1
449
450

Bitcoin vs Bank (i.imgur.com)

Liquid00による前の投稿

sorted by:
best
best
トップ
新着
注目
論争中
古い順
you are viewing a single comment's thread.

view the rest of the comments →

[–]PUTSOMECHEESEONTHAT 462 ポイント463 ポイント 前

When you actually visit a bank (instead of simply using online banking) you do that for reasons that don't even apply to the Bitcoin world.

This chart is witless fanboyism.

[–]theGentlemanInWhite 6 ポイント7 ポイント 前

This post was relevant up until I could cash checks with my phone.

[–]starkast -1 ポイント0 ポイント 前

Must be nice, I get paid once a month, my checks are "too big" for phone deposits... Boss also refuses direct deposit. I hate bank hours.

[–]theGentlemanInWhite 1 ポイント2 ポイント 前

Boss also refuses direct deposit.

Why the hell not?

[–]the_prole 96 ポイント97 ポイント 前

I like that phrase. Witless fanboysim describes this whole subreddit.

[–]jkazimir 4 ポイント5 ポイント 前

Witless fanboysim

Given the amount of trolls here now, maybe this is not a typo after all.

Not that I am supporting any side her- PROVERBIAL GUNFIRE IN DISTANCE ..ah.. shit

[–]milkandcoffee 10 ポイント11 ポイント 前

came here to say this. I haven't visited my bank ever.... all done online

[–]PoissonTriumvirate 0 ポイント1 ポイント 前

How did you sign up for an account? You have to provide ID, sign stuff, etc.

[–]milkandcoffee 0 ポイント1 ポイント 前

when I signed up for my bank of america account in 2007 not sure if things have changed. I put my SSN and ID number online and everything was signed electronically.

[–]PoissonTriumvirate 1 ポイント2 ポイント 前

Yeah, I'm pretty sure you can't do that anymore thanks to AML and KYC laws. I had to go to my local branch with a passport and a proof of residency (for a credit union).

[–]origin415 0 ポイント1 ポイント 前

I signed up for a local credit union completely online in 2012ish. Still never been to a branch.

[–]Reus958 0 ポイント1 ポイント 前

No, I signed up for chase a couple months ago online. As of October, it's definitely legal.

[–]oranssialpakka -4 ポイント-3 ポイント 前

You've never gone to the bank? So you've never used cash at all?

Edit: The bank I use only has ATM's at the bank near me. So..

[–]nawitus 12 ポイント13 ポイント 前

If only someone invented an automatic teller machine.

[–]oranssialpakka 1 ポイント2 ポイント 前

I mean I go to the ATM (conveniently located at the bank) to withdraw/deposit but I also had to go to the bank to set up the account... So I've been to my bank before. Just surprised me that he's never been to the bank at all.

[–]milkandcoffee 4 ポイント5 ポイント 前

I opened my account online. My paycheck goes directly to my bank account. 99% of the time I need cash I do cash back at stores. I sometimes use my bank ATM which is not located inside a bank but inside the grocery store I visit. Any trouble with my account or card I call their 1800. I never needed to got.

[–]nawitus 2 ポイント3 ポイント 前

Ah. At least where I live it's possible to set up an account online, but not all banks offer it.

EDIT: Should've replied to the parent..

[–]milkandcoffee 0 ポイント1 ポイント 前

yeah not all banks offer it. I use a national bank BofA

[–]oranssialpakka 0 ポイント1 ポイント 前

Yeah I got your message. I had to go to my bank to show verification for my account, and then even more verification when setting up a business account.

[–]blue_one 1 ポイント2 ポイント 前

Idk where the OP is from but the UK has had online only banks since 1996.

I'm not so surprised at the ignorance in this thread (not many people really need to know about foreign banking rules). But the sheer disbelief in the existence of other (more efficient) systems, I find truly shocking.

[–]autowikibot 0 ポイント1 ポイント 前

Egg Banking:

Egg is a former British internet bank headquartered in Derby, that is now a trading name of Yorkshire Building Society. Egg was born out of the UK banking arm of Prudential plc, Prudential Banking plc, which was established in 1996, and the Egg brand was launched in 1998.

It was only possible to operate an Egg account over the internet, or via their call centre. Egg specialised in savings and general insurance but no longer offers loans, credit cards or mortgage products. The credit card business was sold to Barclaycard, followed by the remaining savings and mortgage business to Yorkshire Building Society, which subsequently transferred all remaining customer accounts over from Egg.

Following the sale of its assets, Egg Banking plc, which remained under the ownership of Citigroup, was renamed Canada Square Operations Limited and continues to handle matters relating to certain Egg products from before the sale of assets and any assets that were not transferred to the new owners.

Image i

Interesting: Oocyte cryopreservation | Yorkshire Building Society | Mike Harris (entrepreneur)

Parent commenter can toggle NSFW or delete. Will also delete on comment score of -1 or less. | FAQs | Mods | Magic Words

[–]Captin_Obvious 1 ポイント2 ポイント 前

Some banks are online only, they have no actual branches. You can still with draw money from other banks ATMs.

[–]oranssialpakka 0 ポイント1 ポイント 前

I guess. I had to go to my bank and show 3 forms of verification just for an account. Then when I set up a business checking account I had to show 5 forms of verification in person. I guess I just bank with a bunch of assholes?

[–]MrProper -2 ポイント-1 ポイント 前

My bank does not commit money orders outside business hours. Need to send some money to another account after 2PM Friday?! See ya next week...

[–]milkandcoffee 1 ポイント2 ポイント 前

I assume you use a small bank or local bank. People hate on big banks like BofA, Chase, Wells Fargo but their services and convenience make it worth for me. Sorry if I am assuming you live in the USA.

[–]Reus958 0 ポイント1 ポイント 前

I don't even get it, even my smallish credit union does all of these things online and regardless of hours (except answering the phone, which I've honestly never needed to utilize).

[–]buckygrad 3 ポイント4 ポイント 前

Agreed. Not an avid Bitcoin user and I go to a branch maybe once a year. Maybe.

[–]weks 3 ポイント4 ポイント 前

I haven't been to a bank in many many years, I handle all of my banking matters digitally. Imagine that.

[–]popeyepaul 21 ポイント22 ポイント 前

Online banking is often subject to the opening hours of the bank anyway (at least in Europe). If I make a bank transfer in the evening or during a weekend, it won't be processed until the next morning.

edit: I give up. People can't read and don't even know how their banks work.

[–]Lolworth 7 ポイント8 ポイント 前

UK here, I can't think of a time where a transfer between banks hasn't been instant for years.

I mean, how do you think people use bitcoin in the first place to make a purchase from their bank? Via a transfer.

[–]HistoryLessonforBitc 7 ポイント8 ポイント 前

It's actually been the law in the UK for a good few years now that transfers must arrive by, at the latest, the next working day. Most now arrive within two hours, usually instantly.

Bitcoin is kind of useless over here because our banking infrastructure is actually quite advanced.

[–]KoxziShot 1 ポイント2 ポイント 前

The UK is pretty awesome for banking, Pingit for example is pretty neat. I have had an account with most of our major banks and I've never had any of the inconveniences that most US people have had. I was surprised that digital pen signatures (thats it right?) were still being used up until recently.

[–]soforth 0 ポイント1 ポイント 前

How is "next working day" in any way comparable to "almost instantly"?

[–]HistoryLessonforBitc -1 ポイント0 ポイント 前

Try reading comprehension.

The LAW says that transfers must arrive by the next working day. In practise, the vast majority arrive instantly or within a few minutes.

[–]physalisx 0 ポイント1 ポイント 前

That is correct for all SEPA transfers too, afaik. But that only counts one day after it is booked. So when you send money in the evening, let's say 9 P.M, it is only booked the next day, so only has to arrive one day after that.

And no, that doesn't mean Bitcoin is "kind of useless", for countless other reasons that I'm sure you have heard enough of by now. Even one day, if it actually were one day, is a ridiculous amount of time for a simple change of a database entry, especially when it's done with centralized authorization. Bitcoin accomplishing the same in 10 minutes, and decentralized, is still a big deal, in the UK too.

[–]EcstaticShock -3 ポイント-2 ポイント 前

Bitcoin is kind of useless over here

We regret to inform you that your account has been frozen by state authority. We're sorry for the inconvenience.

[–]HistoryLessonforBitc 5 ポイント6 ポイント 前

I regret to inform you that having an account "frozen by state authority" is actually rather rare and does not in any way negate the fact that Bitcoin's day-to-day functionality and actual usefulness is far below that of the British banking system.

[–]EcstaticShock -2 ポイント-1 ポイント 前

Getting run over by a bus is a very rare event, but that doesn't stop you from looking before crossing.

[–]HistoryLessonforBitc 1 ポイント2 ポイント 前

Er, no, that's not a good analogy to what you were saying. You're saying banks are useless compared to Bitcoin because your account might be "frozen by state authority", ergo you should avoid them. The correct analogy for you then is "Don't cross the road because you might get hit by a bus, even if the shit you really want to get to is on the other side of the road".

[–]EcstaticShock 0 ポイント1 ポイント 前

You're saying banks are useless compared to Bitcoin

[citation needed]

The correct analogy for you then

is "read my posts before you let your imagination run wild." I made only factual claims about banking. You said Bitcoin is useless because your country's banks aren't complete shit. I didn't say banks are useless, I said Bitcoin isn't useless.

[–]popeyepaul 2 ポイント3 ポイント 前

I've lived in a couple of different countries and had plenty of bank accounts. And the only time I have had instant transfers was when both accounts were within the same bank. My current bank doesn't even do that, I literally can't transfer money from one of my own accounts to another (different currency) until the banks open.

I don't know about UK, but I wonder if people mistake seeing the money being reducted from their account (which is instant) and think that it goes through at the same time? The bank reserves that money, you'll see the reduction in your account, but it doesn't actually go anywhere until the banks process it. The best way to see it is to be on the receiving end of the transfer, where I have been many times, frustrated and waiting for days.

[–]Frankeh 0 ポイント1 ポイント 前

Natwest to Barclays takes less than 2 hours. I have a feeling it's instant, but my sister took 2 hours to get to her bank when I sent her some money.

[–]Murmurp 0 ポイント1 ポイント 前

Untill it's a Friday bank holiday... And you have to wait till Tuesday!

[–]Frankeh 1 ポイント2 ポイント 前

Apart form not. Transfers still take place out of hours.

[–]Lolworth 0 ポイント1 ポイント 前

Yeah I'm still talking about receiving the money. Every BTC order I've made has been via a bank transfer confirmed by the recipient when it hits. This takes about 20 minutes. Where are you buying BTC if not by instant(ish) bank transfer? Or do you just wait days for it?

[–]meantofrogs 7 ポイント8 ポイント 前

Does your continent not have 24hr ATMs?

[–]onetown 4 ポイント5 ポイント 前

Does your continents ATMs let you transfer money?

Edit: we are talking about actually moving the money. I can transfer my money 24/7 on my phone, but my bank doesn't move any money outside of opening hours. The OP graph is over simplified, but just in terms of actually transferring money it's perfect for showing the benefit of bitcoin.

[–]meantofrogs 15 ポイント16 ポイント 前

Some. Absolutely.

[–]matthewnealwright 3 ポイント4 ポイント 前

In Korea, yes. Your phone and PC too.

[–]jamar030303 2 ポイント3 ポイント 前

Chinese ATMs do. Type in the other person's debit card number, type in the amount to send, confirm the name matches, and poof, it's done.

[–]dnalloheoj 3 ポイント4 ポイント 前

Type in the other person's debit card number

There's got to be more security to this than your implying, yeah?

Just because I trust someone to send me 100$ doesn't mean I trust them with my debit card number. That seems crazy.

I realize they still need the CCV code and what not, but still, I hope I'm missing something here.

[–]jamar030303 4 ポイント5 ポイント 前

Chinese debit cards are not like American ones. In person, it's no PIN, no transaction. Online purchases require your online banking login and either a one-time code generated on a physical device, a one-time code sent to your phone, or a USB security dongle connected to your computer while the transaction is performed. For smaller transactions it's sometimes possible to do it with just card number and PIN, but never can you do any sort of debit transaction with information shown on the card alone.

[–]kryptobs2000 5 ポイント6 ポイント 前

It almost sounds like the Chinese know what they're doing and understand security or something.

[–]trevelyan22 4 ポイント5 ポイント 前

Well, their banking software only works with Internet Explorer, so let's not jump to conclusions.

[–]vegitafromvegita -1 ポイント0 ポイント 前

north america checking...yes

[–]kryptobs2000 0 ポイント1 ポイント 前

Where do you live? In the US you cannot make a bank transfer from an ATM, and seeing as it's bank policy and most banks are largely global/interconnected I really doubt it matter where you live.

[–]mobile-user-guy 0 ポイント1 ポイント 前

Yeah why drive to an ATM when you can just sit wherever you are with device connected to the internet and make a bank transfer!

[–]meantofrogs 0 ポイント1 ポイント 前

I have absolutely made a credit union ATM transfer. I guarantee it.

[–]vdogg89 6 ポイント7 ポイント 前

Exactly this. Online deposits or bank to bank transfers won't work during closed hours

[–]mobile-user-guy 0 ポイント1 ポイント 前

What? My direct deposits are credited to my account at midnight. Literally.

[–]kabalalala 11 ポイント12 ポイント 前

WTF are you talking about? Europe is a pretty big place dude. I can use online banking 24-7.

[–]popeyepaul 19 ポイント20 ポイント 前

You can use online banking any time, but your transfers aren't going anywhere until your bank approves them. Some banks have automatic approvals if transfering between bank accounts within the same bank, but even that isn't guaranteed.

[–]slicksps 0 ポイント1 ポイント 前

It used to be, but with Faster Payments, actually online banking isn't so bad. It's the charges I object to, however most of those are in regards to debt, which I'd like to say is impossible with Bitcoin except that a person can lend a bitcoin creating debt and charge their own interest and charges.

Love bitcoin, but this argument is flawed.

[–]BTtje -1 ポイント0 ポイント 前

Europe or even the EU is not like the usa.. There are different policies in every country. Not only political, also between companies. Even inside te same company operating in multiple countries. I can use Internet banking 24/7

[–]kryptobs2000 0 ポイント1 ポイント 前

Not to mention most banks have a half day saturday.

[–]javastripped 1 ポイント2 ポイント 前

The last time I went to a bank it was Chase bank to deposit cash for my GF.

It was a pain in the ass to get to... they closed at 4pm (at least this branch did) and I had to hurry to get there.

It was about a 20 minute walk and I didn't have a car because I was out of town.

... so I get there... and low and behold they stopped taking "anonymous" cash deposits 2 days beforehand.

So fuck Chase!

[–]cryptonaut420 1 ポイント2 ポイント 前

OP actually has somewhat of a point, although its not completely true, since banks do a ton of other services that bitcoin obviously does not (mainly requiring human interactions).

I dont know about your area, but in canada, if your employer isnt set up for direct deposit, then you are forced to use cheques. Which means you need to go to a teller during bank hours, which generally totally conflict with the average persons schedule (9 - 5). Sure, you can go to the ATM area at your bank which is open 24/7 and deposit it, but if you deposit it into the machine they put a hold on all that money for a minimum of 3 to 5 business days, with only access to like $100 right away. Not a big deal if you have money already or no bills coming up, but if you are completely broke and need food or have to pay rent the next day or something, ATM deposit is not really an option. Also, even if they are actually open and running on saturdays and/or sundays, those days are still not considered "business days", which is total BS IMO. Believe it or not, many many people still use cash and cheques for a lot of things (cheques mostly from employment or for rent). There are also hard limits on how much cash per day you can withdraw from an ATM.

All in all, its not really that bad, first world problems and such.. but I think the whole concept of "business days" is obsolete and just stupid in this day and age. Its all mostly automated anyways, and often staff working around the clock/every day also anyways, so why the hell implement artificial delays?

[–]FatStig 3 ポイント4 ポイント 前

Bitcoin doesn't supply any banking features.

[–]soforth -1 ポイント0 ポイント 前

Um. What? Bitcoin can securely store and transfer your money while keeping a record of all transactions. What do you think a bank does?

[–]FatStig 1 ポイント2 ポイント 前

Lend money. Pay interest on deposits.

[–]BABarracus 1 ポイント2 ポイント 前

True story no bank cannot afford to not be open on Saturday also lot of banks close around 7. A responsible adult will find time to go to the bank for important business

[–]abudabu 0 ポイント1 ポイント 前

You said it. I'm growing disgusted with crypto because of mindless posts like this. What are the real use cases that consumers actually care about? I'm having a hard time identifying them.

[–]Rassah -5 ポイント-4 ポイント 前

What are the real use cases that consumers actually care about? I'm having a hard time identifying them.

Then why the hell are you on this subreddit?

[–]abudabu 5 ポイント6 ポイント 前

Because I'm interested in hearing about real use cases, not fanboy bullshit.

[–]Rassah -4 ポイント-3 ポイント 前

Being able to send and receive money at any time of day or day of the week is not a real use case because

[–]mobile-user-guy 2 ポイント3 ポイント 前

because it's a generic statement that comprises a plethora of different use cases.

[–]abudabu 1 ポイント2 ポイント 前

But I can do that already with stuff like Square cash, Paypal etc. Give me a specific example where I really need to use Bitcoin. I'm really excited about the field, but am having a hard time seeing where the big differentiator for consumers is.

Google was huge because I needed to find things on the web, and it found things simpler and faster. Facebook allowed me to see my friends' posts in a single place instead of visiting various blogs.

What's the killer app for Bitcoin? Maybe it's not something that consumers need - maybe it's something in finance - but what is it? I'd love to know. Bullshit posts like this one don't help me, and frankly make me skeptical of the community.

[–]HistoryLessonforBitc 1 ポイント2 ポイント 前

I like how rather than answer his question, you tell him to fuck off (in not so many words).

[–]Rassah -5 ポイント-4 ポイント 前

Someone who is "disgusted with crypto" and has a "hard time identifying" "real use cases" is not someone who understand or is interested in crypto.

[–]HistoryLessonforBitc 4 ポイント5 ポイント 前

He didn't say "disgusted with crypto", he said "growing disgusted with crypto because of mindless posts like this". He also didn't just say "real use cases", he said "real use cases that consumers actually care about". You've cherry picked the bits that make him seem unreasonable.

So what are the real use cases that consumers actually care about?

[–]Mamitroid3 0 ポイント1 ポイント 前

Agreed. My online banking is open 24/7. When I do go to the bank to get cash, its for an in person transaction with someone who likely has never heard of Bitcoin. Not to knock it, it just doesn't apply.

[–]robamichael 0 ポイント1 ポイント 前

Ever have to wire money?

[–]teelm 0 ポイント1 ポイント 前

People downvoting and hating do not realise this applies not to them but to the 6 billion people who does not have the same online banking advantages. Bitcoin will be more useful and widely adopted in third world countries.

[–]SCREAM_THERAPY -1 ポイント0 ポイント 前

What? Something critical of bitcoin sycophantry isn't -400 already? Has the cavalry come to save us from spergy lolbertarian downvotes?

[–]soforth -1 ポイント0 ポイント 前

Like transfers and deposits? Oh wait.

[–]dellintelbitcoin -5 ポイント-4 ポイント 前

You havent seen anything yet

[–]1KeepMoving -4 ポイント-3 ポイント 前

If I want to make a deposit into my bank after hours, I can not. If I want to withdraw more then $500 from an atm after banking hours I can not. With bitcoin I can transfer value without the need for a third party to be open.

[–]jxnpope12 0 ポイント1 ポイント 前

ATM's dude. A lot of them let you make deposits.

Online banking lets you make deposits/transfers anytime now.

[–]7trXMk6Z -5 ポイント-4 ポイント 前

i need a lot of cash on hand for my job, but i try to keep it invested, so i often need to get thousands of dollars at a time from my bank, and even though my credit union is fine with that, the branch near by shut down (moved locations far away), so my only choice that's not far away is a "share-branch" credit union, which has a daily withdraw limit of $500.

the fact that i have to plan around that and make sure im awake at the right times is annoying, but the cash i have to not invest because i have to keep it on hand solely because the local branch cant meet my needs -- that actively costs me money.

additionally, im a bit of a night owl and frequently doing my activities after normal business hours.

OP's chart is extremely relevant to the reasons i use (and hate) the banking system.

[–]DemoMod 6 ポイント7 ポイント 前

so bitcoin provides you with more than 500 cash at anytime? Does it dispense from your cdrom? and why not just go to a dealer during the hours.

[–]KirkNJ -3 ポイント-2 ポイント 前

what a generalization