Quote from: LogitechMouse on August 01, 2024, 03:56:11 AM

I'm not an expert, but I'll try to say what I understand about this scenario (whether it's true or not).

Quote from: Familian on July 31, 2024, 08:50:41 PM

I transferred some amount of cash to someone to get me a few items I would be needing for my project at hand, a day after I received a call from the him that his account has been freezed due to the amount received into the account that the bank told him it was above the account grade and he has to come with some required documents for the upgrade to a higher tier and this has to shift my schedule I have arranged for my project to a day further.

How much is the amount that you put into your friend's account? I mean you know that you are transferring a huge amount of money. Why didn't you ask the limits of his bank including the amount of money that he can receive on a daily/monthly/yearly basis? That's being irresponsible on your part. Take note that you're transferring a huge amount of money (huge enough to make an account freeze), so at least put the limits into consideration.

Quote from: Familian on July 31, 2024, 08:50:41 PM

While I was with a feeling of disappointed I recalled I have been stacking a few unit's of bitcoin in my wallet and have never experienced this crazy shit neither have I heard any bitcoiner make such a lousy complain about bitcoin whatever the amount of bitcoin transfered into their wallet. I don't think there's anyway the fiat system can be compared to bitcoin, the more experiences I encounter the more I see how advanced and greater purposes bitcoin serves.

Well, that's the power of decentralization. Nobody can freeze your account (in this case, wallet) even you transfer billions of Bitcoins. The thing about these banks is, they can just freeze your account anytime they wanted to as long as they have seen suspicious transactions on your account. They might saw your transaction as somewhat "suspicious" because of the fact that it's a huge one hence, they froze your friend's account.

At the end of the day, there are still things that only Bitcoin can do but at the same time, there are also things that only the current fiat system can do.

Yes I agree with you, Bitcoin can do a lot of things but not all the things centralized banking system could do that it may handle effectively and accurately, so for instance,if you send money using the traditional banking system to a customer successfully and he tries to deny it you can Sue him with his name on the transaction details and it will be judges friendly than when you initiate such transactions with his BTC wallet address and many more, we just need to check what we what, how we want it with respect to time and safety be centered in our heart or the advantages and disadvantages before choosing means or mode of transacting...