Bank or Bitcoin Wallet?

[kyrios_]

My bank account gives me interest. All tough it is not a whole lot it gives me a solid reason to choose for my bank account.
Having your money sit there and earning on interest is a great feature, no other bitcoin wallet provider offers this at this moment.

I can be big if they develop a non-scam lending platform.

There is no such thing, you have to avoid being scammed, thats not the lending platfoms job. If its their job then they will keep most of the profit, in which case they will be the middleman again.

You could do P2P lending if you can avoid being scammed.

Some trading exchanges offer margin fundings. You can put your bitcoin/usd there up for loan for those people who open margin postitions. Relatively safe way of lending

it's very effective to avoid being scammed, but it doesn't trust your safety if the people you want to loan is a bad people
lot of risk if you want to use P2P or Trusting other people Online

Actually the system is pretty neat. Basically what happens is that the person opening a position puts up lets say 30% of the total trade size and borrows 70% from whatever is the lowest rate offered. If that position loses money, the exchange will forcefull close the position and pays back the lender whatever he has owned. So you cannot get scammed in that sense. Furthermore, you do not know who you are lending to, you just put up a daily rate and the system just matches you to a borrower. One case that you can lose your btc is when the exchange goes down or if there is a huge flash crash which causes a lot of margin calls basiclally destroying everything

[RealBitcoin]

it's very effective to avoid being scammed, but it doesn't trust your safety if the people you want to loan is a bad people
lot of risk if you want to use P2P or Trusting other people Online

But if you rely on another service to determine credible borrowers then they will take a fee for that.

You can keep all profits if you can determine on your own, to whom to loan money, and to whom not.

[gkv9]

it's very effective to avoid being scammed, but it doesn't trust your safety if the people you want to loan is a bad people
lot of risk if you want to use P2P or Trusting other people Online

But even in Banking sector, you can't avoid being scammed as the only thing you will have as safety measure is that, the goods and property available by the borrower to the lender that people don't get in BTC based P2P loans...

[Xexen4]

more than needed i invest to btc but bank is my first priority

[Ryananda]

more than needed i invest to btc but bank is my first priority

Ya better bitcoin in traded online or transferred to a bank account to be safe. Because I still feel worried if menyimpat bitcoin wallet too long at this address, because it is highly vulnerable to hacking

[HarHarHar9965]

it's very effective to avoid being scammed, but it doesn't trust your safety if the people you want to loan is a bad people
lot of risk if you want to use P2P or Trusting other people Online

But even in Banking sector, you can't avoid being scammed as the only thing you will have as safety measure is that, the goods and property available by the borrower to the lender that people don't get in BTC based P2P loans...

Yeah you are right Dude. Scamming is everywhere We have to be bit careful about that.If it is a bitcoin or banking system Everything is We need better Privacy system. That We can get better privacy system than bank by bitcoin.Because We are handling our own banking system. This will not be happen any saving system.

[gkv9]

it's very effective to avoid being scammed, but it doesn't trust your safety if the people you want to loan is a bad people
lot of risk if you want to use P2P or Trusting other people Online

But even in Banking sector, you can't avoid being scammed as the only thing you will have as safety measure is that, the goods and property available by the borrower to the lender that people don't get in BTC based P2P loans...

Yeah you are right Dude. Scamming is everywhere We have to be bit careful about that.If it is a bitcoin or banking system Everything is We need better Privacy system. That We can get better privacy system than bank by bitcoin.Because We are handling our own banking system. This will not be happen any saving system.

The only thing you have as an advantage in Bitcoin against banks is that, you have your own choice whether to "lend and get scammed or not"...
But  "Private" Banks won't ask you before giving your money to any big firm and if that firm gets shut down, it's the Bank's fault and that's the biggest disadvantage which is why Bitcoins are better...

[Otherguylb]

Depends. Bank is safer but on the other hand offers you lot of services that drain your money. If you don't use bank in any other way, and just save your money there, then bank wallet is better for sure. But I use BTC wallet on every opportunity.  

[Amph]

Depends. Bank is safer but on the other hand offers you lot of services that drain your money. If you don't use bank in any other way, and just save your money there, then bank wallet is better for sure. But I use BTC wallet on every opportunity.  

bank is also tracked, for every movement, with bitcoin you can move million and no one will notice it

if for example you move million on dollar in fiat to another friend abroad, i'm sure it will cause some trouble, no matter if you declared it or not

[calkob]

bank account because i have to, bitcoin wallet when i can have the freedom to choose.  Unfortunatly we arnt there yet

[kyrios_]

Depends. Bank is safer but on the other hand offers you lot of services that drain your money. If you don't use bank in any other way, and just save your money there, then bank wallet is better for sure. But I use BTC wallet on every opportunity.  

bank is also tracked, for every moment, with bitcoin you can move million and no one will notice it

if for example you move million on dollar in fiat to another friend abroad, i'm sure it will cause soem trouble, no matter if you declared it or not

Technically, itll still appear on the blockchains. Since there are only that many people with that much bitcoin, such a move may be more traceable in reality

[ajun96]

I use bank to save up most of my money, because it's still protected by the goverment if it got robbed
In Bitcoin? only a little bit, because no one is going to protect you if your wallet is stolen.

lol, the government will not interfere your problems in the bank, the government has nothing to do with this, if you robbed a bank account, of course that would be responsible are the banks, they will block the hacked accounts and give the money back for you

[Arcteryx]

Bank charges service charges that cost as much as the money some people have in their bank accounts.
They just use them to get their pay cheques deposited then withdraw them as soon as they hit the account. Leaving hardly anything left.
With a bitcoin wallet you can decide how much of a fee you want the miners to garish off your sending amount. So +1 for bitcoin wallet on that point 

[Palinanv]

Both, only because you need Bitcoin holding to grow. Then you sell it and put the earnings in the bank to gain added interest.

[BeGoods]

I use bank to save up most of my money, because it's still protected by the goverment if it got robbed
In Bitcoin? only a little bit, because no one is going to protect you if your wallet is stolen.

do you think the bank would like PayPal to refund all your money stolen?
if the thief, has attracted money, you and the bank can not do anything, other than to report to the police

[MTBTT]

Both, only because you need Bitcoin holding to grow. Then you sell it and put the earnings in the bank to gain added interest.

yeah both is good, but here the choice is the bank or the bitcoin wallet you have to choose one,
if I am, of course at this time. I would opt for the bank, because I can use it for any purpose,
in contrast with bitcoin which is still limited to use

[umaOuma]

Both, only because you need Bitcoin holding to grow. Then you sell it and put the earnings in the bank to gain added interest.

yeah both is good, but here the choice is the bank or the bitcoin wallet you have to choose one,
if I am, of course at this time. I would opt for the bank, because I can use it for any purpose,
in contrast with bitcoin which is still limited to use

That's true, but I would surely choose bitcoins over bank, as there are no public or holidays when it comes to bitcoin transaction, I can transact at any time, and when it comes to bank we need to follow their rules and regulations, pay them fees etc, and I don't have control on my money if my money is with bank.

[dk8218]

I would choose bitcoin wallet... blockchain the best in my opinion....
Blockchain is also as like as a bank... some risky
if you want interest as same as bank.. then try some investment site... but in my opinion it is risky
And don't mix bank with bitcoins...
Otherwise there won't be any bank... only online bitcoin sites :v

[blackmachinegun]

more than needed i invest to btc but bank is my first priority

Ya better bitcoin in traded online or transferred to a bank account to be safe. Because I still feel worried if menyimpat bitcoin wallet too long at this address, because it is highly vulnerable to hacking

besides unsafe as well, we cannot use bitcoin wallet it completely, you know there are still a few who accept bitcoin as a payment option,
so I prefer to exchange it into fiat money and put it in the bank

[lixer]

I would choose bitcoin wallet... blockchain the best in my opinion....
Blockchain is also as like as a bank... some risky
if you want interest as same as bank.. then try some investment site... but in my opinion it is risky
And don't mix bank with bitcoins...
Otherwise there won't be any bank... only online bitcoin sites :v

But, both are necessary and hold their own importance. I buy bitcoins using fiat cash and sell them as well for fiat cash via bank accounts. Without banks being involved, it's difficult to trade in bitcoins and earn and hence both are important equally.