Bitcoin is better than your bank! - page 5.

Swordsoffreedom

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Quote from: aladin1919 on February 19, 2020, 08:30:27 AM

Bitcoin has a self regulating blockchain and also very independent from the modern financial system like banks
Bitcoin has no regulation guidelines, there are no limits on withdrawals and spending limits with generally lower transactions fees unlike the banking systems a bitcoin transaction costs no more than 1% of its value. Compare that to 2% to 3% for most other digital payments
Blockchain in general and bitcoin specefically has no mediator it is completely decentralized so it cannot be controled by any government
Bitcoin also comes with an intense privacy protections and absolete anonymity...
But with all these advantages we have to mention that bitcoin has its drawbacks
For example there are security issues, risk of theft and fraud in addition to its volatitility which presents a huge risk.

Every transaction method has its own good and bad aspects. But I personally think that bitcoin might be a better version of a bank though it has its own drawback. The most prominent drawback would be the volatility of its price. So, to make the best out of it, people have to be cautious and aware of who they are making transactions with and to make investments based on its price. Although at the end of the day, having a bank to have your back is always relieving.
Bitcoin has just started its journey and is in its preliminary stages, people are needed to be made aware of this system to spread the knowledge of bitcoin and make the best use out of it. Though not many countries have legalized bitcoins, but on the other hand, many countries have started to recognize its worth and are setting up bitcoin ATM's and are inspiring people to do their transactions through bitcoins; which is a great news for the bitcoin users out there.

Slow death

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Quote from: WilderX on February 19, 2020, 06:29:13 AM

I agree with OP and the real Bitcoin is BSV.

BSV is an altcoin that was created by people with obscure purposes and who did not succeed in the plan they will orchestrate because fortunately most people realized that BSV is just another useless altcoin

I don't know what the banks in other countries are like, but in my country when I think about going to the bank I get tired before I even get to the bank, because bank employees take hours to attend to people. If a person is going to deposit money in my country's bank, it will take 2 hours and if that person is going to withdraw money by check, it may take more than 3 hours in the bank. But, we need the banks. That's why I'm in favor of using both

aladin1919

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Bitcoin has a self regulating blockchain and also very independent from the modern financial system like banks
Bitcoin has no regulation guidelines, there are no limits on withdrawals and spending limits with generally lower transactions fees unlike the banking systems a bitcoin transaction costs no more than 1% of its value. Compare that to 2% to 3% for most other digital payments
Blockchain in general and bitcoin specefically has no mediator it is completely decentralized so it cannot be controled by any government
Bitcoin also comes with an intense privacy protections and absolete anonymity...
But with all these advantages we have to mention that bitcoin has its drawbacks
For example there are security issues, risk of theft and fraud in addition to its volatitility which presents a huge risk.

Artemis3

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Bitcoin is better than banks I would agree but not in all aspects. Bitcoin is good for investment yes but work as a bank where you save money bitcoin is a no no. Bank and bitcoin should coexist because we still needs bank for our fiats which we withdrawn from bitcoin.
Banks are more secure than bitcoin we can trust banks more for sure for storing compared to bitcoin because we know anything may happen in the internet in no time.

Indeed the bank can go bankrupt after a bankrun, while such thing would never happen to bitcoin. Have you ever seen a bankrun? Maybe not in your lifetime if you live in one of those "nice" countries, i have seen it three times in my life here already, and most people lost ALL their money, all their savings gone "poof" Just like that (Southpark meme style: "Aaaaand its gone". It even happened to my family "twice" (the idiots) and now we live in poverty.

Keep trusting banks, and study what fractional reserve means, you are in for a big shock. At least Ponzi was caught...

WilderX

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Quote from: Chris Barth on February 09, 2020, 03:48:10 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 with OP and the real Bitcoin is BSV.

1. The real Bitcoin that is Bitcoin Satoshi Vision is already 1500 times cheaper in tx's
2. Can scale to VISA level transactions levels and beyond
3. BSV blockchain usage has already SUPERCEEDED BTC. (see below graphs).
4. Fees in BSV network are only going down as usage grows!!! (see below graphs).
5. We have Satoshi. Craigh Wrigth. Nuff said.

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Quote from: Chris Barth on February 09, 2020, 03:48:10 PM

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.

bitcoin is our complete finance without a central authority that can decide with our finances, this is financial freedom with several advantages compared to fiat currencies, one of them with bitcoin we can make transactions whenever we want, there are no specific hours or days, unlike with fiat currency, we can only do transactions when the bank is open.

One of the advantages of bitcoin compared to banks is that we can trade anywhere while there is an internet connection without having to be hindered by hours like banks and banks can only be valid in one country.

By adding security to users as anonymizer, adding bitcoin becomes one of the finances that is not easy to detect who is the owner, without having to follow the rules to register bitcoin as a new breakthrough in financial concepts in the present and future.

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Quote from: Chris Barth on February 09, 2020, 03:48:10 PM

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.

bitcoin is our complete finance without a central authority that can decide with our finances, this is financial freedom with several advantages compared to fiat currencies, one of them with bitcoin we can make transactions whenever we want, there are no specific hours or days, unlike with fiat currency, we can only do transactions when the bank is open.

Pretty true indeed but we cannot remove the fact that there are still some advantages of having a bank just for an example: Bitcoin can be access through online platform right? then it would be a problem for few places who don't have full access on internet. Basically what I am pointing out is that we were not fully ready yet hence, I would suggest that don't compare Banks into Bitcoin because they have their own advantages and disadvantage, much better if we will practise to use both of them and have an efficient way of transaction.

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Bitcoin is much more honest with us than any bank.

Kelvinid

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With Bitcoin, I can save my money with investment intentions Wink

. Unlike a bank that Kadana locks my money for a certain time, I can withdraw my money whenever I want if I save my money in Bitcoin.
Buy Bitcoin, Make Your Own Bank.

Youre right about bitcoin act of liberty and banks controlled level because bitcoin is decentralized currency while banks is a centralized institution which the reason why the some government and institutions choose not to support bitcoin. But if we check it every well i dont think we should compare the two (bitcoin and banks) together.

Bringing the strong legacy of Bitcoin about being a decentralized market hold some country to decline such given opportunity to the people. Some leaders don't let this technology to grow and don't give some room to develop it simply because they can't benefit themselves for this.

And probably they could suggest and tell everyone that using banks to store their money is safer than of Bitcoin. But if we are an open-minded person we can tell that acquiring this new technology will simply help us to minimize stress and even more productive all da.

Yamifoud

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Quote from: crzy on February 16, 2020, 05:25:19 PM

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Yes, Bitcoin is better than Bank in many ways, like only you own the money, no nominee, nor extra fee, no rules, rather everything in your under control! But we need banks too, Bitcoin won't replace the Bank, which is just impossible.

There’s a lot of pros and cons with bitcoin and its not perfect yet to fully replace banks which I also believe as an impossible things. Banks are here for a good purpose they are just greedy and pro business. We are still fortunate that bitcoin comes into our lives and changes the way we transact, I happy that bitcoin is still decentralized and no government can control this one.

Negative and positive is a common thing to happen and it was accepted by then especially into this kind of market and knowing the fact that many we're still in the doubts about Bitcoin's capability.

But also we have to understand that Bitcoin isn't competing with banks and not the intent to do so. It was just a currency that we can use for buying stuff and bills payment or any online transaction. And the only thing that I could see of its negative effect on the banks is that people haven't used banks to store money but rather to invest in Bitcoin and keep it in digital form.

dongosquad

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Quote from: Chris Barth on February 09, 2020, 03:48:10 PM

~
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.

You have started a good step, by providing education through your article. That will provide enough information about the misunderstanding of ordinary people who consider cryptocurrency especially bitcoin dangerous. If it is shared through social media it will certainly have a wider impact. Lay people tend to be influenced by news on TV and newspapers, which are sometimes too hyperbole and generalized, for example, if there are cases of fraud, scams, etc. even though it's a different niche. In fact, there are still many people who get success by utilizing cryptocurrency in a right and safe way.

crzy

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Yes, Bitcoin is better than Bank in many ways, like only you own the money, no nominee, nor extra fee, no rules, rather everything in your under control! But we need banks too, Bitcoin won't replace the Bank, which is just impossible.

There’s a lot of pros and cons with bitcoin and its not perfect yet to fully replace banks which I also believe as an impossible things. Banks are here for a good purpose they are just greedy and pro business. We are still fortunate that bitcoin comes into our lives and changes the way we transact, I happy that bitcoin is still decentralized and no government can control this one.

BtcATMs

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At least in our case this is true. We have one corporate bank (HK) that took off with more than €20K of our money after 3 years of doing business with them. So we gave up on that bank and opened another account (UK) last November, now last week they shut down their operations and froze all customer accounts due to "their" regulatory problems (why is "their" problem now "our" problem!?!). Banks are a pain in the ass. They require us to file all kinds of paperwork and documentation, they use our money to make money, provide horrendous customer service, then charge us fees for all of this Roll Eyes

.

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Quote from: BuNga_cute on February 16, 2020, 03:59:49 AM

I strongly agree that bitcoin is better than a bank. Besides, I like bitcoin because it keeps my privacy, and it's very easy
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.

Maybe bitcoin is better than bank but bitcoin once drop the price the value of your money will gonna be drop also. I think it's better to keep also money in a bank I know have only small interest once you deposited your money but once dollar drop your money still there and have no decrease.

BuNga_cute

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I strongly agree that bitcoin is better than a bank. Besides, I like bitcoin because it keeps my privacy, and it's very easy
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.

abel1337

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Quote from: Dayx on February 16, 2020, 03:30:45 AM

i don't know man, bitcoin has it's own benefits but bank in some countries still has better benefits than bitcoin, for example in Indonesia all the bank is connected to each other now, so the fee is way more cheaper than bitcoin. i know that you can't get money from just put your money to the bank like bitcoin, but there's still a risk free investment with banks, so i don't think that bitcoin is better than banks right now..

I think it is depending on the place you live and on how much incentives you can get from it. Bitcoin and banks have their own forte and you can sort out the good things about it and the things that you don't like from it so that you can choose from it. I always think that bitcoin is a better choice for me because of the way that banks rule over our country. Also, I don't think that banks are risk-free in our country since I got a huge problem with my money that is stored in the bank way back when I still use bank more than bitcoin.

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Quote from: Dayx on February 16, 2020, 03:30:45 AM

i don't know man, bitcoin has it's own benefits but bank in some countries still has better benefits than bitcoin, for example in Indonesia all the bank is connected to each other now, so the fee is way more cheaper than bitcoin. i know that you can't get money from just put your money to the bank like bitcoin, but there's still a risk free investment with banks, so i don't think that bitcoin is better than banks right now..

We all know that bitcoin today is very popular and many people make a lot of investment in this coin because there is a potential to earn more profit in the next coming days, months or years. After all, it is for long term investment. Today there are a lot of people making more money with the use of trading that you will predict the market price of the bitcoin, gambling that supports the cryptocurrency or the bitcoin for payment to play or to wage and Lastly the investment that you need to wait for a long time market price. One of the reasons why people make bitcoin as payment because it has a less transaction fee than the fiat currency. Even there are a lot of benefits of using bitcoin many people are still focusing to the fiat currency because a country must release a currency and contribute to the world trade transaction also we cannot push other people to work in bitcoin because they are not knowledgeable enough to use it that's why the people will use fiat currency for bank than crypto.

Chris Barth

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Quote from: Alaric05 on February 16, 2020, 02:59:39 AM

I'm new to blockchain technology and as far as I learned about Bitcoin it is one of the best ways to invest and earn easy and quick bucks, no doubt that CryptoCurrencies has begun the revolutionary change in global economy but slow and steady wins the race and that's why when comes to risk free and secure investment banks are the fuels through which engines of economy can always depend on.
If you have proper knowledge of Bitcoin then no doubt crypto world will give you return beyond your imagination.

Quote

I'm new to blockchain technology

Welcome! I feel pleased whenever I see a new person in this crypto space. I hope you don't mind my asking. How did you get to know about bitcoin, the blockchain technology, and the bitcointalk platform?

Chris Barth

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Quote from: Dayx on February 16, 2020, 03:30:45 AM

i don't know man, bitcoin has it's own benefits but bank in some countries still has better benefits than bitcoin, for example in Indonesia all the bank is connected to each other now, so the fee is way more cheaper than bitcoin. i know that you can't get money from just put your money to the bank like bitcoin, but there's still a risk free investment with banks, so i don't think that bitcoin is better than banks right now..

Cheaper? 🤔 Tell me more. Cause last I checked, it'll cost you time and money to send money to anyone outside the country. And you will have to be sending huge payments. But with bitcoin, the transaction fee to send to someone in my country is the same to send to you too. Besides, I can send as small as 1$ to you. I don't see the bank agreeing to send 1$.

Dayx

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i don't know man, bitcoin has it's own benefits but bank in some countries still has better benefits than bitcoin, for example in Indonesia all the bank is connected to each other now, so the fee is way more cheaper than bitcoin. i know that you can't get money from just put your money to the bank like bitcoin, but there's still a risk free investment with banks, so i don't think that bitcoin is better than banks right now..

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