Im ready to adond all banks and my friends also dont need banks anymore

SirLancelot

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Quote from: 19Nov16 on May 01, 2022, 05:38:56 AM

The question is whether everything we can pay with cryptocurrencies? I'm sure it is difficult to do all transactions with cryptocurrencies, especially in my country it is still difficult to find Bitcoin ATM and this is what makes the role of Banks still very important.

Depends if your country legalizes cryptocurrencies as a legal tender. That is the only way that you can use your crypto directly on anything but if your country hasn't done that yet then yes you will have a hard time using your cryptos since there's only less stores that accept it for now although there are more stores online that accepts crypto payments.

You can try them if you prefer cryptos more than the traditional fiat but why you need a btc atm anyway? I thought you want to use your crypto directly but I think btc ATM works like trading your btc to fiat. If you want to buy a btc, you can still easily do that even without the help of btc ATMs.

romero121

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Quote from: 19Nov16 on May 01, 2022, 05:38:56 AM

The question is whether everything we can pay with cryptocurrencies? I'm sure it is difficult to do all transactions with cryptocurrencies, especially in my country it is still difficult to find Bitcoin ATM and this is what makes the role of Banks still very important.

Every country have got stores accepting bitcoin, but this is limited within specific region. So, it is a difficult task to spend bitcoin directly on different needs. Another thing without a bank how OP will make a deposit/withdrawal out of his cards. He says Cash Machines are more than enough, but when he start using it once again he'll complain that the transaction charge is high and why to spend in such a way. For this I could use fiat. So, what OP trying to say isn't a possible solution for now.

19Nov16

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The question is whether everything we can pay with cryptocurrencies? I'm sure it is difficult to do all transactions with cryptocurrencies, especially in my country it is still difficult to find Bitcoin ATM and this is what makes the role of Banks still very important.

barbara44

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You said you are still going to be in need of ATM machine, then how do you make use of an ATM machine when you do not have a bank account? Before you can be able to make use of an ATM machine you must have had money saved in a bank before you are able to withdraw from an ATM machine, unless you are referring to a Bitcoin ATM machine? And your exchange cannot serve as a bank, another thing you’re also forgetting is that exchanges can be hacked, and that can lead to you losing your assets.

If you even want to save your money as Bitcoin, then exchanges shouldn’t be the way to store it, you should have a non custodial wallet where you can store your bitcoins offline.

arwin100

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Quote from: Silberman on April 25, 2022, 06:44:43 PM

Quote from: m2017 on April 25, 2022, 04:03:32 PM

Quote from: Baofeng on April 25, 2022, 03:26:12 PM

I don't think that as an institution, banking system will be simply ignored by us. For sure we all love crypto no doubt about it and maybe some of us are not using any banks at all. But personally, I can't, I have to pay my house mortgages with check so obviously, I need banks to process it for me. And with that, it will be very difficult if not impossible to bypass every huge transaction without banks and fiat.

The banking system will be forced to transform into a different form. In the form that it is, it will be forced to change to the needs of users like OP. But at the moment, there are very few such users. What percentage of BTC users compared to users of the traditional banking system? I'm guessing it's negligible. And I think that people will refuse banking services reluctantly and slowly. All the same, despite the shortcomings, there is convenience in this.

Of course, I would like to see more people like OP and more people switch to bitcoin, but it seems to me that the time for this phenomenon to be widespread has not yet come.

What happens is that once a system is put in place then changing it is very difficult, most people do not see the reason to abandon their fiat currencies, they know there is something wrong as they can feel the high inflation all over the world but they do not see an alternative so they keep using their fiat, however once things get bad enough then that is when people will begin to look for answers to their problems, and that is when we could see a massive adoption of bitcoin and we could reach a critical mass which eventually allow us to use bitcoin in almost every single business that we may like.

Maybe in some reason they fantasize things and think about they don't need fiat anymore. But in reality once they been hit on reality that the fiat still dominant for sure they will think about exchanging their crypto to fiat and use bank for safe keeping. Many people think about banks will die when crypto adoptions spread on many countries, but what provably the scenario will happen there is bank will stay and they adopt the new changes in technology and might they also accept bitcoin deposits/withdrawals or any transactions in future.

Silberman

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Quote from: m2017 on April 25, 2022, 04:03:32 PM

Quote from: Baofeng on April 25, 2022, 03:26:12 PM

I don't think that as an institution, banking system will be simply ignored by us. For sure we all love crypto no doubt about it and maybe some of us are not using any banks at all. But personally, I can't, I have to pay my house mortgages with check so obviously, I need banks to process it for me. And with that, it will be very difficult if not impossible to bypass every huge transaction without banks and fiat.

The banking system will be forced to transform into a different form. In the form that it is, it will be forced to change to the needs of users like OP. But at the moment, there are very few such users. What percentage of BTC users compared to users of the traditional banking system? I'm guessing it's negligible. And I think that people will refuse banking services reluctantly and slowly. All the same, despite the shortcomings, there is convenience in this.

Of course, I would like to see more people like OP and more people switch to bitcoin, but it seems to me that the time for this phenomenon to be widespread has not yet come.

What happens is that once a system is put in place then changing it is very difficult, most people do not see the reason to abandon their fiat currencies, they know there is something wrong as they can feel the high inflation all over the world but they do not see an alternative so they keep using their fiat, however once things get bad enough then that is when people will begin to look for answers to their problems, and that is when we could see a massive adoption of bitcoin and we could reach a critical mass which eventually allow us to use bitcoin in almost every single business that we may like.

el kaka22

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I am ready as well but the world is not. I could literally leave every single bank and just live purely full-time in crypto if I could. But all the places I go to works with banks and doesn't accept bitcoin. The good thing is, the amount of places that accept bitcoin keeps on rising every single day.

Digitally, in the online world we have a lot more places that accept bitcoin, all we need right now is the fact that we could get a good return on governmental places, like how El Salvador made it legal tender, or how Ukraine embraces it right now. If we can get that for many more nations, then we are going to have bitcoin accepted in more places and we may end up with full time crypto living.

m2017

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Quote from: Baofeng on April 25, 2022, 03:26:12 PM

I don't think that as an institution, banking system will be simply ignored by us. For sure we all love crypto no doubt about it and maybe some of us are not using any banks at all. But personally, I can't, I have to pay my house mortgages with check so obviously, I need banks to process it for me. And with that, it will be very difficult if not impossible to bypass every huge transaction without banks and fiat.

The banking system will be forced to transform into a different form. In the form that it is, it will be forced to change to the needs of users like OP. But at the moment, there are very few such users. What percentage of BTC users compared to users of the traditional banking system? I'm guessing it's negligible. And I think that people will refuse banking services reluctantly and slowly. All the same, despite the shortcomings, there is convenience in this.

Of course, I would like to see more people like OP and more people switch to bitcoin, but it seems to me that the time for this phenomenon to be widespread has not yet come.

Baofeng

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I don't think that as an institution, banking system will be simply ignored by us. For sure we all love crypto no doubt about it and maybe some of us are not using any banks at all. But personally, I can't, I have to pay my house mortgages with check so obviously, I need banks to process it for me. And with that, it will be very difficult if not impossible to bypass every huge transaction without banks and fiat.

doomloop

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Quote from: Scripture on April 22, 2022, 07:35:01 PM

Banks are still necessary because fiat still rules the whole market and in my country, crypto is still not a legal tender. I wonder how to live without banks, cryptocurrency is still unstable for now and this is why I still have bank accounts beside they work perfectly with the loans which crypto doesn’t have yet. You’re too brave, I hope you succeed on that, living without a bank.

The only place in the world I think anyone would be able to live fully on Bitcoin would be El Salvador, since Bitcoin has been declared a legal tender in their country. But, for other countries where it is not regarded as a legal tender, anyone who is making use of it is likely going to be having a problem with the government.

So, the possibility of this guy living on Bitcoin is completely zero. At some point he’s always going to be in need of a bank account and the services that they offer. I like Bitcoin, but I don’t think I would switch totally to it, I just prefer to keep things balanced and not rely fully on one thing.

Viscore

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Quote from: hatshepsut93 on April 13, 2022, 07:58:35 PM

There is no difference between a bank and a crypto exchange with a payment card and an ATM. Both are custodians that see all your transactions that you conduct with them, have your KYC information, potentially sell your private information to third parties, can freeze your account or transactions, and will work with government agencies against you. Exchanges are becoming more and more like "crypto banks". And stablecoins are the new bank notes.

As long as they are centralized, all the transactions are still monitored and can even controlled by a group or entity. So they still look the same. And since majority still look up to banks, then it would not be easy to replace and i even think that traditional banks will stay for good. After all, crypto exchanges are becoming more centralized so most likely, traditional banks and crypto exchanges are bound not to compete but to integrate crypto in fiat banks in the future.

Scripture

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Banks are still necessary because fiat still rules the whole market and in my country, crypto is still not a legal tender. I wonder how to live without banks, cryptocurrency is still unstable for now and this is why I still have bank accounts beside they work perfectly with the loans which crypto doesn’t have yet. You’re too brave, I hope you succeed on that, living without a bank.

macson

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Quote from: 325btc on April 13, 2022, 09:17:07 AM

snip

i like your enthusiasm but you can't get rid of the fact that currently you are still dependent on the bank. i also really like living without a bank but because mass adoption of crypto hasn't happened yet so i can't do that. In order for my business to run, i still need banks, but i believe that in the next few decades, when the mass adoption of crypto occurs, people will leave banks.

Vaculin

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Quote from: Bttzed03 on April 13, 2022, 09:41:32 AM

Quote from: 325btc on April 13, 2022, 09:17:07 AM

~ i dont care if they close down all banks same day

Does your country accept BTC, stable coins, or other crypto as legal tender? If not and you're still paying goods and services you purchased offline/online using fiat, you'll still need banks. Even if you close your account now, those platforms you use for exchanging crypto to fiat and other financial transactions are still hooked to the banking system.

Good thing if you are already ready to leave fiat and chose crypto. But the whole thing is, the world isn't ready to leave fiat and mostly all the transactions are still paid in fiat. So how come you will live a normal life without fiat onhand? Banks are still of high importance these days and even if crypto will already be here for good, i don't think those banks will stop their operations. They will come to adopt crypto in their transactions so that they can still continue on serving their clients regardless of the transactions in crypto or in fiat.

Silberman

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Quote from: adaseb on April 17, 2022, 10:21:15 PM

As much as we all would love to abandon all banks. This digital age you simply can’t.

Let’s say your house is paid off so you don’t need a bank for a mortgage. How will you pay all your bills? You got a power bill, the bill is usually paid by online banking. You can’t drive to your power company and pay cash. Sometimes you can pay your power bill with your credit card. But without a bank how will you get a credit card?

It’s simply not possible this day and age. Maybe 20-30 years ago it was possible but these days it would be too difficult.

You are right, living your life without a bank account decades ago was relatively simple, however governments all over the world have put in place laws that hinder the use of cash, and when we add the pandemic to this then the process of avoiding cash accelerated even further, however while getting rid of our bank accounts is impossible for most, we can reduce how much we use them, which is the best outcome we can hope for as of right now.

uneng

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I see no reason to live without banks right now. It will just make life harder and less accessible for different products and services you have to pay in your daily life. The best to do is to adopt bitcoin and keep an account at a bank which doesn't charge abusive taxes and isn't too intrusive. This way you have access to cryptocurrencies, paper money and also credit/debit cards. That is the perfect solution so far.

Maybe some crypto banks are going to be everything we need in a near future, although in this case you will still need to find an alternative to acquire paper money (maybe making a virtual transaction to someone else's bank account and asking them cashout the money for you).

Cryptock

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Quote from: 325btc on April 13, 2022, 09:17:07 AM

To be honest all i need is just cash machine ATM and card to use on store.
As all my money and many people money in on crypto exchangers they feel more secure and even much better liquity then regulars banks.
We dont need old banking system my crypto exchanger is my bank i dont need regular banks anymore what we need is to directly connect cash machines ATM s with crypto so its cobvient to use cash.
Yesterday my bank told me men you need to update some information i said cmon...i dont need even bank all i need is just cash and to keep my wealth safe stable coins so i saidi dont have to do nothing nowdays who needs bank ?

Lets be we are ready to adond all banks i dont care if they close down all banks same day and they are slow to use it for example i want to semd money to china to usa or russia to usa or uk to canada...its a pain whole process but USDT tron stable coin its instant i pay only 1$ and its fast and anonoynmous.

So im ready i dont need nobdy dont even business can start use stable coins its time old way not work and banks are old the banking system now days is like windows 90

I know people who have not had an account in any bank for several years and use only the VISA card issued by Coinbase. Of course, cash is still useful in many places, which is why ATMs are needed, but in most places, as well as on the Internet, a cryptocurrency card is enough for payment for anything.

fiulpro

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That's amazing to see that people can actually do their day to day activities within the range of cryptocurrencies like bitcoins. But let's be honest, it's not possible everywhere, few instances to consider :
1. Paying institutions like college and university
2. Small shops especially business which is locally owned
3. Farmers etc
All these people would rather accept cash than even card and cryptocurrencies, some of them don't even know how to use them therefore it's definitely not possible to do that everywhere as well.
Its also dependent on where you living and what the facilities are around, at some places you would only find things at City centre and during emergency you won't be able to get everything else done using just Bitcoins, since the transactions would also take time even if you consider encashing on local btc to the card of the client. Therefore for some people it's just a far off dream and they can only use it as an investment.

iv4n

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Quote from: adaseb on April 17, 2022, 10:21:15 PM

As much as we all would love to abandon all banks. This digital age you simply can’t.

Let’s say your house is paid off so you don’t need a bank for a mortgage. How will you pay all your bills? You got a power bill, the bill is usually paid by online banking. You can’t drive to your power company and pay cash. Sometimes you can pay your power bill with your credit card. But without a bank how will you get a credit card?

It’s simply not possible this day and age. Maybe 20-30 years ago it was possible but these days it would be too difficult.

I agree it's not possible to do much without banks, simply they are holding the monopoly, and it's not like they are doing anything for free, they are earning a shit load of money from what they do every day! I would love to turn back on banks and fiat and not use them ever again, but it's not possible!
In the end, it's not only about paying bills, how to pay for all other things around? In some advanced countries, there are services that accept crypto, and there are stores and shops doing the same as well, but in some countries and cities like mine, there's nothing like that, yet! So I guess it will take years and decades to get rid of corrupted banks and fiat... if it ever happens, that's always an option!

MrDave

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This guy needs a cash machine ATM to Withrow cash from ?? Will you tell me from where? no need of any bank but still wants cash.

Topic: Im ready to adond all banks and my friends also dont need banks anymore (Read 304 times)