when a bank goes bankrupt and people can't withdraw their money it makes people very frustrated and angry that's why i better keep my money almost 80% in crypto and never put money in the bank worry if something like this happens
To keep money in Bitcoin is not far better than keeping money in Fiat currency because bitcoin due for a day when it for you to take time before it will recover so which you cannot control it rising and it falling again why keeping your money in the bank when bank 4 or when the bank got bankrupt if they come back you are sure of your money because is a centralised place that is officially known to a particular place 
Topic: Well! Bitcoin doesn't have this problem (Read 926 times)
If we want to withdraw our deposit or money from the bank, certain banks may not be all banks because they also have administration and methods that are too complicated. Before we may receive our own money, we must go through a number of stages. They are quite simple in the procedure, in sharp contrast to when we desire to keep our money in the bank. In actuality, there are many other reasons why Bitcoin is superior to banks. However, it's also likely that only a small number of institutions provide such a feature. In general, I find that some commercial banks offer a simpler way to go about things than do government banks. But in Oklahoma or other places, things can be different.
I know this for sure, I decided to switch to a digital bank just because of this, because they do not care where you are sending your money. Obviously there is a 100k limit, but I have never had that much money in my life before so it shouldn't be a problem, aside from that I could move money around anyway I want without a problem.Bitcoin came into my life before that, and I was having trouble with my bank and that is why I moved to bitcoin at first, because it gave me the freedom and it still gives me the same freedom internationally that no bank could give, there is nothing in the world similar to crypto when it comes to moving money around the world.
If we want to withdraw our deposit or money from the bank, certain banks may not be all banks because they also have administration and methods that are too complicated. Before we may receive our own money, we must go through a number of stages. They are quite simple in the procedure, in sharp contrast to when we desire to keep our money in the bank. In actuality, there are many other reasons why Bitcoin is superior to banks. However, it's also likely that only a small number of institutions provide such a feature. In general, I find that some commercial banks offer a simpler way to go about things than do government banks. But in Oklahoma or other places, things can be different.
So it's not a people problem anymore. Here we are talking about states' control, the country's currency, and illicit enrichment. That is when a person has never had a lot of money on the cards or has never changed a large number of dollars in his name. Then, the state is interested in how you get that kind of money. To understand how they are earned, fraud or not. From this point of view, cryptocurrency is very convenient because of its concept of anonymity and decentralization. You don't have to tell the IRS how you get your money.
For how long should people understand the importance to have bitcoins for emergencies such as this one?
Many people are still not aware of Bitcoin existence, thus banks are where they mainly save their money. But just like what happened to this woman, the risk of not able to withdraw your funds are always there because they're the ones who have full control of your money for being centralized. That's the risk that we have to take if we store our money to a centralized platforms. The point is, dont save all your money in banks, we cant be certain if our money is safe. Saving money through Bitcoin in a non-custodial wallet is much safer since you're the one who have full control over your funds.meaning we can only see the Bitcoin in our hands but to use it is difficult as the acceptance is depend in which country you live and from the community to are dealing,
so yes people may learn bitcoin and wanted to use but the function is not there so we cannot blame people from not totally dealing and keeping this as banks is always ready to be used and offers them.
The problem I see here is the part where the hospital or the one doing the services would have a hard time dealing with crypto because they might have to do some legal stuff in accounting to account for that. It will depend on the acceptance of BTC. If the hospital is willing to, I think it would be okay, or find someone willing to trade it for you locally.
But I think the lesson here is that if you controlled the actual wallet, she wouldn't have been in that situation; I think we should all agree on that.
I am sure that most of them do not know how to do it, but they could always end up learning about it or hiring someone who already knows about it. That way it would be simpler and it would make sense, I am not saying it is going to be something that would be a big deal, it is an easy thing to do, if all other places in the world starts accepting bitcoin, then hospitals would have a field of people who worked in crypto related accounting jobs here and there, and they can hire people who have done it before.But I think the lesson here is that if you controlled the actual wallet, she wouldn't have been in that situation; I think we should all agree on that.
I agree with the wallet deal though, crypto gives you the full power and nobody could take it away from you, it is your money and will always be your money.
~snip
The more such unpleasant incidents, when banks don't give back the money of their depositors, the more people realize that something should be changed in their financial life. If banks are acting so mean, then you should try alternative ways to store money, for example, bitcoin. Indeed, bitcoin doesn't have the problem described in your post and allows you to freely dispose of your money. On the positive side, bank abuses are becoming more and more publicized, and this is in favor of spreading bitcoin. Depositors will take their money (if they can and don't have to demand their return as the heroine of this story) and exchange it for bitcoin to become a bank for themselves. 
For how long should people understand the importance to have bitcoins for emergencies such as this one?
They found it once they change their mind and stop from thinking it was a scam and useless stuff. Because as long as they are in that negative mindset, nothing will be able to see but all of the negative views of Bitcoin. However, I'd see no reason why we have to urge people from adopting this new form of the payment system as it was the first for them to learn it and give value to this new creation. I have no clue what is really in their mind but for sure, the doubts and worries make them afraid to try. As I looking at some news today, I saw this one that has the same problem with the other banks all around the world where they sometimes restrict you to get your own money and they ask you for some valid reason which not all people needed to do because first of all, it is his/her money. Some people are forced to do this stuff when if only she had bitcoins, she wouldn't have put her life in danger or anyone else. she could just withdraw wherever she wants.
I remember something that can describe a bitcoin decentralized financial system better than a centralized financial system and that is that; bitcoin is a financial system that provides financial freedom as if the users had a bank in their own hands.The status of bitcoin itself is not yet a very emergency financial system to be adopted by everyone in any country. Banks and their centralized financial system still dominate the needs of the world's population and their services cannot be separated from the everyday user appeal of both small and large businesses. Bitcoin is a public currency that does not need a central authority. This currency and financial system is still in development to a wider level of adoption, but of course bitcoin can't be forced to be adopted by everyone who doesn't believe in it. Adoption is still at the minority level, but will increase when the regulation and legality are approved by the government.
Bitcoin is currently only constrained by regulatory problems. Each state government provides different regulations on how bitcoin is used. Even countries that prohibit bitcoin do not allow any transactions related to crypto or bitcoin. Adoption is currently only carried out by a few countries that do believe in bitcoin. Adoption has not expanded significantly because there are still many pros and cons.
The central government is still tied to the bank's financial system and everything is regulated by the bank. Bitcoin is only an optional asset that can be used or not depending on the choice. Bitcoin is in the minority, but even so the level of trust in bitcoin continues to grow and improve.
It's only a matter of time, Bitcoin can certainly be a good way out to improve the financial system of banks that are sometimes unfair and are more concerned with their profits.
The problem I see here is the part where the hospital or the one doing the services would have a hard time dealing with crypto because they might have to do some legal stuff in accounting to account for that. It will depend on the acceptance of BTC. If the hospital is willing to, I think it would be okay, or find someone willing to trade it for you locally.
But I think the lesson here is that if you controlled the actual wallet, she wouldn't have been in that situation; I think we should all agree on that.
Yes it was the path he took after many ways he did but as a result he was still struggling to get his money. But the steps he took endangered not only himself but many people.But I think the lesson here is that if you controlled the actual wallet, she wouldn't have been in that situation; I think we should all agree on that.
I understand and realize that there is a process that we must go through even if it is our own money. However, we must be annoyed when we have to go through a convoluted process in urgent circumstances.
As I looking at some news today, I saw this one that has the same problem with the other banks all around the world where they sometimes restrict you to get your own money and they ask you for some valid reason which not all people needed to do because first of all, it is his/her money. Some people are forced to do this stuff when if only she had bitcoins, she wouldn't have put her life in danger or anyone else. she could just withdraw wherever she wants.
I remember something that can describe a bitcoin decentralized financial system better than a centralized financial system and that is that; bitcoin is a financial system that provides financial freedom as if the users had a bank in their own hands.The status of bitcoin itself is not yet a very emergency financial system to be adopted by everyone in any country. Banks and their centralized financial system still dominate the needs of the world's population and their services cannot be separated from the everyday user appeal of both small and large businesses. Bitcoin is a public currency that does not need a central authority. This currency and financial system is still in development to a wider level of adoption, but of course bitcoin can't be forced to be adopted by everyone who doesn't believe in it. Adoption is still at the minority level, but will increase when the regulation and legality are approved by the government.
As I looking at some news today, I saw this one that has the same problem with the other banks all around the world where they sometimes restrict you to get your own money and they ask you for some valid reason which not all people needed to do because first of all, it is his/her money. Some people are forced to do this stuff when if only she had bitcoins, she wouldn't have put her life in danger or anyone else. she could just withdraw wherever she wants.
For how long should people understand the importance to have bitcoins for emergencies such as this one?
https://www.facebook.com/watch/?v=607786560854535
For how long should people understand the importance to have bitcoins for emergencies such as this one?
https://www.facebook.com/watch/?v=607786560854535
Quote
Depositor stands on a desk holding a gun inside one of Lebanon’s local banks as she demands the release of her money to pay for her sister’s cancer treatment.
Video from: marwanmatni
-Arab News
Video from: marwanmatni
-Arab News
First of all, the Fiat money is the property of central banks of their respective governments so its not your money. And banks has to follow such regulations because if everyone wants to withdraw their money from bank there will be actually no money for everyone to withdraw and the question raised is what actually make sense. Why we need to trust the paper issued by banks to have value and we have to follow lot of procedures to handle our money?
But as of sudden bitcoin can't change everything, first of all the payment infrastructure is needed then only we can pay by bitcoins or any other cryptos.
The deposit that we do in banks is a special type of deposit where the former has to respect their obligations. This is what we call a 'fiduciary relationship' where the banks must honor their obligation of giving back the money that you just deposited because that is your property. You trust the bank for safekeeping and the bank will have this obligation that they have to fulfill immediately.
That is the problem of banks- sometimes regulations from the main branches may halt your deposit for some reason. That is why BTC was created in order to experience financial freedom where no one has control over your money.
BTC is life changing if people can only understand that. There is no need for banks in our system. Decentralized is the key and BTC has that. Also it comes with freedom. I don't know why people still don't get this. They need to learn a lot.
It is not a question whether people don't understand Bitcoin and its life changing ability. Without taking anything away from Bitcoin and what it is, can you confirm that you did not or have not to spend some fiat from your Bank account buying some Bitcoin/Satoshis if you are HODLing BTC? regardless of how we want Bitcoin to be accepted by every sales shop in every location, that is not the case now and so are other sectors of the economy like the Hospital in question which has no option for Bitcoin payment, so we still have to resolve to using fiat/Banks. BTC is life changing if people can only understand that. There is no need for banks in our system. Decentralized is the key and BTC has that. Also it comes with freedom. I don't know why people still don't get this. They need to learn a lot.
It is not a question whether people don't understand Bitcoin and its life changing ability. Without taking anything away from Bitcoin and what it is, can you confirm that you did not or have not to spend some fiat from your Bank account buying some Bitcoin/Satoshis if you are HODLing BTC? regardless of how we want Bitcoin to be accepted by every sales shop in every location, that is not the case now and so are other sectors of the economy like the Hospital in question which has no option for Bitcoin payment, so we still have to resolve to using fiat/Banks. 
This isn't new, all centralized banks ask questions once you withdraw a big amount from fiat banks. Yes, of course, Bitcoin doesn't have this issue till you are holding. But you have to convert it in fiat anyway. Very rarely we can use Bitcoin directly for our daily needs. So here sadly we have to use the bank again to cash out our Bitcoin.
I have also faced many problem at those types of bank Where I had to stand in line for hours to withdraw cash and sometimes there was a delay in check issue. So now I hold most of my money in cryptocurrencies, when I need fiat currency, I withdraw by doing p2p trade directly at the bank with ATM, in this case, I keep some bitcoins in holding for long term trading and for its volatilities I have to hold in stable coins, and I also think it is much better than our conventional banking system.While banks have problems that annoy us, it would be unwise to put all your money in crypto. In addition to the volatility of crypto, when you hold assets in crypto, there are also risks such as being hacked by hackers and moreover bitcoin and apart from bitcoin, all other cryptocurrencies are mostly centralized and controlled by an organization or individual. Your assets can still be in jeopardy at any time, stablecoin is also centralized, it can be frozen due to mistake or suspicion related to money laundering...There is no safest place in the world, in this situation we just need to diversify our assets, don't put it all in the bank nor put it all in crypto.
The problem I see here is the part where the hospital or the one doing the services would have a hard time dealing with crypto because they might have to do some legal stuff in accounting to account for that. It will depend on the acceptance of BTC. If the hospital is willing to, I think it would be okay, or find someone willing to trade it for you locally.
But I think the lesson here is that if you controlled the actual wallet, she wouldn't have been in that situation; I think we should all agree on that.
But I think the lesson here is that if you controlled the actual wallet, she wouldn't have been in that situation; I think we should all agree on that.
You can save money in various ways that will serve as your backup and you can use it for withdrawals as well. Of which P2P will serve as one of the mediums and if you are a bank If you want to withdraw all the money, you can do the transaction through gift card.
But here Bitcoin is introduced instead of banks so that people can keep a small amount of money in the bank and all the remaining money will be invested in Bitcoins. However, there is no withdrawal if you buy bitcoins There will be no risk that you can take on your own.
But here Bitcoin is introduced instead of banks so that people can keep a small amount of money in the bank and all the remaining money will be invested in Bitcoins. However, there is no withdrawal if you buy bitcoins There will be no risk that you can take on your own.
Wishing a case like this keep increasing day by day , so people could looking for alternative and realized it is all in bitcoin , the benefit are there to grab .. you just need to learn by doing .
And by the proccess they would feel how good actually the bitcoin money system is , far better than the traditional money/ banking system that we are currently have.
I would do the same as her though to even shot a fire in such angry mood.
And by the proccess they would feel how good actually the bitcoin money system is , far better than the traditional money/ banking system that we are currently have.
I would do the same as her though to even shot a fire in such angry mood.
For how long should people understand the importance to have bitcoins for emergencies such as this one?
They found it once they change their mind and stop from thinking it was a scam and useless stuff. Because as long as they are in that negative mindset, nothing will be able to see but all of the negative views of Bitcoin. However, I'd see no reason why we have to urge people from adopting this new form of the payment system as it was the first for them to learn it and give value to this new creation. I have no clue what is really in their mind but for sure, the doubts and worries make them afraid to try. 
This isn't new, all centralized banks ask questions once you withdraw a big amount from fiat banks. Yes, of course, Bitcoin doesn't have this issue till you are holding. But you have to convert it in fiat anyway. Very rarely we can use Bitcoin directly for our daily needs. So here sadly we have to use the bank again to cash out our Bitcoin.
I have also faced many problem at those types of bank Where I had to stand in line for hours to withdraw cash and sometimes there was a delay in check issue. So now I hold most of my money in cryptocurrencies, when I need fiat currency, I withdraw by doing p2p trade directly at the bank with ATM, in this case, I keep some bitcoins in holding for long term trading and for its volatilities I have to hold in stable coins, and I also think it is much better than our conventional banking system. Jump to: