Post
Topic
Board Bitcoin Discussion
Re: Another reason am chosing bitcoin.
by
Huppercase
on 12/08/2024, 14:05:31 UTC
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.

Well, sentiments on one side, it was never your fault that his account got suspended. As an account owner, it's his responsibility to make sure that his account is on top tier level of savings so as to be able to accommodate any amount that comes to his account. I think many banks gives you infinite number of deposits but there is a cap on amount you can withdraw from a savings account.

I don't see the upgrade as big deal, let him go to the bank and provide some papers and under some hours the account will be allow to make transactions more larger than his already cap without any problems.

Quote
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.

Bitcoin gives you upper hand above any other currency you can ever think about but it has its own limitations. The client you paid money to that had his account frozen could have accepted Bitcoin instead of fiat but I guess he wouldn't because not every seller want to go through selling their Bitcoin for fiats again since they are business people and always in need of money. This where is see challenge for Bitcoin since it's not a legal entity in majority of countries.