Bitcoin itself is relatively trustworthy. After realizing its value and accepting this new system, Bitcoin has more revenue opportunities. It can also provide services and store data.
I believe that Bitcoin is the future development trend, and it still has a long way to go before the global adaptation.
Topic: Who to Trust, Fiat Banks or BTC? - page 5. (Read 2207 times)
In fact, people will believe all the currencies that are measured in dollars. Because Bitcoin is measured directly in dollars. You can even reserve your money in the bank as a dollar or fiat. You have to calculate your assets in Fiat currency. So bitcoin not Fiat is the main sign of your wealth.
This is true and if we do really think of on where bitcoin do really get its value then its on fiat itself which means people would still end up on using fiat in the end of the day.Bitcoin turns out to be store of value on where most people been thinking of this way and when it comes to trust then we do trust up bitcoin but people would normally be going
back to conversion to fiat since bitcoin isnt still a main currency where you can spend and use it everywhere.So its normal that people would still stick out to fiat.
That shows how powerful the dollar actually is. Whatever you would use to buy something, the seller would check what the value in USD is for whatever you use for payment. It's a remarkable position the United States is in due to the fact that there currency is the world or reserve currency.
why choose, aren't bitcoin and fiat as important as fiat is important for daily transactions and bitcoin is more precisely used as an asset for the future so in my opinion to choose between bitcoin and fiat depends on the holder whether to invest or to spend for basic needs.
In fact, people will believe all the currencies that are measured in dollars. Because Bitcoin is measured directly in dollars. You can even reserve your money in the bank as a dollar or fiat. You have to calculate your assets in Fiat currency. So bitcoin not Fiat is the main sign of your wealth.
This is true and if we do really think of on where bitcoin do really get its value then its on fiat itself which means people would still end up on using fiat in the end of the day.Bitcoin turns out to be store of value on where most people been thinking of this way and when it comes to trust then we do trust up bitcoin but people would normally be going
back to conversion to fiat since bitcoin isnt still a main currency where you can spend and use it everywhere.So its normal that people would still stick out to fiat.
In fact, people will believe all the currencies that are measured in dollars. Because Bitcoin is measured directly in dollars. You can even reserve your money in the bank as a dollar or fiat. You have to calculate your assets in Fiat currency. So bitcoin not Fiat is the main sign of your wealth.
Trust what? A currency? Which one? The one who is under the government's control or the one who was 60K yesterday and is 30K today. You can't trust any currency that's valued in USD. If you trust Bitcoin, then it automatically means that you trust USD/fiat because bitocoin's value is determined in USD and every time you have to pay for something, you always pay the BTC amount equal of a certain USD.
I would just say that Bitcoin or most of the cryptocurrencies are just safer alternative to store money in case there is something wrong happening around you. Government, etc, can seize your bank's account and your home but they can't seize the Bitcoins that you have stored in online or offline wallet, somewhere.
I would just say that Bitcoin or most of the cryptocurrencies are just safer alternative to store money in case there is something wrong happening around you. Government, etc, can seize your bank's account and your home but they can't seize the Bitcoins that you have stored in online or offline wallet, somewhere.
Crash? I dont think so because this is a thing that we've been using since ages and there's no way that it would be replaced that easily just because a new payment system had surfaced?
~snip~
It took a long time, to be able to make Crypto the money of the future. In addition, a worldwide agreement is needed if the legalization is carried out. Basically because its value is not fixed and it prevents it from becoming a means of payment, because at some point it can harm the recipient. Fiat banknotes will remain a favorite today. This is because they are legal and legal. In addition, traditional communities are still very much using paper money or coins. So Fiat will not be destroyed as long as crypto has not become a legal tender in the world. ~snip~
At the moment I have to trust the bank. Because within the scope of the law, it protects the safety of my funds. But I don’t believe it completely. I turned part of my assets into Bitcoin. I can switch freely when my friends need funds without being regulated by the country and bank regulations.
because both have their own advantages and disadvantages, because basically I think both have their own benefits and are very beneficial both in daily life and in the future.because fiat still dominates in social life so like it or not we have to follow so as not to be clumsy in real life, on the other hand bitcoin is one of the investment tools for a bright future that we can take advantage of from now on
Banks started out similarly. It was not like they were the safest place to store your money right from the beginning. There was accounting fraud in the early days and even today. There was forgery and theft and so on. Over time they developed into a safe place with supervision from yet another institution, namely auditing. Bitcoin will need development on many fronts, and in particular when it comes to wallet practicability and security. Give it some time and we will see more and more people feel comfortable enough to take the risk that then might still be left.
At the moment I have to trust the bank. Because within the scope of the law, it protects the safety of my funds. But I don’t believe it completely. I turned part of my assets into Bitcoin. I can switch freely when my friends need funds without being regulated by the country and bank regulations.
because both have their own advantages and disadvantages, because basically I think both have their own benefits and are very beneficial both in daily life and in the future.because fiat still dominates in social life so like it or not we have to follow so as not to be clumsy in real life, on the other hand bitcoin is one of the investment tools for a bright future that we can take advantage of from now on
I believe banks to be the primary infrastructure development platform for all forms of financial services. Maybe there is flaws, but they've made the financial system operate in a way to make things easier. Even before the existence of banks people are well aware of savings, transaction and exchange, but the banking process made things in an organised manner. This has made me believe on banking for some extent.
Why one should trust BTC?
It is an advancement to the bank. People are independent and when we think of financial freedom we aren't in such a level. This can be achieved through the usage of Bitcoin. For this reason and the same being limited in number makes a demand for it and avoid the inflation. This makes me trust completely on bitcoin even though it is much of a risk asset.
Why one should trust BTC?
It is an advancement to the bank. People are independent and when we think of financial freedom we aren't in such a level. This can be achieved through the usage of Bitcoin. For this reason and the same being limited in number makes a demand for it and avoid the inflation. This makes me trust completely on bitcoin even though it is much of a risk asset.
That's correct, but they have also set up the infrastructure in a way such that they are benefitting from whatever you do with your bank account while they don't have any extra work no matter the number of transactions or actions you do. This changed a good bit since more regulatory requirements were introduced due to crises. They pay a lot for regulatory and legal expertise, but it is still the same that they didn't really innovate for decades yet prices for customers are increasing constantly.
In the trust case both are safe according to me. Look as a bitcoinre and according to my research it is most potential assets ever world seen. And in this case it has most trust worthy in crypto world. So we can trust it easily and we can say blindly. And now bank well we don't have to say how much needed the bank is. If we need a security of money, if we don't need any tax issue then bank is must needed. And for our money safty and transaction safty bank has no alternative. So in that case both are safe from their own position or own side.
I still trust the bank but not completely. Banks are still a necessary liquidity, we need some to maintain, some cash to operate and defend during the pandemic. Of course, I made a big withdrawal to invest in bitcoin & crypto. My trust level in the bank has decreased greatly during the current covid situation.
Banks will be at risk in the event that short-term interest rates increase, major shareholders decline with long-term goals, which will raise the alarm level. Over time, it will be gradually eroded into the original fund, look at the situation caused by Covid 19, banks are overloaded in finding solutions to balance "short interest", early maturity also causes passivity. . I have no reason to believe that at this stage banks can no longer be trusted and bitcoin is the side of choice. and I predict, in the next 10 years, banks will fail one by one for all the major conditions right now.
Still banks hold regulatory guidelines for each sovereign money that are circulated. There will be drafts as to how crypto and fiat work together because cash right now is expensive to make specially coins being minted where its value is less than its raw material. By digitizing money government can save a lot to produce its medium of exchange.
There is only one advantage of fiat banks: liquidity (everybody accepts fiat money).
However, if cryptos had mass adoption, fiat banks would crash
Crash? I dont think so because this is a thing that we've been using since ages and there's no way that it would be replaced that easily just because a new payment system had surfaced?However, if cryptos had mass adoption, fiat banks would crash
Not everybody would really be dealing up nor agree about irreversible transactions which centralized things do able to do so but of course it would really be having its pro's and con's
which people should really think or mind about.About on trust matters then its up to you on which one you would trust on since this is a personal choice.,
I believe banks to be the primary infrastructure development platform for all forms of financial services. Maybe there is flaws, but they've made the financial system operate in a way to make things easier. Even before the existence of banks people are well aware of savings, transaction and exchange, but the banking process made things in an organised manner. This has made me believe on banking for some extent.
Why one should trust BTC?
It is an advancement to the bank. People are independent and when we think of financial freedom we aren't in such a level. This can be achieved through the usage of Bitcoin. For this reason and the same being limited in number makes a demand for it and avoid the inflation. This makes me trust completely on bitcoin even though it is much of a risk asset.
Crypto or BTC is for risk taker while bank is for those who just firmly want the same and safe money they deposited. They both have different purposes depending on how we use it. My bank now is only for emergency funds, while fiat for budgeting and BTC for investment and future plans. Why one should trust BTC?
It is an advancement to the bank. People are independent and when we think of financial freedom we aren't in such a level. This can be achieved through the usage of Bitcoin. For this reason and the same being limited in number makes a demand for it and avoid the inflation. This makes me trust completely on bitcoin even though it is much of a risk asset.
There is only one advantage of fiat banks: liquidity (everybody accepts fiat money).
However, if cryptos had mass adoption, fiat banks would crash
However, if cryptos had mass adoption, fiat banks would crash
I believe banks to be the primary infrastructure development platform for all forms of financial services. Maybe there is flaws, but they've made the financial system operate in a way to make things easier. Even before the existence of banks people are well aware of savings, transaction and exchange, but the banking process made things in an organised manner. This has made me believe on banking for some extent.
Why one should trust BTC?
It is an advancement to the bank. People are independent and when we think of financial freedom we aren't in such a level. This can be achieved through the usage of Bitcoin. For this reason and the same being limited in number makes a demand for it and avoid the inflation. This makes me trust completely on bitcoin even though it is much of a risk asset.
Why one should trust BTC?
It is an advancement to the bank. People are independent and when we think of financial freedom we aren't in such a level. This can be achieved through the usage of Bitcoin. For this reason and the same being limited in number makes a demand for it and avoid the inflation. This makes me trust completely on bitcoin even though it is much of a risk asset.
I only trust the bank with only my money, without my data. In my country there are lots of banks trading someone's data for the benefit of the bank. so this is really against the rules but the government is silent and can't control it further
Which country are you living dude?
I think that's a serious problem and people will have no confidence in the banks if they will trade their clients' personal data. Banking is a business of trust, that includes protecting your client information as it's on the bank secrecy law, only the bank knows your information so you will be safe. If they trade information, then they should not operate, and you had already said that it's against the rules and the government cannot be silent about it.
Our government's job is to implement the law, if they can't then our government is corrupt.
I agree with that! that's a bad practice sharing information since it's part of client security. Not good for someone to entrust their money from such kind of practices. Better not to store anything or keep your money on your own house than exposing your asset with other banks aside from the one that you sign your participation.
Trusting fiat than any banks or if you can go deeper you can go and learn more about Bitcoin and enjoy your freedom.
I am sure banks do much more with our data than we think. I mean they already create complete profiles about their clients like consumer behavior, frequency of your purchases, places where you do your shopping etc. As far as I know in some countries that isn't even allowed, but if Facebook gets away with their scandals banks also know there is nothing to worry about even if they break laws.
I only trust the bank with only my money, without my data. In my country there are lots of banks trading someone's data for the benefit of the bank. so this is really against the rules but the government is silent and can't control it further
Which country are you living dude?
I think that's a serious problem and people will have no confidence in the banks if they will trade their clients' personal data. Banking is a business of trust, that includes protecting your client information as it's on the bank secrecy law, only the bank knows your information so you will be safe. If they trade information, then they should not operate, and you had already said that it's against the rules and the government cannot be silent about it.
Our government's job is to implement the law, if they can't then our government is corrupt.
I agree with that! that's a bad practice sharing information since it's part of client security. Not good for someone to entrust their money from such kind of practices. Better not to store anything or keep your money on your own house than exposing your asset with other banks aside from the one that you sign your participation.
Trusting fiat than any banks or if you can go deeper you can go and learn more about Bitcoin and enjoy your freedom.
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