Bank or Bitcoin Wallet?

[hendra147]

I don't know how you can live off bitcoin alone.For the time being having a bank account is a necessity.
For example,where I work you have to have your paycheck deposited directly into a bank account.
Maybe in the future, employers will offer us to get paid in bitcoin, whether it be the full amount or just a certain percentage, to our discretion.

in fact some company using bitcoin as his salary too, of course the amount of bitcoin is depending about his "real salary and the bitcoin price" , but we still need bank for withdrwa our bitcoin, because today is very hard to found  bitcoin ATM.

[Hide_ip112]

I don't know how you can live off bitcoin alone.For the time being having a bank account is a necessity.
For example,where I work you have to have your paycheck deposited directly into a bank account.
Maybe in the future, employers will offer us to get paid in bitcoin, whether it be the full amount or just a certain percentage, to our discretion.

in fact some company using bitcoin as his salary too, of course the amount of bitcoin is depending about his "real salary and the bitcoin price" , but we still need bank for withdrwa our bitcoin, because today is very hard to found  bitcoin ATM.

Bank and wallet bitcoin is something of the same thing and need each other, if I am wrong then I will give you your laptop (up to me) so I get some household things inside you. If you want something extraordinary then your bitcoin wallet and bank will follow

[ontrackk]

I prefer bitcoin wallet, even there is a lot of security breach lately, like bitfinex being hacked, i still believe bitcoin wallet is safer than bank, i feel we have the total control when we used the wallet, we can set the level of the security that we want, so i feel a lot safer to use bitcoin wallet than using bank

Yes, bitcoin wallet seems more safer than banks though there was an issue of security breach on bitfinex but still it is more safer. I have heard of many bank companies that was being hacked  by a clever guy and still there is a continuous hacking on every part of the world.  Bitcoin wallet is made by a programmer so definitely he took some measures on the program.

Maybe bitcoin wallet is safer than a bank, but not as a bank which guarantees its customers money. Because in my country if the bank loses money or hacked and it was purely a mistake the bank, the bank will reimburse us the appropriate limit in the Promised. Bitcoin wallet was created by programmers, but that does not mean it is 100% unbreakable because it is man-made.

Bank is more safer than bitcoin because bank has an insurance and we are divulging our personal information so we could get the insurance once the bank closes or being robbed, while in bitcoin it is very risky since if your account is hack that is good as a gone money.

i feel safer for my bitcoins being in my wallet rather than using a bank to store my money. i don't even need to provide personal informations in bitcoin unlike the bank which will require too many personal informations. the only good thing i see for the bank is i can take my money from ATM anytime i want

You feel safe but in reality you are on risky if you put your money in bitcoin, but in the bank you lessen the risk you have because of their insurance you do not afraid to put all your money in the bank.

its not risky at all, it is impossible to hack your cold storage while banks can easily go bankrupt and steal all your money, thats why i hate it

[bitdumper]

from the security mesures banks use phyical security which can be robbed if tryed harded and bitcoin uses a vertually encrypted security which is strong but is crackable but as because its like gussing a private key in 3-4year and also we don't know that it will have balance in it or not

[daneranon89]

50 pecent bank and 50 bitcoin! how about that ?!? 

[Doamader]

To save bitcoins i would for sure use bitcoin wallet, if the interest is raise the savings as well , if i try bank for others services well it has its advantages, something that bitcoin cant offer. Soo both has its advantages but in the end its better you control your own money to let others do that for you.

[reb0rn21]

Depend in which state you are, If I had bank account is swiss and could easy deposit sure I would keep 70% there and 30% my hardware or paper wallet
But if you are from some third world state, like I am then its 98% BTC and 1% bank

[Youresioure]

It's a though question. Both has many advantages and disadvantages compared to each other. In reality, I'm using both, but my preference's a Bitcoin Wallet because I feel more like in control at a BTC wallet. At a Bank, I can't help if the Bank collapses.

[richardsNY]

from the security mesures banks use phyical security which can be robbed if tryed harded and bitcoin uses a vertually encrypted security which is strong but is crackable but as because its like gussing a private key in 3-4year and also we don't know that it will have balance in it or not

We as people are responsible for the security of our wallet files containing our coins. This has nothing to do with the client itself. First of all, you should secure your wallet file with a strong and long passphrase. Best is to use a string of mixed letters, numbers, and symbols. On top of that you can even choose to encrypt your wallet file. It means you have an extremely safe wallet file where no hacker can get into.

[0day]

I don't know how you can live off bitcoin alone.For the time being having a bank account is a necessity.
For example,where I work you have to have your paycheck deposited directly into a bank account.
Maybe in the future, employers will offer us to get paid in bitcoin, whether it be the full amount or just a certain percentage, to our discretion.

in fact some company using bitcoin as his salary too, of course the amount of bitcoin is depending about his "real salary and the bitcoin price" , but we still need bank for withdrwa our bitcoin, because today is very hard to found  bitcoin ATM.

It is true but if everyone start to accept bitcoin and when we will be able to do shopping with bitcoin then I think we do not need to withdraw our money from bank as fiat, we will be satisfied with bitcoin alone.

[goldcoinminer]

I don't know how you can live off bitcoin alone.For the time being having a bank account is a necessity.
For example,where I work you have to have your paycheck deposited directly into a bank account.
Maybe in the future, employers will offer us to get paid in bitcoin, whether it be the full amount or just a certain percentage, to our discretion.

in fact some company using bitcoin as his salary too, of course the amount of bitcoin is depending about his "real salary and the bitcoin price" , but we still need bank for withdrwa our bitcoin, because today is very hard to found  bitcoin ATM.

It is true but if everyone start to accept bitcoin and when we will be able to do shopping with bitcoin then I think we do not need to withdraw our money from bank as fiat, we will be satisfied with bitcoin alone.

Banks will be useless and people will be losing their jobs, bitcoin will gives us the comfort to transact anytime of the day and world would be a better place to live as a lot of savings will be generated by individual due to cheap or free transaction cost.

[jostorres]

I don't know how you can live off bitcoin alone.For the time being having a bank account is a necessity.
For example,where I work you have to have your paycheck deposited directly into a bank account.
Maybe in the future, employers will offer us to get paid in bitcoin, whether it be the full amount or just a certain percentage, to our discretion.

Yes right now bitcoin still is not that much popular all around the world so first of all every body gets their salary mostly in fiat and in their bank account.So right now banks are the preferred option over bitcoin wallet.

Yes indeed, the bank is more popular than the bitcoin. Here a lot of people using bitcoin wallet also use bank. Bank better to save money while bitcoin wallet for investment. Both have different functions depending.

Banks and bitcoin wallet is not very comparable, simply because money and bitcoin isn't the same. For bitcoin, it is value changes because of it is high volatility while in fiat, it is value is as it is and it feels much safer to have your assets in a constant value. But like many bitcoin traders you want to make their future out of bitcoin's fluctuations, this is not a concern obviously, I am also one of them, still having both bitcoin and bank wallet for obvious reasons.

[agamasrori]

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.

Yes i agree with you. Choosing banks or bitcoin wallet is depend on what the goal. Fiat is bad for investments becouse it fluctuations. But I still need fiat for daily life because no one accepting bitcoin in my city at now. I hope bitcoin will accepted everywhere in the future. And I think bank's scared about bitcoin because the P2P technology, isn't it?

[Orion25]

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.

Yes i agree with you. Choosing banks or bitcoin wallet is depend on what the goal. Fiat is bad for investments becouse it fluctuations. But I still need fiat for daily life because no one accepting bitcoin in my city at now. I hope bitcoin will accepted everywhere in the future. And I think bank's scared about bitcoin because the P2P technology, isn't it?

What choice do people or what they desire about the world financial system, and to whom they can entrust their money, very different. But even if all will vote against the banks, it does not mean that the Bank is passed. Banks were, are and will be.

[livinglegend]

Both may be useful in different situations, IMO.

[equator]

I will prefer both options, as for living in real world you need bank for doing the fiat currency work, where you cannot work out with bitcoins, bitcoins are online currency which are still not used in physical condition, so it may consider as investment for future expenses or assets.

[X-ray]

It's a though question. Both has many advantages and disadvantages compared to each other. In reality, I'm using both, but my preference's a Bitcoin Wallet because I feel more like in control at a BTC wallet. At a Bank, I can't help if the Bank collapses.

you could avoid the bank collapses when you just heared that they're going to collapse,so it's not the problem with the bank,though the bank will be rarely collapse as it's still growing its invested money for interest,you know what bank is like robber to gain as much money as they could

[Cuhua-hua]

It's a though question. Both has many advantages and disadvantages compared to each other. In reality, I'm using both, but my preference's a Bitcoin Wallet because I feel more like in control at a BTC wallet. At a Bank, I can't help if the Bank collapses.

you could avoid the bank collapses when you just heared that they're going to collapse,so it's not the problem with the bank,though the bank will be rarely collapse as it's still growing its invested money for interest,you know what bank is like robber to gain as much money as they could

I think it is indeed the BANK will not collapse or crumble due to the emergence of the bitcoin. Maybe in the future the BANK will increasingly determine conditions or situations happen, because the BANK is a place that is very important for the progress of each country. If the State does not have a bank then the financial system they will be messy and it will create a chaotic economy

[freedomgo]

I will prefer both options, as for living in real world you need bank for doing the fiat currency work, where you cannot work out with bitcoins, bitcoins are online currency which are still not used in physical condition, so it may consider as investment for future expenses or assets.

Since bitcoin are unstable right now in terms of price, I would not call it as currency but as an investment. I love to invest in risky things that has a good potential in the future particularly bitcoin as I am a believer that in the future digital currency will rule. I only use bank for savings but for investment I rely on bitcoin.

[goinmerry]

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.

Actually I agree with you when it comes to security. Specially, those who are just relying in bitcoin wallets online. Those who dont have their own personal computer is at risk with their bitcoins all over the wallets. Even the known "put in many baskets" is at risks if a full blown downtime will happen.