Topic: Bitcoin Solves This - Money and Banking - page 3. (Read 596 times)

Nothing can be completely perfect, but one thing can be better than the other or offer things that the other doesn't even if it comes with its flaws. The same goes for Bitcoin and traditional financial systems. The percentage of people who have trust in banks and traditional financial institutions might be greater but the number of believers in Bitcoin is increasing over time, and I'm pretty sure that the people who hold their wealth in Bitcoin are way more satisfied than they could ever be with a bank.

The volatility of Bitcoin surely has its positives and negatives. On one side, it might become the reason for someone to lose value for their money if the price goes down, but on the other hand, they might see their money gaining value and possibly getting doubled or even tripled over a certain period of time.

Yea, the moment when you start to understand things like "Fractional reserve banking" and how Inflation are calculated and also manipulated and how much control governments have over the supply of fiat currencies, then the light goes on ...when you see how different this is with Bitcoin.

We live in a world where too many people live like sheep..... they do not question anything and they just accept the norm. This continue until something goes wrong... or until they see how it is supposed to be. 

Banks and fiat currencies are so much a part of our world and our lives, we wouldn't be able to survive without them. But thanks to bitcoin, we know the disadvantages of banks and fiat, and can limit them to avoid unnecessary losses such as loss of value or loss of privacy...we need to combine both bitcoin and banking to have a perfect life. We won't be able to completely eliminate banking from our lives even if it gets worse but we will reduce our dependence on it through bitcoin. Even if we don't invest in bitcoin, we should learn about currency, finance, economics...all of those things will be very useful for us.

Well, both me, you, and other people who have invested now or in the future, will also understand, be amazed why BTC is so popular and crazy about it.


I think this last point is very good because the main thing we need to understand is how we control our own money well. This is in line with the founder's wishes, who want the Bitcoin payment system to last a long time. Bitcoin is a payment system, plain and simple.

Yes. OP, There is always time and never too late to invest in Bitcoin and discover its potential.

Frankly speaking, you can't expect everybody to be aware let alone understand the intricacies of money. The great majority don't care about it for as long as what they consider money can buy them what they need. For me, that's completely understandable.

However, at the very least, money should function in favor of everybody. At some point, when money loses so much of its value, people will begin to wonder what happened. While they balance it with working harder, getting additional jobs, tightening the belt, and so on, that's completely unfair.

Worse, this isn't because money is naturally like that. This is simply because the ones who control it are abusive and greedy and insensitive and dumb. Indeed, Bitcoin solves this.

It was mostly because Bitcoin was a new idea, something that not much is known to your average joe. Banks were seen as the staple, something normal and something you'd inevitably experience and be a part of when you grow up, so the concepts and ideas were simplified to only things you'd ever really need, and as for the rest, you'd only ever need them until you actually need them. Not to mention a lot of businesses and partnerships are built on top of the idea that banks exist and can help with, for example, payroll for companies.

Even after I've read some stuff about financing, I still don't really understand a large majority of it, I doubt I ever will really. It did help me realize early on about the importance of understanding money though.

This could only mean one thing. No matter how we hate the traditional banking system, it will never going to be eradicated, it will continue to exist for a long time maybe forever. While these 3rd party money processing companies such as those mentioned above will also continue to co-exist due to the high demand of banking transactions in a daily basis.
Not everyone will engage in crypto or bitcoin though. We may be biased here, but the number of people who prefer to not use bitcoin will always way higher than who uses and adopt to it. Therefore, banks, 3rd party money processing apps, cryptocurrency, digital currencies, online banking system and everything along these line will continue to co-exist.

When I came across Bitcoin for the first time, and got hands on a few, I used it on gambling site called directbet. I loved how easy it was to bet with BTC there, you send the BTC, bet registered and you automatically receive your BTC (if you win).

I probably drifted there between gambling and btc here but this was my first experience using it and I loved how simple it was.

The main thing Bitcoin taught me was not to leave my money in the bank. The bank uses our money to make even more money and gives us a tiny percentage of it as interest. The percentage they give back in a year is worth nothing compared to what one could make by just hoarding Bitcoin. Not to mention how you can send money to anyone across the globe without the stress of filling out forms and signing numerous documents. Along with you being the only owner and access to your account. Yet there's even a lot other importance than you listed. Bitcoin rules!

I'm sure most of us have gone through this and these learning and observations can be considered common to everyone, OP your topic idea is decent and your topic is not prising anyone and providing a full-length topic discussing the pros & cons of the systems, etc.

your approach is more natural towards the newbies & OG's personally a big thanks to the forum, members, and Bitcoin as well because I knew nothing about Finance and planning was on that time like day-dreaming. The maturity level was also too near, to Bitcoin, and by discussing it here over and over with different perspectives and practicing it, I've almost got the maximum of the things about financial planning, Investment approaches, etc.

I always see that financial problems are what make people read about the economy and think about solutions. Inflation has made thousands think about investing and Bitcoin, and thus it has succeeded that Bitcoin and cryptocurrencies are thriving in Africa and some countries based on that.
It is true that Bitcoin will not solve all your economic problems, but it is the beginning of solving these problems, and diversifying your investments will enhance the possibility of doubling your profits.

BTC opened new gateways for every digital business. It is not only beneficial for organisations but for individuals too. A merchant or vendor can easily set up a BTC payment system for his shop without providing any documents like we have to provide to banks to increase the daily or monthly limits. There are no transaction limits, and the benefits of BTC exceed those of the fiat system..

I agree with you. While using banks, we don't give a second thought to how they work or how the financial system works, but when we get into BTC, we start to think about whether it is trustworthy or not. How can we protect ourselves from spam and scams? Questions like these are not aroused when we are dealing with banks because banks have companies all over the world that have built a huge level of trust among many people.

A new person will definitely choose banks over BTC because his elders were in banks and they made huge profits from banks too, so why would they risk their assets by converting them to BTC, where the risk of volatility is always there and the possibility of making a loss is always there? While they can make fixed profits if they go to banks, This explains the nature of why people adopt banks over BTC, but many adopt BTC over banks due to the knowledge they get from the questions in their minds. They get to know more about BTC and the financial world and how they manage money to make more profit and take risks with their money.

Your points are so valid, I also was not aware of the world's financial status (country by country) I did not know how banks work, how they manipulate money, and how they misuse their power (which is of having a big amount of money). Overall, I was not even a customer of the banking system but when I stepped into cryptocurrencies I had to use banks to withdraw tokens to my local currency. But the plus point here is, I got to know about blockchain, centralization, and decentralization-like topics before I got into banking. So when I started to use banks I found out the differences and the pros of using BTC and cons of using Banks.

But despite all the differences of pros and cons we still need banks and we cannot live independently of them. We might use some other local-level financing apps, like PayPal, Payoneer, (which are worldwide used) Easypaisa, and Jazzcash (which are locally used here in my country).

These apps can eliminate the need to use banks but at some point in your life, you have to use banks and cannot live without them. Well, besides all that, I also made a topic that is basically saying the same thing that your topic said

• To Understand the Potential of BTC, What we Must Know?

This is the purpose for which bitcoin was created, anyone who invests in bitcoin will have to learn these things and they decide to choose bitcoin.

Essentially, bitcoin is both a currency and an investment, and when entering the financial markets, you need to learn and understand all of this. Even if you participate in the stock market or foreign exchange, you still need to know the basics of transactions, currency, finance, not just bitcoin investing.



Bitcoin was born after the 2008 economic crisis, the monetary and banking system became too weak, and bitcoin was born to overcome those things.

Its incredibly strange that most people dont know much about the past and essence of money in a time when financial stability and goals are important. Its unbelievable and frankly wrong. As you correctly pointed out, Bitcoin has opened many people's eyes to the truth about how bad our money systems are.

Blockchain and decentralisation arent just trendy words; they're a big change in how we think about deals and value. Its time for people to stop living in the dark and start learning. Bitcoin isnt just a trend; it shows how bad our old banking systems are at what they do. We'll be better prepared for the future if we understand its importance and what it tells us about current processes as soon as possible.

For the majority of us, yes, bitcoin really taught us a lot. For me, it's more on the saving portion or the accumulation phase. Yeah, I could have invested on stocks and others, but bitcoin is very different, you learn more of the concept of money and fiat system and how it became a failure for some at certain point. And we learn as well why the rich become richer and how like the majority of us here, average joe player in the market, can really be rich and take advantage of bitcoin's lifecycle (bull and bear run), and take advantage of it.

I'm not into the blockchain technology though, I mean of course it's good to learn how and what it is, but individually, it doesn't matter though. What matters is how we should protect our assets, our wallets so that we won't get hack, and BYOB (Be Own Your Bank).

So now we are looking forward again to another bull run and hopefully everyone is already ready with their accumulation.

We must not forget that Bitcoin came into existence at the time when USA experienced one of its sharpest economic malady in 2008 which led to the collapse of many big and established financial institutions and the subsequent rescue by the government by printing more money for the said purpose. Bitcoin is supposed to be the opposite of what traditional finance can offer...empowering people along the way as powerful intermediaries are eliminated in the picture and not even the government can even censor it. Money and banking, we must always remember, formed a very pivotal bedrock in the society and without it I don't think developments can come in and be experienced by the people. With Bitcoin, we are provided more decision making prowess than before and we are not anymore at the mercy of different business interest.

Holding Bitcoin gives someone an advantage in the future, especially if they have known and held Bitcoin from the start. People out there who also hold Bitcoin won't explore Bitcoin further because they might think it's too complicated.

Most people still use the methods they have used before and have not considered using Bitcoin. Only people who are willing to open themselves up to new things can accept the presence of Bitcoin and start learning about it. But perhaps only a few people are willing to take the time to learn much about Bitcoin because for ordinary people, they only know enough about how to use Bitcoin properly.

But it is true that by using Bitcoin, we learn to control and manage our money. We are the bank and protect the assets and must know how to use them. But for ordinary people, this seems confusing because they do not search for education about this unless they look for it themselves.

Bitcoin is another choice for us, another option for us and that's it. It's just another choice and option that if we accept and use it properly, we can have more convenience and comfort for our life.

Having bitcoin, using non custodial wallet, owning our private key, we will have our own bank and no longer depends on central banks for money transfer.

I disagree. Bitcoin does not solve all problems from governments and central banks. It can make some effects but can not be big enough to change the society and financial problems. Even governments and central banks with a lot of power they have, to regulate society, finance, economy, can not make everything they want. Because the society has many components and only one or two changes can not fix everything and all problems.

The reason why Bitcoin was created was due to all the mess that the governments and fed caused during the global financial crisis, hence it was the headline in the genesis block.

We need a currency that is fixed and not inflationary, if cash was fixed then we wouldn’t deal with all this inflation every few decades. Currencies going into hyperinflation and a nation failing. Happens all the time even when large countries.

Bitcoin solves all those problems.