Who to Trust, Fiat Banks or BTC? - page 6.

stadus

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Quote from: seramania on July 18, 2021, 06:33:54 PM

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.

dortheamangum

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@kingsden, it's an ever changing economic world my friend. We can trust anything for 100% or be certain of such fiat banks and BTC’s.

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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

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Quote from: nelson4lov on July 17, 2021, 03:59:04 PM

Quote from: Hamphser on July 17, 2021, 03:36:40 PM

You can trust both!

You dont need to choose since both things can really be possibly for you to engage on without needing to focus because you do really need both specially fiat.

Even if we do hate up centralization but still we are heavily dependent in fiat and other centralized institutions and we cant really deny such thing.

Dont focus on one because even how hard you do believe on crypto, fiat would still remain no matter what.

Fiat is a necessary evil because of the fact that Bitcoin's adoption rate hasn't reached the level that fiat has attained. But I'm definitely sure that when bitcoin is accepted at most online and offline merchant stores then fiat relevance would drop significantly and even start to become less used. If there one thing fiat is good at, it's the adoption level and until bitcoin reaches such level, we would still have to make do with fiat and traditional banking systems even though its proven that they shouldn't be used further or trusted. Like I said, it's a necessary evil. We don't like it but there's no choice.

For that to happen Bitcoin would need quite an extremely level of price stability. The stores accepting Bitcoin these days still go through a fiat conversion channel immediately, which the translates into fiat not losing quite the relevance.The only way is stable cryptos, but they must be pegged to something as well. What banks can't do is rob you off with hidden fees or (even illegal) interest rates on credit cards and so on.

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Quote from: Jazzi Mahesh on July 18, 2021, 01:07:56 PM

Bitcoin fairs better than gold as well as the fiat currency in this regard. Bitcoin is also considered to be more portable, durable, safe, divisible, and smart than gold and fiat currency.

That's what we thought, but most people out there, think the opposite.

If we invest in crypto, it's considered a high-risk investment, but if we invest in gold, they will stay it's a safe investment as gold is proven over a number of years to be a stable investment and it will not devalue.

Jazzi Mahesh

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Bitcoin fairs better than gold as well as the fiat currency in this regard. Bitcoin is also considered to be more portable, durable, safe, divisible, and smart than gold and fiat currency.

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Quote from: amihada on July 18, 2021, 11:56:39 AM

I also do the same thing as you I'm looking for coins for me to exchange into fiat I'm sure everyone who joins bounty hunter sinature or their social media is also doing the same thing looking for money by exchanging their coins.

It's what it is.

Everyone who has earned a token has to exchange that for fiat to be used actually. But there are other bounty hunters that don't exchange it in fiat.

Instead, they exchange it in btc for more holdings.

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Quote from: awik p on July 18, 2021, 09:24:41 AM

Quote from: molsewid on July 18, 2021, 08:58:14 AM

Quote from: uneng on July 17, 2021, 09:02:23 PM

I think we shouldn't trust 100% in any, because all of them are out of our control. We, as individuals, aren't the ones who control bitcoin price fluctuations, manipulate fiat politics or manage the banks, so it's better to invest personal patrimony in another places, like real state and lands. These are totally under your control, with the exception of the case your country becomes a socialist one, confiscating everyone's goods. Cheesy

Anyway that is very unlikely to happen.

You have a point mate fiat banks or BTC is out of our control but all we have in control is how we manage the risks by deciding on putting any amount of investment either way. But if we were going to differentiate betwwleen the two both have a benefits to everyone. In my case I just don't put 100% trust izn fiat banks but I'd still have to deal with the fiat banks for a transaction and at the same time I'd still need to transfer my crypto asset into fiat to avail products.

right, both fiat and btc have their respective roles in my life. until now I'm looking for money from bitcoin and finally I transfer it to the bank to be used as fiat currency, that way I can diversify into other real businesses or I use it to make ends meet. this is because in my country bitcoin is prohibited as a means of payment, so it must be converted to fiat currency first

I also do the same thing as you I'm looking for coins for me to exchange into fiat I'm sure everyone who joins bounty hunter sinature or their social media is also doing the same thing looking for money by exchanging their coins.

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Quote from: molsewid on July 18, 2021, 08:58:14 AM

Quote from: uneng on July 17, 2021, 09:02:23 PM

I think we shouldn't trust 100% in any, because all of them are out of our control. We, as individuals, aren't the ones who control bitcoin price fluctuations, manipulate fiat politics or manage the banks, so it's better to invest personal patrimony in another places, like real state and lands. These are totally under your control, with the exception of the case your country becomes a socialist one, confiscating everyone's goods. Cheesy

Anyway that is very unlikely to happen.

You have a point mate fiat banks or BTC is out of our control but all we have in control is how we manage the risks by deciding on putting any amount of investment either way. But if we were going to differentiate betwwleen the two both have a benefits to everyone. In my case I just don't put 100% trust izn fiat banks but I'd still have to deal with the fiat banks for a transaction and at the same time I'd still need to transfer my crypto asset into fiat to avail products.

right, both fiat and btc have their respective roles in my life. until now I'm looking for money from bitcoin and finally I transfer it to the bank to be used as fiat currency, that way I can diversify into other real businesses or I use it to make ends meet. this is because in my country bitcoin is prohibited as a means of payment, so it must be converted to fiat currency first

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Quote from: uneng on July 17, 2021, 09:02:23 PM

I think we shouldn't trust 100% in any, because all of them are out of our control. We, as individuals, aren't the ones who control bitcoin price fluctuations, manipulate fiat politics or manage the banks, so it's better to invest personal patrimony in another places, like real state and lands. These are totally under your control, with the exception of the case your country becomes a socialist one, confiscating everyone's goods. Cheesy

Anyway that is very unlikely to happen.

You have a point mate fiat banks or BTC is out of our control but all we have in control is how we manage the risks by deciding on putting any amount of investment either way. But if we were going to differentiate between the two both have a benefits to everyone. In my case I just don't put 100% trust in fiat banks but I'd still have to deal with the fiat banks for a transaction and at the same time I'd still need to transfer my crypto asset into fiat to avail products.

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Quote from: nhaila on July 17, 2021, 05:13:06 PM

Quote from: zhelis74 on July 17, 2021, 05:04:11 PM

Quote from: Hamphser on July 17, 2021, 03:36:40 PM

You can trust both!

You dont need to choose since both things can really be possibly for you to engage on without needing to focus because you do really need both specially fiat.

Even if we do hate up centralization but still we are heavily dependent in fiat and other centralized institutions and we cant really deny such thing.

Dont focus on one because even how hard you do believe on crypto, fiat would still remain no matter what.

We think that fiat bank is more safe and reliable since it has centralize control but still its not 100% secure. Like for example we have a big holdings inside the bank and unluckily time comes that the bank declare bankruptcy then sadly we cant claim all the money we have on that bank. Unlike crypto that is decentaralized we have all the controls and mostly has bigger chances to gain more profit on our long term holdings.

Sometimes banks declared bankruptcy with notice and some people can't take money with having a lots of Fiat In Bank but cryptocurrencies fully control on mine and anytime we can withdraw our assets with huge amounts of profits if we hold cryptocurrency for longer periods.

In my place, I rarely find banks going bankrupt, but I don't know where you are. Personally, I believe in both fiat and btc, but for long-term investments I believe in btc for fiat, I only save for daily savings.

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I think we shouldn't trust 100% in any, because all of them are out of our control. We, as individuals, aren't the ones who control bitcoin price fluctuations, manipulate fiat politics or manage the banks, so it's better to invest personal patrimony in another places, like real state and lands. These are totally under your control, with the exception of the case your country becomes a socialist one, confiscating everyone's goods. Cheesy

Anyway that is very unlikely to happen.

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Quote from: zhelis74 on July 17, 2021, 05:04:11 PM

Quote from: Hamphser on July 17, 2021, 03:36:40 PM

You can trust both!

You dont need to choose since both things can really be possibly for you to engage on without needing to focus because you do really need both specially fiat.

Even if we do hate up centralization but still we are heavily dependent in fiat and other centralized institutions and we cant really deny such thing.

Dont focus on one because even how hard you do believe on crypto, fiat would still remain no matter what.

We think that fiat bank is more safe and reliable since it has centralize control but still its not 100% secure. Like for example we have a big holdings inside the bank and unluckily time comes that the bank declare bankruptcy then sadly we cant claim all the money we have on that bank. Unlike crypto that is decentaralized we have all the controls and mostly has bigger chances to gain more profit on our long term holdings.

Sometimes banks declared bankruptcy with notice and some people can't take money with having a lots of Fiat In Bank but cryptocurrencies fully control on mine and anytime we can withdraw our assets with huge amounts of profits if we hold cryptocurrency for longer periods.

zhelis74

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Quote from: Hamphser on July 17, 2021, 03:36:40 PM

You can trust both!

You dont need to choose since both things can really be possibly for you to engage on without needing to focus because you do really need both specially fiat.

Even if we do hate up centralization but still we are heavily dependent in fiat and other centralized institutions and we cant really deny such thing.

Dont focus on one because even how hard you do believe on crypto, fiat would still remain no matter what.

We think that fiat bank is more safe and reliable since it has centralize control but still its not 100% secure. Like for example we have a big holdings inside the bank and unluckily time comes that the bank declare bankruptcy then sadly we cant claim all the money we have on that bank. Unlike crypto that is decentaralized we have all the controls and mostly has bigger chances to gain more profit on our long term holdings.

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Quote from: Hamphser on July 17, 2021, 03:36:40 PM

You can trust both!

You dont need to choose since both things can really be possibly for you to engage on without needing to focus because you do really need both specially fiat.

Even if we do hate up centralization but still we are heavily dependent in fiat and other centralized institutions and we cant really deny such thing.

Dont focus on one because even how hard you do believe on crypto, fiat would still remain no matter what.

Fiat is a necessary evil because of the fact that Bitcoin's adoption rate hasn't reached the level that fiat has attained. But I'm definitely sure that when bitcoin is accepted at most online and offline merchant stores then fiat relevance would drop significantly and even start to become less used. If there one thing fiat is good at, it's the adoption level and until bitcoin reaches such level, we would still have to make do with fiat and traditional banking systems even though its proven that they shouldn't be used further or trusted. Like I said, it's a necessary evil. We don't like it but there's no choice.

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You can trust both!

You dont need to choose since both things can really be possibly for you to engage on without needing to focus because you do really need both specially fiat.

Even if we do hate up centralization but still we are heavily dependent in fiat and other centralized institutions and we cant really deny such thing.

Dont focus on one because even how hard you do believe on crypto, fiat would still remain no matter what.

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In my country it became normal for banks to steal money from customers and when the person goes to complain they can never explain what is going on and they cannot solve the problem and the situation gets worse when the person borrows money from the bank, the robberies start to run frequently, sometimes the bank withdraws the amount of the monthly installment twice in the same month, which is to pay the loan, but people have no other choice and use the banks because to receive salary it is necessary to have a bank account in my country. in short, banks are impoverishing people and making bank owners richer

Btcvilla

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I really believe in both of them because they both have very tight security, but for me I prefer to withdraw my money in the bank and invest it to buy bitcoin, especially now it has a relatively stable price, and we can control it every time. when it is different from the bank system, everyone will also say that both are equally good for us to save, but bitcoin is more inclined to investment

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Quote from: Malam90 on July 17, 2021, 09:52:28 AM

I trust banks in my country for saving my money there but it doesn't generate much profits like holding Bitcoin although Bitcoin is volatile but holding for long term don't deprived me in the last couple of years. Trust in Bitcoin is a risky in terms of profits/losses taking but holding cash in Bank will be more preferable than Bitcoin. I think both are separate part, one (Bitcoin) is for investment and another (Bank) is for life saving cash.

if you trust the bank in your country, that's your personal right, but if we keep our money in the bank, most likely we won't get anything, we can't make profit, but if we save in bitcoin, most likely in the future profit we will definitely get it, but there must be a risk, if you are afraid of risk you should not play in bitcoin, you just play hide and seek..

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For me perhaps banks is the most safest place than crypto currency because crypto is so volatile wherein there's a possibility that you will lose your money in it without knowing like for example if you just store it through crypto wallet for long time, yes there's a possibility as well you can multiply your money but it depends, what i mean not 100 percent sure if it will gonna happen or not as the market were getting unpredictable everytime when it experience a massive declined . unlike fiat banks that so stable wherein even you just hold for long term no worries and you're 100 percent sure that you still have a money to withdraw from it.

Topic: Who to Trust, Fiat Banks or BTC? - page 6. (Read 2207 times)