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addy boy (OP)
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October 04, 2015, 05:05:29 PM |
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what you will chose amomg them.and why do the banks are afraid of bitcoin.why banks are not much smooth and faster like bitcoin.if banks start accepting bitcoin as payments then will it became a revolutionary for us?can bank can solve our mining or money curculation probems.
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The network tries to produce one block per 10 minutes. It does this by automatically adjusting how difficult it is to produce blocks.
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sana9821
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October 04, 2015, 05:37:00 PM |
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i would choose to use bitcoin wallet and have all my money as bitcoins though bitcoin price is really fluctuating so it would be a little bit risky i guess
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apriyani420
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October 04, 2015, 05:44:44 PM |
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i wouldnt risk using bitcoin wallet banks are still pretty reliable and im not thinking about changing it to bitcoin paper wallet or so theres no need for me to do that
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VirosaGITS
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Activity: 1302
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October 04, 2015, 09:13:28 PM |
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what you will chose amomg them.and why do the banks are afraid of bitcoin.why banks are not much smooth and faster like bitcoin.if banks start accepting bitcoin as payments then will it became a revolutionary for us?can bank can solve our mining or money curculation probems.
...for what?  If you want to hold currency for a long time, Bitcoin is probably better, since FIAT is subject to inflation and also can go up or down, just like BTC. So what do you want to do with that currency? What is your goal? Because the proper answer depend on what you're trying to do. |
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Mickeyb
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October 04, 2015, 09:32:00 PM |
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Each and every person will have to decide do they trust more a bank or a Bitcoin and how much. If you trust 100% Bitcoin then I guess you have already converted all your Fiat into the BTC. I warn you though, don't close your bank account yet, because you still can't live without one, at least for now.  Why are banks afraid? Banks love control and to hide things sometimes. On the other side Bitcoin is all about giving this control to every user out there and also to have full transparency, not to hide anything. |
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tiggytomb
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October 04, 2015, 09:35:43 PM |
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Both, you still need banks to live your life and pay the bills and everyday things but you can keep Bitcoin as a long term investment.
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prodigy8
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October 04, 2015, 09:37:04 PM |
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what you will chose amomg them.and why do the banks are afraid of bitcoin.why banks are not much smooth and faster like bitcoin.if banks start accepting bitcoin as payments then will it became a revolutionary for us?can bank can solve our mining or money curculation probems.
Not all people use bitcoin to send or receive payments. The number of people is very small comparing to number of people that use banks. I think to use both of them, bitcoin mostly if you use it more often and bank for rare transaction. |
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ACAB
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October 04, 2015, 10:22:37 PM |
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Corrupt government can seize your bank accounts but can't seize your Bitcoin if you are smart enough.
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prodigy8
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October 04, 2015, 10:25:32 PM |
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Corrupt government can seize your bank accounts but can't seize your Bitcoin if you are smart enough.
I don't know if you have seen that a forum member's bitcoin funds has been seized. As the deal was through localbitcoin and "was not legal" it is a thread here but can't remember right now He is legendary and you can read his story, i think username burw or similar like that. But i think bitcoin is much better that banks but both have pros and cons. |
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VirosaGITS
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October 04, 2015, 10:28:47 PM |
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Corrupt government can seize your bank accounts but can't seize your Bitcoin if you are smart enough.
I don't know if you have seen that a forum member's bitcoin funds has been seized. As the deal was through localbitcoin and "was not legal" it is a thread here but can't remember right now He is legendary and you can read his story, i think username burw or similar like that. But i think bitcoin is much better that banks but both have pros and cons. Bank is more practical because its the system everything is built around, but Bitcoin solve so many issues and concerns with Fiat and especially country-specific Fiat that it has its place alongside common currency for sure. Depending on what you plan is for your currency. Bank AND a Bitcoin wallet is probably the way to go. If its something specific like holding over a long time, it is probably best to use cold storage bitcoin wallet. |
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ashour
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October 04, 2015, 10:33:58 PM |
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Without hesitation I would pick bitcoin for one simple reason. Banks can freeze my account and money, but with bitcoin no one can freeze your coins.
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Meuh6879
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October 05, 2015, 12:27:32 AM |
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busyviable
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October 05, 2015, 12:31:51 AM |
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Without hesitation I would pick bitcoin for one simple reason. Banks can freeze my account and money, but with bitcoin no one can freeze your coins.
Agreed, within a bank a normal account is insured up to a certain amount of money contained and then they would just lock you out. Its up to you to keep up to date with your funds within banks with with bitcoin you have peace of mind knowing that nothing like this can ever happen, although it is up to you that your coins are secure!  |
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christycalhoun
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October 05, 2015, 12:40:32 AM |
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You need to keep both so you can pay your bills and eat. A bitcoin wallet is a good backup plan but you need cash reserves to live life.
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Zverev
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October 05, 2015, 12:58:04 AM |
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You need to keep both so you can pay your bills and eat. A bitcoin wallet is a good backup plan but you need cash reserves to live life.
Outside of the US you no longer require a bank account for your day to day transactions. All shopping and bill payments can be done with BTC |
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--Encrypted--
Copper Member
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hee-ho.
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October 05, 2015, 01:02:38 AM |
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with banks, you are trusting them to keep your money. with bitcoin wallet, you only need to trust yourself and no one else. personally I'd go with bitcoin wallet, but most people still needs banks.
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jeffthebaker
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October 05, 2015, 01:03:45 AM |
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For storing your money?
Let's not fool ourselves. Banks are infinitely safer at this point in time. Sure, we can all spread FUD about how evil and insecure they are, but in a bank, our money is Federally ensured regardless of the circumstance.
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Zverev
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October 05, 2015, 01:10:37 AM |
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For storing your money?
Let's not fool ourselves. Banks are infinitely safer at this point in time. Sure, we can all spread FUD about how evil and insecure they are, but in a bank, our money is Federally ensured regardless of the circumstance.
Tell that to a Cypriot or Greek |
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jeffthebaker
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October 05, 2015, 01:12:01 AM |
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For storing your money?
Let's not fool ourselves. Banks are infinitely safer at this point in time. Sure, we can all spread FUD about how evil and insecure they are, but in a bank, our money is Federally ensured regardless of the circumstance.
Tell that to Cypriot or Greek My apologies, sometimes I forget this is a global forum. I cannot speak for everyone on earth, but in the United States, your money deposited into banks are Federally ensured (up to $250,000 I believe). This is infinitely more secure than the 0 insurance associated with a Bitcoin wallet. |
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Zverev
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October 05, 2015, 01:29:09 AM |
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For storing your money?
Let's not fool ourselves. Banks are infinitely safer at this point in time. Sure, we can all spread FUD about how evil and insecure they are, but in a bank, our money is Federally ensured regardless of the circumstance.
Tell that to Cypriot or Greek My apologies, sometimes I forget this is a global forum. I cannot speak for everyone on earth, but in the United States, your money deposited into banks are Federally ensured (up to $250,000 I believe). This is infinitely more secure than the 0 insurance associated with a Bitcoin wallet. And when the banks introduce negative interest rates to save themselves again? |
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