Bitcoin is better than your bank! | Bitcointalksearch.org

Rafiqul

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Quote from: bitbunnny on February 09, 2020, 05:37:56 PM

Well, Bitcoin gives us more freedom than traditional fiat currencies and using it we are not depending on banks.
However, we still can't rely only on Bitcoin. People still earn their money in traditional currencies and Bitcoin isn't fully accepted, regulated or introduced formaly into our societies, economy and financial systems.
Like you've said many people still don't know much about Bitcoin, don't trust it, don't have access to it or simply not interested to use it.
I don't think that is going to change any time soon and majo of people will remain dependent on fiat currencies and banks, that is the fact.

You are right; I totally agree with you on this. The problem is that most people in the world do not know or believe in bitcoin, although there is freedom, privacy and the possibility of making more money. So I guess right now we don't have a chance to say that bitcoin is better than Bank.

1scripter

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Storing your funds in bitcoins can make you rich. Storing your funds in a bank - no.

MascharonoM

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Bitcoin is getting much more popular day by day. I already invested my money on this project.

AjithBtc

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One of the user mentioned that his transactions were private with bank, and with bitcoin the transactions were broadcasted to the world. How this person state his transactions were private, somehow a third person is moving the funds when he go to the bank to deposit and to withdraw. Just to eliminate the third person involvement everything is transparent and the end users weren't unknown when making transactions between two addresses.

Santly

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Quote from: Chris Barth on February 09, 2020, 04:48:10 PM

Many people are just ignorant about bitcoin and I believe that writing an article (as a writer I am) is worth it for bitcoin. Therefore, I decided to write this article to help elaborate (https://link.medium.com/X934BlPLW3).
Please endeavour to READ! and share it too.
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

Some people misunderstand the nature of bitcoin or cryptocurrencies or are too afraid to attempt investing in it. I have been reading about a few, and I thought coin-to-coin cryptocurrency exchange would be a great start. Like PROBIT, for example, it has been doing well recently. Jumping into a new business, I'd worry most about security. I found that PROBIT got really good security. they support FIDO U2F and use hardware security keys and a software-based 2FA. To examine exchange website security, I used in Mozilla's Observatory-test, and ProBit received a B-score. This is better than most exchanges, which had shown me Fs and Ds. You could try it yourself: (https://observatory.mozilla.org/), just write (www.probit.com) or any other website you want to check.

Janation

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Quote from: aakashsangwan on April 25, 2020, 02:12:45 PM

Bitcoin is a lot better than putting your money in a bank without any guarantee of its safety.

And that is the same with Bitcoin.

You can't always guarantee the safety of it in your wallet especially if you have a little knowledge about securing it. Hacks and scams always happen and if you are unaware of it, I think it is better for you to save your money in the bank. Another thing is that we never know when it will drop and when it will pump.

It is more of a sepculative asset than a way to "save" your money.

Lasky366

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Look, Bitcoin Given us lots of freeness.We can spend it anytime whatever we want.But it's another truth is Bitcoin is not fully publiced or accessible in worldwide. Lots of institution don't expect bitcoin as payment method. So we are still depending on Bank. So for now we have no scope to call that Bitcoin is better than Bank.

MicroGuy

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At least at my bank I can withdraw cash and make private transactions.

With Bitcoin all of my transactions are recorded forever and broadcast to the World.

FanatMonet

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Quote from: Eplus_Team on April 27, 2020, 06:35:35 AM

I strongly agree that bitcoin is better than a bank. I like bitcoin because it keeps my privacy, and it's very easy to do
transactions with bitcoin. The most important thing is that bitcoin can make a profit. Unlike a bank whose technology is too
old, it is not suitable to use right now. And the most terrible is the product of the bank, there is nothing as profitable as
bitcoin. Many governments are now corrupt and want to enrich themselves, in my opinion that's the main reason they
refused bitcoin until now...

You are right, but still you can’t talk about complete anonymity, it is not achievable, if you need to be found, then you will be found, there is no doubt about it.
The trump card of banks is the ability to get money back if something happens, with crypto currency, if it is stolen, it is very doubtful.

whyrqa

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Quote from: ritu_bd on April 27, 2020, 07:41:39 PM

I am an expatriate I came to Saudi Arabia to earn money but, I have not got any good job in this country yet due to which, I have to go to new department every day for work, some days in Medina, some days in Makkah, some days in Jeddah, now I am here Jizan, but it is impossible for me to know and know where a bank is in each department, moreover, there is the problem of having a bank account, which is the reason for the increase. It would not have been possible to pay for my family's expenses if it were not for Bitcoin, which is why I now trade Bitcoin. I live anywhere in Saudi Arabia when my family needs what I can immediately fulfill by selling Bitcoin, which was not possible if through a bank. So comparing a bank with Bitcoin is like comparing a tenant with a king.

most likely it is not about comparing Bitcoin and the banking system, but about what is safer and more profitable for the user to have funds in Bitcoin in their BTC wallet or to have a bank account. in any case, if you consider personal funds in a bank account, then you practically do not own this money, since the numbers on the monitor of the ATM show the amount of the bank debt to you and nothing more. if the bank has any problems, then it is more likely that you will lose these funds. Of course, if state programs are not created to protect the rights of money depositors. but nevertheless, the banking system is not transparent and outdated, as you said. Thus, it is the Bitcoin blockchain that gives complete freedom of action for the user, from the safety of their funds, to their seamless use.

ritu_bd

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I am an expatriate I came to Saudi Arabia to earn money but, I have not got any good job in this country yet due to which, I have to go to new department every day for work, some days in Medina, some days in Makkah, some days in Jeddah, now I am here Jizan, but it is impossible for me to know and know where a bank is in each department, moreover, there is the problem of having a bank account, which is the reason for the increase. It would not have been possible to pay for my family's expenses if it were not for Bitcoin, which is why I now trade Bitcoin. I live anywhere in Saudi Arabia when my family needs what I can immediately fulfill by selling Bitcoin, which was not possible if through a bank. So comparing a bank with Bitcoin is like comparing a tenant with a king.

Eplus_Team

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I strongly agree that bitcoin is better than a bank. I like bitcoin because it keeps my privacy, and it's very easy to do
transactions with bitcoin. The most important thing is that bitcoin can make a profit. Unlike a bank whose technology is too
old, it is not suitable to use right now. And the most terrible is the product of the bank, there is nothing as profitable as
bitcoin. Many governments are now corrupt and want to enrich themselves, in my opinion that's the main reason they
refused bitcoin until now...

Pamadar

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Quote from: Ifra24 on April 26, 2020, 11:03:07 AM

Quote from: joeperry on February 11, 2020, 10:08:17 AM

Today, Bitcoin can't be controlled by the banking systems because they don't have an intermediary and are fully decentralized. This is the principal reason why it is better than your bank. Moreover, it doesn't have spending limits, it can be used to settle international finances and it can be accessed anytime and anywhere without the burden of paying high transaction fees.

But not without risk, crypto if not regulated can disrupt the stability of the national financial system if there is a bubble burst. Te reason there is interaction between virtual currencies and the real economy. There is a high risk of volatility price, because the value determined on the expectations of future supply and demand or speculative, "

If not regulated the value will continue be speculative, there are reasons being much better than banks and also reason why risk are in need to consider.
Take time to work with deeper understanding in order to choose your position knowing the benefits and all the potentials should be taken place before you deal with crypto market.

andisuk

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Quote from: Janation on April 23, 2020, 12:41:51 AM

Quote from: Chris Barth on February 09, 2020, 04:48:10 PM

Many people are just ignorant about bitcoin and I believe that writing an article (as a writer I am) is worth it for bitcoin. Therefore, I decided to write this article to help elaborate (https://link.medium.com/X934BlPLW3).
Please endeavour to READ! and share it too.
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

We can't really push people to use it if they don't want to.

But then again, Bank vs. Bitcoin has its fair share of debate in the past and until now, people are still using banks despite them investing and holding Bitcoin and other cryptocurrencies. We can't just force people to use Bitcoin and tell them that it is way better than the Banks, why can't we just introduce these people into Bitcoin and tell them the reasons why they should use it, not tell them how good is it against Banks or the government.

absolutely right, we can not force a will on others, because there are so many different thoughts about bitcoin, and the banks themselves will never be separated from our lives because the bank is the one who regulates the finances of a country

Ifra24

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Quote from: joeperry on February 11, 2020, 10:08:17 AM

Today, Bitcoin can't be controlled by the banking systems because they don't have an intermediary and are fully decentralized. This is the principal reason why it is better than your bank. Moreover, it doesn't have spending limits, it can be used to settle international finances and it can be accessed anytime and anywhere without the burden of paying high transaction fees.

But not without risk, crypto if not regulated can disrupt the stability of the national financial system if there is a bubble burst. Te reason there is interaction between virtual currencies and the real economy. There is a high risk of volatility price, because the value determined on the expectations of future supply and demand or speculative, "

ampere

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OP, i do not think people are ignorant about bitcoin, situations as this has to ve judged based on personal experiences.
Citing me as an example, i can ration the use of fiat and bitcoin simultaneously and conveniently, and i would judge, bitcoin is not yet on the standards of fiat, because in my country, you literally cannot do anything with bitcoin here so how is it better??

On the contrary, do what suits you best and always do your own research

wiss19

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It all depends on what exactly you want to be doing with bitcoin. I have a friend who is a freelancer. He doesn’t invest his money in bitcoin, but he’s always making use of Bitcoin to receive payment from his clients and then sell the bitcoins and convert the money to cash and straight to his bank account. It’s not a must that you will invest in bitcoin, you can use it in different ways, you can just be using for transactions or you can use it is as a storage/savings and investment.

Bitcoin really good when you use it for transaction and is way more better than when you’re using other payment methods like PayPal, Credit Cards, Remittances, bank wire, etc. When you’re making use of Bitcoin, you pay low fees for transaction, you have 24/7 access to your wallet, and you don’t need anybody’s permission on how to use it.

Paycoinzzz

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Quote from: Chris Barth on February 09, 2020, 04:48:10 PM

Many people are just ignorant about bitcoin and I believe that writing an article (as a writer I am) is worth it for bitcoin. Therefore, I decided to write this article to help elaborate (https://link.medium.com/X934BlPLW3).
Please endeavour to READ! and share it too.
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

I don't know how long you have been in the crypto market but I feel that this is the way newbies think. I used to acclaim Bitcoin as digital gold and I keep telling my friends about its remarkable growth in the future regardless of the economy. but when the covid came and the two days of strong selling by the whales made me rethink my opinion. I think this is a manipulation game and the way to win is to guess the whale psychology. If you can't and go against the crowd, you will soon lose everything.

Lorence.xD

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Thinking that bitcoin is better than is too far fetch, though it is not inherently wrong there are some advantages that you can have when you opt out for a bank. This is some that I know but I am no expert so take this with a grain of salt.
1. Insurance - with banks being protected by finance security and commisions, you can ensure that your money is protected though there will be a lot of paperwork (more paperwork if you are a victim of fraud) so you need to know your way around bureaucracy.
2. Offers - banks have offers that can help your money grow like mutual funds or index funds, bonds, though you need to constantly deposit money to it. It may sound crazy but this offers can help you grow your money instead of earning an interest per annum of your money just sitting at your bank.

These are just some of advantages that I know of when it comes to banks, feel free to weigh your decisions, if you want to put your funds on bitcoin it okay albeit they have different advantages.

cheater detector

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I think we are here because we're know it how the bitcoin is better than any fiat or bank. If you read on bitcoin whitepaper, the goal of satoshi create bitcoin is to against the third parties or financial institution

Quote

A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution

https://bitcoin.org/bitcoin.pdf

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