Why I hate Banks and love Bitcoin :->

[Roukawa]

We all have our own opinion about banks and bitcoin. Banks are still way secured in doing transactions especially in business.

[monalia]

We all have our own opinion about banks and bitcoin. Banks are still way secured in doing transactions especially in business.

Feeling sad to see why this much understanding you people having knowledge about BTC and bank. I will tell you some featured differences between these things.

Bank is centralized medium which is scammng the laymen and world people in the financial marketplace.


BTC is the decentralized medium which can be operated indepentedly and allow you stay anonymous. This market allow you may the payment anywhere in the world with the same fees.

[indrakusumaindra]

I pay for my monthly satellite TV subscription with a bank transfer and for some obscure reason I forgot to pay it this month. I was still watching the World cup Cricket tournament, when a message popped up, saying that my account was in the arrears and they blocked my viewing.

I immediately logged into my internet Banking and checked my payment history and realized that I skipped that payment for some reason, so I made the payment and thought I would wait for a hour or two and then resume viewing. Noooot!

8 HOURS passed, I phoned the company and they informed me that the payment is not reflected on their system yet, so I waited another 4 hours and phoned them again. <still Nothing>

A whole 21 hours later the payment went through and I could continue viewing, but the match I wanted to see was finished. 

If I paid with Bitcoin, this same payment would have taken less than 20 minutes at most, but unfortunately this Satelite provider does not accept Bitcoin payment for this service. 

Welll i love bitcoin cause i could buy anything i want from anywhere part of the world. I do also think bitcoin made a new job like bounty hunter and become my second job which is something that i love to do. I do think soon we could use bitcoin as a payments anywhere.

[malekbaba]

cryptocurrency is 100times better than regular banking. I still use cheque book and last month I requested for new cheque book and I have not received it , yet, after 25 days. I work in a remote place and bank book is the only option if I want to withdraw fund cause ATM is not available there. Although I have applied for debit card and it seems I have to wait longer. If I want to withdraw large sum, bank official asks 100 questions. And I feel really unsafe if someone notice that I am moving with cashes. There are other benefits of using crypto over fiat. Bitcoin rocks

[roosbit]

When it comes to such type of subscriptions a standing order to your bank would have saved you from this disconnection,and if your satellite guys accept PayPal this could be another alternative to consider with their recurring payment plans which save you the trouble of remembering to make these payments. You don't have to hate fiat for this

[finbad]

Bank payment can even fail and be hanging. I have severally had a failed bank transactions, and the cash actually left my account but merchant didn't receive it, prompting me to do a series of mails to my bank, because they have other customers complain to attend to, I had to place on the waiting line, well before it can eventually be resolved some do take many days, forcing me to make an alternative with the hope that my merchant was going to make a refund to me. In all these bank charges are nonrefundable. 

Each time I make a bank transaction, I am afraid that something will go wrong again. I see that mistakes there started to happen too often. I never had these problems when dealing with Bitcoin and other cryptocurrencies.

[Korkorjkk]

There is no doubt that Bitcoin has solved the speed problems relating to financial transactions. As for banks, they always have an excuse that their network has failed and all that. It is a shame that even if people want to send money across countries, it takes up to days before the money gets to its destination.

[TimeBits]

░░▄▀░░░▐░░░░░█▄▀░▐░WE
░░█░░░▐░░░░░░░░▄░█░░ON
░░░█▄░░▀▄░░░░▄▀▐░█░░SAME
░░░█▐▀▀▀░▀▀▀▀░░▐░█░░TEAM
░░▐█▐░░░▀░░░░░░▐░█▄▄░░░
░░▀▀░░▄bank▄░░░░▐▄▄▄▀░░ #Bitcoin

[Distinctin]

There is no doubt that Bitcoin has solved the speed problems relating to financial transactions. As for banks, they always have an excuse that their network has failed and all that. It is a shame that even if people want to send money across countries, it takes up to days before the money gets to its destination.

Indeed,  bitcoin makes some simplifications that banks can't do it.  But the safety of storing such value into bitcoin  will be that huge and it is too far from being stored in the banks.  They are not competing actually, in fact, some banks are also adopting crypto, this means that they tried to see how crypto would meant to be as its purpose and such support will help the market to be strong.

[Twinkledoe]

There is no doubt that Bitcoin has solved the speed problems relating to financial transactions. As for banks, they always have an excuse that their network has failed and all that. It is a shame that even if people want to send money across countries, it takes up to days before the money gets to its destination.

That is the very reason why banks are afraid of the crypto adoption. In terms of speed, they are surely the loser. There are still drawbacks of btc transaction that's why most merchants are hesitant to employ it in their system. Volatility is the major factor that they are not convinced to take risk at the moment. But sooner or later, I believe such volatility issue will be addressed.

[adzino]

I pay for my monthly satellite TV subscription with a bank transfer and for some obscure reason I forgot to pay it this month. I was still watching the World cup Cricket tournament, when a message popped up, saying that my account was in the arrears and they blocked my viewing.

I immediately logged into my internet Banking and checked my payment history and realized that I skipped that payment for some reason, so I made the payment and thought I would wait for a hour or two and then resume viewing. Noooot!

8 HOURS passed, I phoned the company and they informed me that the payment is not reflected on their system yet, so I waited another 4 hours and phoned them again. <still Nothing>

A whole 21 hours later the payment went through and I could continue viewing, but the match I wanted to see was finished.  

If I paid with Bitcoin, this same payment would have taken less than 20 minutes at most, but unfortunately this Satelite provider does not accept Bitcoin payment for this service.  

You could have added a recurring payment for your subscription. Again, if those are subscription based payment, then should they be almost instant? It looks like you are making some sort of payment transfer to their bank account to avail your subscription. That's really a poor method to accept payment and a shitty service to cancel your subscription instantly without even warning you. Your provider could just accept credit cards. They are always instant.
Yeah, bitcoin payment would be easier but then again, if you pay low fee confirmation might take ages.

[bitcoin31]

Hows your monthly satellite TV is already reflect? You can choose bitcoin to pay your subscription in satellite TV and I think after few hours or minimum of 30 minutes it will reflect your account and you will get fast compared of using of banks. Maybe banks are delay only what juat happened to you. But next time use bank to pay your satellite tv monthly bill..

[lupinvn]

Give your condolences to you for having gone through the extremely difficult period. Actually working with banks always has a delay in processing data. Because in some categories, they still have to process trading orders manually. I have no intention of criticizing you, but really, you don't pay your money on time as your fault, and you can't force bank employees to be on duty to handle your mistake, they just an intermediary
Speaking of Bitcoin, will TV providers accept payment by crypto? If so, what guarantees that they will be able to process your request as soon as the payment is completed?

[Mike Mayor]

Well you should have had a debit order or yearly subscription as others have mentioned as well. I just hate the banking interface, it is difficult to use and confusing. Bitcoin and crypto is much more easy to understand since it is just a few things you need. Address of the receiver and the amount to pay and your security options.vWith banking you also have no idea the progress of your transaction since there is nowhere to check since there is no blockchain.

[stompix]

BTC is the decentralized medium which can be operated indepentedly and allow you stay anonymous. This market allow you may the payment anywhere in the world with the same fees.

Lols, you realize he was paying for a satellite tv subscription?
How could he remain anonyous?
Ordering something via BTC will stop making you anonymous when the parcel is delivered to your door and it has your name on it.

Seriously now, stop it!

I do also think bitcoin made a new job like bounty hunter and become my second job which is something that i love to do. I do think soon we could use bitcoin as a payments anywhere.

Bounty hunter is not a job and Bitcoin didn't make it, shitcoins did.

Give your condolences to you for having gone through the extremely difficult period.

Common, nobody died, he just missed a damn match!
@Kakmakr are you still traumatized by this experience? 
If you can't get over I'm sure lupinvn can start crowdfunding (inBTC) to support you through this difficult period.

 

[jak3]

Well, that was unexpected, but yes if they accept Bitcoin payments you can surely watch the world cup without interruption. Now at least you won't forget to recharge your tv bills. and on second though bitcoin transactions can also get stuck so I think satellite communications are much better alternatives when considering something beyond the internet.

[iMark]

We all have our own reason why we love crypto and hated banks ,
For me I love crypto because I could use it easily I could create account without hassle unlike in banks we need to complete some few requirements in order to create a bank account.
And bank theft is also one of the big reason why I hate banks I mean there are some scammers and thieves in crypto ,
But unlike in banks we are the one who are responsible in our crypto we are the one who should control it and take care of it.

Different from me, I love bitcoin, but that doesn't mean I hate banks, I'm not hypocritical that I still really need a bank for my transaction right now. I still use the bank for my business, sending money with people in many places. even though I like the decentralized system, for now the bank is still very much needed for me

[Rounaksarkar]

One person transacted the money, but the money did not reach his account. Then he reported to the bank and the bank said the problem would be solved within 3 days. But it was not, but the money from the man's wallet went away. But the money did not go to the account. The other side also went away. The bank was no longer in charge. The guy got his loss.if it was done with bitcoin instead then he won't face such loss. !!!!!!!!!!!

[Evgenklm]

A good alternative to the type of payment, I agree that the Bank payment can be credited within a day, and if also on the weekend payment, you can wait a few days.With bitcoin much easier, this tool would make life easier in the service industry.

[bittick]

That is why many of the modern people especially those who are technology literate people who's wanted an easy and fast transaction like me. I am sorry that you experienced that kind of situation for sure it is very annoying,
I hope that in the future bitcoin will be available to all providers or all products that it can be an alternative way of paying instead of cash or through bank.

There are actually many third party services that provide you a convenient way to deal with everyday's shopping through bitcoin also there are many of gift card seller who accept bitcoin  If you really interested in using bitcoin you can try that