What's it like to live on crypto instead of Banks? - page 19.

playboy654

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Quote from: dothebeats on January 24, 2019, 03:23:44 PM

Perhaps it'll be fast-paced society wherein almost everything is completely digital, with no one oppressing the masses from their own financial freedom and everyone is capable of doing their own thing without having to think of what the next paycheck would get them to. People would then be more creative knowing that the pressure wouldn't be on their shoulders and they can do anything to their heart's delight. But then these are all just assumptions, and we will never know what is in store for each of us.

I trust cryptocurrency are most useful one and comparing two banks and cryptocurrency gives a lots of profit but when comes to bank there is the limitation for anything that you want to do in your account that's why people will turn into cryptocurrency sharing and it will be more safer and profitable also.

dothebeats

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Perhaps it'll be fast-paced society wherein almost everything is completely digital, with no one oppressing the masses from their own financial freedom and everyone is capable of doing their own thing without having to think of what the next paycheck would get them to. People would then be more creative knowing that the pressure wouldn't be on their shoulders and they can do anything to their heart's delight. But then these are all just assumptions, and we will never know what is in store for each of us.

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This is yet but a dream, cryptocurrency is nor yet robust enough to become the global currency and support all forms of transactions.
A few more years down the line, bitcoin would be in a better position to truly disrupt the financial system.

kryptqnick

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Quote from: Abiky on January 23, 2019, 07:11:32 PM

Imagine living your life without depending on Banks ever again. Using only cryptocurrencies such as Bitcoin or Ethereum, you can make your own income stream and use the coins earned to buy stuff from merchants who accept them. Every day, cryptocurrencies have been going closer towards full mainstream adoption. However, there are still some things which prevent crypto from being used over traditional payment systems we've been accustomed to for a long time.

Nonetheless, what's it like to live only on crypto instead central-bank issued fiat money? Cheesy

I don't think much would change, really, if we look at how countries are regulating cryptocurrencies. Okay, say there are no banks anymore. But we are still used to storing our money in wallets, provided by centralized companies. And we'd probably use more paying apps in supermarkets to use our coins. Moreover, we will probably have to pay taxes (in some countries it will be VAT and income tax, which is okay, while others will have capital gains taxes as well). It would be better, safer and more decentralized, but the governments will still have control over money in many aspects.

Bitlocker_A

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At the moment, it's just a utopia that sounds good. But much more needs to be overcome before the crypt becomes part of everyday life. I think you should understand this.

eternalgloom

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I actually have some experience with this. I've been living mostly of off crypto for 3 - 4 years now.
It's surprisingly easy, as long as you also have a Bitcoin debit card.

Look, having a Bitcoin debit card might kinda defeat the purpose of "living on cryptocurrency", but for me there's no way around it.
It allows me to keep my lifestyle just about the same as when I only use fiat exclusively.

I do try to pay for most of my purchases with Bitcoin directly, but to pay for everything with Bitcoin just isn't possible atm.

On another note, I do hope that I can eventually pay most of my bills with Bitcoin, but I don't see that happening any time soon.

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Quote from: Abiky on January 23, 2019, 07:11:32 PM

Imagine living your life without depending on Banks ever again. Using only cryptocurrencies such as Bitcoin or Ethereum, you can make your own income stream and use the coins earned to buy stuff from merchants who accept them. Every day, cryptocurrencies have been going closer towards full mainstream adoption. However, there are still some things which prevent crypto from being used over traditional payment systems we've been accustomed to for a long time.

Nonetheless, what's it like to live only on crypto instead central-bank issued fiat money? Cheesy

just imagining that, I might like losing all the facilities and conveniences that we can get at the Bank, most of which are transfers and withdrawal of money. If we use crypto it might be difficult because not every place will be able to support, not to mention the necessity of the internet network and only a few partnership's merchants

ShadowBits

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Quote from: Abiky on January 23, 2019, 07:11:32 PM

Imagine living your life without depending on Banks ever again. Using only cryptocurrencies such as Bitcoin or Ethereum, you can make your own income stream and use the coins earned to buy stuff from merchants who accept them. Every day, cryptocurrencies have been going closer towards full mainstream adoption. However, there are still some things which prevent crypto from being used over traditional payment systems we've been accustomed to for a long time.

Nonetheless, what's it like to live only on crypto instead central-bank issued fiat money? Cheesy

The world for now need our banks. Living in crypto like this is a horror since we are in the bear market. So a lot of people has still love banks because of it.

eaLiTy

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It is a good thought but how will you survive with only cryptos since this is just the starting phase, one will not be able to buy all the things with cryptocurrencies alone as there are things like groceries and for days to meet one need to have fiat currency in hand, may be in future every market will have POS machines to accept crypto with a lower transaction fee, for fund transfers all around the world the use of cryptos is a good go than the traditional use of banks. Even if a person has cryptos he need to have a bank account linked to crypto exchanges to convert to cash.

shield132

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Man, I want to say again, that depends on country too. There are still some good countries where people don't use banks often, some of them get money in cash, without accesing to banks ever. Some people are self-employed and don't pay tax for this reason, still everything depends on where you live. If you depend on banks, then that's it. I have no idea why to ignore them. It will be a headache to search bitcoin accepted shops and etc for nothing, at least as for now. Is there anyone who already lives only with crypto and don't even touch to banks? I think no and if anyone says yes, then he/she lies.

Lucius

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Banks exist for a long time and people are used to using them on a daily basis. To receive salary you need account in bank, or when you need a loan you will go to bank, so it is hard to switch only to crypto. Although some people are trying to push crypto more, there are too many obstacles on that path.

Crypto is just too volatile and not clear enough to most people in this world, most of them experience it as some internet ponzy/scam thing where few rich become even richer running pump&dump schemes.

To live only on cryptocurrency in a literal sense is an impossible mission, considering buying food, paying bills, taxes and similar. But using crypto online for buying digital goods is very popular and available almost everywhere in the world. With more and more understanding of how this technology works, and with Lightning Network becomes more and more present in daily transactions, in next 5-10 years paying with BTC will become more and more accepted.

raidarksword

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That's the main reason why crypto currency was created like bitcoin in order to give a full freedom on our financial assets without depending on banks ever again. It's just astonishing that bitcoin have come this far with so much accomplishments already achieved and community adaptations are still going strong.

minatour

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I once imagined that this really happened, but I immediately realized.
it can't be true, related to the many rejections of cryptocurrencies in several countries.

Naida_BR

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Quote from: Abiky on January 23, 2019, 07:11:32 PM

Imagine living your life without depending on Banks ever again. Using only cryptocurrencies such as Bitcoin or Ethereum, you can make your own income stream and use the coins earned to buy stuff from merchants who accept them. Every day, cryptocurrencies have been going closer towards full mainstream adoption. However, there are still some things which prevent crypto from being used over traditional payment systems we've been accustomed to for a long time.

Nonetheless, what's it like to live only on crypto instead central-bank issued fiat money? Cheesy

There are many positive aspects that I can point out to live only on crypto. The major one is that cryptocurrency markets are 24/7 365 days open, instead of banks that they close on weekends and holidays. This market is always available to the crowd and this is what can promote the economic freedom of our society.

entebah

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Quote from: kolesozw on January 23, 2019, 07:39:18 PM

Quote from: Abiky on January 23, 2019, 07:11:32 PM

Imagine living your life without depending on Banks ever again. Using only cryptocurrencies such as Bitcoin or Ethereum, you can make your own income stream and use the coins earned to buy stuff from merchants who accept them. Every day, cryptocurrencies have been going closer towards full mainstream adoption. However, there are still some things which prevent crypto from being used over traditional payment systems we've been accustomed to for a long time.

Nonetheless, what's it like to live only on crypto instead central-bank issued fiat money? Cheesy

It would be good, yet still nothing more than a dream. I still need to convert Bitcoin or Ether to fiat on a daily basis with my Wirex or Fedor cards to cover my expenses and pay everywhere.
People doesn't changes and this is the main reason why crypto will not be widely adopted in next 5-10 years. Like it or not, we will depend on exchanges, not necessary banks.

Yes, it's very fun to live with Crypto, there are always many surprises that come, because prices always go up and down quickly. So I used the situation to make a profit. But what you say is true, that every day I always exchange Crypto with Fiat money for my daily needs.

kolesozw

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Quote from: Abiky on January 23, 2019, 07:11:32 PM

Imagine living your life without depending on Banks ever again. Using only cryptocurrencies such as Bitcoin or Ethereum, you can make your own income stream and use the coins earned to buy stuff from merchants who accept them. Every day, cryptocurrencies have been going closer towards full mainstream adoption. However, there are still some things which prevent crypto from being used over traditional payment systems we've been accustomed to for a long time.

Nonetheless, what's it like to live only on crypto instead central-bank issued fiat money? Cheesy

It would be good, yet still nothing more than a dream. I still need to convert Bitcoin or Ether to fiat on a daily basis with my Wirex or Fedor cards to cover my expenses and pay everywhere.
People doesn't changes and this is the main reason why crypto will not be widely adopted in next 5-10 years. Like it or not, we will depend on exchanges, not necessary banks.

Abiky

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Imagine living your life without depending on Banks ever again. Using only cryptocurrencies such as Bitcoin or Ethereum, you can make your own income stream and use the coins earned to buy stuff from merchants who accept them. Every day, cryptocurrencies have been going closer towards full mainstream adoption. However, there are still some things which prevent crypto from being used over traditional payment systems we've been accustomed to for a long time.

Nonetheless, what's it like to live only on crypto instead central-bank issued fiat money? Cheesy

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