Topic: Bitcoin is more real than money in the Bank (Read 2144 times)

I would say it's more real than the money in the bank. I say this because we know that there is now (and for like almost always) more digital/fake/out of thin air money circulating than there is physical money, like notes, coins in the banks vaults. The easiest example I can say to express this is that if every client of a bank goes to their bank branches in the same day and they all ask to withdrawal their money, the bank simply won't have enough bills and coins to hand over to all their clients, because there is actually way more digital/fake money circulating than the one that physically exists (printed). And I think this is impossible with Bitcoin! I know there are also services creating virtual Bitcoin the same way banks do, but I'm not sure if the same situation could happen if we tried the same with Bitcoin!

while the us money supply increased at record levels during 2021 until today,
bitcoin had even more supply increase than the dollar.

How is that possible in a fixed supply rapidly growing economic network?
 Its not.

therefore the math is clear.
the numbers do not lie.

there is more than 1 ledger at play. e

njoy

bitcoin is worth a fuckton less than 12 months ago. Its purchasing power is even more horrid over the last 12 months.

bitcoin doesnt exist only unspent tx outputs. in fact there is no such thing as A bitcoin, there is only the bitcoin ledger and utxos

for now we have not dared to state that bitcoin is more real than money in a bank because there are several factors that influence this, one of which is the bitcoin procurement process that has not been carried out thoroughly in various countries.but in terms of storage we should admit that bitcoin also has a high level of its own security that is almost like saving money in a bank, but if the adoption process has been widely defined by various groups then it is not impossible that bitcoin is better than money in the bank

I think Bitcoin or the general cryptocurrency is at the final stage of money. Money had revolved from different phases for the convinient transaction of goods and services. Money had moved from the normal trade by barter to metals like gold, silver etc. It get to paper money and now it is in another wonderful phase known as the digital money, cryptocurrency. Many persons may be castigating it just like the way precious metals form of money was first castigated. Bitcoin is here to stay.

Let me give you the historical background of Nigeria natural resources that has a link (the same history) with your story. When the Portuguese came to Nigeria in the year 1384, they stayed briefly and left later British rediscovered Nigeria in 1438 or there about  and they had treaties with the local chiefs. And other world powers discovered the natural resources in the country, they were about to fight with British businessmen in the region, so Bismarck called for a conference in 1884 to 1885 to scramble ( partition) Africa to the world powers. And they did it. And British government took only 4 Countries plus Nigeria. In 1900, British government came to Nigeria to rule them fully and extract the natural resources to feed their (British) industries which they succeeded. In 1960, when British government was leaving the mantle of leadership to local people, they planted a seed that everything that Nigeria has is own by the government. Such as:
1. Land
2. Air
3. Rivers
4. Seas

So when Crude oil was discovered in the Niger Delta Nigerian Government claim it and take over it from the indigenes. But when Gold was found at the northern part of the country, the federal government did not go and claim it. These are physical resources that government can manipulate to favour themselves. And I believe almost all governments have this kind of mindset to oppress a set of people in their countries. But when it comes to Bitcoin the governments can't control it because it is a decentralized system that own by everyone and no one. Most Countries were trying to control it to favour themselves but no way so it let to ban and others.

Therefore, president, Nixon in 1971 was trying to stopped the people from exchanging their GOLD to the Fiat currency was a personal interest. They can't try that with Bitcoin.

We voted for that government we are talking about, it's only sad if they are corrupt but if they are doing their job for the interest of the majority, then there's nothing to complain about. Crypto on the other hand is not perfect also, we want decentralization and anonymity? yes, we can have it but does it guarantee that it will be safe for everyone? of course not.

Sad truth, the government just want everything under their control, such a set of greedy people always in search of power, this is pure stealing trying to take charge of people's property because they got the power to get things done even tho it's wrong, this more reason most government kicks against bitcoin, because it gives users full ownership and control of their asset. Bitcoin is more better than fiat because your bitcoin works for you while you work for fiat, I just hope u understand that.

Bitcoin will always be more valuable than Fiat, simply because of the way it was designed. It's a deflationary cryptocurrency whose reward will diminish over time. Not like Fiat where banks continuously print money to manipulate the economy to their own will. This creates inflation, effectively reducing people's purchasing power as a whole.

Considering that no one can change or manipulate Bitcoin's supply, we can say that Bitcoin is more real than money in the bank. But it needs time to mature, as the world is not ready yet for a cashless society. We're still in the early days of crypto/Blockchain tech adoption, as many things are yet to be discovered and improved. Banks won't be going anywhere, so it's likely that crypto will live alongside the existing banking system for generations. As long as decentralization prevails, nothing else matters. Just my opinion

bitcoin is more real than banks, I dare not say bitcoin is more real than banks, because I still live in a country that still enforces a strict ban on bitcoin, indeed the government in my country does not prohibit its citizens from adopting bitcoin, and conducting bitcoin transactions, but the government in my country strictly forbids bitcoin as a currency, and is used as a medium of exchange,, in contrast to those of you who live in countries that have legalized bitcoin and have accepted bitcoin as a legal tender, so you can say bitcoin is more real than banks, because You can make transactions yourself without any intermediary parties.

It is true that Bitcoin gives us freedom in the monetary system. Neither the government nor the state can interfere in it. We alone will determine what, who, why and how Bitcoin will be managed. Truly a pleasant experience in the financial system. Bitcoin is very suitable to be used as an investment now and in the future. It seems that Bitcoin can last as long as it is now since a few years ago Bitcoin still survives and has a better performance.

banks have applied sanctions on me, because I swapped 15k eur to crypto for a mate. I had no documents for that money so they decided to cap my monthly gross transfers to 4k eur. I cannot transfer more than 4k eur a month now. Bitcoin does not do that.

Yes, what you say is true, we have full rights to the Bitcoins that we own and there is no interference from others. The government is trying to prevent people from owning bitcoin so that people use fiat money that they can control. But on the downside there is also that the government cannot control Bitcoin so criminals are difficult to track if they make transactions using Bitcoin. This also makes me dizzy because there is a good side and there is also a bad side, the government should only be able to monitor criminal acts that occur in every transaction but the government can't control Bitcoin, can this happen in the future?
but I hope that's what will happen in the future

indeed this comparison is not a suitable answer to give a statement that bitcoin is more real, because this is only crypto but in terms of security it is very appropriate to admit that crypto has a very relatively high level of security compared to bank storage, because of this more stringent in terms of security, if the bank is very easy to break by evil people who intend to harm the user

Because day by day bitcoin value growing very fast and we all know bitcoin is a worldwide coin so bitcoin is more real than money in the bank.

But how long will it take to make it happen, whereas now many countries have doubts and even reject bitcoin. It is true, it is not impossible for bitcoin to become a new currency in the future. What is bitcoin trying to do?

I think the DOG$ token will give a minimum of x10, that's the minimum. So my opinion is to buy DOG$ tokens from IEO if possible, we'll fly to the moon.

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I watched the presentation of the DOG$ project. I can say that it is of very high quality, I am personally interested. I am waiting for the second phase of IEO and of course, I will buy tokens.

Whenever bitcoin starts showing some upward movement, people start believing that it will replace fiat currency and even that it is a better option for all. I mean how someone can even think of that when not even half of the world’s population knows about bitcoin. Be it lack of technology or lack of money, bitcoin can never replace fiat currency.

Additionally, no government would like to lose control of the financial system of its country and so, fiat currency will always be there. What can be even worse is central governments taking control of crypto transactions.

You are right, which suggests that for me BTC or crypto has much more value than FIAT money, at least the local FIAT money in my country is a free fall, so much so that I could not calculate how much it goes down each day. Due to this, BTC will always be a good option to have it lower in price because when compared with the local currency it is still very high, but when compared to a strong currency, such as USD or Eur, the whole concept changes, although for The global economic bubble has not burst due to the Covid-19 problem, which has caused financial markets to decline in terms of their potential for development or crash.

Being optimistic isnt bad but you should really consider out on how fiat do serve its purpose when it comes to those typical transactions we do have.Yes, crypto is gaining some momentum now
but wont really be enough on taking up fiat into its position.We do still need this one and majority of people would still trust up fiat no matter what.
Bitcoin is a good option and lets not really think that it could easily replaced nor make fiat would be erased into existence.