It’s easier and cheaper to use bank wires than Bitcoin

#1

Post by sonkol » Thu, Sep 29, 2016, 3:36 PM UTC

It’s easier and cheaper to use bank wires than Bitcoin
medium.com

Re: It’s easier and cheaper to use bank wires than Bitcoin

#2

Post by d33 » Thu, Sep 29, 2016, 4:35 PM UTC

Excuse me, but how much is it a Bitcoin problem as opposed to being a Bitcoin ecosystem problem? You can't blame Bitcoin for every problem with each exchange.

Re: It’s easier and cheaper to use bank wires than Bitcoin

#3

Post by nicky0 » Thu, Sep 29, 2016, 4:36 PM UTC

Interesting article. But none of the problems described are actually with bitcoin. I see criticisms of CoinBase, WB21, TradeZero, Bitpay. All the problems were due to issues with exchanges & intermediaries and with handling USD. It seems the actual bitcoin part worked fine.

Re: It’s easier and cheaper to use bank wires than Bitcoin

#4

Post by eriknstr » Thu, Sep 29, 2016, 4:36 PM UTC

d33 wrote: post #2

Excuse me, but how much is it a Bitcoin problem as opposed to being a Bitcoin ecosystem problem? You can't blame Bitcoin for every problem with each exchange.

What good is Bitcoin if the ecosystem is bad?

Re: It’s easier and cheaper to use bank wires than Bitcoin

#5

Post by compil3r » Thu, Sep 29, 2016, 4:38 PM UTC

Bitcoin was never intended to reduce the cost of Banks, but rather supply an alternative.

Re: It’s easier and cheaper to use bank wires than Bitcoin

#6

Post by zajd » Thu, Sep 29, 2016, 4:38 PM UTC

nicky0 wrote: post #3

Interesting article. But none of the problems described are actually with bitcoin. I see criticisms of CoinBase, WB21, TradeZero, Bitpay. All the problems were due to issues with exchanges & intermediaries and with handling USD. It seems the actual bitcoin part worked fine.

Interesting article. But none of the problems described are actually with fiat currency. I see criticisms of the Fed, Banks, Credit Card Companies, Credit Unions. All the problems were due to issues with exchanges and intermediaries and with handling USD. It seems the actual fiat currency part worked fine.

Re: It’s easier and cheaper to use bank wires than Bitcoin

#7

Post by adgasf » Thu, Sep 29, 2016, 4:38 PM UTC

This article doesn't have any real discussion of Bitcoin itself, only the services that currently exist around it.

Re: It’s easier and cheaper to use bank wires than Bitcoin

#8

Post by dragontamer » Thu, Sep 29, 2016, 4:39 PM UTC

compil3r wrote: post #5

Bitcoin was never intended to reduce the cost of Banks, but rather supply an alternative.

The number of people saying BTC is cheaper than Paypal continues to be huge.

Re: It’s easier and cheaper to use bank wires than Bitcoin

#9

Post by jknoepfler » Thu, Sep 29, 2016, 4:39 PM UTC

eriknstr wrote: post #4

d33 wrote: post #2

Excuse me, but how much is it a Bitcoin problem as opposed to being a Bitcoin ecosystem problem? You can't blame Bitcoin for every problem with each exchange.

What good is Bitcoin if the ecosystem is bad?

It's pretty handy for money laundering and buying/selling illegal goods.

Re: It’s easier and cheaper to use bank wires than Bitcoin

#10

Post by nicky0 » Thu, Sep 29, 2016, 4:39 PM UTC

eriknstr wrote: post #4

d33 wrote: post #2

Excuse me, but how much is it a Bitcoin problem as opposed to being a Bitcoin ecosystem problem? You can't blame Bitcoin for every problem with each exchange.

What good is Bitcoin if the ecosystem is bad?

If everybody used bitcoin for everything, then there would be no need for exchanges, payment gateways and the like. This stuff is added cruft.