Bank or Bitcoin Wallet?

[neurotypical]

Currently you still need banks. Hopefully in the future its only blockchain technology and cryptocurency.

Unless a Bank of Bitcoin would be established. Such bank would offer checking and saving accounts with deposits and withdrawls made in Bitcoin. They would also offer Mortgage services and the ability to request loans. Security would be even better than ordinary banks (I think) as they would store your funds on cold storage with encrypted private keys. Just my opinion. 

 I think Xapo will go in this direction. Right now they don't offer enough services to be able to call it a "Bitcoin bank" but it's close. We still need all the special features a bank delivers. Personally I think being your own bank is still the coolest thing about Bitcoin but I understand that some people will be scared to be that responsible.

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[ajun96]

Well some parts of life I still need bank -.- but if i transfer money to other country than Bitcoin Wallet for sure. And I thik everyone well Say Bitcoin wallet.

yeah quite difficult to transfer money to another country with bank, it took a little extra information to send money, and I dont understand it,
but with bitcoin wallet just sent

[Blue_Tiger73]

I would choose the bitcoin wallet as the price is steadily rising and I would make a decent profit. If it was a long term investment, which for most people it is, I would definitely choose bitcoin wallet. If it was a short term investment on the other hand, I WOULD STILL CHOOSE BITCOIN WALLET as you might earn some profit.

[davinchi]

Well some parts of life I still need bank -.- but if i transfer money to other country than Bitcoin Wallet for sure. And I thik everyone well Say Bitcoin wallet.

yeah quite difficult to transfer money to another country with bank, it took a little extra information to send money, and I dont understand it,
but with bitcoin wallet just sent

Yes cross border money transfer is the biggest advantages people are going to experience with bitcoin, that too for very small amount of fee. There are many reasons for me too, to choose bitcoin wallet over a bank account. More over all the bank account features are inclusive within a bitcoin wallet.

[iram66680]

totally choose bitcoin wallet...easy, smooth..and the transaction fee also low
bank have so many requirement...

yeah there is no age limit, so it is very easy in bitcoin wallet

unlike in the bank, at least we should have the identification

Bitcoin is money. That's how fiat works. Who doesn't like a legalization thru identification when claiming and receiving money. That's why Bitcoin is still not accepted by all country. I think if all the country in the world will accept bitcoin, identification is one of their priority. If all transaction is anonymous do you think we are safe? Let's say bitcoin money theft. It's hard to trace.

if all the country in the world will accept bitcoin, need identifiaction but in fact bitcoin does not need identity verification,
maybe if there is verification of identity in bitcoin, many members of which will come out

Identity verification is hard to implement at protocol level as it is decentralised. If identity verification is needed and endorsed by the government, it would make it seem more legit but compromising the privacy of users at the same time. The anonymity of Bitcoin is what preventing government from adopting Bitcoin.

[Ninjaskills]

totally choose bitcoin wallet...easy, smooth..and the transaction fee also low
bank have so many requirement...

yeah there is no age limit, so it is very easy in bitcoin wallet

unlike in the bank, at least we should have the identification

Bitcoin is money. That's how fiat works. Who doesn't like a legalization thru identification when claiming and receiving money. That's why Bitcoin is still not accepted by all country. I think if all the country in the world will accept bitcoin, identification is one of their priority. If all transaction is anonymous do you think we are safe? Let's say bitcoin money theft. It's hard to trace.

if all the country in the world will accept bitcoin, need identifiaction but in fact bitcoin does not need identity verification,
maybe if there is verification of identity in bitcoin, many members of which will come out

Identity verification is hard to implement at protocol level as it is decentralised. If identity verification is needed and endorsed by the government, it would make it seem more legit but compromising the privacy of users at the same time. The anonymity of Bitcoin is what preventing government from adopting Bitcoin.

yeah cut both ways, so Identity verification cant implement to bitcoin ?
but any exchanger who must identity verification to sign up, it is included ?

[Small]

totally choose bitcoin wallet...easy, smooth..and the transaction fee also low
bank have so many requirement...

yeah there is no age limit, so it is very easy in bitcoin wallet

unlike in the bank, at least we should have the identification

Bitcoin is money. That's how fiat works. Who doesn't like a legalization thru identification when claiming and receiving money. That's why Bitcoin is still not accepted by all country. I think if all the country in the world will accept bitcoin, identification is one of their priority. If all transaction is anonymous do you think we are safe? Let's say bitcoin money theft. It's hard to trace.

if all the country in the world will accept bitcoin, need identifiaction but in fact bitcoin does not need identity verification,
maybe if there is verification of identity in bitcoin, many members of which will come out

Identity verification is hard to implement at protocol level as it is decentralised. If identity verification is needed and endorsed by the government, it would make it seem more legit but compromising the privacy of users at the same time. The anonymity of Bitcoin is what preventing government from adopting Bitcoin.

yeah cut both ways, so Identity verification cant implement to bitcoin ?
but any exchanger who must identity verification to sign up, it is included ?

They are different from bitcoins. Those exchanges are services which can verify the identity but trust is required on them. with bitcoins, it is a trustless system and I can't think of ways to implement it at protocol level either.

[lixer]

Well some parts of life I still need bank -.- but if i transfer money to other country than Bitcoin Wallet for sure. And I thik everyone well Say Bitcoin wallet.

yeah quite difficult to transfer money to another country with bank, it took a little extra information to send money, and I dont understand it,
but with bitcoin wallet just sent

Yes cross border money transfer is the biggest advantages people are going to experience with bitcoin, that too for very small amount of fee. There are many reasons for me too, to choose bitcoin wallet over a bank account. More over all the bank account features are inclusive within a bitcoin wallet.

There are lots of advantages we can enjoy with bitcoin transactions. One of them is cross-border money transfer facility. But we cannot get all the features from a bank account so I also will pick bitcoin over bank account I need to choose from.

[makcik]

I'll choose bitcoin wallet here, because of following reasons.
(1) No hassle of credit or debit cards, it's completely wireless.
(2) No hassle of cash, so no fear of getting robbed or stolen, so you get complete safety.
(3) saves time, no need to go to ATM to fill your wallet, your money is always in your bitcoin wallet
(4) And, lastly, no fear of fraud

[anthonycamp]

for quick cash of course banks theres no implementation good into the BTC atm cashouts still

[jakelyson]

I prefer to have both. Bitcoin for investment because bitcoin price is currently going up. And bank accounts for my everyday normal needs. Though I will not keep my money sleeping in the bank because I will loose it in inflation. I just maintain enough money to cover emergency needs.

[Ninjaskills]

I prefer to have both. Bitcoin for investment because bitcoin price is currently going up. And bank accounts for my everyday normal needs. Though I will not keep my money sleeping in the bank because I will loose it in inflation. I just maintain enough money to cover emergency needs.

you can try bitcoin for everyday purposes, now there is a bitcoin debit card,
I have not tried it, but it sounds interesting

[Pierre 2]

Bitcoin is too much safer than banks I believe. It contains offline wallet option so it is so much better than banks' hackable systems.

[ranochigo]

I prefer to have both. Bitcoin for investment because bitcoin price is currently going up. And bank accounts for my everyday normal needs. Though I will not keep my money sleeping in the bank because I will loose it in inflation. I just maintain enough money to cover emergency needs.

you can try bitcoin for everyday purposes, now there is a bitcoin debit card,
I have not tried it, but it sounds interesting

Bitcoin debit card allows users to load it into the service for the user to use. I don't particularly like this idea though. By loading it, you are giving your Bitcoins to the service which isn't secure. They can run away or the debit card service can stop supporting them due to their local regulations.

[jt byte]

I prefer to have both. Bitcoin for investment because bitcoin price is currently going up. And bank accounts for my everyday normal needs. Though I will not keep my money sleeping in the bank because I will loose it in inflation. I just maintain enough money to cover emergency needs.

you can try bitcoin for everyday purposes, now there is a bitcoin debit card,
I have not tried it, but it sounds interesting

Bitcoin debit card allows users to load it into the service for the user to use. I don't particularly like this idea though. By loading it, you are giving your Bitcoins to the service which isn't secure. They can run away or the debit card service can stop supporting them due to their local regulations.

Well this is the only way to use these bitcoin debit cards.
Some services allows you to not convert immediately the bitcoin into fiat to use after.
But simple you leave bitcoin as it is and then if you withdraw from ATM at that moment the exchange rate is taken.

[Luqman]

I chose Bank, we'll know how fluctuative Bitcoin price's is..

[ranochigo]

I prefer to have both. Bitcoin for investment because bitcoin price is currently going up. And bank accounts for my everyday normal needs. Though I will not keep my money sleeping in the bank because I will loose it in inflation. I just maintain enough money to cover emergency needs.

you can try bitcoin for everyday purposes, now there is a bitcoin debit card,
I have not tried it, but it sounds interesting

Bitcoin debit card allows users to load it into the service for the user to use. I don't particularly like this idea though. By loading it, you are giving your Bitcoins to the service which isn't secure. They can run away or the debit card service can stop supporting them due to their local regulations.

Well this is the only way to use these bitcoin debit cards.
Some services allows you to not convert immediately the bitcoin into fiat to use after.
But simple you leave bitcoin as it is and then if you withdraw from ATM at that moment the exchange rate is taken.

You are still going to pay high fees for that. Taking Bitx as an example, activation alone costs $9 assuming you are not going to pay $99 for a named white card and the ATM fees is ridiculously high too. If you don't reside in a non restricted country or want an anonymous card, POS fees and there would be much lower limits.

Withdrawing from an exchange to your bank account is a much better idea.

[jt byte]

I prefer to have both. Bitcoin for investment because bitcoin price is currently going up. And bank accounts for my everyday normal needs. Though I will not keep my money sleeping in the bank because I will loose it in inflation. I just maintain enough money to cover emergency needs.

you can try bitcoin for everyday purposes, now there is a bitcoin debit card,
I have not tried it, but it sounds interesting

Bitcoin debit card allows users to load it into the service for the user to use. I don't particularly like this idea though. By loading it, you are giving your Bitcoins to the service which isn't secure. They can run away or the debit card service can stop supporting them due to their local regulations.

Well this is the only way to use these bitcoin debit cards.
Some services allows you to not convert immediately the bitcoin into fiat to use after.
But simple you leave bitcoin as it is and then if you withdraw from ATM at that moment the exchange rate is taken.

You are still going to pay high fees for that. Taking Bitx as an example, activation alone costs $9 assuming you are not going to pay $99 for a named white card and the ATM fees is ridiculously high too. If you don't reside in a non restricted country or want an anonymous card, POS fees and there would be much lower limits.

Withdrawing from an exchange to your bank account is a much better idea.

Well the fees are really high for these debit cards,
The two ones that i regularly check are xapo and bit-x and seems the fees are a bit high.
Also another fee is the exchange fee when you want to withdraw money from ATM or making online purchasing.

[pjsonowal]

i prefer both stand best in their ways. In case if i need fund in emergency i can go to bank and withdraw it and if i need to pay a bill online then secure bitcoin wallet is the safest option.

[TTMNewsMJ]

I will choose the bitcoin wallet.