[POLL] Bitcoin is just like as a Swiss Bank Acc for holding black money ??

[redsn0w]

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

[Possum577]

What does color have to do with this?

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

[twister]

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

[Anirban Sarkar]

Not at all...!! bitcoin is legal

[ammy009]

Not at all...!! bitcoin is legal

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

[Beliathon]

what are you thinking  

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

[ltcifc]

No, its not

[aso118]

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

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

[gkv9]

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

[pooya87]

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

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

[notlist3d]

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

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

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

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

[Hopalong]

what are you thinking  

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

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

[MF Doom]

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

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

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

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

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

[Herbert2020]

what are you thinking 

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

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