Topic: Fiat Banks Conspiracy Against Customers. Bitcoin is the Best Option (Read 922 times)

This has been happening all over the world. But it seems things are getting even worse today with prices increasing big time while fiat is losing so much value in just a short time. And so people need to take out savings to support their needs or to even save them from further losing value. The problem is that banks are losing liquidity in the process. And to also save their existence, account or withdrawal freezing is implemented everywhere.

This makes me feel like we're at the worst of economic times. In fact even Bitcoin, the best alternative right now, is not doing well. People seem to need more money than ever.

Necessary is the mother of invention, and that's true fact. If you don't face this kind of situations, you won't be able to find the difficulty they have with the bank system.
Also the facts about banks controlled by government is true. Some days ago many banks have gone bankrupt in my country due to the global crisis.
They have declined to withdraw money which is not theirs. And yet people still think banks are better than BTC or Crypto. They will learn eventually one day.

I said it before and will continue to say it. I like what Bitcoin stands for and will always be pro-Bitcoin but this does not mean we should not trash the banks that have saved us all the while even though we know they have flaws.
When we didn't have the ATMs it was a problem when the banks close, we have to wait till the next day for you to be able to do cash transactions, now the ATMs have been provided but people that want to withdraw $100 or below want to queue with people that want to withdraw $1000 and above in the banking hall 
I personally cannot remember going to the bank in a number of years because of the ease of online transactions and POS units, I guess we are all different. I know some of us see all negative about the small fees by the banks but we also seem to forget how people also in this forum complain about crypto transaction fees, I guess we all want these services for free. 

This is the condition in most of the countries. Banks know how to exploit and even manipulate when required. I have also noticed that they do not disclose the whole term & conditions while availing for their any service and make people suffer.

bitcoin is indeed the right choice to overcome the problems you mentioned above because with bitcoin we can control our own assets safely and many more advantages of bitcoin that you may already know. and about the bank problems you are experiencing, from my experience not all banks are like that, in my country banks really serve well even to remote areas, so in my opinion what should really be changed is the government or the bank owner, so that they can try to improve their services properly, because in my personal opinion it is not a bank or bitcoin problem but the honesty of humans who are experts or manage these fields.

I understand your argument for Bitcoin and support that too but why then didn't you just take the actual picture of the day you had the incident in the Bank instead of referencing the pictures that were not? You do realize that the pictures were the cause of the argument and that you were just trying to tell us a story we already know about Nigerian Bank and also not to say that some ATMs don't work 24/7 as you also claimed yourself, "what happened to someone does not affect others" your area might be so and other areas might not be, so you can't generalize.

This is the true reflection of what is happening here in my country there have been a lot of changes in the banking system and since after the covid, 19 lockdown banks have not resumed full operation so bank customers have resulted in the use f the services of POS agents who are also now part of the banking sector.
Recently I received an email from my bank that there will be cutting down on the banking operation time and customers should make use of their online Cash point services from recent statistics, banks make up to billions of profits from their pos operation and this has encouraged innovation in the mobile bank agents sector f the bank.

I have no issues here with the Information, we see and hear them day in the life, the thing is that currently in Nigeria, you rarely see such happening cause of the wide use of POS along the streets ( Point of Sale ), banks off course gets crowded but not that much, last time I did account upgrade at a bank it wasn't much of a hassle for man to accomplish, stuff's like the image tell happened or happens during festive and festival periods like Easter, Christmas and New Year's.  You'll see banks crying they're short of cash,but with  wide spread of POS this reduced than it used to be. People hardly visit the banks to get fund's since they can just do alongside the streets.

But then, so much alike with the same pics you brought up, good it's all cleared out now. And Africa and Nigeria! People are just scared of dead, I think this politician's needs brute force. Doing harm to the first 200 will chase others away from the country,  like-minded people everywhere but who will Bell the cat ? No body wants to die, everyone looking for means to leave the country, I ponder and wonder how they sleep at night, when they can't even fight for them rights.

Bitcoin is a good aid but we can't just leave the  fiat currencies real quick

i think a few people are knitpicking wording..

from what i have read.
the OP made a post about banks where they state 24/7 E banking(wire transfers via the website) which got confused with using physical ATM for physical cash withdrawals being limited to bank opening hours

where ATM's also limit withdrawal amounts much like banks cashier/assistants also limit peoples ability to withdraw physical cash.

however bitcoin has no limitations like these.

..
here in the UK i have seen ATM's limit withdrawal amounts and also not function 24/7 because they are machines inside the building of a bank, meaning you cant use the machine if its behind a door that only opens during business hours (same is true for some independant ATM's found in small convenience stores that only open during retail hours)

yes independent ATM's that you see randomly around town outside of buildings are different to the ones that are physically inside a building location.
but even the ones randomly located are also limited to withdrawal amounts. even if they are operational more 24/7(apart from maintenance/low cash available times)


we all think that fiat currency is "ours", where we should be allowed full access to as much as amount is supposedly "ours".. but here is the thing. it is not "ours".
yes we earn the value with our time/labour. but not the product that value is locked into. which then limits how much of the 'value' we then get
(same as not your key not your coin)

it is property of banks. it is their invention and their product, they allow us to use fiat at their discretion. they can recall bank notes, take bank notes out of circulation. change exchange rates. they can even use court orders to seize funds or lobby new laws to take balance/value/funds/cash away from us at their discretion

we, as users of fiat do not have discretion to barter with banks. they make it, they distribute it, whereby they set the terms to receive it back or hand it out.

yes we have been lulled into a sense of trust that its our money. and banks are servicing us.. but the factual truth is century ago. people put real value into banks in swaps for THEIR product(gold/silver standard promissory notes). and slowly over decades. we became complacent to use THEIR product for convenience. thus they gained control of our value until they decided to de-peg our value (gold standard de-peg) to be meaningless and then set up their own value system.

..
however

bitcoin is not a currency made by any company or entity that owns the patent/control outright. btc once in our own keypair control, then the value associated to the keys belongs to us and its our sole discretion who we hand it to and barter with.
to take all of bitcoin out of circulation is next to impossible requiring destroying all blockchain copies of hundreds of thousands of nodes simultaneously and also making mining obsolete. aswell as stopping all development from simply using a milestoned backup copy saved hidden away to restart a halted network

Once governments themselves become decentralized, or at least something similar to it, we will never have to worry about banks or other institutions having an unfair and unjustified advantage over us in the form of arbitrary government-dictated regulation. If the people will want to have banks, they will have banks. If they do not want banks, they will not have banks. There will be no more "you need to have banks, whether you want or not". Bitcoin is the very first form of the new democracy, a true democracy. I believe this will definitely evolve into other areas other than finance in the future. Especially politics.

I don't think banks will ever die simply because they have governments' full support. They will simply create their own digital currencies to "compete" with Bitcoin. People will stay with Fiat even if they won't have full control over their money. If only Bitcoin had widespread merchant acceptance and price stability, things would've been different. The vast majority of businesses and merchants accept Fiat on top of Bitcoin, so there's that. At least, people have an escape route from the current monetary system controlled by central banks and governments worldwide. As long as decentralization prevails, it'll be possible to enjoy true financial freedom. Just my thoughts

Me neither, still I don't claim to know everything on this world and strange / meaningless things can happen.
And although OP has done mistakes and now he went overly defensive, it could have been nice to see him clear this up.

@Agbe: you've started this topic with a mistake (and I'm being nice) related to the images. People getting now overly cautious about your every word is pretty much a normal development. So (as an advice you take into account or not, up to you) you should calm down before any answer you want to give.

African banking system (Nigeria Precisely) it's a total scam. Like you said they are just like their politicians. Starting from how they defraud customers of their funds by little funds most times no reason for deduction to their por customer service.
Crypto currency main goal is to eradicate this fraudulent banking system and pave way for decentralization and transparency where we don't need to worry about calling any customer support when you notice any kind of fraudulent active on your account, everything can be done by user.
I have fully embrace crypto, it's only when I want to make purchase from shops I credit my account and make payment with my card. I distrust my bank up to the extend that I don't allow money stay more than 24hrs without using them off.

Yes, they are colluding and sleeping in the same bed together.  They find Bitcoin to be such an existential threat, and the writing is on the wall that a banks aremn't really needed.

Honestly I've never heard of a bank that forbids people from taking money, this confuses me?
My assumption is that the bank does not prohibit people from taking their money, maybe the bank is filling money at the ATM, so it takes time to complete the filling process (if the assumption is correct).

But for this I strongly agree, that the bank's work system is too slow in serving consumer complaints, this is inversely proportional to the crypto system which experiences speed in terms of transactions, but the next problem is the network, when the area where we live the internet is not strong, then this too becoming a problem.

My thinking is actually more about developing resources, so that the application of bitcoin in everyday life can run as fast as transactions that we know. Public awareness of Bitcoin usage will actually increase further, when processes and resources are fully supported.
I am sure it will be achieved in the near future, because people's awareness of this problem is getting bigger