Bank experience makes me love Bitcoin more

[Kprawn]

My brother bought a second hand car a week ago, and he went into the bank to transfer the money for the car to the dealers account at another bank. The dealer already finished all paper work and

transfer of ownership and also road worthy testing and insurance etc, but cannot deliver the car to him, because the money has not been successfully transferred by the bank. They have a 48 hour

transfer period between different banks. In this day and age, we still have to wait for a minimum of 48 hours to successfully transfer money between banks. 


Everyone should stop complaining about Bitcoin transaction confirmation times, because with the correct fees, you will rarely see anything like this happen under normal {non-stress test} conditions.

You just have to love Bitcoin.  

[1715087560]

1715087560

[1715087560]

1715087560

[1715087560]

1715087560

[1715087560]

1715087560

[1715087560]

1715087560

[pedrog]

There was no stress test, just people moving their bitcoins to buy Ethereum.

[Daniel91]

My brother bought a second hand car a week ago, and he went into the bank to transfer the money for the car to the dealers account at another bank. The dealer already finished all paper work and

transfer of ownership and also road worthy testing and insurance etc, but cannot deliver the car to him, because the money has not been successfully transferred by the bank. They have a 48 hour

transfer period between different banks. In this day and age, we still have to wait for a minimum of 48 hours to successfully transfer money between banks. 


Everyone should stop complaining about Bitcoin transaction confirmation times, because with the correct fees, you will rarely see anything like this happen under normal {non-stress test} conditions.

You just have to love Bitcoin.  

I agree with you.
Bitcoin is future, banks are old history, dinosaurs
We still have a long way to pass, and also we have to overcome oppositions from financial institutions and people which don't understand BTC but as more and more people become Bitcoin users, it will be more difficult to stop us until we become mainstream and official currency for payments.
It was the same with Internet.
In the beginning nobody trusted it and only a few people in universities used it.
In the beginning mostly students used internet for communication and games but now all banks using internet for money transfers and bank accounts.
It will be the same for bitcoin.

[sallymeeh27]

This is much better of course. I really wish that bitcoin will conquer the world. Banks and its system are really old. Everything has to put on approval manually. Banking hours, even if this is actually your own money. They might begin to ask you for some identification like as if your taking others money, so frustrating..

[Kprawn]

There was no stress test, just people moving their bitcoins to buy Ethereum.

Then we need to wait for the congestion to happen again, when they realized they made a huge mistake and they start buying Bitcoin again. Most people cannot even pronounce the word Ethereum

without people thinking they have a bad lisp { speech impediment } The dump will happen as soon as the price of Ethereum has reached the level where people pumping it, seems satisfied that they

will be guaranteed a big enough profit. I will never buy into this pump n dump scheme, knowing what I know now.. Same goes for Dash and the Alt coins before that.  

[franky1]

My brother bought a second hand car a week ago, and he went into the bank to transfer the money for the car to the dealers account at another bank. The dealer already finished all paper work and

transfer of ownership and also road worthy testing and insurance etc, but cannot deliver the car to him, because the money has not been successfully transferred by the bank. They have a 48 hour

transfer period between different banks. In this day and age, we still have to wait for a minimum of 48 hours to successfully transfer money between banks. 


Everyone should stop complaining about Bitcoin transaction confirmation times, because with the correct fees, you will rarely see anything like this happen under normal {non-stress test} conditions.

You just have to love Bitcoin.  

important to note.
bank wire transfers can near instantly inform you the funds are moving. but can take 3-5 business days (2days in Kpawns experience)
VISA card payments can near instantly inform you the funds are on the move.  but can take 3-5 business days
bitcoin can near instantly inform you the funds are on the move.  but can take 10minutes to an day.

and so it is faster. but its not guaranteed 10 minutes. even paying a fee its not guaranteed.
but with a fee, have high expectations of it being under 1 hour. which is atleast 47 times better than banks

[pedrog]

There was no stress test, just people moving their bitcoins to buy Ethereum.

Then we need to wait for the congestion to happen again, when they realized they made a huge mistake and they start buying Bitcoin again. Most people cannot even pronounce the word Ethereum

without people thinking they have a bad lisp { speech impediment } The dump will happen as soon as the price of Ethereum has reached the level where people pumping it, seems satisfied that they

will be guaranteed a big enough profit. I will never buy into this pump n dump scheme, knowing what I know now.. Same goes for Dash and the Alt coins before that.  

Imagine Mike Tyson saying 'Ethereum', it sounds normal.

[tiggytomb]

That is a good example, it just makes sense.  Why would you choose to wait 48 hours when you could wait just minutes, it's examples like this that the public need to hear and not the other negative stuff that gets thrown around the news.  Then I suppose you never really see much positive stuff in the news.

[boopy265420]

Bitcoin is to be loved because of its revolutionary innovation.The other thing is banks also have jumped into blockchain technology but still they didn't embraced Bitcoin with open heart.Bitcoin is to exist and survive as third independent option which will work as check and balance on traditional methods.

[abonarea]

Most of the people are attracted towards because of these existing problems and delay which are part of banking system.Bitcoin came out as hope and complete solution of these matter that makes it useful and is making it successful by and by.

[-XXIII-]

Here's my recent experience:

After taking out $40 from their ATM, after paying the $3 fee, needing to break a $20 I politely asked a teller if she may do this for me. She says, "sure" and proceeds to ask for my account information. "I don't have a bank account here, I just used the ATM" I reply. The teller exclaims, "Oh, ok, can I just get two pieces of ID for our records". "No." I said, and stormed out accidentally slammed open the door too hard in my rage that it almost broke off the hinges.

[Lauda]

There was no stress test, just people moving their bitcoins to buy Ethereum.

There was an attack. Stop posting misleading information.

Why would you choose to wait 48 hours when you could wait just minutes, it's examples like this that the public need to hear and not the other negative stuff that gets thrown around the news.  Then I suppose you never really see much positive stuff in the news.

Technically if both parties trust each other then you don't need to wait much more than a few seconds. Transactions are instant, confirmations take time.

After taking out $40 from their ATM, after paying the $3 fee..

I recently had someone send me money via WU, they had to pay a few higher than 10% of the transaction sent. It's strange that some people complain now that Bitcoin has high fees (less than 10 cents for any amount)  when you consider your other options.

[BellaBitBit]

Exactly! Completely ridiculous that it would take 48 hours.  There are so many things wrong with banks these days:
-unsanitary monopoly money paper..gross!
-overdraft fees preying on low income
-lines at the bank
-checks, why do they still give these to people? especially the ones in front of me at the grocery store!
-fund clearing times...give me a break, they just collect interest while they tell you it is pending
-2 days for a debit purchase to clear...haha.
-ATM fees...don't get me started (and we are worried about pennies of transaction fees with bitcoin??)

Please make this stop. thanks for the ability to rant!

[tyz]

Not only Ethereum, also all the other altcoins which has risen of over the last weeks, namely Factom, NEM, Bitshares, Dash and Monero.

When those coin got dump then Bitcoin price will get a push again.

There was no stress test, just people moving their bitcoins to buy Ethereum.

[Iseecookies]

Made a mistake this morning and took out $200 from my credit instead of savings at the atm and put it right back as soon as I saw that I had made that mistake. Decided to phone them to get them to not charge me $3.5 for a stupid misclick. They refused because they could not see that I had done that,even though they could see the transactions before and after. Was like wtf you want to piss me off over $3.5!

Think how many people misclick in a day and those thieves rake it in with no remorse or sorry. The dude was even snotty with me.

Did I mention I hate banks.

[ahpku]

My brother bought a second hand car a week ago, and he went into the bank to transfer the money for the car to the dealers account at another bank. The dealer already finished all paper work and

transfer of ownership and also road worthy testing and insurance etc, but cannot deliver the car to him, because the money has not been successfully transferred by the bank. They have a 48 hour

transfer period between different banks. In this day and age, we still have to wait for a minimum of 48 hours to successfully transfer money between banks.  


Everyone should stop complaining about Bitcoin transaction confirmation times, because with the correct fees, you will rarely see anything like this happen under normal {non-stress test} conditions.

You just have to love Bitcoin.  

What country are you in? In US, this takes exactly 0 hrs, not 48 hrs.
Consolation: your bro didn't miss out by not using BTC, most car dealers don't take it

Made a mistake this morning and took out < snitp >

Since you occasionally make mistakes like that, probably should stay away from BTC: make a mistake your money's simply gone. All of it. No one to call
https://bitcointalk.org/index.php?topic=1384355.0

[Iseecookies]

My brother bought a second hand car a week ago, and he went into the bank to transfer the money for the car to the dealers account at another bank. The dealer already finished all paper work and

transfer of ownership and also road worthy testing and insurance etc, but cannot deliver the car to him, because the money has not been successfully transferred by the bank. They have a 48 hour

transfer period between different banks. In this day and age, we still have to wait for a minimum of 48 hours to successfully transfer money between banks.  


Everyone should stop complaining about Bitcoin transaction confirmation times, because with the correct fees, you will rarely see anything like this happen under normal {non-stress test} conditions.

You just have to love Bitcoin.  

What country are you in? In US, this takes exactly 0 hrs, not 48 hrs.
Consolation: your bro didn't miss out by not using BTC, most car dealers don't take it

Made a mistake this morning and took out < snitp >

Since you occasionally make mistakes like that, probably should stay away from BTC: make a mistake your money's simply gone. All of it. No one to call
https://bitcointalk.org/index.php?topic=1384355.0

Was chatting at some one when I made the mistake,tend to be focused when it comes to bitcoin transactions due to not having some one asking me about a former girlfriend that was crazy and how to word it to the guy interested in her. Did it once was just interested to see if they wave it or not and they failed.

[ahpku]

...
Was chatting at some one when I made the mistake,tend to be focused when it comes to bitcoin transactions due to not having some one asking me about a former girlfriend that was crazy and how to word it to the guy interested in her. Did it once was just interested to see if they wave it or not and they failed.

So when you, yourself, make a mistake, you feel entitled to the $3.50 you lost? And actually call your bank about $3.50, and ask for it back?!
What next? Calling your bank to credit you the tenner you lost trying to score some rock?
How 'bout U Lrn 2 take responsibility for ur actions & stop cutting into the bank's profit margin with frivolous support calls, hmm?

[Iseecookies]

...
Was chatting at some one when I made the mistake,tend to be focused when it comes to bitcoin transactions due to not having some one asking me about a former girlfriend that was crazy and how to word it to the guy interested in her. Did it once was just interested to see if they wave it or not and they failed.

So when you, yourself, make a mistake, you feel entitled to the $3.50 you lost? And actually call your bank about $3.50, and ask for it back?!
What next? Calling your bank to credit you the tenner you lost trying to score some rock?
How 'bout U Lrn 2 take responsibility for ur actions & stop cutting into the bank's profit margin with frivolous support calls, hmm?

Are you for real?

Sounds like some one is having a bad day.

As a customer I will challenge any fee I feel is unjust,maybe you like being screwed over by charges. Difference in opinion,will ignore the reference to being a crackhead since you are obviously trolling.

This guy cares about bank profits,wtf!

[gentlemand]

Try living in a first world country in europe. Atms are usually free. Bank transfers are free and nesr instant.

The US definitely has some catching up to do. I've been consistently appalled at how archaic it is.