Bitcoin is better than your bank! - page 3.

turkandjaydee

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Quote from: lienfaye on April 22, 2020, 08:34:02 AM

Plus I like the fact that it can be an investment because of the price fluctuation.

Actually price fluctuation isn't good for investment. For investment, stable growth is better. And price fluctuation is only good for an expert trader.

Quote from: lienfaye on April 22, 2020, 08:34:02 AM

I just hope that more merchants start to accept it as one of the payment method so it wont be hard to use btc as currency since many recognized it already.

More merchants like how many? I read there are many countries that are still banning such cryptocurrency things. So to be accepted globally, it will very unlikely to happen in the near future for cryptocurrency.

Quote from: princesspoppy on April 22, 2020, 11:02:01 AM

There are people who prefer to use banks other than these new technology that some can't really understand.

Logically, banks are suitable for careless people or people who don't want the hassle of securing their money because banks provide things like transfer-limit, identity confirmation, and even reverse transactions.

princesspoppy

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Well, there are many options out there that are available to make payment and receiving transactions for whatever reason we have. There are traditional way like banking system and using cards and there are newer and more advance ways like using cryptos and e-wallets out there. But, I don't really see the point why do we have to compare such systems because we all know that all people can make their own decisions in life, most especially when it comes to their money. There are people who prefer to use banks other than these new technology that some can't really understand. But some also wants to embrace these new techs. I don't see any problem with that tho.

Swapzone

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Bitcoin, or Crypto, in general, solved a lot of problems and broke many limits we had since the creation of money.

bitbunnny

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I wouldn't put things so plain and simple.
Everything has its advantages and disadvanateges and so it's with Bitcoin and banks too.
Of course that we all would like to be free from banks and be our own bankers but we have to face the truth.
Bitcoin is still not accepted enough and regulated, very small number of people in.the world is using Bitcoin and other cryptocurrencies and it's not even available to everyone.
So in situation like this we still depend on fiat money and need banks and thus it's not so easy to say what is better.

MCobian

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Of course bitcoin is better than banks, which I like the most from bitcoin is our privacy-protected . Because for bitcoin transactions we don't
need to provide personal data, in contrast to the bank. To open an account at a bank we are required to submit personal data documents.
There are many other benefits of bitcoin compared to banks. As there is no limit to making transactions, transfer fees between countries are
more cheap and with bitcoin can make money too. By knowing the benefits of bitcoin I am increasingly convinced that bitcoin is better when
compared to banks.

Anonylz

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The advantages of banks are still far more greater than what btc can offer as of now, so don't get it twisted, btc is very handy in some ways but not in every aspect, I don't know why people keep trying to make comparison between the two when we know there are several distinctive functions that separate them,
And as for kyc, really why this is an issue when people already passing through such process from childbirth, when you are born, hospitals take your information for record keeping, you go to school same thing, you apply for a job same thing and the list goes on.
So bank and btc plays different role to better our lives.

lienfaye

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When im still new in using bitcoin im hesitant to introduce it to others because of the volatility. But now I can say that bitcoin is way better than banks, being decentralized that no one can control is the best part of it.

Plus I like the fact that it can be an investment because of the price fluctuation. I just hope that more merchants start to accept it as one of the payment method so it wont be hard to use btc as currency since many recognized it already.

carlisle1

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Quote from: ife2020 on April 22, 2020, 05:35:51 AM

I don't want to disregard your claims but bitcoin is not better than the bank.
the bank serves several functions that benefits the poor and the rich even if it means mortgage funds (borrowing)

Respecting your stand but have you been really using Bitcoin?or i mean have you tried invested inside crypto?

Quote from: ife2020 on April 22, 2020, 05:35:51 AM

But the poor cannot benefit from bitcoin cos they can't afford buying lots of it for investment.

There is no need to Buy Bitcoin as the poor can have works here or in other sites that they can accumulate Bitcoins.

Quote from: ife2020 on April 22, 2020, 05:35:51 AM

Likewise, banks had the last laugh, because people sold off their assets for fiat in a bid to survive the pandemic and eat during lockdown why was bitcoin not used to buy food.+?

Depend in which country are you referring and i am sure you are living in place where Bitcoin is not yet adopted so there is no chance of using this to buy foods.

Quote

Bitcoin will become better and widely accepted such as fiat, but until then fiat /bank are better

so at least you admit that there will be a chance of being Bitcoin will be much better in banks?

CarnagexD

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Quote from: ife2020 on April 22, 2020, 05:35:51 AM

I don't want to disregard your claims but bitcoin is not better than the bank.
the bank serves several functions that benefits the poor and the rich even if it means mortgage funds (borrowing)

But the poor cannot benefit from bitcoin cos they can't afford buying lots of it for investment.

Likewise, banks had the last laugh, because people sold off their assets for fiat in a bid to survive the pandemic and eat during lockdown why was bitcoin not used to buy food.+?

Bitcoin will become better and widely accepted such as fiat, but until then fiat /bank are better

Today one of the most controversial topics today are with the use of bitcoin and the bank from the previous years of the bitcoin it is just decentralized many people are using this and does not have any limitation because no one controls it but by adoption many people today are using the bitcoin and some of them does not want to have trouble to their wallets and now they want to make a move of acceptance of the bitcoin from the previous year they are now slowly accepting the use of the bitcoin as the payment but the people do not have enough to their needs still they have trouble for making cash out of their founds because they want to easier and at the same time like atm that does not require too much verification and also it is more convenient I think better is bitcoin with banks because there is a lot of atm today and banks support the process of bitcoin to make easier and helpful to the users.

ife2020

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I don't want to disregard your claims but bitcoin is not better than the bank.
the bank serves several functions that benefits the poor and the rich even if it means mortgage funds (borrowing)

But the poor cannot benefit from bitcoin cos they can't afford buying lots of it for investment.

Likewise, banks had the last laugh, because people sold off their assets for fiat in a bid to survive the pandemic and eat during lockdown why was bitcoin not used to buy food.+?

Bitcoin will become better and widely accepted such as fiat, but until then fiat /bank are better

zeingrind777

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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 agree that bitcoin is better than banks, but in real life, we still need banks. Likewise with fiat money. In real life, we don't always use bitcoin or cryptocurrency, we also need fiat money in traditional transactions such as buying vegetables to farmers or giving money to children.

NavI_027

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Quote from: hotmom on April 22, 2020, 04:57:24 AM

That is why I do not have an active bank account, I keep my funds in bitcoins and gold.

Okay, I understand that you diversify your money cryptocurrency and gold. I admit that you did a great choice but my question is where did you store your cold hard cash? I mean, I'm just wondering where you save it since you are not having bank accounts. Huh

Hmm, in my opinion, there's nothing wrong of relying on banks because safety vaults and piggy banks are not 100% safe for storage. Plus, there is now a law against money/coin hoarding.

Bitcoinislife09

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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.

I guess even if bitcoin was already popular and useful we still cannot fully trust this compared to banks or fiat money which is more traditional but surely after years it might happened.

Bitcoin is one of the cryptocurrency, bitcoin is not simply a cryptocurrency but it is the leading cryptocurrency. Through bitcoin someone can gain and earn so much money as they are investing their money. In bitcoin your money may be higher compared to your money at the bank. Bitcoin can be an aid to make the money of other people be productive. You may just invest your money online and wait for the charts and trades and from that your bitcoin has the ability to become higher and you cab gaet so much return on investment.

hotmom

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That is why I do not have an active bank account, I keep my funds in bitcoins and gold.

FanatMonet

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Here you can even drown what people can know about Bitcoin, but it is not for them any serious financial instrument that they could use. Here, there is a very fluctuating course, and various mechanisms of whales that can manipulate the price.

rexxarofmoknathal

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At least in todays' terms BTC does indeed seem a lot better than any of my Banks which btw have now reduced the interest rates by more than half due to the virus.

As much as I appreciate BTC and recommend to others as I truly believe that crypto is the future, I also urge new comers to research thoroughly before investing money into crypto as we all on here know how painstaking/risky using the wrong exchange platform can be, never mind the risk of hacking but hey the rewards makes it all worth it

Youghoor

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Hell yeah! It is only those who are still being deceived by the banks that investing with banks is better and more secured than with Bitcoin. I am sure once they get to know more about this amazing technology, they would have a change of mind. Some of us were also skeptical in the very first place but once we got to know how the system works we have fund refuge in it.

online73

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Hello everybody. Yes, I read the article - I liked it. The only thing I would like to change the word Bitcoin to a word is cryptocurrency, because there are still cryptocurrencies that are many times faster to transfer and the transaction cost is not comparatively cheaper. And so, the main idea that cryptocurrency is better than a bank - I fully support it. By a personal example, I show my acquaintances and friends the benefits. Nevertheless, the people are zombified by the media, because in my country I have never heard the positive coverage of cryptocurrencies, and most of my friends do not support me. Time will judge us all.

Huntler1993

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Absolutely, the little things we do later turns to make us great. Bitcoin, bitcoin forum, social media platforms(facebook, twitter, IG) .... just name it everything even the earth that we are on wasn't like this when it was created. Little by little we realize the change and how realistic things become... BTC worth nothing some years ago, it was in the system but no one was interested in it over a decade now people are rushing for it many are willing to join but are scared of it price. Those who were privilege to see BTC go through the developmental stages always curse themselves...Had I known is always the the saying of a ''fool". You just believe in banks just because you haven't tried something new( BTC) you will then realize that all these financial institution are just making life like hell for you

alizarosa3123

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Be that because it may, we despite everything can't depend just on Bitcoin. Individuals despite everything win their take advantage conventional monetary standards and Bitcoin isn't completely acknowledged, directed or brought formally into our social orders, economy and money related frameworks.

Like you've said numerous individuals despite everything don't think tons about Bitcoin, don't open up to it, don't approach it or simply not intrigued to utilize it.
I don't feel that's getting to change at any point within the near future and major of people will stay reliant on fiat monetary forms and banks, that's the truth .

Topic: Bitcoin is better than your bank! - page 3. (Read 1199 times)