Banks are Pigs

Quote from: Netpyder on March 11, 2015, 10:30:30 PM

take those bloody banks out Cheesy

we need a bitcoin bank.. and we need that badly.

and godaddy gotta start accepting bitcoin payments.

crypto will help many online users.

but physical system will lose business and we have to agree tax keeps a country alive.

Bitcoin bank? So in this institution, bitcoin is regulated by and controlled by a few people am I right? A bank is against Bitcoin's concept. What we really need is the merchants' support on bitcoin by integrating BTC into their business, not another bank.

Hello dear,

Use the bitcoin payment next time and all will be good
If the domain worth 75% than pay it.
If not buy new domain from namechep

SEPA transfers to the exchanges can cost €5 too. So all in all yeah it's pretty disgusting how much they charge.

Quote from: polynesia on March 07, 2015, 03:32:09 PM

These flat transaction fees can be killers for micro-transactions.
Banks haven't really understood the competition they face from Bitcoin. They will cut fees in due course.

Yeah well they dont care about minor transactors, if you want to wire transfer 1$ at a time to people then they dont let you waste their servers with such a low price transfer...

Also it can be an anti-money laundering mechanism too. Since banks only report transactions above 1000$ or € i think so if some criminal transacts 2-3$ at a time with 1 cent transaction fee then it can be laundered...

That is why micro transactions are discouraged... However because of a few criminals, everyone suffers though, which is an idiot logic, i`d rather let those criminals do whatever they want, so that other people would have back their freedom, because suppose how many poor people can't transaction small sums because of a few gangsters.

Speaking of which, probably all organized crime is already tied to politicians, so this AML rules are silly and bullcrap and hypocrite, better give people freedom because we already know who are the biggest criminals here...

Quote from: GreenStox on March 13, 2015, 10:51:57 PM

It definitely is something to do with cost. Banks hate voluminous, low-value transactions.

As far as anti-money laundering mechanisms are considered, banks have to be vigilant in any case. Multiple, low-value transactions below the reporting threshold are flagged. So if $1000 is the threshold, and you think you can get away with 5 x $200 transactions, you are wrong. The onus is on the banks to still flag these transactions, evaluate them and report them if they think there is no business reason behind these transactions.

Quote from: Joohansson on March 06, 2015, 06:43:21 AM

I'm about to pay an invoice for a domain. It cost $10/ year but the bank take $7.5 in transfer fee.
75% in fee Huh

That is ridiculous and this is why Bitcoin will succeed in the long run.

First of all I got the impression that you are talking about international transfer of money. It will be virtually impossible to have that much of a fee with only local money transfer, unless of course your Bank is robbing you. Secondly I think that this fee is fixed so that mean that for transferring $100 or $500 bank is probably still charging only $7.5 fee so it is not that big of a deal when you are processing large sum of money.

Quote from: aso118 on March 14, 2015, 01:28:49 AM

Quote from: GreenStox on March 13, 2015, 10:51:57 PM

Well first of it it isnt, i mean it's all done electronically we are not in the 60's anymore. If takes 1 milisecond of computer processing to clear a 1$ order, plus if you charge comissions you already block malicious flooding (for example 1 guy transfering 1 $ back and forth just to slow down the system) because the comission will eat away his capital if he does that too many times.

Secondly, this AML rules are just silly. I pointed out the irony in it, if you think a few grandmas sending 2-3$ to their grandchildren are terrorists or part of an organized crime network then you are naive or ignorant (and i`m not talking about you, so no offence meant). Because you just restrict the freedom of normal people (like 99.999% of the polulation) to prevent a few criminals do something (0.001% of the pop) is very silly.

Also if you think about it, the only maffia here are the politicians, they are part of the real organized crime network called government: who counterfeit money (QE program & fractional reserve banking), steal money (taxation),harass people (inspection), all these criminal activities whitewashed just because many of the people think they are the good guys, when they are not, yet their legitimacy is never questioned though...

Quote from: GreenStox on March 14, 2015, 07:42:01 PM

Secondly, this AML rules are just silly. I pointed out the irony in it, if you think a few grandmas sending 2-3$ to their grandchildren are terrorists or part of an organized crime network then you are naive or ignorant (and i`m not talking about you, so no offence meant). Because you just restrict the freedom of normal people (like 99.999% of the polulation) to prevent a few criminals do something (0.001% of the pop) is very silly.

Also if you think about it, the only maffia here are the politicians, they are part of the real organized crime network called government: who counterfeit money (QE program & fractional reserve banking), steal money (taxation),harass people (inspection), all these criminal activities whitewashed just because many of the people think they are the good guys, when they are not, yet their legitimacy is never questioned though...

The AML rules are framed by governments not banks.

Governments would always err on the side of caution when faced with the question of too much surveillance/reporting versus too less. They make the rules they are comfortable playing with.

If people really know how an Banks system works, BTC value will be at least $5K today.

Quote from: Joohansson on March 06, 2015, 06:43:21 AM

I'm about to pay an invoice for a domain. It cost $10/ year but the bank take $7.5 in transfer fee.
75% in fee Huh

That is ridiculous and this is why Bitcoin will succeed in the long run.

Yes and thats not new to me at all.
Also, sometimes fee is less, depends of (as they describe) what you're paying online.
Was funny to me, so I declared all my online transactions as "Donation" and they give only minimum fee of 0.5% on transaction + 0.2% on banks taxes.