Topic: Did you realize in real life how Bitcoin gave us financial freedom? (Read 527 times)

Yeah, that's why for me bitcoin is the definitive definition of Defi, even before this Defi thingy broke the crypto space this year.

And this has been the case for bitcoin itself, no more middlemen, we have total control of it, and our own bank and we can withdraw anytime we want. And this is why the government is really hell bent on stopping this crypto revolution, but sorry they can't do it. This will continue in the next 50 years or so and will give anyone the financial freedom they want.

That's right, DeFi is providing us with immense capabilities. I actually entered the scene the past February of 2021. The investment opportunities are huge, providing decent APYs, even in lower risk contracts.

I was introduced by a friend of mine, and it was probably the best thing that happened in crypto, the past 2 years. I managed to earn a decent amount of money, in a exceptionally short amount of time. The main drawback though, is their safety, there are a lot security risks and scams going on (or at least used to).

Financial freedom could be identified or classified in two things.

1. Financial convenience just like on what you had mentioned.
2. Financial freedom on the sense that you dont have problems in terms of fiat literally.

Therefore, we know on how beneficial it is if you do know on how to deal with it.

Weirdly enough, even though I am very much in love with crypto for nearly 10 years now, and I do not care about banks at all, hate them (literally hate them), this is the least of my reasons. Banks on my nation close at 17 pm as well, and even though they do, I do not care about that at all, it is not like that is an important part of my life.

We literally can't turn our investments back to fiat during weekends, so if you have a stock you are holding, you can't turn that into dollars during Sundays for example or Saturdays. So, it is really inconvenient to use Banks in that regard and that is not the reason why I turned to crypto. The only reason was that banks decided to rule the world for a while now, been about few decades I suppose, and governments heel at their call, this is the biggest reason for me and crypto is decentralized enough to give me that trust.

I realized it when I opened my Bank App on several occasions and it gave errors "Down for maintenance" and some obscure errors when I urgently want to transfer money. Also in my country Banks close early because they do reconciliation at the end of the day. (So then all Banks are closed when we want to access our accounts)

So it is not just about Financial freedom, but more about financial convenience. You basically are your own Bank and you access your money when you want to ..and not when they are available to do so.  

Bitcoin gave us a future of DeFi. Decentralised Finance is really the key term here. The next step would be to stop using centralised exchanges and find better ways to keep Bitcoin more private, as well as using the newest Taproot update to its full potential to bring Defi to Bitcoin. No more middlemen, no more unwanted regulations or restrictions. Your keys, your coins. Just as the plan has always been.

Limited withdrawal per day. That's when I realized something is not right. First of all, it's your money so why do they need to limit you from getting your own money. I know about the banks investing it but providing their customers with how much they need should still be given especially if they need it badly during emergencies or occasions.
With Bitcoin there is no middleman, no one will stop you or control the numbers that you want in or out. I think that's one of the reason I switched my savings to Bitcoin.

It's like that in my country, almost everything is still on paper, so when I need to finish something I usually need a lot of time to gather all the necessary documents... from one office to another, from one building to another... sometimes it can be really crazy! It's like that when you live in the 19th century, not in 21st!

Well, crypto gives us financial freedom and stability! It's better when you have more sources of income, and it's definitely better when you don't depend on just one thing! Of course, it doesn't fall from the sky... many of us risked a lot to be where we are now!

You have correctly said it all.
The only financial freedom is operating under a government who is oppressive who has banned bitcoin and crypto currency trade's.
Having this has helped the poor tondo transaction with much ease.

True, because in the first place we invest to make profits and not to lose money which is ironic to those who invested and wait for several months to earn and when the market dips this months many of them had sold their assets because they probably thought that bitcoin can't recover which infact bitcoin always does. Folks, commitment and patience isn't an easy to path to take but when the market recovers it promises you competitive returns.
In times of dips, let's just make it an advantage to think that bitcoin is just having a discounts for the people to buy more to make profits when it starts to climb again instead of selling it out.

I guess that you should be consider such question to insult you but you should treat it like their business model. When they are losing one of their customer's business then they will definitely try to make you to continue your deposits then obviously they will ask such questions.

When you are spending your bitcoin for gambling or anything which got less possibilities for good returns and if you have got such questionable people to stop you then you might have save more bitcoins than now. I am just stating this from my experiences as I have spent some some big money on investing into shitcoins and almost lost most of them.

Yes, I just need to keep my wallet secure with all security features activated and thats it. My funds are safe and none knows my transactions. How lovely is it. The data is stolen in banks and can be easily seen by the employees and yes they can even get into my accounts with out my permission. But yes its not here with Bitcoin. And yes when I was seeking for a part time job in 2016 as I needed money, I found this forum and yes till now, the support has been very immense. Hats off to Satoshi or whomsoever found Bitcoin and yes this forum.

Banks are just very annoying, currently in my country banks are now blocking account that have been involved in Cryptocurrency which lot's of people have their money froozen in there bank account currently, you saving money in your bank account currently is not even save anymore, I believe is better for me to hold bitcoin or leave my money in a stable coin and I can make transactions at any moment I like without anybody asking me unnecessary questions.

Having no one to interfere and ask questions about my funds and as the only one who can control it made me realize how Bitcoin saved me to be my own bank.

I just realize it the moment I understand the nature of Bitcoin and how I can take advantage it if I engage myself. Its more on security that my money is safe (by having my own private keys) and there's no minimum amount to maintain even it takes a long period unlike in banks.

This is true on which you would need still to invest if you do like to make some profits which means risk taking thing and not all would really be that comfortable on dealing with crypto investment
because they do know its volatile compared into those typical stock or indices investments which most people been eyeing on.

Its a personal choice because some people could take risk and some would really love to play safe but actually theres no such word "safe" in the world of investment
whether you do invest on typical investments or deal up with crypto investments.

Ours is the worst, me and my wife are afraid of losing our funds everyday since the issues of our bank got out. Unknown and unauthorized withdrawals are widely known recently. We can't close the account since we need it on our small business. The only thing we make sure is we don't left the money there, we only put minimum balance. We have used Bitcoin a long time ago and we haven't encounter problems utilizing it and gives us freedom of our money.
 Another problem is the maximum withdrawals per day, if it exceeds you have to wait until tomorrow unless you  go over the counter and asked too many questions like what you have said.

I realized when I don't need to pay any tax because of Bitcoin because so far, crypto is not in tax in my country.
Additionally, because Bitcoin is not legal as a currency, I still have limitation to use Bitcoin and crypto for payment.
But at least, I really feel about the freedom of financial during this pandemic, where I can still get income from Bitcoin and crypto, while I see many people are jobless because of this pandemic.
And about the relation to bank system, In my opinion, bank is more complicated moreover related to the administragion. And when we need something from bank, we need sometimes some complex administrations to complete.

For those who had believed into those early times did really make out some life changing rewards as the profits that they had earned out did really make out some nice profits but to those who havent then they would

really be needing on doing such investment acts for them to benefit out and this isnt something that would just give out those financial freedom if you wont really act out.

Just like on typical investments that we do know then you do still need to put up effort for you to get grasps of such opportunity.

The only financial freedom that was spawned from Bitcoin was the huge increase in price and the fact that some people might have gotten rich based on this alone. We should all congratulate people who had the conviction to hold on for a long time and made a nice sum of money in return. Besides that, Bitcoin has not produced financial freedom in any other respect, unless you might be living under an oppressive government who has banned cryptocurrency trades and you're using it (illegally) to get around this repression. For most people they are wealthy or poor and another currency that can be used worldwide coming into existence does not change that fact.

You will get there as long as you keep working towards your goal, it could take a long time but you will get it if you are as focused on your goals as you are now.

After all you are invested in the market that has given the most profits during the last decade, and even if the profits that bitcoin and some other major altcoins can give are now more limited, at the same time there is still a lot of potential profits to be had as long as you are willing to hold your coins for the long term.

I have to say that financial freedom is one thing but it actually gave me the real freedom, like freedom to be happy in life. Before crypto, I used to work hard shifts at my work, now I am much happier thanks to my crypto income. I am planning on doing this for the rest of my life, I mean maybe I will find other stuff to do like a hobby, these days I do not really have any hobby at all, maybe playing PC games here and there but I haven't been able to do that for months now, so in the future when I get rich enough I want to spend some time relaxing as well.

However, so far crypto gave me the chance to be financially and otherwise free to do whatever I want with the time I have and also not worry about money. Being able to say "I do not worry about money too much" is just a big freedom to every other part of your life as well, and that is the power of bitcoin.

I'd say the best way I realized I'm "financially free' in the Bitcoin network is cause I'm my own bank, I think not just me but majority of Bitcoin users love the network cause they control their funds themselves, for example when you have your money in the bank, it's very much susceptible in one way if another, cause the government can freeze it on one ground or the other, but in the Bitcoin network all you need to learn is the security protocols, how to safely keep your funds and ensure that scammers do not steal it from you, there's no government, nor centralized body that can preside over your funds.

But having said that, users need to understand that you only have 100% control of your funds when you have the keys/seed phrase, if you make the error of keeping your funds with centralized services were you're not in possession of your keys, then remember, if it's not your keys, it's definitely not your funds; the government can also seize your funds through centralized exchanges as well as track you, thus always use a non-custodial wallet, and keep your seed phrase/private keys safe and to yourself only.

I also feel the same way that the government will try to tighten the regulation if something goes against their interests. It happened in my country,
one government agency said something negative about crypto. This makes some people who don't really understand crypto receive misinformation,
and ends up making crypto look bad to some people. Finally I feel not free to use crypto in my own country, not because the government forbids it,
but because people getting this misinformation make me uncomfortable. They try to influence me with their wrong thinking about crypto,
it all started with a statement by a government agency that seemed to corner crypto in my opinion. So for now in real life I prefer to use crypto
secretly without other people knowing about it, except for my family and closest people who already knew from the start. I hope that in the future
the people of my country will be more receptive to the presence of crypto. Although I know it may take a long time, and I have to be patient with it.

Freedom into those who had wisely made out investments and do knows on when to pull out when they are on gains or to those people who had simply held up and wait for long term but everything will really vary on how someone would do or put some hardwork and effort.
Money or profits could just flow in without doing anything unless if you do held sigificant amounts of coins then it would be possible
but we know that not all would really be having that kind of amount so it all varies.

Bitcoin in general provides financial freedom for many of its users. With today's crypto technology, new projects are born and are very actively traded. Apart from Bitcoin, several other Altcoins have also given me financial freedom. For those who held Bitcoin in 2019 and sold it this year, of course they have made a lot of profit. So I say not only in small ways, but Bitcoin provides financial freedom for many people at large.

You're exactly correct, privacy and financila freedom is two complete different things. But I still get it what the OP want to say or meant to say.
It's true to that nowadays bank are so strict and began questioning some irrelevant things that it it doesn't make sense anymore because we just want to withdraw/deposit our moneys to and from them. Instead, I want to see that they are happy to help us because it's our own free will that we let them take our money to store with our own expense because we practically pay them to keep it safe. But what's happening now is that exact opposite of what is suppose to happen.
Bitcoin opened our eyes that we don't need them and centralization is getting us blind and follow them. Bitcoin offers us the solution to do what we want in our money, privately without any questions at all. And ofcourse it is decentralized.

So far I didn't full realise my financial freedom yet. Crypto currencies are a big part of my investments, the rise in crypto prices shows the power of a decentralised financial system. But to reach freedom I need to buy physical things again. The most important one is probably owning a house. Only after living in my own 4 walls without paying back a bank loan I could fully feel financial freedom. Even if we make decent money with cryptos, as long as we need to pay large monthly bills in fiat money are we stuck in the rat race. Escaping the rat race from Robert Kyiosaki would mean freedom for me.

I prefer to call it privacy as financial freedom  in my understand is when you don't have a problem with money anymore, and that you can buy and do anything you want with your money, and that would not make you worry about your future.

Banks would certainly ask questions, that's normal because they are mandated by the government which is the central bank, they are just implementing it, so we should get used to it. I'm pretty sure before we open a bank account, we are pretty well aware already of the do's and don't and the basic requirements, etc.

I don't really buy your idea of how you came to realize that Bitcoin is a financial freedom. If I may asked you quickly please which country do such a thing happened to you for I don't really believe in this your story as it looks like a cock story in my opinion except if you are withdrawing a huge sum of money but in your case is a little amount of money.

As much as we want to bring out the positive side of btc and the positive effects it has on our lives, we shouldn't over exaggerate things from what they really are, I don't know where you live but I find it hard to believe your post, I don't know which bank in this 21st century will be so shallow to ask such questions just to withdraw money which belongs to the account owner, it doesn't sound right to me.

This is the best thing that I feel about this crypto market. Bitcoin market gives us a freedom that we can withdrawal our currency at any time and any amount. We did not have any restrictions just like banks. We can use our money without giving any explanation. So, this is the good thing that I feel about this market.

Nice encounter and realization! It is true that crypto has provided us with so much anonymity and freedom to spend funds without anyone's authority over us. I have some little experiences as well, like, I had problems while transacting in past when the payments server probably got bugged and my payment to the shop owner very late and I had to send him again. Even when using cash, there are so many problems, condition of notes, keeping them safe, the trouble of counting them etc are so much, crypto has made it all easier to make transactions and make predictions on estimated payment arrivals.

It must also be understood that easy to invest does not mean easy to make a profit from investing,
Basically, whatever the investment, there will always be risk.
there are indeed many people out there who have already gained financial freedom because of crypto

Bitcoin has changed a lot in our economy even in our personal lives especially during this pandemic. Lots of people have been successful because of Bitcoin investment. I could say that Bitcoin is a reliable source of good income if we only know how to grab the opportunities that it could offer. It even made important transactions more convenient as a currency and mode of payment. If there would be more adoptions and a lot more people would get to see its importance, I'm sure that we could all experience a better level of financial freedom.

No bank or its employees have ever asked me the same thing until now. But luckily I never had the urge to keep money in my bank account for too long because I don't like bank investment. Although one day they asked me where I was going to spend my money, so I guess I won't answer very openly because I believe that's the privacy I should have.

To be honest we all realize that banks are no better than bitcoin when it comes to privacy because the two financial systems are completely different. Centralization vs Decentralization and we know which is the best of the two. A good solution is bitcoin which can give us financial freedom.

Well, my bank has never asked me such a question before why trying to withdraw money. But, I do know that banks placed a lot of restrictions on how we spend and receive money. For example, I do have a friend who received a huge sum of money, and the bank had to lock his account in the bank, and he had to go there to clarify some things on how he got the money and what kind of business he had to do and all that, there were lots of questions he had to answer to before his account was unlocked.

I am very much aware of that one, it’s a normal thing that banks do, whenever you receive a huge sum of amount that have never been to your account before, they are likely to suspect you and start asking some questions. But in Bitcoin, nobody is ready to ask you that sort of question, because you are the one who is in charge of your money when it comes to Bitcoin.

One can only hope.
Beside arguments about the meaning of financial freedom and whatnot, at least now, I'd be very happy if I could start and Bitcoin (or any cryptocurrency) gave me the freedom to have some food on the table everyday, and not having to think if I'll have a roof over my head tomorrow. I'm sure "financial freedom" has different meanings for different people, and probably (hopefully?) it will have a different meaning to me in the future, but, for now, that's it.
A few weeks ago somebody posted a meme on facebook: "you can't have a full life on an empty stomach". I couldn't agree more.

Btc provides some sort of freedom and life changing opportunity btc gives you easy access and you can transact freely without any third party, people can easily invest in btc without any stress unlike stock and other government assets, but for you to attain financial freedom, it means you have really made good money with crypto.

I take the example of myself personally, although bitcoin has not been able to provide financial freedom for me, but with bitcoin and I know bitcoin has an impact on my economy, I can make money from here and are not bound by time like we work for companies. I think the freedom to make money here is very easy for anyone, as long as they have the will to grow

Of course everyone has their own experience with Bitcoin and not everyone gets financial freedom from Bitcoin,
but it must also be admitted that since crypto a lot of people have benefited and this is a positive thing

I have personally experienced it.  Bitcoin has enhanced many lives. Bitcoin reduced my burden. I earned Bitcoin and used them to clear off my debts and yes an every ending online forum supporting too many lives here. So many here have gained much from trading as well. We have vast opportunities here for full time and part time earnings .                                                                                                                                                                                 

what we feel right now is hard to explain to those who are new and have never benefited from bitcoin at all, bitcoin really gives financial freedom to me personally, if someone says that bitcoin will be banned all countries and die then I will not leave it because in this world only bitcoin gives me financial freedom..

In fact I had a similar experience long ago and it is just one of the many reasons I support bitcoin, I had a bank account and I received terrible service from the bank so I decided to close my account and get whatever money I had there, which by the way was not a lot.

Now anyone reading would think that it should be easy to close a bank account right? But it was not, they literally treated me as if I was asking them a favor when the money that was in the account was mine to begin with and it took a whole year for me to get my money back, so while I have always been suspicious of banks this only increased my determination to not use their services unless it was completely necessary for me to do so.

yes, all who invest in their bitcoins have got financial freedom. This is for those who are not afraid of losing their money in the past, bitcoin was once underestimated by some for its future opportunities. and now the fact that there are a lot of new billionaires with huge profits that bitcoin gives. i don't make a lot of profit from bitcoins, unlike the surviving investors many years ago. bitcoin has given me the trust till now to fulfill my needs.

Maybe what we can do now is still trying to have more and more bitcoin, even we can not use bitcoin for free like in the other countries because I am sure that someday, our banks and the government can change their minds and they will start trying to integrate their system with blockchain. When that time comes, we are ready to get deeper into the new system in our country and besides that, we already have more bitcoin that we can use for many things, including making more money. We still have a chance to accumulate more bitcoin while the government and the banks are still learning about bitcoin.

It doesn't make sense to me why the bank would ask you that when the amount you are withdrawing is not very large. I think there is no right for them to ask where we are going to spend the money after withdrawal because that is our right and as long as no rules are broken then there is nothing to stop us from doing that. But maybe they don't want to lose one of their investors and in that case you. Lol

So far I have been asked about the origin of the money that goes into my bank account by bank employees during their working hours. This is a personal question and not a workplace related question and I answered it, it doesn't matter to me. Nevertheless all question about finance I think it is someone's privacy and on bitcoin we will never experience it even in such a large amount. Nothing more, bitcoin offers us better financial privacy than fiat and I've known that a long time ago without even the damn question.

I share this bank experience with you a number of times. Not only do I dislike it, I hate it very much. When they raise questions, it's as if you, their valued client, is a suspect. They're asking questions as if your money is earned through illegal means.

Anyway, we have more or less the same experience. I was also an expat. Aside from gambling, one of the earliest practical uses I had with Bitcoin is remittance. But it did not actually take away entirely all the hassles my family had to go through. There's no problem in depositing Bitcoin, sending it to my family, them converting it to fiat, and so on. The problem is that the local crypto wallet which is duly licensed by our country's central bank is requiring KYC. Not only that, upon withdrawal of the money, if through an over-the-counter transaction, the bank staff will still ask some questions.

I agree with this, but this is their rules and regulations, unlike with bitcoin. As long as you create a wallet, then you are good to go. But still, if we are converting bitcoin into our currency, we still need to go through banks or other services to get our money since there is still no escape. But the problem with this is that if you don't have the requirements, then you ca open a bank account. But based on the fact that bitcoin gives us financial freedom, it also helps with our daily needs.

I was never asked "many stupid" question whenever I tried to withdraw money from my bank (I rarely do that). If it was a small amount, then why not use an ATM to withdraw funds. No one would be asking you anything. It's normal for the banks to ask questions when trying to withdraw mid to large amount of funds. They usually do that to make sure you are not falling for some kind of financial trap. As far as I know, banks have saved my elderly people from falling for such scams where they are told to transfer large amount of funds to another account. And bitcoin doesn't give you financial freedom. It just eliminates any third party people or institution from controlling your funds.

There's no such thing about taking over because both things could exist which means there would be no overlapping on each other and its no surprise
that government would really be focusing on something that would really oppose their interest or simply being decentralized.
Regulation is inevitable and it cant really be avoided that it would become stricter and tighten over time into those platforms
who had been dealing with crypto.

This is surely an inappropriate question, I never experienced it. I have withdrawn my money from our local banks many times but the bank officers never asked that kind of question. I think what you ever experienced is a rare case, mate. It depends on the bank officers or procedure to withdraw money on that bank, I mean probably not all banks do the same thing.

So far, I just realized it as an opportunity to have an independent job, without depending on job vacancies opened by the government. Since I can earn some money by investing or trading Bitcoin regularly, means I can get regular income from the Bitcoin business. However, here we cannot use Bitcoin as a payment tool, so we still rely on fiats for any payment purposes. It is a bit difficult to have pure financial freedom in the country that allows their citizen to use Bitcoin as a digital asset only.

Not only now Bitcoin can't take over, but it looks like Bitcoin will not be able to take over forever. We know how governments rely heavily on banks
and don't want Bitcoin to take over. It may be difficult to make the government aware that by providing support for Bitcoin, it can provide many
positive things for citizens. Until now, there are not many countries that support Bitcoin, most countries in the world are even neutral. Indeed,
due to decentralization, the government considers Bitcoin a serious threat to the banking system. Even though such thoughts are wrong, Bitcoin was
not created from the beginning to replace banks, but only as a payment alternative. Hopefully in the future a miracle happens the government
can support crypto for the good of the population, because many positive things can happen if the government supports Bitcoin.

I would personally say that it gave me freedom to do whatever I want and just in front of my pc. In fact I actually had a whole idea about a website that would show you all kinds of ways to make a profit based on what you can do to earn crypto in front of your PC. Jobs, bounties, airdrops, giveaways, works to be done, participation, faucets and whatever else, even signature campaigns are a good example of the whole deal.

So, I would guess that if you could spend about 8-10 hours a day in front of your PC, then there are ways to make a profit via crypto world and it will give you insane freedom. Imagine instead of waking up at 8, starting work at 9, finishing at 5, coming home at 6, you start at 8 and finish at 4 and that's it, rest of the day is yours and you did not leave your house at all. That's the power of crypto and I have been in love with it.

So based on that brief description what makes you that Bitcoin provides financial freedom? maybe there are no questions that seem to push us to continue to save in the bank? Honestly, the bank doesn't need to ask what you're withdrawing money for and what it will be used to buy, because that's not their right. The bank only serves customers to make deposits or withdraw money. There are no specific instructions or rules regarding these privacy questions. I also receive this question frequently, but not in all bank withdrawal offices. only a few. In conclusion, I only assume that the question asked is only a question as a basis for the approach between bank workers and customers.

Nah, never got such experience yet because bitcoin is not that freely traded in my country and on top of that I am not sure if my country will ever give us relaxation on the crypto use so that we can just leave the banking system and go all crypto!

Though banks are hard sometimes, then also I don’t think I will ever face such an issue. Here you have many ways of withdrawing your cash and the limit is pretty enough so as not worry about anything at all. I mean I am talking about the limit on debit cards and even cardless cash withdrawal at ATM.

Moreover, even if you visit in the banks and ask for heavy amount of cash, it will be dispersed without any questions. The country is India by the way.

So far no grudge against banks. 

Regulation is the main issue on here and it wouldnt really be just right on being that confident that fiat system and other industries attached to it would really be able to replace on what those things have done into our lives.

Yeah, its cant really be denied that crypto did really give out that kind of big benefit in terms of money making investment but we should mind off
that it would still be requiring such effort and investment for you to earn.

Finandical freedom is something that you do need to work hard before you could attain it.

Not every banks are having employees raising more questions. I haven't got similar experience, but these days banking services are getting more user friendly and are well responded than the past. This is the personal experience of mine with the bank in which I've account. In particular when we're going for gold loan we're much welcomed as they'll get good revenue out of the interest.

Bitcoin have given the financial freedom, but the true freedom happens when everyone is able to buy anything wanted with cryptocurrency same as that we use fiat at present. For such a scenario to happen isn't an easy thing and not this can take years and years. So, financial freedom is yet to happen through adoption.

Bitcoin can be the solution as financial freedom indeed but the problem is we are life in the countries who always be rely on banks for daily transactions and traditional banks seems never let Bitcoin taking over their positions and moreover governments support banks so in my view bitcoin as the solutions of financial freedom will not be able to work optimally because not get fully support by governements

most of the people who have financial freedom they do have several sources of income so they are not only supported by one line of work. for now we must be able to adapt to changing times, where there we must be able to find opportunities which can make money. as well as bitcoin which prints a lot of new rich people to date

My mother had the similar experience like OP as the teller asked her what is her job and where the money comes from. It's a big amount as compared to regular withdrawals because my sibling sent it to her for the payment of the land. And since my mother said she has no work, of course the bank will further inquire why she has that amount. So she explained that my sibling is working outside and earning good money. So yeah, I can see the disappointment of the OP if a banker asked you some "insulting" questions but maybe they are just doing their job because of the AMLs.
But when it comes to crypto, you can really feel the difference as you can transfer funds from one point to another without anyone bothering you. And even if you use your local exchange, once you already submitted kyc, it is also easier to convert your crypto to fiat.

Of course you would need to work and not just sitting there and waiting to make money unless if you do have leverage businesses which can sustain your living but if you are dealing on something which does need some effort then you do need to work for that and wont be waiting specially when you are trading.You do need to be smart and skillful on making profits and some tend to hold for long term or tend to be idle because they cant just handle
up volatility.Financial freedom is something that could be acquired on having lots of income sources.

have never experienced banking service difficulties in transacting withdrawals from the exchange,
maybe I'm in a small amount not big so the bank is too worried about the bank to ask the source of my funds
it's true that bitcoin helps me in the economy, but I hope bitcoin can help me financially free from debt and installments

Not only with Bitcoin but on other coins as well specially to those who had profitted out  on dealing with altcoins too which give out 10-100-1000x
returns which is really something possible and could give that opportunity to have some financial freedom.

If you are living with it on daily basis because of trades then its up to someone on how they would be dealing with it.Not all would be having
the same capability or skills.

So it does vary on how they handle up themselves into this market.

It all depends on how you trade with bitcoin, if you trade daily for profit then your days can fulfill all your desires. Likewise, if you make long-term investments with bitcoin, you basically have to have other jobs before you get a large return on the value of your investment. Financial freedom has been felt by many people who use crypto, especially those who have invested in bitcoin.

Traditional banks bcome ancient mold beause no development aftet computerized card,But still we caught becaus of government.Yes BTC give you protection and opportunity how much you claim no one will inquire you,But on the off chance that you need open an account there's constrain and we make exchanges in restrain and grant verification that how we win that money. Bitcoin is future worldwide money but still banks dont take it genuine some time recently it gotten to be as well late they will do doubtlessly beacuse request of populace and in case they dont at that point will exit from the market. There are numerous benefits of BTC conjointly lacks but government can fill to form arrangement approximately Bitcoin to faciliate the common individuals.

In my opinion to achieve financial freedom with bitcoin is to have a capital of at least $ 250k or 5 btc, with 5 btc we can use it for staking on binance or other exchanges so that without working we can earn at least $ 5000 per month (for the current rate), for me with $ 5000 then it can be used for business capital.

I know bitcoin and cryptocurrencies since 2013 when the price of bitcoin skyrocketed past $1000, at that time many media reported including bloomberg tv which updated news about bitcoin almost every day, and since 2014 i have been active for bitcoin earning with faucets, ptc, and many giveaways those who pay with bitcoin, at that time it was still easy to earn bitcoin, even I was earning up to 0.5 btc a day because of the lucky draw.

It's normal for banks to ask such questions when you're withdrawing directly from the counters especially if you're going to withdraw huge amounts of money, this is most times so the know if they're the reason why you want to cash out and so the could buckle up if there's any need for that.

The privacy we have in the crypto world cannot be overemphasized,it's just amazing how you have access to your funds without being answerable to anyone.

More or less. I have used it a few times for transfers and the like, but I am mostly a hodler. Bitcoin has not changed my life greatly, although I am fully aware that it is the case for many others in the forum.

My attitude towards money, bitcoin and investment is thinking in the very long term, decades or even a century ahead. To put it plainly, I hope that my grandchildren are born financially free. Taking that approach means that you will not take as much advantage of your personal achievements during your life time and it is a philosophy that is completely opposite to all the messages you are getting out there from commercial advertising, financial institutions, news outlets and society in general - so it is not for everyone.

I can vouch for this. I know people with a lot less money acting like they are very rich as soon as they see even slightest amount of profit and their return to regular life is very quick, and I have seen very wealthy people living like mormons as well, I have a friend who has 16+ million dollars (not really a friend but someone I know online from crypto world) and he was using a very very old Samsung phone, like the ones you can get for 50 bucks because it is like 10 years old, dude barely got himself a new iPhone 11 in the age of iphone 13 pro max plus or whatever.

This doesn't mean rich people do not spend money, they very well do, it is just that everyone has different understanding of richness, not everyone will be living a horrible life, even a very well educated person with taste living with minimum salary will have a different life than an uneducated lack of vision person living with minimum salary.

I would love to say a lot about it since earning Bitcoin from this forum from 2016. Yes indeed it was and is so supportive. I remember, I was looking for an online jobs and yes my friend informed me about bitcointalk.org forum and taught me to work on it. I would say, only Bitcoin earnings in those days were so so so supportive to manage my needs along with my small income from my regular job. 

Yes definitely everyone has their own kind of definition on how they would describe the word financial freedom but I guess we are in the same perspective when it comes to aim how to increase our earnings and that is where bitcoin for me comes into picture. I mean today I realize that having or owning a single bitcoin makes me a millionaire when it is converted into our fiat but on the other hand owning bitcoin without any knowledge how to handle it properly how to make this asset grow will not going to sustain my dream of having a financial freedom. For me, owning a bitcoin comes with responsibility, this token is truly an asset that needs to be managed properly.

Bitcoin and crypto-currency brought you close to ourselves in terms of our financial transactions, without the government approval or disapproval, I feel this is part of the grudges the government has with crypto-currency, regardless, in term of financial increment Bitcoin has giving financial increment to some through investing/trading or other means, but before Crypto-currency and bitcoin people has made profits in a way relating to investing, trading so that's not crypto-currency unique qualities, it's main uniqueness is that it's decentralized.

its been a long time, maybe when i got to know bitcoin for the first time. I realize the current banking system is very annoying and doesn't give us freedom. lots of regulation and don't forget about taxes. I'm not hating about this, but come on I can compromise on taxes, but why am I in trouble just to spend my money. bitcoin is different, it's like I was given freedom. although always dealing with KYC, but this is better because it doesn't bother me. I have experience sending money to different countries, usually I use Western union with a large fee. but with bitcoin or other crypto, everything is done easily. this is one form of freedom from crypto that I feel.

Yea, I know the abbreviation of financial freedom would be different for the individual person. This means it would vary from person to person. But for me, I like freedom storing and spending my funds. I am not worried about taxes, if I earn from my country in real-life jobs, then definitely I have to pay tax. But if the government does not help me out to earn from abroad somehow like freelancing then I don't think they deserve tax. No matter I earn Bitcoin or fiat. Here even I clear all the tax the bank asked many questions. That's the real concern when intend to spend my own funds from the bank. So Bitcoin gives me freedom here. That's what I realized about financial freedom.

Sooner or later, you will have your financial freedom like other people. You have the right thing to do by keeping your bitcoin and not spending it on unnecessary things so I think you can get your time to have financial freedom, especially if the price increases later. We can admit that bitcoin really help our life and finance and that is why many people still want to make more bitcoin in many ways because they want to have financial freedom in the future.

I believe everyone has his own imagination from financial freedom, for some people economic freedom is mostly about to have privacy and for some other people due to their situation economic freedom is just about transferring money without of the paper works to another country. I think bitcoin gave us the freedom to act like we are all living in one country where anyone can have his own bank account, no matter at what age and what tax situation, people from all over the world can have their own wallets even if their country is suffering economic sanctions.

Didn't really happen to me tbh. I've always considered banks to be something bad but helpful at the same time? It's like adding those qol changes in a game where you won't exactly see it immediately, but as long as you keep playing, they'd pop up here and there and you'd realize how damn helpful those changes actually were. I've also rarely spent my Bitcoin, and times I did were times I just realized they had an option, so I wanted to try it. I'm guessing they asked for a reason, meaning centralization is there for a reason. Same with Bitcoin being made and used by others, in the end it's really a matter of preference ig?

Maybe one day you will be happy that banks ask those questions, because hackers will try to drain your bank account, and these measures will stop them. Unlike with Bitcoin, where one mistake, one wrong click can cost you all your money. Because Bitcoin's independence doesn't come for free, it also brings a huge responsibility, the responsibility that most people are, let's be honest, not fit to take, as they use "qwerty123" as their password on all sites and click on random links and spam emails, and download software from the first result of a Google search.

And not everyone is having negative experiences with banks. In fact, most people probably don't, because otherwise there would be higher use of the alternatives, not only crypto but also things like PayPal or Venmo. I this year had to do some fairly large transactions, and I didn't mind that my bank had me to jump through some hoops, because I don't do such transactions every day. It means that someone can't just hijack my sim and drain all my bank account.

We all are aware that banks are regulated by agency and government which makes it centralised. Any financial system that is centralised means it is controlled. If banks ask for how much you want to withdraw or how to spend it, it is more of craving into someone's privacy and bitcoin isn't regulated, therefore no such issues as limitation would arise. The only limitation is that exchanges are trying to force some kind of kyc on users and limiting the amount of btc  daily withdrawal.

That's really the usual thing the bank goes even if we're going to withdraw a not so huge amount. They need each detail as per records for them to put it on their database. I remember there was a time that I've put it on the form when I was asked where the deposit came from and I've said bitcoin.

The teller doesn't seem to know it and I don't know if she just ignored it or included it. And to date, that bank where I've done that deposit is now one of the strictest banks that don't allow crypto transactions.

Really such situations make us realize how fortunate we are that we're the ones who are holding our money.

That is their idea of providing security to their customers, it might be an invasive process, but it is the current situation we are at now; Similar to how websites would ask you to confirm you are not a robot if they identify suspicious activity. A controlled system is not the direct problem, but as with the internet, one needs to have an option to keep their privacy, especially if they feel they can properly handle their security and do not trust the centralized system.

I have personally not had a personal unfavorable encounter with banks, but being able to privately hold funds and transact is a major perk of holding bitcoin, considering that money is a major tool used to control the masses. Also, being able to send money internationally and have it delivered within moments without any third party.

Exactly. The only real financial freedom can only be experience with bitcoin. And i did experience that whenever i withraw funds from a certain money center. The teller seems to be very inconsiderate already with my privacy and she just keeps on repeating asking me what will be the purpose of my funds and where will these go. So its like there's no privacy at all since the clients are required to answer their questions which i think is very useless after all. With bitcoin, although KYC is there, but its definitely more better than with centralized money centers.

At the beginning of the 21st century I really had the "joy"  or something with e-wallets, but before mentioning my experience related to e-wallets, because as you mentioned well, traditional banking bothers you, the most recent experience was the simple fact of going to request a new debit card because I lost it, things like having to update the residence information, etc, a ridiculous paperwork that cannot even be updated online you have to bring them copies, the most ridiculous thing is that it is easier for me to change my credit card than a debit card, I don't understand it, but there is too much bureaucracy that is not only backward, annoying, but invader, actually, as we already know.

As I mentioned at the beginning, I got involved in the early age of electronic purses, things like PayPal, Neteller by to working conditions were always important to me, and they were really a solution because they allowed me to move my finances with certain advantages, but nevertheless the KYC and always being conditioned to a ToS update sometimes up to twice a year was really a "stone in the shoes" although they were a solution for my financial movements, they were not a choice by conviction but by condition.

So when I met bitcoin was a choice by conviction to my forced condition financial, it is not the absolute yet and I do not think it is necessary but without a doubt it is an alternative that offers a relief of freedom to access your funds and handle them as you want.

That's the benefit of a decentralized system. No one gets to control how you spend your funds. But in a centralized system, too many stringent measures just to frustrate your frustrations.

I think this isn't a very nice comparison, because such questions generally come in only when you try to withdraw cash from your bank and would not come when you try to make any online transactions or you try to do any transactions through cheque. Financial freedom moreover is something else, it's not the freedom to spend your money without telling anyone instead it's about not working every day for money in your life and focusing on other important aspects of your life. I think I realized this only when I was able to focus on the qualitative aspects of crypto that no matter which coin you invest in if the project or the idea is good it will definitely run one day.

Never faced it with banking services, not sure where you're from, though. However, it has happened to me twice, on PayPal. I was asked to justify earnings from doing a variety of tasks, or even selling stuff from eBay. Got my account locked for quite a while, till I provided them with any necessary documents, while having to phone them twice, in the USA.

The best thing about cryptocurrencies is that I don't have to account for anything, I've got my wallets, hidden from public view of the usual services, which I'm using to save money.

I don't know if I would call it financial freedom, maybe some kind of financial security and independence from banks in the sense that no one will set any conditions for you if you want to send a certain amount of BTC to another person. Of course, I mean the case where a person has complete control over Bitcoin through a non-custodial wallet.

However, having a BTC does not mean literally being independent, because in some countries it is very difficult or almost impossible to pay something with a BTC, or convert it into fiat. Not everything is as simple as it seems.

Banks don't do a lot of things on their own, they are forced to ask for more and more information and I know from personal experience that people who work there are not very comfortable when they have to ask all this. The same is true with crypto exchanges, which are under enormous pressure to work on more detailed KYC for their clients, who, like bank clients, sometimes feel like criminals who have to prove they are not criminals or finance terrorism. Unfortunately, Bitcoin is still quite dependent on the system to which it should be an alternative.

It's not about financial freedom always, sometimes it's about the ease of transactions, it's about how easily you are able to take it out and how long it does take for you to transfer.

For me I always need to take out my university fee, since I live abroad, the amount of time it takes is honestly not good. Therefore at the end of the day, usually I have to use Bitcoins now and then, ik volatility might be taken as a negative factor but if we consider the amount you will pay for: bank charges+ withdrawal charges+ currency conversion, it all comes out to me less for sure and the amount of time it takes is like 3 hours and for normal bank transfer sometimes I wait for like 3-4 days.

I don't really think that the government is doing better in this banking sector, these things have been here forever and therefore I do think that If they are not willing to make advancements in the same, people will find a way, and they did, that's *bitcoins* for you.

I like your last thought.
I used to voice the opinion that "bitcoin is freedom and fiat is slavery" under all my social media profiles. I immediately stopped when I realized that the slogan was not appropriate to be voiced in my country. In fact, to this day I still can't do anything more with bitcoin, other than hold it or exchange it to fiat through the bank first before spending it.

The moment that I was able to buy stuff for myself without any worries of how much I am going to spend, I think that it's that time that I have experienced financial freedom. And I think that everyone have felt it early when they've made profit from bitcoin either from hodling or being there since day one.

I think it was the time when I bought something using bitcoin via p2p exchanges. I mean, some people do treat BTC as a form of asset or currency but the restrictions imposed on banking (like the one you mentioned on your example) makes it more difficult to experience financial freedom.

I remember back in 2018, my friend referred me someone who was looking for BTC in exchange for his products and electronics. I quickly grab the opportunity since he was selling it at a discounted price. After our transaction, it made me realize that what nothing was hindering us from exchanging.

I know that banks can be annoying, but I guess it really depends on a country and on a particular bank. The most popular bank in my country is actually pretty chill about things like that. You can come in with a couple of thousands of dollars and just say that you want to deposit them to your account, and they'll simply do it without asking anything about the source of the money (well, at least if it's a rather rare thing for you to do). You can also withdraw a similar amount very simply by making an online request for them to prepare a certain amount of money for you in a certain bank department that you'll visit, and they also ask no questions. But I'm not sure what you meant by the amount not being much, and if it's significantly for than what I described, I don't know what would have happened in my case. I do agree that it's great that using Bitcoin doesn't require thinking about this stuff and answering questions, but there's also a huge downside: it's not really financial freedom if you aren't free to use Bitcoin wherever you like. I know it's not its fault, but the amount of places where you can spend Bitcoin is still very limited.

I wasn't totally absolute about it because it's true I still have to mention freedom. Privacy is a subset of freedom.

Having privacy is part of that freedom. just imagine the government of China summoning you because upon checking your bank account, you have huge funds they can't believe you earn from being a taxi driver.

I'm still not experiencing financial freedom like I have everything and can live far without the need for help from my siblings. They are always there to help me when I got sick and no one else pays my medical expenses. I'd probably feel financial freedom if I have an investment that will give me dividends monthly of about $20K a month. Unfortunately, I have no investment like that.

Never mind. You still meant privacy, not financial freedom. Financial freedom is when someone is not relying on debt but having the money needed to move on in life.

This has never happened to me before, but it can also dawn to be happying in my country. But anytime I want to spend money using my banking app, it always needed to fill in the reason for spending. I always put in 'business' for the reason and no further question. It can get to the extent that could be beyond expected and more privacy invading.

Fiat is completely centralized, designed and operated by centralized bodies. The governments will all the time look for their means to inavde people's privacy in the name of anti-money laundering and counter terrorism financing. With fiat, there is no privacy.

Everyone knows how Bitcoin is a decentralized cryptocurrency and gives us financial freedom. I am wondering how did you realize that in real life that Bitcoin gave us financial freedom? This isn't a question, this is curiosity.

When I realized? And why? Let's describe it shortly.
A few days back I went to the bank to withdraw my deposit. That amount wasn't much big though, but the bank just asked me many questions. And surprisingly all were fucking questions. They asked me why do I need to withdraw and where will I spend. This happened first time with me since I was abroad for a long time. Then I realize how Bitcoin gave us financial freedom. No one is there asking me the question to spend my fund. How fucking centralized banking system even you have to encounter many questions during withdrawal your funds. They are asking questions like I am beger. This was my real file realization of how Bitcoin gives us financial freedom.

What about it, when did you realize in real life Bitcoin is giving us financial freedom?