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      12-20-2013, 08:44 PM   #52
gatorfast
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Quote:
Originally Posted by kmarei View Post
The best thing is, if this takes off, it could revolutionize the entire banking sector.
I'll give you an example
I was trying to buy bitcoins to buy the hardware. I had to do a bank transfer which took 4 days!
If I have bitcoins and I want to send you some
I can do the transfer from my iphone and its instant
And no fees or restrictions like banks
)
I've seen this argument a lot and it's pretty weak IMO. Bank transfers are generally much quicker than 4 days and there are vehicles such a paypal which transfer funds instantly and free of charge as well.

The reason I would never invest in bitcoin is that no matter how many times and by how many people explain it to me, it still makes absolutely no sense and no one can give me a valid reason why a bitcoin is better than a dollar. Only aspect of utility I see in it is that it's ananymous and untraceable. So basically it's good for illegal payments if that's your thing...