Bank or Bitcoin Wallet?

[bias]

keeping money with a bank would be a safe and prudent decision because there are no uncertainties of Fiat losing or gaining value while keeping your money in bitcoin would be a gain or loss for us

[1Referee]

keeping money with a bank would be a safe and prudent decision because there are no uncertainties of Fiat losing or gaining value while keeping your money in bitcoin would be a gain or loss for us

If you keep for example $1,000,000 in your bank account for 10 years, then the amount will remain the same, but the value of that $1,000,000 will decrease throughout the years. Your $1,000,000 will buy you significantly less compared to 10 years ago. That's a very important thing you overlook here.

[pocarime32]

keeping money with a bank would be a safe and prudent decision because there are no uncertainties of Fiat losing or gaining value while keeping your money in bitcoin would be a gain or loss for us

Yeah, for safety bank is more safer than bitcoin wallet for keeping money and you also get interest if you save/keep your money in the bank. Bitcoin wallet also good though, but bitcoin wallet don't have interest.

[stromma44]

keeping money with a bank would be a safe and prudent decision because there are no uncertainties of Fiat losing or gaining value while keeping your money in bitcoin would be a gain or loss for us

Yeah, for safety bank is more safer than bitcoin wallet for keeping money and you also get interest if you save/keep your money in the bank. Bitcoin wallet also good though, but bitcoin wallet don't have interest.

If you have saved money in bitcoins then it can grow your money in long run as price keeps on changing so if price goes higher then it can be considered as an interest in bitcoin.

[jerowacik]

keeping money with a bank would be a safe and prudent decision because there are no uncertainties of Fiat losing or gaining value while keeping your money in bitcoin would be a gain or loss for us

that is very correct . but some BANK sometimes can not maintain our privacy. we are often offered strange. they get all the information about us from BANK.

[septian44]

I keep all my money in Bitcoin I personally do not believe in the future of FIAT currencies.  With banks bailing out around the world i would prefer to keep my money in BTC.

keep all the money in bitcoin Bitcoin lets you exchange money in a different way than with usual banks. ... Consequently, keeping your savings with Bitcoin is not recommended at this point. ... All Bitcoin transactions are stored publicly and permanently on the network Any transaction issued with Bitcoin cannot be reversed, they can only be refunded by the person receiving the funds. That means you should take care to do business with people and organizations you know and trust, or who have an established reputation

[Velkro]

I keep all my money in Bitcoin I personally do not believe in the future of FIAT currencies.  With banks bailing out around the world i would prefer to keep my money in BTC.

Agree, only risk is that, bitcoin will go down sooner than banks. Im doubting it, but this is possibility to consider.
So what is bigger risk, keeping all your money in bank or bitcoin currently?

[SquallLeonhart]

I keep all my money in Bitcoin I personally do not believe in the future of FIAT currencies.  With banks bailing out around the world i would prefer to keep my money in BTC.

Agree, only risk is that, bitcoin will go down sooner than banks. Im doubting it, but this is possibility to consider.
So what is bigger risk, keeping all your money in bank or bitcoin currently?

Keeping all money in bitcoin is a huge risk as you never know what will be the value of bitcoin in future or it may simply disappear but with banks your money is totally safe.

[techfm86]

Bitcoin wallet is surely a better option, and despite the fact that it needs some improvement, it is still better than banks, because the fees are too high. And there is the problem of centralization, which may endanger the funds of the users in a few situations.

[tygeade]

Bitcoin wallet is surely a better option, and despite the fact that it needs some improvement, it is still better than banks, because the fees are too high. And there is the problem of centralization, which may endanger the funds of the users in a few situations.

At this stage we cannot rely only on one, we need both of them as banks will take care of our day to day transactions and bitcoin will take care of online transactions, both are important.

[CroSany]

bank = If you choose the security of transactions and guarantee funds you save.

bitcoin wallet = if you choose the convenience and speed of transaction (everytime and everywhere).

match yourself?  Wink Wink

[krishna1]

Technocally bitcoin wallets are strongest for money storage but legally bitcoin can be considered as a black money storage by some rule governments they will blame bitcoin if they can not defete it but whi cares i don't

[livinglegend]

I think each of them have different purposes, you can see that both, bank and bitcoin wallets, are good for different things. You can keep your money at a bank keeping it safe, but also have some profit on it holding the btcs into your wallet.

[1Referee]

Technocally bitcoin wallets are strongest for money storage but legally bitcoin can be considered as a black money storage by some rule governments they will blame bitcoin if they can not defete it but whi cares i don't

It of course depends on what country you are living in, but in well developed democratic countries Bitcoin is mostly seen as part of your wealth. In that aspect it's not black money at all. This is of course assuming you declare your Bitcoin holdings. If you keep them away from the government, just like you are saving fiat in certain islands where people think their money is safe, then it's being considered black money by the governments.

[soros017]

Bitcoin wallets are certainly a better option, despite the fact they need improvements. Bank fees are too high and there is the problem of centralization, which may endanger some of the users funds.

[uname]

bank = If you choose the security of transactions and guarantee funds you save.

bitcoin wallet = if you choose the convenience and speed of transaction (everytime and everywhere).

match yourself?  Wink Wink

I think the speed of transactions in bitcoin will be seen later when you have to wait for some confirmation to get paid status. so I think this is a common problem faced

[terman45x]

bank = If you choose the security of transactions and guarantee funds you save.

bitcoin wallet = if you choose the convenience and speed of transaction (everytime and everywhere).

match yourself?  Wink Wink

I think the speed of transactions in bitcoin will be seen later when you have to wait for some confirmation to get paid status. so I think this is a common problem faced

Why people seems to see that confirmation delay of bitcoins transaction. I am not having problem with it because it is just taking few minutes maybe 2-5 minutes is already enough for waiting. And I would say that is not a problem at all since you are just getting billed for only small amount of satoshi's for your transactions to get confirmed.

Yeah I have seen many users complaining about the delay in confirmation time but I have never faced any issue with that so far and if you attach proper fees then that problem will be solved.

[X-ray]

bank = If you choose the security of transactions and guarantee funds you save.

bitcoin wallet = if you choose the convenience and speed of transaction (everytime and everywhere).

match yourself?  Wink Wink

I think the speed of transactions in bitcoin will be seen later when you have to wait for some confirmation to get paid status. so I think this is a common problem faced

Why people seems to see that confirmation delay of bitcoins transaction. I am not having problem with it because it is just taking few minutes maybe 2-5 minutes is already enough for waiting. And I would say that is not a problem at all since you are just getting billed for only small amount of satoshi's for your transactions to get confirmed.

Yeah I have seen many users complaining about the delay in confirmation time but I have never faced any issue with that so far and if you attach proper fees then that problem will be solved.

i just experienced the delay yesterday,the confirmation goes very slow maybe it's a temporary technical problem but it's sure quite bothering because i need the transaction to be fastly confirmed due to limitation time of bitpay's API,so if it can be faster then better

[Anemed]

I require both as of now. I require bitcoin wallet to save the bitcoins i earn. When i change the bitcoin to fiat, i save that money in my bank account. I take this money and use them for my daily expense if needed. So both are required for me.

[Nowl1935]

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!

Yeah, i agree with you guys, definitely i prefer to put my money in bitcoin wallet than to bank. Putting money into bank is too secured but sad to say that you should always follow the law under na provision of bank secrecy. While putting money into bitcoin wallet is to easy and hassle free.