Im ready to adond all banks and my friends also dont need banks anymore - page 2.

monineklutak

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Quote from: Marvell1 on April 17, 2022, 10:38:29 PM

Quote from: Silberman on April 17, 2022, 04:41:18 PM

Quote from: kryptqnick on April 15, 2022, 11:42:25 AM

Op, good for you if that's really the case, and you can abandon banks. I know that I can't, not under current conditions. In my country, you need a bank account to receive a salary, it's obligatory in most places. Now, I'm doing some research, and to receive my grant I also, of course, needed a bank account. Also, I need it often to pay for important things online, such as to help my relatives right now, who are in Ukraine, and I often need to send money to someone's bank account (I could send BTC if they accepted BTC, but they don't). So I could abandon banks if there was enough freedom in terms of how to get a salary and how to pay for things online, but not right now, based on how things are done.

Unfortunately this is not a move that most people can make, where I live the amount of businesses accepting bitcoin are extremely limited, plus my salary is directly deposited to my bank account so I have no way to disconnect from the banking system, however that does not mean that I do not have taken some steps to rely less and less on them, but the day in which I can cut all ties to banks is still very far away for me and I do not see this happening even if a whole decade passed.

Yes, if another decade goes by, banks will still exist and are necessary for us. Honestly Bitcoin is becoming more and more popular and accepted, but that doesn't mean Bitcoin is accepted everywhere, there are still a lot of countries and businesses that don't use bitcoin yet. Banking and fiat money are still the mainstay of the economy today. Thanks to Bitcoin, we can only reduce our dependence on banks. Instead of us investing and saving in the bank, Bitcoin is becoming an alternative in this case.

It is not easy, of course, to make cryptocurrencies, especially Bitcoin, acceptable in all countries,
it certainly takes time and process even though cryptocurrencies also continue to grow I think it will still be difficult too,
indeed, Bitcoin is currently an alternative investment choice that is in great demand

Marvell1

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Quote from: Silberman on April 17, 2022, 04:41:18 PM

Quote from: kryptqnick on April 15, 2022, 11:42:25 AM

Op, good for you if that's really the case, and you can abandon banks. I know that I can't, not under current conditions. In my country, you need a bank account to receive a salary, it's obligatory in most places. Now, I'm doing some research, and to receive my grant I also, of course, needed a bank account. Also, I need it often to pay for important things online, such as to help my relatives right now, who are in Ukraine, and I often need to send money to someone's bank account (I could send BTC if they accepted BTC, but they don't). So I could abandon banks if there was enough freedom in terms of how to get a salary and how to pay for things online, but not right now, based on how things are done.

Unfortunately this is not a move that most people can make, where I live the amount of businesses accepting bitcoin are extremely limited, plus my salary is directly deposited to my bank account so I have no way to disconnect from the banking system, however that does not mean that I do not have taken some steps to rely less and less on them, but the day in which I can cut all ties to banks is still very far away for me and I do not see this happening even if a whole decade passed.

Yes, if another decade goes by, banks will still exist and are necessary for us. Honestly Bitcoin is becoming more and more popular and accepted, but that doesn't mean Bitcoin is accepted everywhere, there are still a lot of countries and businesses that don't use bitcoin yet. Banking and fiat money are still the mainstay of the economy today. Thanks to Bitcoin, we can only reduce our dependence on banks. Instead of us investing and saving in the bank, Bitcoin is becoming an alternative in this case.

adaseb

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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.

tabas

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You want to abandon and boycott banking services but you want cash? How ironic is that? Whether you only have stable coins and cash, you will still need to use the bank.
As you've said those exchangers of yours are also going through the banking service so you have to think that if you're encouraging everyone to abandon them, your influence ain't enough.

Silberman

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Quote from: kryptqnick on April 15, 2022, 11:42:25 AM

Op, good for you if that's really the case, and you can abandon banks. I know that I can't, not under current conditions. In my country, you need a bank account to receive a salary, it's obligatory in most places. Now, I'm doing some research, and to receive my grant I also, of course, needed a bank account. Also, I need it often to pay for important things online, such as to help my relatives right now, who are in Ukraine, and I often need to send money to someone's bank account (I could send BTC if they accepted BTC, but they don't). So I could abandon banks if there was enough freedom in terms of how to get a salary and how to pay for things online, but not right now, based on how things are done.

Unfortunately this is not a move that most people can make, where I live the amount of businesses accepting bitcoin are extremely limited, plus my salary is directly deposited to my bank account so I have no way to disconnect from the banking system, however that does not mean that I do not have taken some steps to rely less and less on them, but the day in which I can cut all ties to banks is still very far away for me and I do not see this happening even if a whole decade passed.

palle11

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You can't run away from banks yet when your country is still dealing in banks and not cryptocurrency, so it is not your decision to abandon it by yourself. Except that you are from El Salvador that has made the use of bitcoin as accepted by all. Which country are you from? Whatever you do about banks or cryptocurrency is with the law in your country because you can't have the choice to act on your own about not accepting or using banks.

Fortify

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Quote from: 325btc on April 13, 2022, 08:17:07 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

Good luck with that. You seem to have a disconnect in your brain between the organization behind who issues your atm card and the huge payment network behind it. You might be incredibly lucky to have a large sum of Bitcoin available to you, but that is a very rare situation and not one that many people will have. It's the equivalent of winning to lottery, so it would make sense that you are either a liar or you're just here to brag - neither of which is a particularly good personality trait. The reality is that for most of the world and for the foreseeable future people will be reliant on the banking infrastructure that has existed for many decades.

kryptqnick

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Op, good for you if that's really the case, and you can abandon banks. I know that I can't, not under current conditions. In my country, you need a bank account to receive a salary, it's obligatory in most places. Now, I'm doing some research, and to receive my grant I also, of course, needed a bank account. Also, I need it often to pay for important things online, such as to help my relatives right now, who are in Ukraine, and I often need to send money to someone's bank account (I could send BTC if they accepted BTC, but they don't). So I could abandon banks if there was enough freedom in terms of how to get a salary and how to pay for things online, but not right now, based on how things are done.

TheCoinGrabber

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Don't keep a lot of your cryptos in exchanges. Also you'd still be converting fiat at some point for some of your operations.

Quote from: Bttzed03 on April 13, 2022, 08:41:32 AM

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.

Quote from: hatshepsut93 on April 13, 2022, 06:58:35 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.

This one. Your activity still fuels the banking system whether you use the banks or not. The only way we can completely cut them off from our lives is if we only transact crypto p2p.

stepwilli

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Don’t keep your money in exchangers, you should have an offline wallet where you’re storing your cryptocurrency assets, that would be much safe as you would have the private keys of your wallet.

If you’re storing your coins on an exchange, the exchange might get hacked one day and you lose your coin or they can as well decide to lock your account or freeze your assets if you happen to do something that is against their rules. I’m saying this because you said that you and your friends are making use of exchanges.

Smartprofit

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Quote from: 325btc on April 13, 2022, 02:10:26 PM

Quote from: Bitstar_coin on April 13, 2022, 10:16:46 AM

I thought you were leaving btc for sometime, looking for a greener pasture somewhere far away from the crypto space Huh

Thought by now you must have left and probably sell whatever you own in btc since according to you the market is not moving the way you wanted it.
Am referring to your topic - Time to leave btc

Am glad to hear crypto is serving you well, keeping your funds safe even if the price is not moving Wink

If banks should close down (all of them) I don't know how you suppose the cash will come about, hope you have thought of that!
If no bank exit who will print cash for you, fill the ATM with loads of it for you to withdraw Grin

lol, you sound like a kid. Sorry to say.

I dont care about btc much im here for USDT and cash thats it.

USDT is a centralized system.

Yes, using stablecoins is convenient. However, you must understand that Tether has the disadvantages of both fiat money and cryptocurrencies. Tether, on the one hand, is centralized, on the other, outside the legal field.

You mentioned Bitcoin.

But Tether exists precisely thanks to Bitcoin and other cryptocurrencies. It so happened historically that USDT is a bridge between the cryptocurrency ecosystem and the old financial system. At the same time, Tether (as well as other stablecoins) has a lot of disadvantages.

As for banks, their importance is drastically reduced. This is facilitated by the development of cryptocurrencies and CBDC.

jaberwock

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Quote from: Bttzed03 on April 13, 2022, 08:41:32 AM

Quote from: 325btc on April 13, 2022, 08:17:07 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.

I was also going to ask him that same question because if bitcoin is not a legal tender in his country then there is no way that he would be able to get rid of banks, since he’s always going to be in need of Fiat to make a lot of payments on a daily.

There are lots of people out there who are interested in making use of bitcoin as their bank for savings and everything but for the fact that it is not a legal tender in their country, there is no way that they would be able to be making use of it, since there is no way that they can be using to make payments in the market when buying products they need.

hatshepsut93

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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.

Hydrogen

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Banks are still our only option for student loans, car loans, real estate loans and similar financing.

We lack crypto alternatives for those markets. And attempts to break into those areas of finance have not gone well.

There is reported to be a 4 billion people on earth who are unbanked that crypto markets can cater to. The 4 billion in this demographic cannot afford the minimum balance for a bank account, lack identification or other basic requirements to have a bank account. And so they often have no option other than to use bitcoin or another crypto currency for electronic payment, transfer, etc.

Personally I am a big fan of how the rivalry between AMD and intel has given us better GPUs and CPUs over the years. Competition in free markets has done much to advance the industries of personal computing and gaming and all of us have reaped the benefits.

The best outcome for banks and crypto is for them to have an AMD versus intel relationship that gives us access to better technology and better opportunities the way the AMD vs intel rivalry has.

325btc

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Quote from: kaya11 on April 13, 2022, 04:32:57 PM

Quote from: 325btc on April 13, 2022, 08:17:07 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

You are quite a rebellious person, I bet you have grief over your government and want to abandon your currency that badly. We still need our banks as of now, you cannot pay small time merchants with crypto anytime and anywhere. If you are living in a 3rd world country then you will be having a hard time buying you daily needs or living a simple life if you only have crypto and no cash at all.

No we need to develope cash machines tp connect to crypto exvhangers thats it.
E

retreat

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Quote from: kaya11 on April 13, 2022, 04:32:57 PM

You are quite a rebellious person, I bet you have grief over your government and want to abandon your currency that badly. We still need our banks as of now, you cannot pay small time merchants with crypto anytime and anywhere. If you are living in a 3rd world country then you will be having a hard time buying you daily needs or living a simple life if you only have crypto and no cash at all.

for now, humans are still dependent on the bank but in the next few decades, will it still be so? Cryptocurrencies were created for humans to be able to free ourselves from banks that have been a third party and are also the old financial system. the banking system will surely be eliminated as the adoption of cryptocurrencies occurs.

carlfebz2

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Quote from: ajochems on April 13, 2022, 03:01:52 PM

Quote from: 325btc on April 13, 2022, 08:17:07 AM

~

Banking system will be replaced by the crypto currency.It may be not possible in a year.But with some period,it will make huge impacts on the price.Some of friends still using of the stock market to inverse their money.The percentage of the profit in the stock market will be very low as compared to the crypto currency.This is reason for huge raise in the price of a bitcoin as

It wont happen no matter what for crypto to replace banking system but somewhat it could really be integrated or adapted but of course it would really be taking lots of debates and talks about on making such step.

There's no doubt or question about profit making level which is more than with those traditional investment that we do know like forex/stocks/indices/estate etc. This is what makes crypto market do really look

appealing but of course it would really be corresponding on having higher risk which is pretty normal and understandable but its a bit point exaggerated that we wont really be needing banks anytime soon.

kaya11

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Quote from: 325btc on April 13, 2022, 08:17:07 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

You are quite a rebellious person, I bet you have grief over your government and want to abandon your currency that badly. We still need our banks as of now, you cannot pay small time merchants with crypto anytime and anywhere. If you are living in a 3rd world country then you will be having a hard time buying you daily needs or living a simple life if you only have crypto and no cash at all.

ajochems

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Banking system will be replaced by the crypto currency.It may be not possible in a year.But with some period,it will make huge impacts on the price.Some of friends still using of the stock market to inverse their money.The percentage of the profit in the stock market will be very low as compared to the crypto currency.This is reason for huge raise in the price of a bitcoin as

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Quote from: 325btc on April 13, 2022, 08:17:07 AM

To be honest all i need is just cash machine ATM and card to use on store.

We dont need old banking system
i dont need regular banks anymore
i dont need even bank
i dont have to do nothing nowdays who needs bank ?
Lets be we are ready to adond all banks
i dont need nobdy

OP, if you stated all of the above just one time your post would be so much less bloated and even more coherent--and not to go off on a tangent, but Jesus, this isn't Twitter or a text messaging service here. It's a discussion forum, so please write posts that are understandable and if possible, concise.

So you don't need banks, eh? Have you actually closed your bank account yet, the one you have with the bank that asked for an update on your information? My guess is that you haven't. And as far as that little inconvenience goes, I'd play Devil's advocate and say that even crypto wallets require updates and whatnot. There's not exactly any way around that yet.

I'd also ask whether you can pay rent, your utility and cell phone bill, and other day-to-day expenses with crypto. You might be able to, but guess what? You're still dealing with fiat and payment processors. Do you think Newegg keeps that bitcoin you bought your new laptop with? Nope. They're getting dollars in the end, and for that to happen you're dependent on there being a service like Bitpay, which might as well be a bank. So take that for what it's worth.

Topic: Im ready to adond all banks and my friends also dont need banks anymore - page 2. (Read 331 times)