Banking scams ...How are Bitcoin better?

[Btc_1856]

I am not a big fan of banks, only use them when I have to withdraw money in local currency. I don't use debit or credit cards (for loan purposes) but to use ATM only. Not a fan of banking products which are nothing but a show-off. The point is, bitcoin is far better than banks in a hell lot of ways for example:
Decentralization
Full transparency
Faster transaction
Lesser taxes and fee
Besides that, there are more banking scams but fewer scams in BTC technology.

But, after reading your post hackers, thieves, and scammers have found many new ways to scam people (users of banks) like they can force you, they use pin hole camera, etc. Everything thing that you have aforementioned can be done for BTC users too.

They can force a person and can beat him for recovery phase, (once they get to know you are a BTC user) they can use hacking techniques (don't have to use pin hole camera to eavesdrop) they can simply eavesdrop on you by compromising your devices. But good precautions can make your BTC life more secure.

I don't really fancy banks too, only use them very occasionally to receive money and get some cash.

Moreso, I think even the banks are scammers themselves. The withdraw all sorts of undisclosed charges on your account and when you complain they tell you it's service charges, even when you ain't even using that particular service.

So, BTC is far better, and some of the reasons are already stated here.

If you don't like banks then you should stop using them. If you say banks are scams why do you still use them? Don't be like OP and talk bad about things you still depend on every day. If bitcoin is really so good, why hasn't it replaced banks yet, why haven't you converted all your assets to bitcoin? We should be honest with each other when discussing, don't try to live a fake life just because we want to flatter others. Bitcoin is really good but it will never replace banks and both have their own use cases.

[1715502560]

1715502560

[1715502560]

1715502560

[1715502560]

1715502560

[Fuso.hp]

Bitcoin in not better than banks payment, because with bank payment - credit/debit card you can pay for everything, with Bitcoin you can not. Plus bank payment with credit/debit card is instant. With Bitcoin - all confirmations can go in 30 minutes, but can go also in 3 days, who knows.

Two important points you make are that Bitcoin transactions are not possible everywhere and another point is that Bitcoin transactions take extra time. If we have to sit for 30 minutes to an hour to pay with Bitcoin where payment is done in seconds with Credit Card or Debit Card then we will never want to do Bitcoin transaction.  
Bitcoin can be used as the best investment platform without transactions, we should think of transactions through Bitcoin at the time when Bitcoin will spread globally and people worldwide will transact through Bitcoin and when Bitcoin transactions will be completed in a short period of time just like debit cards and credit cards. Basically at that time we have to transact through Bitcoin.

[m2017]

Share your experience with these Banking problems and give possible solutions for this, because we will draw a lot of people to Bitcoin, if we find innovative solutions to problems like this. 

~snip

Oh, yeah. With bitcoin you act directly with another person. This is exactly what is called p2p. There are no intermediaries between you who can disrupt the deal as in your story or steal money from a bank card, as in the story about your relative. This is precisely one of the greatest advantages of the bitcoin - the absence of unnecessary links between people / participants in any trade and monetary transaction. Because it is these extra links that jeopardize the financial relationship between the participants, and also put the safety of your money at risk, as in the banking system, in which too many people have access to your account.

In the case of bitcoin, some nuances arise in terms of the safety of your funds, because you will have to take on all the responsibility and organization of security. But I would rather choose this option, instead of blindly trusting banks (their security systems), which also employ ordinary people, with typical human weaknesses (greed), such as the desire to get easy money through theft and fraud, which exposes bank users to unnecessary risks. In my opinion, these risks are much higher than those that arise when you independently ensure the safety of your crypto assets.

[ScamViruS]

If you don't like banks then you should stop using them. If you say banks are scams why do you still use them? Don't be like OP and talk bad about things you still depend on every day. If bitcoin is really so good, why hasn't it replaced banks yet, why haven't you converted all your assets to bitcoin? We should be honest with each other when discussing, don't try to live a fake life just because we want to flatter others. Bitcoin is really good but it will never replace banks and both have their own use cases.

It is true that the time has not come to replace the bank. The global economy depends on the banking system, if for some reason the banking system collapses even for a day, the global economy will also fall into big trouble. So the situation has not yet developed to go bankless using Bitcoin.

But there are some problems of banks which cause a lot of trouble in people's personal life. However, in practical terms, no matter how much a person is a bank hater, at the end of the day all his financial activities have to be done using the bank. Yes it is true now we are totally dependent on banks, maybe in the future we can reduce our dependency on banks and increase our freedom to use our own money.

[coolcoinz]

If you don't like banks then you should stop using them. If you say banks are scams why do you still use them? Don't be like OP and talk bad about things you still depend on every day. If bitcoin is really so good, why hasn't it replaced banks yet, why haven't you converted all your assets to bitcoin? We should be honest with each other when discussing, don't try to live a fake life just because we want to flatter others. Bitcoin is really good but it will never replace banks and both have their own use cases.

It's an argument similar to asking someone, if you don't like your job, why do you keep on working?

Most people can't stop using banks because their employer demands they have an account. In many countries (for instance the whole EU) an employee must have a bank account. You can pay your contractors in cash, but someone who's employed by a business can't be paid in cash.

I'd gladly stop using banks if I had a full time job that paid me in bitcoin.

[D ltr]

There are many definite opinions if you ask which better between BTC and Bank,
I personally say everything is good in storage, and both have their respective advantages
for the level of security both are equally insecure because they can be hacked and prone to fraud

[Kakmakr]

If you don't like banks then you should stop using them. If you say banks are scams why do you still use them? Don't be like OP and talk bad about things you still depend on every day. If bitcoin is really so good, why hasn't it replaced banks yet, why haven't you converted all your assets to bitcoin? We should be honest with each other when discussing, don't try to live a fake life just because we want to flatter others. Bitcoin is really good but it will never replace banks and both have their own use cases.

It's an argument similar to asking someone, if you don't like your job, why do you keep on working?

Most people can't stop using banks because their employer demands they have an account. In many countries (for instance the whole EU) an employee must have a bank account. You can pay your contractors in cash, but someone who's employed by a business can't be paid in cash.

I'd gladly stop using banks if I had a full time job that paid me in bitcoin.

You do not have to ask your employer to convert all your salary to Bitcoin, because in most countries that does not work. A lot of the things you have to pay, cannot be paid in Bitcoin...so doing that will be stupid.

I asked my employer to convert a small portion of my salary into Bitcoin, so that I can use it to pay for lunch at local food merchants that accept Bitcoin as a payment option. (Lightning Network) .... luckily for me, my boss are also a Bitcoin supporter... so he allowed it for a couple of us at work. 

The thing is you have to ask and you also have to find merchants that accept Bitcoin as a payment option to use some of those coins. (80/20 split between hoard and use)

[Cheema02]

The Banks are continuously improving their service with offering that are more user-friendly and easy to use. One example of this are "Contactless Card Payments" where you tap your card for small purchases.

The scammers have figured out how to use that service to their advantage... by simply tapping it continuously (if it is not limited) and if it requires a pin... by watching you and following you after you have made a purchase. (They then take your card by force and physically tap it until your account are empty)

I believe Bitcoin provides creative solution to typical financial issues. In my knowledge a lost business opportunity brought on by a problem with a financial transaction left me defenseless and without any choices for tracking. Bitcoin offers clearness and lets you manage transaction delays by changing fees. Similar flaws in traditional banking, where third parties might take advantage of events, were exposed by an event involving an ATM used by a family. Because Bitcoin transactions take place directly through your wallet, your susceptibility to scams is reduced. Also, the openness of Bitcoin transactions reduces the need for convoluted administrative procedures when problems arise, providing a faster and more secure choice.

[Victorik]

I don't really fancy banks too, only use them very occasionally to receive money and get some cash.

Moreso, I think even the banks are scammers themselves. The withdraw all sorts of undisclosed charges on your account and when you complain they tell you it's service charges, even when you ain't even using that particular service.

So, BTC is far better, and some of the reasons are already stated here.

You think right, because banks are doing scams but not directly instead lure people into some programs where they have no other choice but to accept the faith that there money is gone and now they cannot do anything. The first scam is loans, they will provide you easiest ways to take loans and a time will come when you will be stuck in loan cycle and you will get no way out. Then many people take there life too.

Few months ago a man in our country was under huge debt loan and suite but the fault was not only of the platform from where they took the loan but the fault was of the man too. People should not make choice that they know or at least have some idea that, are going to cost them.  Debt cycle can also be occur in BTC but the scams you have pointed out, is a good one and we can definitely save ourself with BTC from many scams.

Yea. Bank loans are very dangerous especially when you don't have a concrete plans for that loan, you could end up in a financial mess if care is not taken.
 I have had issues with hidden charges with my banks on several occasions and they don't get resolved and I have concluded that it is a deliberate act to defraud unsuspecting customers.

[Blitzboy]

If you don't like banks then you should stop using them. If you say banks are scams why do you still use them? Don't be like OP and talk bad about things you still depend on every day. If bitcoin is really so good, why hasn't it replaced banks yet, why haven't you converted all your assets to bitcoin? We should be honest with each other when discussing, don't try to live a fake life just because we want to flatter others. Bitcoin is really good but it will never replace banks and both have their own use cases.

It is true that the time has not come to replace the bank. The global economy depends on the banking system, if for some reason the banking system collapses even for a day, the global economy will also fall into big trouble. So the situation has not yet developed to go bankless using Bitcoin.

But there are some problems of banks which cause a lot of trouble in people's personal life. However, in practical terms, no matter how much a person is a bank hater, at the end of the day all his financial activities have to be done using the bank. Yes it is true now we are totally dependent on banks, maybe in the future we can reduce our dependency on banks and increase our freedom to use our own money.

This is a global reality and its hard to shake off. But lets not forget the power of alternatives and change. The concern you're highlighting is real; our economy is chained to the banking system. The pseudo-problem here, though, is the thought that we cant start making small shifts.

While its true, we cant fully replace banks right now. Its also true that we can start depending less on them by using cryptocurrencies for some transactions. Yes, complete financial freedom is not fully attainable now, but every bit of independence we gain is a step towards a future where we have more control over our own money. Isnt that the dream? Bit by bit, Bitcoin and other cryptocurrencies can potentially help in making this dream a reality.

[Victorik]

I am not a big fan of banks, only use them when I have to withdraw money in local currency. I don't use debit or credit cards (for loan purposes) but to use ATM only. Not a fan of banking products which are nothing but a show-off. The point is, bitcoin is far better than banks in a hell lot of ways for example:
Decentralization
Full transparency
Faster transaction
Lesser taxes and fee
Besides that, there are more banking scams but fewer scams in BTC technology.

But, after reading your post hackers, thieves, and scammers have found many new ways to scam people (users of banks) like they can force you, they use pin hole camera, etc. Everything thing that you have aforementioned can be done for BTC users too.

They can force a person and can beat him for recovery phase, (once they get to know you are a BTC user) they can use hacking techniques (don't have to use pin hole camera to eavesdrop) they can simply eavesdrop on you by compromising your devices. But good precautions can make your BTC life more secure.

I don't really fancy banks too, only use them very occasionally to receive money and get some cash.

Moreso, I think even the banks are scammers themselves. The withdraw all sorts of undisclosed charges on your account and when you complain they tell you it's service charges, even when you ain't even using that particular service.

So, BTC is far better, and some of the reasons are already stated here.

If you don't like banks then you should stop using them. If you say banks are scams why do you still use them? Don't be like OP and talk bad about things you still depend on every day. If bitcoin is really so good, why hasn't it replaced banks yet, why haven't you converted all your assets to bitcoin? We should be honest with each other when discussing, don't try to live a fake life just because we want to flatter others. Bitcoin is really good but it will never replace banks and both have their own use cases.

I can see that you lack comprehensive skills.

That I don't fancy banks doesn't mean that I hate them. I have my reservations when it comes to the banks and I have tonnes of reasons why which I wouldn't even wanna share with you.
And hope you are aware there are still so many people who don't use the bank and they are still surviving.

[bayu7adi]

They also use card skimming devices to "clone" your card and use pin hole cameras to capture your pin while you are typing it. They can even bump into you with a device that will initiate a small purchase from your card that can "tap" 

In addition to its features, I believe that banks have also enhanced security measures. To combat criminal activities such as skimming, banks have taken the proactive step of embedding chips in cards to safeguard against card cloning. The introduction of contactless features, in my opinion, is a notable advantage of these small chips present in every card. Consequently, fraudsters would need to gain physical possession of the card if they intend to misuse someone else's card for multiple tap transactions.

Other forms of fraud may only become apparent in 2 or 3 years when the bank's security systems have been compromised, causing harm to several individuals and subsequently coming to the attention of law enforcement.