Re: Banks and Bitcoin

Damnit that sucks if that happens. Thats why BTC is better (no one can freeze your account)

If you are law abiding citizen and you have no debts then there is very little chance that your bank's account will be freezed. I hate banks in general, they are part of old system designed to rip out every penny from people, but I did not see many cases of freezing accounts without proofs that this account is indeed owned by dishonest fraudster. I may be wrong tho.

When the government is in trouble, they can always take a bite out of your bank account. Thank Cyprus.

Yes bitcoin users is not affected!

http://i.imgur.com/RWejUGt.png

It is true that Bitcoin users are generally unaffected by these problems. But that doesn't mean bitcoin is panaceum and the best way to bank money. Bitcoin in its infancy state is plagued by other problems, and who knows if they are not more severe than ability to 'open an account overseas'. Bitcoin volatility is in eyes of many people the worst trait to deal with and nothing is worse that to wake up and see that you lost 1/3 of your bitcoins overnight just because some bubble popped out..