Topic: One solid reason that I came across for the need of BitCoins. <Be Your own Bank> (Read 593 times)
January 27, 2020, 02:31:04 PM
This is own money to proof that often times we have to strougle need to pay service charge It is at the root of being suconscious about bitcoin cryptocurrency system fully.
January 15, 2020, 02:57:15 PM
For me, it was mostly being financially free. The freedom of being paid no matter where I am without the confides and restriction imposed by the banking system and government.
No need to register with my ID and proof of residence and income. It stays private how it should be. Being paid from abroad with a method that is almost instant is much better than banking where things can go wrong and stuff can take time and there all kinds of fees involved with exchanging the currency and using their system then still banking fees. With crypto, it is just transaction fees and it is much more simple to understand.
No need to register with my ID and proof of residence and income. It stays private how it should be. Being paid from abroad with a method that is almost instant is much better than banking where things can go wrong and stuff can take time and there all kinds of fees involved with exchanging the currency and using their system then still banking fees. With crypto, it is just transaction fees and it is much more simple to understand.
January 13, 2020, 06:42:21 PM
I recently went for USA Visa interview , i.e I applied for a business visa.
For the purpose of VISA, I needed the documents to show my bank balance, therefore I went for getting the bank statement sealed and signed from bank authorities. I am from India the bank in which I have account are one of the best banks in my country.
Now first I took out print out of 6 months statement, then went to bank physically, then the real pain started, they told me to put a seal and sign on my Bank Account Statement, they will charge 100 INR for one month's statement, and I felt cheated, I felt these guys are in a business of monopoly, for my money, my account, they are charging money from me just to authenticate that my balance amount is right.
We surely need crypto currencies, and do not need anyone else's validation to proof that we have our own money. More and More Power to BitCoin.
What steps I am taking to make people aware of the power of bitcoin, and cryptos?
For the purpose of VISA, I needed the documents to show my bank balance, therefore I went for getting the bank statement sealed and signed from bank authorities. I am from India the bank in which I have account are one of the best banks in my country.
Now first I took out print out of 6 months statement, then went to bank physically, then the real pain started, they told me to put a seal and sign on my Bank Account Statement, they will charge 100 INR for one month's statement, and I felt cheated, I felt these guys are in a business of monopoly, for my money, my account, they are charging money from me just to authenticate that my balance amount is right.
We surely need crypto currencies, and do not need anyone else's validation to proof that we have our own money. More and More Power to BitCoin.
What steps I am taking to make people aware of the power of bitcoin, and cryptos?
- Helping them buy their first Bitcoins
- Making the understand the power of bitcoin hash power.
Despite the monthly charges of banks, they also charge for administrative purposes.
If crypto account balance is accepted in Visa application, then it will be required that you print it.
Cryptocurrency eliminates middle men, helping you "Be your own Bank" by doing everything that is supposed to be done by banks.
Then the understanding of bitcoin automatically make people want to invest in it.
December 20, 2019, 05:02:16 AM
What are you talking about? Crypto is sort of like stocks. You making good points for crypto but then you say banks are needed? This makes no sense to me. If society was based around the use of crypto like it is fiat then everything would work exactly like it would now how it is with fiat, it would just be crypto. Right now crypto is still new and experimental. It doesn't help having shitcoin and those who support it either. They damage the name of crypto. Like how the did with ICO projects.
Basically the other cryptocurrencies are just dividing the amount of investment and funds that worthy cryptocurrency should have. Instead of people buying bitcoin and other top cryptocurrencies, they fund altcoins though there are altcoins that have potential in the market, it is still a need to understand that not all will be profitable in the future, so to solve this problem, we should support only cryptocurrencies that do really have the best capabilities and capacities that could possibly make new things possible.
December 19, 2019, 01:53:57 PM
Now we can say that, but for thousands of years banks or some institution that performed a similar function was needed and it is impossible to deny that, if banks were not needed then they will not exist, for the first time in history we have access to a currency that allows you to be your own bank but still bitcoin does not have all the functions that a bank has, and the most obvious example of this is lending, there is not really an easy way to lend your bitcoins to someone else.
I believe that banks still needed now, tomorrow and in the future, but what is the point here is we can safe keep our money anytime without having a bank, and also earning from it if you are holding it, and losing some, you can invest your own money without entering stock market at least here we can manage it anytime and anywhere.
What are you talking about? Crypto is sort of like stocks. You making good points for crypto but then you say banks are needed? This makes no sense to me. If society was based around the use of crypto like it is fiat then everything would work exactly like it would now how it is with fiat, it would just be crypto. Right now crypto is still new and experimental. It doesn't help having shitcoin and those who support it either. They damage the name of crypto. Like how the did with ICO projects.
December 18, 2019, 10:56:45 AM
Now we can say that, but for thousands of years banks or some institution that performed a similar function was needed and it is impossible to deny that, if banks were not needed then they will not exist, for the first time in history we have access to a currency that allows you to be your own bank but still bitcoin does not have all the functions that a bank has, and the most obvious example of this is lending, there is not really an easy way to lend your bitcoins to someone else.
I believe that banks still needed now, tomorrow and in the future, but what is the point here is we can safe keep our money anytime without having a bank, and also earning from it if you are holding it, and losing some, you can invest your own money without entering stock market at least here we can manage it anytime and anywhere.
December 17, 2019, 10:09:07 PM
yes I think banks are always like that. the bank always has a reason to be able to take our money with administrative fees, monthly fees and others. but I know that not all banks like this, there are some banks that are quite friendly with customers and the costs that must be incurred by customers for administration are quite low. therefore I strongly support cryptocurrency with blockchain technology will make transaction costs cheaper and no need to use a third party like a bank. and I will continue to strive to introduce cryptocurrency to relatives and friends. so that more and more people are supporting cryptocurrrency.
almost all banks have the same way of working, they benefit from their customers by charging administrative fees every month. but I think even so, the role of banks is certainly still very much needed by everyone, although now there is modern technology in the form of cryptocurrency that is able to facilitate its users to conduct all transactions at a fairly low cost, everyone certainly needs a central bank to convert their digital money in the form of currency used because most countries cannot fully legalize cryptocurrency as a means of payment or other needs.
No banks are not needed. You don't need a bank to use crypto to pay for something so what are you talking about? The only reason you would convert to fiat is because of the bank in the first place. IF banks didn't exist either would fiat. It's pretty obvious to me. They just here to make money and put people into debt. Offering loans to people who really can't afford it and they do it with a smile on their face since they know they will be getting anywhere from 11%-24% interest per year from you. That is a whole lot of money for doing a whole lot of nothing. The money they loan you they just get from other deposits. They printing money those guys.
December 14, 2019, 01:10:07 PM
Is not that what we are looking for such as Libra usage?
A fast transactional direct way in a legal manner without the warranty of everything being delayed and canceled over time just because of government, authorities or financial institutions?
Bitcoin and every other Cryptocurrencies are one way of doing all those things without having such issues.
A fast transactional direct way in a legal manner without the warranty of everything being delayed and canceled over time just because of government, authorities or financial institutions?
Bitcoin and every other Cryptocurrencies are one way of doing all those things without having such issues.
December 14, 2019, 01:03:56 PM
I recently went for USA Visa interview , i.e I applied for a business visa.
For the purpose of VISA, I needed the documents to show my bank balance, therefore I went for getting the bank statement sealed and signed from bank authorities. I am from India the bank in which I have account are one of the best banks in my country.
Now first I took out print out of 6 months statement, then went to bank physically, then the real pain started, they told me to put a seal and sign on my Bank Account Statement, they will charge 100 INR for one month's statement, and I felt cheated, I felt these guys are in a business of monopoly, for my money, my account, they are charging money from me just to authenticate that my balance amount is right.
We surely need crypto currencies, and do not need anyone else's validation to proof that we have our own money. More and More Power to BitCoin.
What steps I am taking to make people aware of the power of bitcoin, and cryptos?
Our world is full of people taking advantage for money, they would literally do anything they need to do just to get your money no matter how unethical or unfair those ways are. Your purpose of teaching other people to know the advantages of using crypto than banks is good but it would be a hard time making them all realize that its already time to switch on crypto. You can tell them the basics maybe then let them decide what to do next cause not everyone would give it a try given the fact that they are not knowledgeable about it. For the purpose of VISA, I needed the documents to show my bank balance, therefore I went for getting the bank statement sealed and signed from bank authorities. I am from India the bank in which I have account are one of the best banks in my country.
Now first I took out print out of 6 months statement, then went to bank physically, then the real pain started, they told me to put a seal and sign on my Bank Account Statement, they will charge 100 INR for one month's statement, and I felt cheated, I felt these guys are in a business of monopoly, for my money, my account, they are charging money from me just to authenticate that my balance amount is right.
We surely need crypto currencies, and do not need anyone else's validation to proof that we have our own money. More and More Power to BitCoin.
What steps I am taking to make people aware of the power of bitcoin, and cryptos?
- Helping them buy their first Bitcoins
- Making the understand the power of bitcoin hash power.
December 14, 2019, 10:07:39 AM
I do not know much about other countries but in India banks are charging money for everything.Be it using ATM, taking stamped statement or any personal service taken for your account. I have experienced the pain of being over charged for getting money from abroad and it used to take 3-4 days to get money into my account. Now with the help of blockchain I can get the money from anywhere in the world within no time and that too at very cheap rates. I support Bitcoin for all.
December 14, 2019, 02:07:03 AM
We all went through scenarios that OP underwent but that doesn't mean all banks are bad and the whole banking system is a fraud. I got my bank statement free of cost and instantly when I applied for a Thailand visa last year. Don't feel cheated, please write a complain to RBI and tell them about this issue. I am sure something good will come out.
December 14, 2019, 01:56:40 AM
I agree with some opinions that say even though the bank has expensive administrative costs. we still need a bank and can not be separated from the bank. we will require the bank to be able to change bitoin us into a fiat currency or vice versa. and now the good news is that some banks have adopted blockchain in their systems. hopefully by adopting the blockchain the administrative and transaction costs at the bank will be cheaper.
Upon the invention of technology and the blockchain, I do really see how the banks reacts with this. Basically, the first thing is that the government will not show the support to cryptocurrency and sometimes they block it to their country for people to still utilize the banks. But this is in fact has a deeper reason why. We are living in a country where we need regulation to make our economy developed. The centralization of our money in banks do greatly a big part to help us have infrastructures where we could benefit from, and the only problem is the how we could incorporate the cryptocurrency. Because in the first place, they will not ban crypto if they didn't see threats on it. So, if we are to show them how to use crypto, and they develop a good understanding of it, then we could be our own bank supported by them as well. And the banks that we have right now could find their way on how to still operate despite of the innovation.
December 14, 2019, 12:47:36 AM
I agree with some opinions that say even though the bank has expensive administrative costs. we still need a bank and can not be separated from the bank. we will require the bank to be able to change bitoin us into a fiat currency or vice versa. and now the good news is that some banks have adopted blockchain in their systems. hopefully by adopting the blockchain the administrative and transaction costs at the bank will be cheaper.
December 13, 2019, 06:06:07 PM
yes I think banks are always like that. the bank always has a reason to be able to take our money with administrative fees, monthly fees and others. but I know that not all banks like this, there are some banks that are quite friendly with customers and the costs that must be incurred by customers for administration are quite low. therefore I strongly support cryptocurrency with blockchain technology will make transaction costs cheaper and no need to use a third party like a bank. and I will continue to strive to introduce cryptocurrency to relatives and friends. so that more and more people are supporting cryptocurrrency.
almost all banks have the same way of working, they benefit from their customers by charging administrative fees every month. but I think even so, the role of banks is certainly still very much needed by everyone, although now there is modern technology in the form of cryptocurrency that is able to facilitate its users to conduct all transactions at a fairly low cost, everyone certainly needs a central bank to convert their digital money in the form of currency used because most countries cannot fully legalize cryptocurrency as a means of payment or other needs.
No banks are not needed. You don't need a bank to use crypto to pay for something so what are you talking about? The only reason you would convert to fiat is because of the bank in the first place. IF banks didn't exist either would fiat. It's pretty obvious to me. They just here to make money and put people into debt. Offering loans to people who really can't afford it and they do it with a smile on their face since they know they will be getting anywhere from 11%-24% interest per year from you. That is a whole lot of money for doing a whole lot of nothing. The money they loan you they just get from other deposits. They printing money those guys.
December 13, 2019, 12:53:01 PM
In terms of being your own bank. It is not sufficient that you just have your own private keys stored somewhere on the internet. In cryptocurrency, there are also problems occurring similar to banks where people can have their money stolen. For you to secure your funds, an offline wallet is a must especially if you are to store thousand dollars worth of cryptocurrency. This article can help you in choosing which hardware wallet suits you and we'll help you up to set up your own bank.
Indeed, web wallets aren't that secure to save on them a few thousand dollars! I mean it will be better if you got a hardware wallet and you save your bitcoin into it. I really recommend them because you're just storing your bitcoin offline and no one can hack it unless if the hacker hack you physically, but if he even do that I don't think he's gonna steal your bitcoins. Ledger Nano is one of the good bitcoin hardware wallet and it's really good I guess. December 13, 2019, 12:37:31 PM
yes I think banks are always like that. the bank always has a reason to be able to take our money with administrative fees, monthly fees and others. but I know that not all banks like this, there are some banks that are quite friendly with customers and the costs that must be incurred by customers for administration are quite low. therefore I strongly support cryptocurrency with blockchain technology will make transaction costs cheaper and no need to use a third party like a bank. and I will continue to strive to introduce cryptocurrency to relatives and friends. so that more and more people are supporting cryptocurrrency.
almost all banks have the same way of working, they benefit from their customers by charging administrative fees every month. but I think even so, the role of banks is certainly still very much needed by everyone, although now there is modern technology in the form of cryptocurrency that is able to facilitate its users to conduct all transactions at a fairly low cost, everyone certainly needs a central bank to convert their digital money in the form of currency used because most countries cannot fully legalize cryptocurrency as a means of payment or other needs.
No banks are not needed. You don't need a bank to use crypto to pay for something so what are you talking about? The only reason you would convert to fiat is because of the bank in the first place. IF banks didn't exist either would fiat. It's pretty obvious to me. They just here to make money and put people into debt. Offering loans to people who really can't afford it and they do it with a smile on their face since they know they will be getting anywhere from 11%-24% interest per year from you. That is a whole lot of money for doing a whole lot of nothing. The money they loan you they just get from other deposits. They printing money those guys.
December 13, 2019, 02:10:13 AM
yes I think banks are always like that. the bank always has a reason to be able to take our money with administrative fees, monthly fees and others. but I know that not all banks like this, there are some banks that are quite friendly with customers and the costs that must be incurred by customers for administration are quite low. therefore I strongly support cryptocurrency with blockchain technology will make transaction costs cheaper and no need to use a third party like a bank. and I will continue to strive to introduce cryptocurrency to relatives and friends. so that more and more people are supporting cryptocurrrency.
almost all banks have the same way of working, they benefit from their customers by charging administrative fees every month. but I think even so, the role of banks is certainly still very much needed by everyone, although now there is modern technology in the form of cryptocurrency that is able to facilitate its users to conduct all transactions at a fairly low cost, everyone certainly needs a central bank to convert their digital money in the form of currency used because most countries cannot fully legalize cryptocurrency as a means of payment or other needs.
December 12, 2019, 10:46:42 PM
We surely need crypto currencies, and do not need anyone else's validation to proof that we have our own money. More and More Power to BitCoin.
What steps I am taking to make people aware of the power of bitcoin, and cryptos?
even how hard we try mate still this is every individuals stands on how to treat bitcoin,remember that before you have this thoughts you need to experience difficulties first right?that motivates you to have this position. - Helping them buy their first Bitcoins
- Making the understand the power of bitcoin hash power.
December 12, 2019, 10:28:44 PM
yes I think banks are always like that. the bank always has a reason to be able to take our money with administrative fees, monthly fees and others. but I know that not all banks like this, there are some banks that are quite friendly with customers and the costs that must be incurred by customers for administration are quite low. therefore I strongly support cryptocurrency with blockchain technology will make transaction costs cheaper and no need to use a third party like a bank. and I will continue to strive to introduce cryptocurrency to relatives and friends. so that more and more people are supporting cryptocurrrency.
almost all banks have the same way of working, they benefit from their customers by charging administrative fees every month. but I think even so, the role of banks is certainly still very much needed by everyone, although now there is modern technology in the form of cryptocurrency that is able to facilitate its users to conduct all transactions at a fairly low cost, everyone certainly needs a central bank to convert their digital money in the form of currency used because most countries cannot fully legalize cryptocurrency as a means of payment or other needs.
December 07, 2019, 03:23:35 AM
yes I think banks are always like that. the bank always has a reason to be able to take our money with administrative fees, monthly fees and others. but I know that not all banks like this, there are some banks that are quite friendly with customers and the costs that must be incurred by customers for administration are quite low. therefore I strongly support cryptocurrency with blockchain technology will make transaction costs cheaper and no need to use a third party like a bank. and I will continue to strive to introduce cryptocurrency to relatives and friends. so that more and more people are supporting cryptocurrrency.
almost all banks have the same way of working, they benefit from their customers by charging administrative fees every month. but I think even so, the role of banks is certainly still very much needed by everyone, although now there is modern technology in the form of cryptocurrency that is able to facilitate its users to conduct all transactions at a fairly low cost, everyone certainly needs a central bank to convert their digital money in the form of currency used because most countries cannot fully legalize cryptocurrency as a means of payment or other needs.
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