Sorry to say but i am not somehow agree with you with saying that crypto is more good then banks. Because In my opinion and we all know that amount in banks are more safe then amount in crypto wallets.
Otherwise you are also right because there are a lot of benefits of it we can change our life with crypto.
Topic: Bitcoin is better than your bank! - page 7. (Read 1199 times)
For me, i strongly believe that until bitcoin can virtually compete in the local markets with local currencies, only then will it be better than the bank.
I can say virtually that everyone converts their profits from trading btc to their bank accounts to run their day to day bills.
I saw some words regarding using bitcoin for large transfer across countries, thats right, but how many people actually do that on average ?
For now, bitcoin is thriving well, but not on the standards of being better than a bank. I will love to further learn more.
I can say virtually that everyone converts their profits from trading btc to their bank accounts to run their day to day bills.
I saw some words regarding using bitcoin for large transfer across countries, thats right, but how many people actually do that on average ?
For now, bitcoin is thriving well, but not on the standards of being better than a bank. I will love to further learn more.
No doubt about that! I barely save any huge amount of monies in the banks because they give only pennies on any investment plan they offer. One issue that actually got me off saving hugely in banks is the fact that some monies of some of their users are taken if any unforeseen circumstances occur and relatives are not able to contact the banks.
You also don't get to spend your money at your own will and freedom when you save at the banks but with Bitcoin it's the opposite!
Bitcoin really gives us financial freedom wherein we can manage our own expenses without the presence of a bank and this is totally opposite to the concept of fiat. But since the world in general isn't ready for an innovation, let us try to enjoy the two parties by taking their advantages with fiat as our main currency and bitcoin as an alternative one and as a good source of investment wherein most people in this community are enjoying it. You also don't get to spend your money at your own will and freedom when you save at the banks but with Bitcoin it's the opposite!
It is too early to say that bitcoin owners can do without the banking sector. We all have to make purchases and pay for various services every day. But today, the service industry is not ready to accept payments in bitcoins, and we are forced to use banking services for this.
No doubt about that! I barely save any huge amount of monies in the banks because they give only pennies on any investment plan they offer. One issue that actually got me off saving hugely in banks is the fact that some monies of some of their users are taken if any unforeseen circumstances occur and relatives are not able to contact the banks.
You also don't get to spend your money at your own will and freedom when you save at the banks but with Bitcoin it's the opposite!
You also don't get to spend your money at your own will and freedom when you save at the banks but with Bitcoin it's the opposite!
Volatility is the only thing which is holding most of us back from adopting crypto but we need to accept the fact that volatility is the only thing which will be constant in crypto world and as far as I have seen most of us store bitcoin to sell it at the right moment as it's an asset for us and people reframing using bitcoin on daily transaction at least during the good market situation or bull run.
Volatility is for the good of Bitcoins and crypto because Bitcoins are limited in number and it needs that volatility to reach to its real value some day and that's the fun of crypto that nobody knows what is the actual value of Bitcoins. So when we have that fun to play with, why should we put a lot of focus on it?
Volatility is the only thing which is holding most of us back from adopting crypto but we need to accept the fact that volatility is the only thing which will be constant in crypto world and as far as I have seen most of us store bitcoin to sell it at the right moment as it's an asset for us and people reframing using bitcoin on daily transaction at least during the good market situation or bull run.
Volatility is for the good of Bitcoins and crypto because Bitcoins are limited in number and it needs that volatility to reach to its real value some day and that's the fun of crypto that nobody knows what is the actual value of Bitcoins. So when we have that fun to play with, why should we put a lot of focus on it?
Still, comparing bitcoin with banks is a little incorrect, at least for now, you can observe very strong drops and price increases, which is simply impossible in the case of any fiat currencies. And many people are simply afraid that Bitcoin could fall dramatically.
They just ignore Bitcoin it is just because of uncomfortable situation which they don't want to understand and don't want to take the risk.
And we are glad enough to see its futuristic features that everyone had enjoy more than of fiat money can do. However, its volatility seems to be closing some minds into their ignorance and not knowing how Bitcoin and cryptocurrency make a better life. In fact, Banks seems to be helpless we are totally engaged in crypto and used bitcoin for our daily transactions.
And we are glad enough to see its futuristic features that everyone had enjoy more than of fiat money can do. However, its volatility seems to be closing some minds into their ignorance and not knowing how Bitcoin and cryptocurrency make a better life. In fact, Banks seems to be helpless we are totally engaged in crypto and used bitcoin for our daily transactions.
Volatility is the only thing which is holding most of us back from adopting crypto but we need to accept the fact that volatility is the only thing which will be constant in crypto world and as far as I have seen most of us store bitcoin to sell it at the right moment as it's an asset for us and people reframing using bitcoin on daily transaction at least during the good market situation or bull run.
While you have mostly described Bitcoin's nature, I'd like to point out a fact here that on one hand, Banks which give us max 6% on a savings account while we can get max 8-10% (depending on the country you live in) for a fixed deposit amount, Bitcoin gives us the opportunity to trade it as an asset class of its own where we can invest and earn great returns (hypothetical - based on a case-by-case basis). Last year itself showed how BTC gradually increased in its value from its bottom at $3200 to around $14300, which totals it to ~4.5x return for which you'll need to wait your entire life if you want this type of return from a Bank with a specified decided amount.
Because you married a new wife should not be an opportunity for you to insult the old wife brother, because what made you to insult the old wife will one day make you to insult the so called new wife. Is bank a currency? If your answer is no why then do you have to compare Bitcoin to bank.
lol, Banks are equated with new wives and old wives, but in reality like that, blockchain technology is a very good technology for transactions because all transactions are neatly recorded in digital form and cannot be erased and can be seen by everyone transparently into more value for blockchain technology. 
They just ignore Bitcoin it is just because of uncomfortable situation which they don't want to understand and don't want to take the risk.
And we are glad enough to see its futuristic features that everyone had enjoy more than of fiat money can do. However, its volatility seems to be closing some minds into their ignorance and not knowing how Bitcoin and cryptocurrency make a better life. In fact, Banks seems to be helpless we are totally engaged in crypto and used bitcoin for our daily transactions.
And we are glad enough to see its futuristic features that everyone had enjoy more than of fiat money can do. However, its volatility seems to be closing some minds into their ignorance and not knowing how Bitcoin and cryptocurrency make a better life. In fact, Banks seems to be helpless we are totally engaged in crypto and used bitcoin for our daily transactions.
Volatility is the only thing which is holding most of us back from adopting crypto but we need to accept the fact that volatility is the only thing which will be constant in crypto world and as far as I have seen most of us store bitcoin to sell it at the right moment as it's an asset for us and people reframing using bitcoin on daily transaction at least during the good market situation or bull run.
Because you married a new wife should not be an opportunity for you to insult the old wife brother, because what made you to insult the old wife will one day make you to insult the so called new wife. Is bank a currency? If your answer is no why then do you have to compare Bitcoin to bank.
Hahaha, your illustration is quite funny but at the same time, I understand your point. The bank can't be set aside because of Bitcoin.
Also, OP, I believe many people really want to use Bitcoin but are not opportuned. It's either they live in regions where there is restriction of Bitcoin or can't afford to own some. We hope for the future where the relationship between bank and cryptocurrency will become a thing. Not the other way around.
Because you married a new wife should not be an opportunity for you to insult the old wife brother, because what made you to insult the old wife will one day make you to insult the so called new wife. Is bank a currency? If your answer is no why then do you have to compare Bitcoin to bank.
Bitcoin is a currency and online payment method.
Bank is only a payment method (most even not online)
We have online banking and bitcoin is an option and a different market all together and if you are planning to invest in bitcoin you need the banking sector to send your money, if not how we are able to purchase any crypto if not with the help of banking sector.Bank is only a payment method (most even not online)
But in nearest future, I think, Banks will accept bitcoins, and provide different additional services regarding it. This industry is also very clever and could transform.
The fact is we do not need the banking sector to accept bitcoin as anyone can hold the coins without the help of a third party and that is the difference between the rest of the financial sector. Deposits, credits, card issues - that's all about bank sector.
This argument will be addressed differently if we understand the better use of the two. At a point I was looking for the better option of use of fiat to stable coin in bear market but I noticed most experience investor save in fiat not stable coin. Bitcoin is the best asset available in the world at the moment, asset are not spent but stored until it appreciates then sell for profit, same is bitcoin. The profit can be best stored in fiat (in bank) for reliability, this fiat are traded to asset at when due in the bear.
Bitcoin is a currency and online payment method.
Bank is only a payment method (most even not online)
We have online banking and bitcoin is an option and a different market all together and if you are planning to invest in bitcoin you need the banking sector to send your money, if not how we are able to purchase any crypto if not with the help of banking sector.Bank is only a payment method (most even not online)
But in nearest future, I think, Banks will accept bitcoins, and provide different additional services regarding it. This industry is also very clever and could transform.
The fact is we do not need the banking sector to accept bitcoin as anyone can hold the coins without the help of a third party and that is the difference between the rest of the financial sector.
It is hard to convince such people that's right because even I would confess that if I was knowing bitcoin so deep even I would laugh if even someone tried to tell me that bitcoin is superior than banks.
But because I have been part of the community and know how it work that gives me the courage to actually think and say that bitcoins do edge over banks for a number of reasons one of them being that you have to never worry about your bank itself since you have your bitcoins in the wallet of your choice,m you hold its private keys and you only know about it. Also money in cash has its own issues of being theft while you might have 100 BTC and get out clear from some thieves because they don't know about bitcoins
But because I have been part of the community and know how it work that gives me the courage to actually think and say that bitcoins do edge over banks for a number of reasons one of them being that you have to never worry about your bank itself since you have your bitcoins in the wallet of your choice,m you hold its private keys and you only know about it. Also money in cash has its own issues of being theft while you might have 100 BTC and get out clear from some thieves because they don't know about bitcoins
I agree. Bitcoin is a cryptocurrency that uses the peer-to-peer method to operate without an intermediary such as the banking system. Bitcoin is resistant of inflation, and is not governed by any government. 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.
If you don't take risk on investment, bitcoin would seem to be better than saving in banks. The market value of Bitcoin is moving from time to time, and everytime the market value goes up, profit will be earned for sure. But movement of the price includes downfall of its value which is the rsik from doing so. Unlike in banks that the value remains the same. It is quite a matter of preference of an individual. Investment is different from saving, in the first place.
They just ignore Bitcoin it is just because of uncomfortable situation which they don't want to understand and don't want to take the risk.
And we are glad enough to see its futuristic features that everyone had enjoy more than of fiat money can do. However, its volatility seems to be closing some minds into their ignorance and not knowing how Bitcoin and cryptocurrency make a better life. In fact, Banks seems to be helpless we are totally engaged in crypto and used bitcoin for our daily transactions.
We just cannot blame them from avoiding taking the risk especially if their aim is to not earn profit and rather, just to save their money. Volatility is the main thing, the market price tend to change a lot and such aspect is not preferred by all people. And we are glad enough to see its futuristic features that everyone had enjoy more than of fiat money can do. However, its volatility seems to be closing some minds into their ignorance and not knowing how Bitcoin and cryptocurrency make a better life. In fact, Banks seems to be helpless we are totally engaged in crypto and used bitcoin for our daily transactions.
I wouldn`t say that bitcoin is better than banks and i dont see a lot of people who is arguing about bitcoin in the world. Banks at the moment are safier to keep your money, but if you wish to gain profit than ofcourse it is better to use bitcoin and invest in it.
As long as people don't suddenly decide to withdraw their money... (Ie. world panic).
It only takes about 10%, worldwide of simultaneous withdraw to crash the system (and world economy). People are largely unaware of how fractional reserve banking works, else they would be very scared.
Banks safe? Heh, you should start reading about fractional reserve banking...
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