Why I hate Banks and love Bitcoin :->

[Bessta]

That is true, paying in fiat money is more complex than paying in a cryptocurrency based system. One of the things and one of the reasons why it should get adopted by different companies. It makes us less hassle than paying in fiat money and it little by little, bitcoin will be introduced to naive people.

[jakelyson]

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

For convenience, third party service is good but for me, it quite defeats the purpose of blockchain and bitcoin. Blockchain is created to avoid the third party in making transactions. The third party service providers are like the banks which we are trying to avoid by using bitcoin.

[ghost424]

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. 

This is an issue that must be tackled by that Bank because it made consumers like you lose trust in them. Its unfortunate that some banks are still slow on processing payments and their services are still not that good enough to satisfy their consumers. It is their mistake because a lot of people are trusting them with their own money. Money is not something that is easy to gain and the best way for this kind of issue to be resolved is by finding a better bank.

It is true that paying with Cryptocurrency will be hassle free but that also depends if people are already knowledgeable enough to understand how Crypto works. We should start teaching them little by little for us to make a better community.

[joinfree]

Sorry about the game Kakmar, i have also been in a similar situation where a friend of mine needed money so badly and urgently and you know how our central banks are. I sent the money but it took over 5 hours before he was able to cash out the money. I think it's time we actually push for the adoption of cryptocurrencies to the masses and marketplaces.

This would really help save time and all the stress that we have to go through when cashing out through banks.

[XinXan]

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

Which takes away the point of bitcoin, doesn't it? Using centralized services because bitcoin cannot do it alone? There are many problems with bitcoin, most of these issues are holding bitcoin back from mainstream adoption. Stablecoins have tried to solve the volatility problem and while they are not volatile, they are also not necessarily the best option.

Financial Freedom is important but it also has its disadvantages, mistakes for example can be devastating because no one is in control of your coins and so, no one will be able to refund you if you make a  mistake.

Yes, banks suck, their interest rates, fees, etc are bad, however there isn't a much better alternative when it comes to everyday payments and even other type of payments. The bitcoin network is certainly secure, however that doesn't mean your coins are, your money is probably much safer in a bank than in your own computer with bitcoin unless you are never trading with it and holding it in a paper wallet (which certainly doesn't help if you want to use them for daily payments). Exchanges get hacked all the time, people lose their bitcoins all the time, even using hardware wallets, it happens. Security isn't necessarily a + when it comes to bitcoin.

Deflation: Yes, in that regard, bitcoin and cryptos definitely win, it's math, there is a limited number of bitcoins, in fact the amount is lower and lower every single day because of lost bitcoins.

Anonymity?: See, this one is tricky, you need a credit card/bank/paypal to purchase bitcoin, at least if you want big quantities of it, there are ways to do it without them but you wont be able to buy 1000 bitcoins not using one of those methods, also even if you manage to do it, what are you going to do when you need to cash out?

Talking about cashing out, bitcoin can be a bitch, did I say banks have high fees? Well shit, when you cash out your bitcoin, you can get pretty fucked with fees and it's not even that easy to do. Localbitcoins has been targeted by governments recently and might even shut down at some point, it's certainly not very anonymous anymore.

Banks do have a very important role, stabilize the economy for example in times of crisis, they can literally create or destroy money, we wont be able to do that with bitcoin and while you might think this isn't necessarily great, it's needed sometimes.

[LeGaulois]

Financial Freedom is important but it also has its disadvantages, mistakes for example can be devastating because no one is in control of your coins and so, no one will be able to refund you if you make a  mistake.

If you make a bank transfer by mistake the bank can do nothing in most cases. If you get ripped off your $100 banknote, there's nothing you can do either. So I don't really see the comparison?

Yes, banks suck, their interest rates, fees, etc are bad, however there isn't a much better alternative when it comes to everyday payments and even other type of payments.

There are literally a thousand of payment methods and more currencies, it's not the problem. The problem is they are all centralized or state-owned. Bitcoin is the currency of nobody, doesn't represent a nation and isn't controlled by a centralized network.

[Naughty Princess]

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

Banks and bitcoin have different function for everyone. It does not matter whether you only trust one of them because they give you much benefits than the other. I am using both, bank where I can save my money for the future used and bitcoin where I keep money for investment or spending purposes because it is less hassle to process online than in banks.

[Noilee]

That's the advantage of having crypto over banks. We could pay and receive payments instantly. I used to make transactions with banks before and it takes about 3-5 business days and it's really a waste of time. Since I had bitcoin, money transactions are easier as well as payments.

Bitcoin is better than in bank when it comes to payments, because it so fast and no need to wait for the approval of the banks. In bitcoin anytime you can open it or use. While banks there so many procedure and there is no privacy unlike in btc.

[Bes19]

Bitcoin is better when it comes on payment coz it's faster than any other payment services. What i love about bitcoin/cryptocurrency is you can make your money x2 in minutes while in bank they offer a minimal percentage annually.

[Raja das]

There are many reasons why we love bitcoin and hate banks.
I also discuss this topic:-
 
BITCOIN:
  we know bitcoin is a currency of the internet.
  it is a traditional currency, it has permission to use (from banks, trading business, the government also).
  it is easy to use (P2P currency ), and bitcoin transactions are very low-cost, much less than central payment networks.
  we don't need to provide your email, name or any identifying information when you making P2P transactions.

BANK:
   If all the people decide to withdraw their money from the bank, all at once, the bank will become bankrupt.
   Due to the function of credit creation, banks never have enough money to pay all its customers at the same time.
   People, without a doubt, will lose their money if the bank goes bankrupt.
 
Bitcoin is better than the banking system.

[Dontme]

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. 

Bitcoin should get a bigger shot on these big companies, they must learn how to adopt it. Really, Bitcoin provides a lot of ease for it`s users,  things that banks and other payment platform that can`t provide.

[hatshepsut93]

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!

I had a similar story, recently my internet provider bumped their prices, but I didn't notice it and paid the old price, so they cut my connection off. I phoned them and explained the situation, they immediately restored my connection and gave me 24 hours to pay the rest of the sum, I logged into by online bank, send them the money which confirmed instantly, end of the story.
So, the speed and overall user experience is not universal to all banks, and from what I've heard banks in the US are notoriously bad, while in Europe they are pretty good. The most important difference between Bitcoin and banks is that Bitcoin let's you control your money, which is a guarantee that no one will take your money away.

[Biswa7]

I am heat bank beacause their is the tendence of cething.when i keep the money to bank l doesn't fill safe.because their is a tendency to lost money.because in now days we see that hankers are hank the bank account and my money is gone.bankers are involved with hankers and polcie man also.so they are gate the courage.so i hate bank

[oseikuf44]

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. 

It is unfortunate that the satellite provider don't offer Bitcoin or crypto as a form of payment, but as the competition continues with innovative merchants getting bitcoin as payment processor, all will join soon when the going get tough. Banks with their offline service and holiday periods will make bitcoin outnumber them.

[javainn]

This is why bitcoin would help us alot if just the government will adopt it as payment method for every available services.
Bank and wire transfers takes 1-3 days of processing and when the transaction is done you still need to wait for few hours for the service the back lol.While in bitcoin the longest time you need to wait for a transaction to be confirmed is just about an hour.

the main problem with the bank is the length of payment confirmation, maybe if true bitcoin can be used for that in the sense that payment can be a solution and can be an easy thing for the transaction system.

[jhongzjhong]

This is why bitcoin would help us alot if just the government will adopt it as payment method for every available services.
Bank and wire transfers takes 1-3 days of processing and when the transaction is done you still need to wait for few hours for the service the back lol.While in bitcoin the longest time you need to wait for a transaction to be confirmed is just about an hour.

the main problem with the bank is the length of payment confirmation, maybe if true bitcoin can be used for that in the sense that payment can be a solution and can be an easy thing for the transaction system.

Honestly, it is very basic to say that the bank could also adopt the blockchain technology for faster transactions even without accepting bitcoin. The blockchain technology is the real thing and not the cryptocurrency. What I mean is, if the bank will adopt the blockchain technology, then that is the time that they can copy or even develop their transactions. Same as bitcoin's efficiency or much faster.
I can tell that the financial institutions are now open for the possibility of adopting the blockchain technology or at least make another set of algorithms that is similar to blockchain. I also guess that Paypal has already done this thing.

[Gaff]

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!

I had a similar story, recently my internet provider bumped their prices, but I didn't notice it and paid the old price, so they cut my connection off. I phoned them and explained the situation, they immediately restored my connection and gave me 24 hours to pay the rest of the sum, I logged into by online bank, send them the money which confirmed instantly, end of the story.
So, the speed and overall user experience is not universal to all banks, and from what I've heard banks in the US are notoriously bad, while in Europe they are pretty good. The most important difference between Bitcoin and banks is that Bitcoin let's you control your money, which is a guarantee that no one will take your money away.

The statement was really subjective and aggressive which concluded that hated banks totally, so the love of bitcoin begun because of every bad experiences from banks. If you belong to the banks, I don't think  your freedom remained that easy and comfortable. Unlike with bitcoin our financial liberation was there, and banks cannot overpower us in terms of how we use the funds that we had. There's no barrier to consider when it comes to transactions due to blockchain technology that gives us faster service that we needed to comply our required task for the crypto funds that we have.

[pixie85]

I had that happen to me once with my Internet but I called the company and told them that it was an honest mistake and that I will pay right now just need them to resume the service so I can log into my bank account. I was online 10 minutes later and had no problems ever since.

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.

I disagree that it's much easier with bitcoin. Logging into your bank account and sending is still much easier than copying the address and double checking if it's the right one then making sure the fee is set right.

[sandra_x]

It gets even better, not only can you make payment easily with bitcoin but also, we are getting to that stage where you can actually program your periodic payments with some smart algorithms. Bitcoin is programmable money,that's is another reason it beats fiats and any other form of money,

[shield132]

To be fair transaction's speed/fees aren't that much issue for me because where I live, it's cheap in overall but banking system is absolutely suited on making people poor by how much percentages in overall they have on different services, how high % they have on loans in some countries, how they block your account in seconds for some reasons and etc. Bitcoin is great because you own and manage your wallet, no one can control your movements and you feel secure where your money is in your hands and not in banks' hands. Another great bonus is cheap fees and high speed of transaction confirmation + a lot of services have integrated instant deposit which makes bitcoin more unique and affordable compared to any banking service. In overall this coin is great creation and deal to get rid of banks.