Banks cannot keep up with the changing times, but Bitcoin can.

[Kakmakr]

About 2 weeks ago, I had some problems with my internet service provider. I decided to end my contract with them and I signed up with a new service provider. I used their online registration and I also decided to pay by debit order. <because they do not accept Bitcoin yet> ^smile^

This is how this played out. The services provider required me to send them verification from the tx id from my bank account to verify that the payment went through my bank account. <it took 3 days for this tx to be displayed on my bank statement>

I supplied the information and then they acknowledged that they received the entry, but that the clearance to their Bank account would take 3 to 7 days. < It took 4 days >

So to sum up what I am saying. To enable a debit order payment, it took 7 days to process.

People are complaining about Bitcoin tx delays, but the Banks are far worst. If this service had a Bitcoin payment option, I would have had internet access 6 days earlier.

For the people who would say, USE your credit card, I would say NO f@#%$ way! These centralized services cannot be trusted to secure my credit card details. < I have been a victim of credit card fraud before>

Banks suck! <period>   

[Aya1]

Banks must be ready to face the changing times, including in the face of the development of digital technology. Various product innovations and banking services are required to keep up with changes in customer behavior.

[akram143]

About 2 weeks ago, I had some problems with my internet service provider. I decided to end my contract with them and I signed up with a new service provider. I used their online registration and I also decided to pay by debit order. <because they do not accept Bitcoin yet> ^smile^

This is how this played out. The services provider required me to send them verification from the tx id from my bank account to verify that the payment went through my bank account. <it took 3 days for this tx to be displayed on my bank statement>

I supplied the information and then they acknowledged that they received the entry, but that the clearance to their Bank account would take 3 to 7 days. < It took 4 days >

So to sum up what I am saying. To enable a debit order payment, it took 7 days to process.

People are complaining about Bitcoin tx delays, but the Banks are far worst. If this service had a Bitcoin payment option, I would have had internet access 6 days earlier.

For the people who would say, USE your credit card, I would say NO f@#%$ way! These centralized services cannot be trusted to secure my credit card details. < I have been a victim of credit card fraud before>

Banks suck! <period>   

You are right banks are worst in terms of process,in my country it is more worse have to stand in a queue for everything due to more population.
So bitcoin is best when compared to bank transactions so people have to understand about bitcoin's advantage.

[andamers]

About 2 weeks ago, I had some problems with my internet service provider. I decided to end my contract with them and I signed up with a new service provider. I used their online registration and I also decided to pay by debit order. <because they do not accept Bitcoin yet> ^smile^

This is how this played out. The services provider required me to send them verification from the tx id from my bank account to verify that the payment went through my bank account. <it took 3 days for this tx to be displayed on my bank statement>

I supplied the information and then they acknowledged that they received the entry, but that the clearance to their Bank account would take 3 to 7 days. < It took 4 days >

So to sum up what I am saying. To enable a debit order payment, it took 7 days to process.

People are complaining about Bitcoin tx delays, but the Banks are far worst. If this service had a Bitcoin payment option, I would have had internet access 6 days earlier.

For the people who would say, USE your credit card, I would say NO f@#%$ way! These centralized services cannot be trusted to secure my credit card details. < I have been a victim of credit card fraud before>

Banks suck! <period>   

yes bitcoin better because transition is INSTANT and conforming depend on your fee.
you can control time, how to pay and when will arrive will full control

[LeGaulois]

About 2 weeks ago, I had some problems with my internet service provider. I decided to end my contract with them and I signed up with a new service provider. I used their online registration and I also decided to pay by debit order. <because they do not accept Bitcoin yet> ^smile^

This is how this played out. The services provider required me to send them verification from the tx id from my bank account to verify that the payment went through my bank account. <it took 3 days for this tx to be displayed on my bank statement>

I supplied the information and then they acknowledged that they received the entry, but that the clearance to their Bank account would take 3 to 7 days. < It took 4 days >

So to sum up what I am saying. To enable a debit order payment, it took 7 days to process.

People are complaining about Bitcoin tx delays, but the Banks are far worst. If this service had a Bitcoin payment option, I would have had internet access 6 days earlier.

For the people who would say, USE your credit card, I would say NO f@#%$ way! These centralized services cannot be trusted to secure my credit card details. < I have been a victim of credit card fraud before>

Banks suck! <period>   

Banks can display instantly the transactions, they don't do it because there isn't a real need. Most of the neo-banks display the transactions instantly now, even when you use your card. The same minute you see it on your account

[Kakmakr]

About 2 weeks ago, I had some problems with my internet service provider. I decided to end my contract with them and I signed up with a new service provider. I used their online registration and I also decided to pay by debit order. <because they do not accept Bitcoin yet> ^smile^

This is how this played out. The services provider required me to send them verification from the tx id from my bank account to verify that the payment went through my bank account. <it took 3 days for this tx to be displayed on my bank statement>

I supplied the information and then they acknowledged that they received the entry, but that the clearance to their Bank account would take 3 to 7 days. < It took 4 days >

So to sum up what I am saying. To enable a debit order payment, it took 7 days to process.

People are complaining about Bitcoin tx delays, but the Banks are far worst. If this service had a Bitcoin payment option, I would have had internet access 6 days earlier.

For the people who would say, USE your credit card, I would say NO f@#%$ way! These centralized services cannot be trusted to secure my credit card details. < I have been a victim of credit card fraud before>

Banks suck! <period>   

Banks can display instantly the transactions, they don't do it because there isn't a real need. Most of the neo-banks display the transactions instantly now, even when you use your card. The same minute you see it on your account

You are talking about credit and debit card payments. It gets tricky when you have to deal with debit orders or global transfers to other Banks or even transfers between different banks within your own country. Their systems are outdated and I think they know this.

The internet is based on speed and it is borderless and the technology to move money around, should keep up with the changing needs of the internet and it's users.

Bitcoin has forced Banks to look into Blockchain based private networks as a solution, but that will fail. <People has already been exposed to decentralized options that are not private>

[hkdfgkdf]

You are right. I agree to you that lot of people prefer blockchain technology for transactions and payments. Some banks nowadays have so much delays. In my opinion, banks must apply this new system or process. This is future, they must upgrade and consider their customers. I would not expect more if cryptocurrency would take over banks. In this way, all of our money is in our control.

[dvabit]

About 2 weeks ago, I had some problems with my internet service provider. I decided to end my contract with them and I signed up with a new service provider. I used their online registration and I also decided to pay by debit order. <because they do not accept Bitcoin yet> ^smile^

This is how this played out. The services provider required me to send them verification from the tx id from my bank account to verify that the payment went through my bank account. <it took 3 days for this tx to be displayed on my bank statement>

I supplied the information and then they acknowledged that they received the entry, but that the clearance to their Bank account would take 3 to 7 days. < It took 4 days >

So to sum up what I am saying. To enable a debit order payment, it took 7 days to process.

People are complaining about Bitcoin tx delays, but the Banks are far worst. If this service had a Bitcoin payment option, I would have had internet access 6 days earlier.

For the people who would say, USE your credit card, I would say NO f@#%$ way! These centralized services cannot be trusted to secure my credit card details. < I have been a victim of credit card fraud before>

Banks suck! <period>   

I never faced any issue with my credit card because i added lot's of barrier to my credit card. Like i add $25 limit on International transaction, 2FA, email confirmation...      

[jayc89]

Banks must be ready to face the changing times, including in the face of the development of digital technology. Various product innovations and banking services are required to keep up with changes in customer behavior.

Not all Banks need to do that though, some people like to store money the old fashioned way.

Most Banks will have to adapt to newer technology though.

[ipanks]

that is good for you sir, I won't use my credit card too even if I have a credit card because I think using a credit card to pay something is too risky because the fee for monthly is too expensive than we use bitcoin. I have an uncle that has a credit card and he needs to pay at least $800 monthly and this is why I don't want to have a credit card.

sometimes the banks need more time than we can expect and sometimes they need a month to solve one problem from their customer because I got the bad experience with one of my bank. and until now I don't think that I want to deal again with them and I think I want to open an account in another bank.

[icanscript]

Worst of all, bankers understand the superiority of the Crypto-currency.

The banking system has already begun its war against the crypto currency.
What strong measures of influence they will take in 2018, we will soon see.

[bill gator]

About 2 weeks ago, I had some problems with my internet service provider. I decided to end my contract with them and I signed up with a new service provider. I used their online registration and I also decided to pay by debit order. <because they do not accept Bitcoin yet> ^smile^

This is how this played out. The services provider required me to send them verification from the tx id from my bank account to verify that the payment went through my bank account. <it took 3 days for this tx to be displayed on my bank statement>

I supplied the information and then they acknowledged that they received the entry, but that the clearance to their Bank account would take 3 to 7 days. < It took 4 days >

So to sum up what I am saying. To enable a debit order payment, it took 7 days to process.

People are complaining about Bitcoin tx delays, but the Banks are far worst. If this service had a Bitcoin payment option, I would have had internet access 6 days earlier.

For the people who would say, USE your credit card, I would say NO f@#%$ way! These centralized services cannot be trusted to secure my credit card details. < I have been a victim of credit card fraud before>

Banks suck! <period>   

Man, it's things like this that people like to pretend don't happen that often.. Even though Equifax leaked half of america's information because financial institutions don't know how to properly handle sensitive information. You cannot trust anybody with your information, and so it's a shame when identity theft is a part of nearly everyone's life at some point.

Whenever you want to move around a significant amount of money there is always a 3-5 day wait at the minimum, banks are not even as quick as bitcoin on its slowest and most congested days. Bitcoin still charges less fees than the banks, and at least bitcoin is honest about what fees will be charged and where the money is going.

Even when the bank knows it is their mistake, where the wrongfully charge you a fee or transfer money incorrect they still force you to wait 3-5 days while the put money back into your account that they never should've taken or touched to begin with. These sorts of waits, fees and problems will dissipate with the banking institutions that are becoming antiques as bitcoin gains more traction. The issues are glaring and becoming more and more of an elephant in the room. Nobody likes to deal with these waits that bitcoin does away with, and I never even thought about the wire and transfer fees as a positive of bitcoin even after all these years of using it.

[jseverson]

That's ridiculous. Personally though, I've never had a problem with bank transfers. They usually resolve in 24 hours in my experience. Showing service providers proof of payment such as deposit slips and/or screenshots of online transactions usually suffice as well. Someone close to me has also been a victim of credit card fraud in the past, but that has more to do with the card getting cloned physically than some online store stealing your credentials. I must also note that charges made by fraud are contestible and reversible, so while it's going to cause a fuckton of a hassle, you won't really lose money in the end.

I still think Bitcoin fees are way too high at the moment so I don't plan on using it on transactions until that's resolved, but I'm optimistic that it can be competitive in this area in the future. I'm okay with banks for now.

[Kakmakr]

That's ridiculous. Personally though, I've never had a problem with bank transfers. They usually resolve in 24 hours in my experience. Showing service providers proof of payment such as deposit slips and/or screenshots of online transactions usually suffice as well. Someone close to me has also been a victim of credit card fraud in the past, but that has more to do with the card getting cloned physically than some online store stealing your credentials. I must also note that charges made by fraud are contestible and reversible, so while it's going to cause a fuckton of a hassle, you won't really lose money in the end.

I still think Bitcoin fees are way too high at the moment so I don't plan on using it on transactions until that's resolved, but I'm optimistic that it can be competitive in this area in the future. I'm okay with banks for now.

The fact that you have not experienced this with DEBIT ORDERS, does not mean that it is not happening with other people. Have you every tried to get back fraudulent transactions with one of your accounts or a credit card? <They use expensive lawyers and attorneys to fight their case, and you lose in the end, because you signed some silly document when you opened the account and most probably not even read >

The Banks are using your money to fight you with expensive lawyers. In instances where there are smaller amounts, they will settle and pay a fraction of what you lost. <And then you have to sign the confidentiality agreements to keep this a secret>   ^grrrrrrr^

[audaciousbeing]

About 2 weeks ago, I had some problems with my internet service provider. I decided to end my contract with them and I signed up with a new service provider. I used their online registration and I also decided to pay by debit order. <because they do not accept Bitcoin yet> ^smile^

This is how this played out. The services provider required me to send them verification from the tx id from my bank account to verify that the payment went through my bank account. <it took 3 days for this tx to be displayed on my bank statement>

I supplied the information and then they acknowledged that they received the entry, but that the clearance to their Bank account would take 3 to 7 days. < It took 4 days >

So to sum up what I am saying. To enable a debit order payment, it took 7 days to process.

People are complaining about Bitcoin tx delays, but the Banks are far worst. If this service had a Bitcoin payment option, I would have had internet access 6 days earlier.

For the people who would say, USE your credit card, I would say NO f@#%$ way! These centralized services cannot be trusted to secure my credit card details. < I have been a victim of credit card fraud before>

Banks suck! <period>   

Its really not that bad for banks over here but they still haven't gotten some things right. Over here, to clear a check would take minimum of 3 working days if its interbank but less than say one hour if its the same bank. If you witnessed dispense error from the ATM where you are debited without cash, the reversal could take nothing less than 3 working days or more the same thing when you pay via POS. But sometimes, its all for the better because:

1. Your funds will surely be refunded no matter how long and even if you are scammed, the fund can be reversed and  the recipient account barred with every other account connected to that individual.

2. The assurance that your fund is going to the right place with all the controls put in place is enough to have rest of mind compared to btc where by error or mistake, even as little as copying wallet address could make your funds end up in the wrong wallet.

Its not all perfect for banks and bitcoin but gradual improvement will make the world a better place.

[km4700ruda]

And it is unfair when we see people always complaining about having to wait 30 minutes for receiving the first confirmation.. well, i really assumed that, a lot of people will always be here just for complaining purposes, and that is it.
seriously you waited more than 10 days just for an "internet provider"?

[BTCforJoe]

I don't think there are any doubts or questions about the speed of transactions, like you indicated in your original post. And I don't think that banks CANNOT keep with the changing times; I believe it's that they WILL NOT keep up with the changing times. First of all, the volatility of Bitcoin doesn't make them any more comfortable with utilizing Blockchain technology, as most banks undoubtedly associate blockchains with solely Bitcoin. If their current method isn't broken, why would they try to fix it? Secondly, I don't ever see banks utilizing blockchain tech. Why? Because the transparency entailed by utilizing the blockchain is a vulnerability to and for banks. Why would they show any of their transactions publicly?

Going back to your original statement, though, speed is not the issue here. The volatility is. The transactions fees is beyond the control of any bank or institution, and currently are astronomically exorbitant. THIS will be the main factor as to why banks won't even consider using blockchain tech. Yes, we know there are many blockchains (not just for Bitcoin), but banks don't and will not spend time, energy, and resources into developing or researching them simply because of their ignorance.

Oh, and referencing your statement saying that Bitcoin can keep up with changing times? I'm not so certain about Bitcoin Core anymore, what with all the ridiculously high transaction fees and bottleneck of unconfirmed transactions at the moment. We're FAR from being a mainstream currency, and to be limited by the small amount of transactions that are able to be processed almost seems archaic at this point. So I would say that I disagree with you when you say that Bitcoin can keep up... I don't think it can at the moment.

[J Gambler]

About 2 weeks ago, I had some problems with my internet service provider. I decided to end my contract with them and I signed up with a new service provider. I used their online registration and I also decided to pay by debit order. <because they do not accept Bitcoin yet> ^smile^

This is how this played out. The services provider required me to send them verification from the tx id from my bank account to verify that the payment went through my bank account. <it took 3 days for this tx to be displayed on my bank statement>

I supplied the information and then they acknowledged that they received the entry, but that the clearance to their Bank account would take 3 to 7 days. < It took 4 days >

So to sum up what I am saying. To enable a debit order payment, it took 7 days to process.

People are complaining about Bitcoin tx delays, but the Banks are far worst. If this service had a Bitcoin payment option, I would have had internet access 6 days earlier.

For the people who would say, USE your credit card, I would say NO f@#%$ way! These centralized services cannot be trusted to secure my credit card details. < I have been a victim of credit card fraud before>

Banks suck! <period>   

Well that is one point that you clearly make and i can see that however I still think that even with all the advantages that bitcoi. Can offer or even cryptocurrency in a whole it still has many glaring flaws that keeps banks and regular currency would still go up

[gabmen]

This really isn't the case all the time as many banking transactions also run smoothly. Though of course, the technology that cryptocurrencies use, blockchain, is far more advanced than what banks are currently running today. I would'nt be surprise if banks adopt that technology for themselves

[whitemacna]

Banks must be ready to face the changing times, including in the face of the development of digital technology. Various product innovations and banking services are required to keep up with changes in customer behavior.Bitcoin has forced Banks to look into Blockchain based private networks as a solution, but that will fail. <People has already been exposed to decentralized options that are not private>