and lack of fluctuations with the Bank.

That's is the reason some people easy to convince to use bitcoin, bitcoin gives better fast services wothout hassle, specially if talking about fast transaction using for payment. You hate bank because now you know bitcoin is giving to us a satisfaction services.

Well I would say its choices. Everyone has a choice to make whether to go in for bank investment or  bitcoin. I personally don't hate banks per se but I prefer bitcoin investment because its fast and no tax is involved here. Bitcoin is also a way to make money faster than bank.

Yes, I think paying offline service bills through the Bank is still the best solution for now. So, users should be a little patient if there is a similar problem happening again. We don't even need to be angry if we miss that kind of match. Because there is already a video rerun of the match on YouTube. So relax. It takes time for them to research and adopt Bitcoin as an alternative payment.

same here i dont also hate banks but like you i do also love bitcoins but only for investment use  because i find it hassle to use bitcoin for payment purposes   .

btc isnt really fast because there are still confirmations to be done before your payment will be completed and tax on some countries are not also avoidabe because there are now laws for bitcoin users in which they should have to pay for thier tax  .  but aside from those , i agree that its faster to make money than in banks but the risk is only high compare to banks  .

Yes, it seems that Bitcoin transactions are done very quickly and accurately. However, it is not really popular, so it is difficult to pay with Bitcoin for your services daily. I think the bank's transactions are fast and convenient for you. But maybe the services you need are not fast enough to update

Well, there are one other way of doing this without them having to accept Bitcoin as a payment option and that is to use payment processors. I do not like this option, but it gives Bitcoin users more options to spend their coins. Payment processors convert the bitcoins to fiat currencies and the merchant does not have to deal with Bitcoin.

The problem is, if we do it this way, merchants would not need to accept Bitcoin directly and third parties gets involved and they usually add extra fees to make your overall transactions a lot more expensive.  >:(

Yes traditional banking system may sometimes make problem as their system fall but this does not happen in cryptocurrency transferring. If address is accurate then no problem to find any tokens but sometimes it also make late for block confirmations.

Here main problem is everybody is not still introduce about it and we also can not implement it in largely. But we can hope about it and waiting for batter day in near future.

Thanks.

We can't really compare bitcoin to banks because bitcoin is automatic while bank has a 3rd party to verify transaction.
In general, bitcoin is not widely acceptable yet, so whether we like it or not, bank is still very useful compared to bitcoin if use as a payment system.

We have our individual interest in life, like me, I like to gamble and when it has to pass through my bank account, it's not fast as I will just send from my bitcoin wallet, I'm just lucky that we have a lot of gambling sites there that accepts crypto already.

everything has been systemized bro and maybe that's the procedure, when late paying and finally your subscription is temporarily closed, maybe that's part of the suspend you received.

but I also agree that payments using bitcoin can happen very quickly, and it is impossible to delay unless there is maintenance.

Such a comparison is unreasonable because bitcoin is not really a professional tool for transferring money and handling services, it is just a tool that has many advantages for that process, in essence, it is still suitable for the most investment, while banks are created to serve the services, the level of professionalism and accuracy is certain, they have calculated everything and upheld the quality. So we should consider which is convenient for our needs, we should use, don't spend too much emotion and act according to our emotions

I think the argument here is not about investment or which can provide money faster rather it is on the basis on who's services or transactions is more reliable, Ofcours banks have a lot of flaws when it comes handling transactions since they deal with millions of users at the same time but they still provide the most services compare to payment system.

In as much that you hate banks, they will always be in existence and have more patronage compared to the number of people in the crypto ecosystem. The ideology behind Bitcoin in no doubt the best and reliable way to make transactions but the volatile nature of Bitcoin is preventing people with either no knowledge or less knowledge about Bitcoin to consider the use of it. In as much that banks control how people make transactions, the currencies do not fluctuate.

Why do they freeze your account if you're not doing anything wrong?

I mean freezing account are for those people who violate the law so they can't access the bank and leave the country. Actually, some of the banks accept bitcoin for money transfer, and it's very fast and helpful. Maybe the banks in your country are really poor eh'?

I see crypto as a means to turn the world around and see the inflation down on the wheel, the fiat has really cause so much devalue in the market regard but having crypto here will deflate the market by having little today and will be able to take what your present pocket could bid for in future .

indeed banks have a weakness in transfer fees and also long delivery times. but believe banks are still needed by the community, even if you like bitcoin but I think you should combine bitcoin and banks as a transaction tool

what thngs you have pointed out is just one of the reasons to love the Bitcoin network and blockchain in entirety, but have you taken a second look at the Fees they charge per transaction and how they get you to verify and reaffirm numbers to just have a valid and corresponding transaction and not mistaken it for someone else's. Then the fact that the ledger in which the transaction got recorded can be hacked and documents deleted or even altered to suit another reason. Bitcoin is second to none.

I am well aware of all the advantages that Bitcoin has over the Banking systems, but I just gave one real world scenario where Banks failed me once again. I have been a victim of Credit card fraud and I lost a lot of money that I had to pay off as debt, so I know how these @#$%& operate. <Washing their hands when you are a victim and blaming you for the loss>  >:(

It is about time that Bitcoin challenged the Banking system and the monopoly they had over people's finances. True financial freedom is more difficult and inconvenient, but it is definitely very rewarding.  ;D

I read today that if you have a bank account for 20 years and you do not even know it yourself, then according to the law, the bank may have all the money in the bank account and the account will expire without you noticing

Really? That's a strange regulation, because if we can prove our ownership legally, we should be able to leave the bank account to our descendants. This is clearly different from bitcoin, because we can claim our bitcoins in the wallet as long as we hold the private key even without any documents because it is anonymous. The bad side is that our bitcoin can be stolen by other people who know our private key

I am not aware of this, not knowing mean you haven't update your bank account, right?
In our country, there is a dormancy policy that the bank will deduct a certain amount on a regular basis like every month if your balance is below on the required maintaining balance, for deposits that are unclaimed it should go to the treasury which is a government agency.

Can you specify where this news is coming from? Like a link of an article would do.

This is the difficulty of using a bank we must always update the bank account so that not considered inactive. But their regulation is really unfair because people who use banks want to save money even though they have paid monthly fees automatically. Without notice? The government should give notice to the account holder whether it is still alive or not. I don't know if they are a good government because they have taken their own people's money without notice.

Well, in my country they also "lock" your account if the account is dormant for more than 2 months. So, they force you to make some transactions, because they generate a income from those transaction fees and you are not allowed to just leave the money in the Bank to accumulate the interest. <Normal Transmission accounts>

Where with Bitcoin you can "hoard" your bitcoins without any penalty or your Bitcoin address being locked. <That is to say, you you are not using one of these 3rd party services to access your coins.>  ::)

If that is the case then its the depositors fault because first, they settled to a bank that takes away money without them knowing, not all banks are like this and what are those that are taken away without the depositors knowledge anyway? Is it the fees? That was discussed when they opened the account, they just didn't put their attention when its being explained. However, we still need banks, its not only to store our fiat, there are other services that they offer.

For one, banks and governments won’t let you have full control over your money. Then they expect you to wait for hours at a stretch to confirm the payment made by you for something that is not even relevant now because of the time it took to confirm.
If it was only for Bitcoin, the power to transact at our free will would be safe. Secondly, banks and governments would not have a say in how and when we transact.
Also, with as good as they show themselves, it’s a rather long time to confirm a payment made 21 hours ago

There is no use in hating banks. They have the way they do their business that doesn't always suits us, often it's only for their best interest and they don't care about their clients much but still they will continue to exist for a long time. The way our societies and economies are arranged they can't survive without banks.
But in a way we have a choice and cryptocurrencies are part of that choice so use it the best you can but still you can't avoid banks completely.