Topic: Bitcoin Solves This - Money and Banking - page 2. (Read 493 times)

Hodling doesn’t just starts like that, it takes a good research to get a better understanding to able to hodl bitcoin. That is why it is very difficult for some to make attempts to hodl because they do not have understanding how this thing is done. When their is no understanding it very hard to believe in hodling that it can yield more profit. People who hodl already have build up their mindset and they understand what it will profit them in the future.  Their is good benefit in making research it makes hodling easy for investors to exercise patience till good profits is achieved.

To be honest, at this time I only see Bitcoin as a good investment rather than as a currency because its value changes too quickly, which is enough to make its owners feel at a loss to use it as a financial transaction tool, so in the end conventional banking is still the first choice for anyone who wants to make transactions, and the limited use of Bitcoin as a payment option in offline and online stores means that in the end the use of Bitcoin does not completely use Bitcoin but must first exchange it for fiat and then transact so that conventional banks are used again, so I don't see Bitcoin as a solution for the current banking system for now.

No, we don't have to combine BTC with banks, and both parties won't agree on it. Because both are opposite to each other (not like positive or negative charges because they attract), instead they will repel each other because banks are centralized and BTC is decentralized. So we don't have to combine both BTC and banks, but yeah, we can use them separately.

I really like your last line. that we should learn about BTC, whether we invest in it or not. I would suggest it to anyone, but when most people get to know about BTC, they become greedy because they have seen the potential it has and want to make some money too by holding or trading, but they should first become avid about that and have to read and learn the basics of crypto.

Because the BTC and crypto industries have taught me the basics of finance, how banks work, and how both are so different from each other. Overall, in reality, both banks and BTC cannot be brought together on a single platform, if they are tried to be brought together, then one cannot use the full features of Bitcoin. Like anonymity, security, and decentralization.

if you are already here in this market. you are always free to explore your other options with other alts. even if others are saying btc is the only viable option, you can always study and do your homework on how to take advantage of this market.
there's no one dictating you to just check btc. you have your free will to do what's best for your funds.

Honestly speaking, while I see the beauty of Bitcoin over time, I also see that there is also a good opportunity besides Bitcoin, and I also see this in other cryptocurrencies, to be honest. I often read here that it is always said that it is better to invest in Bitcoin than other cryptocurrencies or altcoins. This thing is not really wrong.

There must be something missing in what others are saying, because there must be other altcoins that can help us, like Bitcoin can do for us in terms of financial problems. Sometimes it seems that it is wrong to always mention that only Bitcoin is the only solution for us to earn a lot or to get rich in this industry. At this point, I no longer agree based on my assessment.

Yes, you are right, because those traditional banking systems came into being thousands of years ago, and till now, many improvements and linkages between worldwide banks have been made. Many policies are there, so in short, the overall world is so dependent on money, without money, we can't do anything, and money requires banks, so banks cannot be eradicated, but BTC's presence is the first step to eradicating them. Well, its presence did decrease the volume of money in banks. That's why local currencies might lose value due to less demand.

These third-party finance apps are a big help, but those that are at the local level, as I mentioned above, have no official office in our country. If we lose funds, we can't go there, we just have to deal on the phone (well, this happens in rare cases, but most of the time stuck money can be withdrawn).

And BTC cannot be accepted fully because the BTC blockchain may not be able to process all the TXs made if it gets accepted at the global level.

This does not applies to your country alone, it's what is common with the use of the banks, they tend to steal from your savings for maintenance without your consent and yet loose the value of your money with time, they engage your personal money for their own usual businesses and yet returned nothing for you into your account as interest, they have control over our bank account.


Bitcoin is causing this to begin to happen because you don't need a maintenance fee to hold your money on the blockchain using any wallet, your money can be profitable in the same way, no transaction charges you will not be aware of and you have the total control of your account with bitcoin.

When people put their money in standard banks, the value of their assets will eventually go down. Even though banks usually have strong security, it's important not to forget that there are other types of risks besides hackers. Loan risk, cash flow risk, and market risk are some of the risks that banks face.

You made a good distinction between banks as places to save money and Bitcoin as a way to trade. Still, there is a point where their usefulness as stores of value overlaps. Banks offer safety, but Bitcoin has the ability to grow. This dichotomy needs to be negotiated. Could one possibly think about combining the two, which would increase safety and possible returns?

I agree with you that bank interest rates have not increased for many years while inflation continues to increase, causing the value of our assets to gradually lose over time if we deposit money in banks. But it is not true that banks are less secure, people who deposit money in banks will face the risk of devaluation due to inflation and will not have full control over their money. I have never heard of a case where a person depositing money in a bank was attacked by hackers and lost their money. Banks are a place to save money and bitcoin is an investment, so comparing them is not entirely accurate.

I don't think you really need to hold Bitcoin first before you can start learning about technology related to Bitcoin like the blockchain. With basic understanding and will to learn is already enough.
Because it's a must for me before you buy any amount of Bitcoin.
You have a point here about learning these such things but be careful of holding without basic understand because you could lose money.

I don't think most people go through life believing they have sufficient understanding of money. Indeed, they're just putting faith in the system because it is something guaranteed by the laws and the government. Again, nothing wrong about it if only the laws and the government are genuinely working for the welfare of the people.

But, yeah, they're not. I agree that devaluation of money is tantamount to theft. It is a desecration of people's hard work and labor. But I don't think this tragedy has nothing to do with money. It has become like this because the fiat system is prone and accommodating to such tendency. Fiat money, in the first place, is soft money. Anybody who is in power can abuse the system. It is a weak monetary system that is susceptible to the very nature of men.

In my country, even if you keep money in the bank for years, there is no increase in interest, instead, due to the low security of the bank, various customers are losing their savings. So the importance of keeping money in the bank is decreasing day by day in our country. In this situation the only solution cannot be anything other than Bitcoin. So while Bitcoin can be claimed as one's own wealth, putting money in a bank cannot claim that money as one's own.

This is because most people are not really curious about the world, so as long as something works they do not care how this comes to happen, an obvious example of this are cars, despite being so widespread and a common sight, at most people will know how to put gas in their car and that is it, they have no interest at all to know how it works, and the same is true about the monetary system, so as long as they get paid and they can buy what they want they care nothing about anything else.

Bitcoin has helped me to know how to invest and nurse my investment, and also to keep on increasing it. I have never had a good time to save money for a very long time because I see it as keeping money when there are important things to use the money for, but bitcoin made me to know how to manage my resources and cut down my expenses.

I have being holding and accumulating bitcoin now for more than a year, which I didn't touch any of it because I have plans to sell in the next bull run. I must say that bitcoin gave me the opportunity to have an investment and also learn how to be patient with your money that you have used to invest. I have learnt a lot from bitcoin, but the investment aspect is what I am more happy about, because it gives me hope for a better future.

I agree with you that if we save money in the bank we don't get much profit, but they can use our money for their needs and they take advantage of the money we save.

If we already have confidence in investing in Bitcoin, of course we will be able to hold it for a long period of time because we are aware that we can benefit from the investment we make. with inflation occurring in various places, it will certainly reduce the value of fiat currency, so it is better if we use the savings we have to invest in Bitcoin.

Bitcoin has been created to solve all the problem that Bank has been lack of, while every Bitcoin users are simply means a staff workers to execute transaction at any given time including weekend as the case been applied.

Only Bitcoin has these advantages, and I'm sure there are more, because the banking system can never teach you anything economic; they only encourage you to keep believing them and giving them your money for their own personal business, which includes bitcoin and cryptocurrency investments that will yield huge profits.

Holding bitcoin gives me more confidence in my financial life because I am disciplined to hold it because I know it has enormous potential in the future because people are adopting it globally, and it is decentralized and a store of value, unlike fiat currency in my country's currency, which is constantly losing value due to inflation.

  Bitcoin brings an end to that centralized system where governments keep control of everything and even tell what your worth. A lot of people find bitcoin as a freedom from the government couple with its high market value it’s brings to the table. I have always seen saving money in bank as a loss cause at the end of the day after the bank as deducted the usual tax you won’t get the same amount you kept from the bank. The introduction of the blockchain technology and crypto market has caused a major setback in the financial sector people no longer need banks to keep their money, personally I love to save my money in foreign currency and thank God for  credible exchangers like Binance, trust wallet and so on I can achieve this.
  It does not only bring freedom but other opportunities, I can choose to invest in other crypto asset gain some more dollars then save again, saving in dollar is one of the smartest move one need to take, for instance imagine you had $100 in your wallet 3month ago which was worth about #766/$1 that is about #76000 let just assume you didn’t touch the money from that time till now your $100 will be worth about #120,000  saving in the bank won’t give you this profit, you can choose to do some other things and still have your $100 intact still. Bitcoin has done more good than the banking sector and will continue to be better. This is why governments are fighting really hard to get rid of it because of their lack of control.  But they can’t cause Bitcoin is not under any body or organization.

Isnt that kind of tragic? Most of them go through life believing they have a sufficient understanding of money. They go about their daily lives, obligingly putting their faith in a system that they dont completely understand. Though its easy to write this off as a case of simple ignorance, it also serves as a sobering critique of the level of financial literacy and awareness in our culture.

The main problem is that money, which ought to be a tool for everyone's empowerment, frequently becomes a tool for the oppression of the masses. Its not just unjust, but an irony when hardworking people are forced to work more and take on more tasks in order to keep up with the depreciating value of their currency. A tragedy that has nothing to do with money itself but the unbridled greed of those who control it. In this situation, Bitcoin steps in by providing an alternative that guarantees power isnt centralised in the hands of a select few.

But in short, bitcoin will never completely replace or disrupt banks because banks are providing us with more services than just deposits and savings.  if you want to borrow money for business, bitcoin cannot help you do that, or insurance, bitcoin cannot provide that either...
When talking about banks, people only think about depositing money and saving, few people think about other services that banks provide to organizations and businesses.  so they claim that bitcoin is superior to banks, but in reality, bitcoin only solves some of the problems that banks and currencies face.  Bitcoin cannot provide all the features and services that banks and traditional currencies provide.