Bitcoin is more real than money in the Bank - page 3.

MaxHeat

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Quote from: Pokapoka124 on July 21, 2021, 04:55:44 AM

https://i.ibb.co/3sk48Kr/1b4dd636c69a483c885fa6589ac3757d-1626744359919.jpg

Few years after forcing everyone to take their gold to the bank, the US president, Nixon in 1971 stopped everyone from having the right to convert their gold to fiat. Isn't that stealing? Government resent bitcoin because they can't control it like they did in 1971. Very soon, it will be illegal to own bitcoin in some countries, not because bitcoin is bad, but because bitcoin gives you the power to own your money. Bitcoin is more real than your money in the bank. Be your own bank by investing and learning about bitcoin.

https://www.federalreservehistory.org/essays/gold-convertibility-ends

The bank system in general has almost always been crooked in some way or form and not only in the united states but worldwide. Through history there has been so many examples.

So i actually agree with your headline because most banks dont have any real money - they have "I owe you notes"and deals based on "trust" Wink

dzonikg28

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Quote from: im posible on December 02, 2021, 04:46:36 AM

Quote from: Pokapoka124 on July 21, 2021, 04:55:44 AM

Government resent bitcoin because they can't control it like they did in 1971. Very soon, it will be illegal to own bitcoin in some countries, not because bitcoin is bad, but because bitcoin gives you the power to own your money.

So far, I think many countries have not legalized and even banned bitcoin because bitcoin does not yet have the capacity and quality needed to be recognized as a currency. But after reading this I started to realize, bitcoin is able to create economic independence for individuals/societies which bureaucratic makers are so afraid of that's why many ways are used to stem the popularity of bitcoin and other cryptocurrencies.
At the same time, it makes me regret why I didn't really learn and understand bitcoin long ago.

Still this is a very complex game theory problem even for governments. One government banning Bitcoin might create unprecedented opportunities for other countries. China banning Bitcoin makes sense if you consider their way of governing the people and their whole economic and social system. But will Bitcoin ever be banned by the majority of countries all around the globe? And even if that was the case, cryptocurrency related businesses (mining operations, exchanges etc) will find their place elsewhere. I don't see any chance for cryptocurrencies being banned all around the world. Even think about the administrative effort it would cost a government to really shut down all economic activity involving cryptocurrencies. Besides that, I think we can be pretty certain that there is a good number of countries already that signaled quite obvious there won't be a ban on cryptocurrencies. They might come up with new regulations, but an outright ban can also be very risky in the long run.

Mauser

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I don't know if bitcoins will really be more real than fiat money in the near future. Bitcoins are definitely getting more attention and can be used in my stores to buy things. But having a wallet with physical fiat money is still king in my country. The small bakery near my home where I buy all my bread only accepts cash. The same goes for one of my favourite bars, they are very old school and only take credit cards for large bills. So if I had no cash anymore and only bitcoins it would be very hard to get buy. At the moment having both is still the best solution.

im posible

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Quote from: Pokapoka124 on July 21, 2021, 04:55:44 AM

Government resent bitcoin because they can't control it like they did in 1971. Very soon, it will be illegal to own bitcoin in some countries, not because bitcoin is bad, but because bitcoin gives you the power to own your money.

So far, I think many countries have not legalized and even banned bitcoin because bitcoin does not yet have the capacity and quality needed to be recognized as a currency. But after reading this I started to realize, bitcoin is able to create economic independence for individuals/societies which bureaucratic makers are so afraid of that's why many ways are used to stem the popularity of bitcoin and other cryptocurrencies.
At the same time, it makes me regret why I didn't really learn and understand bitcoin long ago.

tiCeR

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Quote from: Rufsilf on November 23, 2021, 11:33:35 AM

Quote from: Vaskiy on November 16, 2021, 11:32:30 AM

Quote from: Reatim on November 16, 2021, 01:54:27 AM

Quote from: rizqoAD on November 15, 2021, 11:22:40 PM

Of course Bitcoin is more real than your money in the bank, fiat money stored in the bank does not provide any profit to the owner because the money actually belongs to the bank and is controlled by the bank, if we want to withdraw all our money then the bank will make it difficult for you not to withdraw. Basically the bank has no paper money and little gold reserves there are only controlled digital numbers. Unlike Bitcoin which has a blockchain that cannot be created or forged, it is limited in number and its value continues to increase every year.

that is the reason why we are in this world now because we are one of those who did not cater Baking style.

Using our Money for them to gain more and more while we are given a peanut interest per Annum .

Stop using banks for our investments , just keep safe some amount if you are not 100% certain in crypto but make sure to put more in here than in banks..

Banks play a major role in a country's infrastructure development. Banks always make money out of people's money. Using banks for investment is not much preferred. These days people are much into cryptocurrency investment looking upon the profit it provides compared to the investment on banks. Till date it is quite evident to see a big list of failed banks. With cryptocurrency the lack of understanding about the market have caused people to loss.

Infrastracture development but to their own profits and needs, but when exactly does banks does what peoples needs out of profits?
As we can see, banks nowadays are trying hard to gain the people's trust due to bitcoins popularity. Banks aren't so important anymore to other people especially to the one's who prefer bitcoin more. That's why they are always extending their hands for more services and options about crypto matter.

exactly, we used to always have to put our trust in the institution of the bank and its kit workers. Today, we trust technology, and with blockchain we have the layer of trust. That's exactly what makes it so. Basically, it is also the acceptance of the users that ultimately makes up the value. Central banks always say that the value is secured with gold, but nobody sees this gold.

muratsink

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for now we do not dare to say that bitcoin is better than money in the bank, considering that there are still many obstacles experienced by bitcoin, especially with the adaptation process that has not been carried out by several countries so that it is also influenced by not getting public trust in the crypto world, if it is true that bitcoin later adopted and created several bitcoin ATMs then we can say that it is true that bitcoin is better than money in the bank

finaleshot2016

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One of the benefits of having a bitcoin in your wallet is that you can feel like it's your own money because you can do whatever you want with it at any time. While you have fiat, you do not truly own it, and keeping too much in the bank does not make it safe. Well, there are also disadvantages in crypto but one thing is really sure about it, as long as you hold the keys, no one can open your wallet.

dimox

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gold is good money in that era. in history i know, they use gold and silver to trade a thing, make coin from those two thing, and that coin is real from gold and silver. the sad part is when people steal this method and replaced by paper.
bank, promised you good salary if store some fund on them. but, bitcoin give you multiple big profit than you store in bank. and yeah, thry just afraid if people getting rich. cant control this thing make them be more scared.

KennyR

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Bitcoin is more real than money in the bank. Just think of a bank issuing fiat online, just a number is transferred whereas the fiat is located in one among the university. If bitcoin is spend, then the equivalent value is transacted. Increased adoption doesn't make cryptocurrency to be more popular. It is all about the service that gives ease of access and nothing specific on it.

muratsink

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we don't dare to say that because bitcoin still hasn't received adoption from several countries so the adoption process is still confusing.so it still raises doubts among the public where we don't dare to say that digital currency is better than money in banks, let alone Currently, bitcoin ATMs have not been created by many countries that have adopted bitcoin long ago

KaliLinux

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Quote from: worldofcoins on November 23, 2021, 11:39:52 AM

Bitcoin is getting more and more popular day by day and just because of its wide acceptability it got more importance than fiat currency. The market trend is also in the favor of bitcoin. People are more interested to invest in bitcoin rather than fiat currency. I guess in the future it may get a status in local banks as well. Which may lead it to become more popular as compared to the current ERA.

I don't think that Bitcoin is more important than fiat money just because it is been accepted by a number of people. Do you think if there were to be a real analysis of the percentage of the world population that are into cryptocurrency and the ones that are not, Crypto adopters will be more? of cause not but we do understand that Bitcoin adoption is growing into the global population and until commodities are been valued in BTC BTC instead of $ Fiat, which Bitcoin is still valued by, it cannot be concluded that it is more real than money in the Bank.
However, I do understand why this assumption is considerable.

uneng

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Many people have a hard time realizing the money they hold at banks isn't safe at all. Here in our country a similar situation to the one related by OP has already happened. During the 90's decade everyone had their saving accounts confiscated by the government in a desperate attempt to control inflation that was around 84% yearly.
That measure by the government had a very negative impact over the population and even lead some people to commit suicide, because everything they had was invested on this application category, so naturally they went depressed and delusional. We really can't trust governments, because they will do anything they have to do to keep the economy working somehow, even though they have to sacrifice the citizens on their individuality.

gabbie2010

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Personally I am more satisfied with hodling and saving my bitcoin in my wallet even when I have the ability to exchange it to fiat and save it in a bank, which I believe is absolutely unnecessary, Since I got the knowledge and involve in cryptocurrencies all my transactions are anonymously done without any third party involvement, infact I only have small amount of fiat in my bank account which is meant for petty purchases and bill payment. Bitcoin has come to stay, there is nothing any government can do to it, even with it banning in some some countries there will always an alternative ways of using it.

Imran232

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Its an usual news. Like every country who aren't approved the bitcoin legal yet. Thats the reason they they want to give you the full power and control on your money. government want the power of your mmoney so that they can track your activity and take the money as a tax what government say they deserve. But when you hold gold the gets tax bwcause you bought from somewhere but if you hold for long term you havent done any transaction so government wont get any tax. Thats why government wants you to use your money in a sector where they can track you and your money. So that they ca take the exact tax. But in bitcoin they get nothing. Well its a rules that you are the own controller and government can't be your money tracker. Thats why govenment are always a oposite site of bitcoin. But we want freedom thats why we are here. Like you are.

Koro-Sensei

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The gold standard of currencies aren't a thing anymore. Lots of country print and print money without backing it up and that's where BTC fill the gap. Btc in the other hand, has advantage over this current situation of monetary printing system. BTC has a total supply whereas most currencies dont. It is secured by blockchain and no entity holds any right over your coins. So in short, BTC is supreme over any money. The confidence that is given by the people towards it could surpass what other famous currency has.

goldkingcoiner

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Bitcoin is definitely the real money. Because it's real anonymity and real freedom! Banks will be a thing of the past. Now with the newest taproot update, if Bitcoin can go fully Decentralised Finance then that would be so amazing. Because that would mean that the governments lose all the control over trading and fund supervision that they currently have (over centralized exchanges, which all demand KYC). The Banks and all the governments are losing control and all the regulations they have put into place are starting to crumble. Money will finally be by the people and for the people. No more middlemen, no more corrupt regulation.

Luzin

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Quote from: worldofcoins on November 23, 2021, 11:39:52 AM

Bitcoin is getting more and more popular day by day and just because of its wide acceptability it got more importance than fiat currency. The market trend is also in the favor of bitcoin. People are more interested to invest in bitcoin rather than fiat currency. I guess in the future it may get a status in local banks as well. Which may lead it to become more popular as compared to the current ERA.

Bitcoin is popular because of its increasingly expensive value. In addition, straying fiat money in the bank will be charged. If storing BTC may not cost only a volatile value and the still limited legalization of assets makes BTC have more limited wiggle room. I believe that BTC will probably be the means of payment of the future even if it is when. But today many countries are afraid because they cannot control Bitcoin. This led some countries such as China to ban all crypto-related activities. But from some of the media I see they inspired Blockchain technology by creating their own digital currency. I currently admit maybe Fiat is a legitimate medium of exchange so Fiat is the favorite whereas Bitcoin as an alternative to grounding Fiat.

Alen098

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I think both are real and people are likely to invest their money to bitcoin these days bcz are getting more greedy...

Nutrient

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Bitcoin has already been declared illegal in some countries. The govt, of course don’t feel great with the fact that citizens own so much power with decentralized finance.

syedakhlaque

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The convertibility of money in Gold is going to be the story of the past. Bitcoin has its own credibility and value. It is not attached with Gold or silver. So it is a stable one that has the quality to benefit much to its stalker than other traditional currencies. It is safer than the money in the bank. So the number of cryptocurrency users & businessmen continuously increasing.

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