idk if I should bank or not, but if banks, our asset may be more trusted than in Bitcoin if sometimes it is hacked. but, in fact, in banks, there are also some accidents where the deposit money is lost after several years, and the mechanism to track it is very complicated. Moreover in banks, the interest of loans and other things related to banks are always like giving money to banks with our free money. They only want to get money from us, using our money to lend others and get money from others. And we? get nothing. I don't like banks, but unfortunately, I cannot be separated from banks.
About Bitcoin, I better choose Bitcoin, but of course, it may not be trusted 100% exactly moreover about the security system. hacked program or system may also happen and it is a bad thing.
Topic: Who to Trust, Fiat Banks or BTC? - page 8. (Read 2207 times)
None can be trusted 100%, both banks and BTC has weaknesses. However, we cannot deny using fiat banks because it is the only payment tool in my country. BTC is a good thing to invest money, but cannot be used as a payment tool in my country. Having BTC is also high risk, it may be called an illegal thing in my country someday. So, use both fiat banks and BTC, but don't rely on them or put all funds in one of them.
Bitcoin could be the future of finance, but might not be in my lifetime. We should use what is accessible by most to say that it is credible. Compared to Bitcoin; Banks are more open and mainstream. Even though Bitcoin has a great utility potential, Banks are still stapled for livelihood benefits.
Answer to the question, there is a huge probability of encountering a problem with banks compared to Bitcoin since we solely manage it.
Bitcoin is much more reliable as long as you know how to operate.
right now there are still many people who believe in fiat compared to bitcoin because in general now fiat transactions are easier in everyday life.Answer to the question, there is a huge probability of encountering a problem with banks compared to Bitcoin since we solely manage it.
Bitcoin is much more reliable as long as you know how to operate.
people who believe in bitcoin people who know more about bitcoin and they know bitcoin can be a very valuable asset in the future.
like heavily centralized and something like that and when Btc exist then this is where people do mind about decentralization which does actually have some benefits if you are really that
mindful about being private or cant be traced up when it comes to your finances but the thing since it isnt regulated or cant be controlled then it would just really remain
as an alternative which its up to someone neither they would be dealing with both things.Its a personal choice.
I used to trust banks but when they begun to steal from me with negative interest rates and growing card fees I changed my mind. Not to mention what happened in Cyprus.
At this point I hold 90% of my money in cryptocurrencies and I'm happy with the results of this decision. I chose to invest years ago and have not sold when we were at 3k, 6k, 10k... I don't mind price fluctuations that people are so scared of. Once you go through it you become immune.
At this point I hold 90% of my money in cryptocurrencies and I'm happy with the results of this decision. I chose to invest years ago and have not sold when we were at 3k, 6k, 10k... I don't mind price fluctuations that people are so scared of. Once you go through it you become immune.
I trust fiat banks because of their services made and in terms of fund security, they can protect it.
But for now that Bitcoin has come, it was interesting to know that your money can grow faster than keeping it in the bank.
Banks could just give us security while Bitcoin could give us more money. In this way, we need to be more practical as we are simply aiming for more profit rather than the banks make use of it and only give you a small share from their huge profit using our money.
Of course, we can't hide that Bitcoin investment is risky, well, I think it was still manageable on my end.
But for now that Bitcoin has come, it was interesting to know that your money can grow faster than keeping it in the bank.
Banks could just give us security while Bitcoin could give us more money. In this way, we need to be more practical as we are simply aiming for more profit rather than the banks make use of it and only give you a small share from their huge profit using our money.
Of course, we can't hide that Bitcoin investment is risky, well, I think it was still manageable on my end.
in this case I think there must be vigilance in both because it concerns the assets you have.
but if I choose I can't choose because I have assets in both because in my country fiat is still influential and whether we like it or not we have to follow the existing system, especially in buying a product.
but for my own fiat trust I am only in certain limits and not completely sure here.
as well as in btc because here we have to be really observant in looking at existing candles and charts because I am a trader. and here we must be required to be vigilant because there are so many cases of people losing their assets due to being cheated or hacked and so on and I am here to emphasize to everyone to always be vigilant in any case, be it fiat or btc
but if I choose I can't choose because I have assets in both because in my country fiat is still influential and whether we like it or not we have to follow the existing system, especially in buying a product.
but for my own fiat trust I am only in certain limits and not completely sure here.
as well as in btc because here we have to be really observant in looking at existing candles and charts because I am a trader. and here we must be required to be vigilant because there are so many cases of people losing their assets due to being cheated or hacked and so on and I am here to emphasize to everyone to always be vigilant in any case, be it fiat or btc
Obviously, people trust banks over BTC, we have a government and what the government makes is something they will make us trust, in short, if we trust the government, we should trust the fiat system as that reflects our economic situation. Bitcoin is a global currency but it could not be a countries currency if we want stability because we cannot handle the manipulation resulting in high volatility.
They believe banks are backed by governments and fiat currencies are backed by banks.They don't know that governments can print as many fiat currencies as possible and it is what we saw since the pandemic. Lock down, quarantines, financial crisis, unemployments, etc. all forced governments to release their QE and over printed more fiat.
Fiat currencies only have values if governments exist, not collapse and replace by new ones. Venezuela is good nation to use as example that how fast and how terrible fiat currency can lose its value, in a few months, or several years
Bitcoin is decentralized, finite and there will be more demand on Bitcoin. Price will rise more and it does not need banks, governments behind to grow more.
Bitcoin could be the future of finance, but might not be in my lifetime. We should use what is accessible by most to say that it is credible. Compared to Bitcoin; Banks are more open and mainstream. Even though Bitcoin has a great utility potential, Banks are still stapled for livelihood benefits.
Answer to the question, there is a huge probability of encountering a problem with banks compared to Bitcoin since we solely manage it.
Bitcoin is much more reliable as long as you know how to operate.
right now there are still many people who believe in fiat compared to bitcoin because in general now fiat transactions are easier in everyday life.Answer to the question, there is a huge probability of encountering a problem with banks compared to Bitcoin since we solely manage it.
Bitcoin is much more reliable as long as you know how to operate.
people who believe in bitcoin people who know more about bitcoin and they know bitcoin can be a very valuable asset in the future.
Obviously, people trust banks over BTC, we have a government and what the government makes is something they will make us trust, in short, if we trust the government, we should trust the fiat system as that reflects our economic situation. Bitcoin is a global currency but it could not be a countries currency if we want stability because we cannot handle the manipulation resulting in high volatility.
When you need to send money, you are bound to go your banking account even when you want to purchase cryptocurrency, so i trust bank to an extent but i do not trust them with my data and i have no idea what they will be doing with the data they are collecting as a hack in the banking network or a rogue employ can always have your data.
The difference with the Bitcoin market is as long as we trust the developers there is nothing much to worry.
To me the points raised are relevant and can relate. Banks are of course, important because BTC has not yet become a mainstream adopted currency. In the eyes of most governments BTC is not far from a scam and a dead challenge to the fiat system, and understandably these governments will take some time to decide how to categorise all these forms of digital fiat. The difference with the Bitcoin market is as long as we trust the developers there is nothing much to worry.
While BTC and crypto is starting to give people the power banks are still needed to mediate that fiat-digital fiat/crypto transition without which the latter will not be able to be so pervasive.
Crypto hadnt really reached that mainstream level yet for now and its just way too dumb on going all in or way too optimistic with it.You do still convert your crypto to fiat in the end of the day
Therefore i dont see the point on why some people are way just too overreacting but i cant really ignore the fact that blockchain tech or simply crypto is totally revolutionary.
When you need to send money, you are bound to go your banking account even when you want to purchase cryptocurrency, so i trust bank to an extent but i do not trust them with my data and i have no idea what they will be doing with the data they are collecting as a hack in the banking network or a rogue employ can always have your data.
The difference with the Bitcoin market is as long as we trust the developers there is nothing much to worry.
To me the points raised are relevant and can relate. Banks are of course, important because BTC has not yet become a mainstream adopted currency. In the eyes of most governments BTC is not far from a scam and a dead challenge to the fiat system, and understandably these governments will take some time to decide how to categorise all these forms of digital fiat. The difference with the Bitcoin market is as long as we trust the developers there is nothing much to worry.
While BTC and crypto is starting to give people the power banks are still needed to mediate that fiat-digital fiat/crypto transition without which the latter will not be able to be so pervasive.
For the bank itself, I might be neutral because I still keep my money there and believe it or not, fiat itself is still very applicable in social life (in my country) so like it or not we have to follow developments in social life so we don't get left behind. but this is only to a certain extent.
because I prefer to keep my money in bitcoin or altcoin and that's why I choose neutral and don't judge bad banks and so on.
I don't know others like me or not but in my country crypto is still very taboo and not familiar so fiat still dominates
because I prefer to keep my money in bitcoin or altcoin and that's why I choose neutral and don't judge bad banks and so on.
I don't know others like me or not but in my country crypto is still very taboo and not familiar so fiat still dominates
The issue of Trust is not only evident in relationships, it is applicable in our daily endeavours. People are more committed to system they trust than the one they don't trust. Even in this forum, you can easily do business with someone with a positive trust than one with a negative trust.
As the saying goes "wherever ones treasure is, there his soul is". So, in this article we would try to establish if ;
1. If people have fallen out of Trust with the Traditional banking system.
2. If people can trust BTC than banks.
As the saying goes "wherever ones treasure is, there his soul is". So, in this article we would try to establish if ;
1. If people have fallen out of Trust with the Traditional banking system.
2. If people can trust BTC than banks.
The thing is you cannot completely removing the Banking system without causing huge damage to the economy of a country and multiple sectors of income sources.
I'm not saying to trust the banking system and let them have their way every time, if you don't fight for what if yours in this world including money then there are many who'll take that from you either by hook or crook, the banking system is no exception.
Bitcoin cannot transact money instantly like UPI payments and multiple instant payments to locals so that's a drawback, even if you pay with bitcoin you have to rely on the security of the transaction which is none if the other person double-spends while the shop-keeper is waiting for 1 confirmation and it never came, In the banking system, you can at least file a case that your credit/debit card was used without your approval and you may get your money back but not in case of bitcoin, There're pros and cons in everything so it's better to find a balance in things that you use to get maximum output.
Just like what the Poll results is showing I don't trust the banks. I hated them right from the beginning.
They treat us nicely when we open an account with them but after that they their true colors.
They charge us for service which we don't even know if it exists and then provide a bad support.
They make us roam here and there just to access all our money. They restrict us from using our own money.
There are many other reasons why I hate them. Crypto on the other hand is like a blessing where we can be our own bank.
You may not be satisfied with the way they operate as well as the services and some of their costs but regardless of such low-rated attitudes, you still need to open a bank account in your country, it's already in a required range, without it, this would be very inconvenient to problems, for example, the form of receiving a monthly salary and the rules about buying and selling products, bank cards are always the king here. Bitcoin gets better comments but people only talk well about it but openly transferring all their money to bitcoin is something they dare not doThey treat us nicely when we open an account with them but after that they their true colors.
They charge us for service which we don't even know if it exists and then provide a bad support.
They make us roam here and there just to access all our money. They restrict us from using our own money.
There are many other reasons why I hate them. Crypto on the other hand is like a blessing where we can be our own bank.
Unfortunately that is true. Having a bank account has become a necessity because of it being a mandatory thing linking all our online payments.
For the time being we can't fully depend on bitcoin or any other cryptocurrency since crypto is not well established and widely adopted yet.
But I believe things will change in future and once cryptocurrencies start to become widely adopted then we might not depend on bank accounts as we do today.
Some people have already started getting their salary in crypto although the amount of such people is very low.
Unfortunately we can't do without the bank for now transactions and exchanging cryptocurrencies to fiat via P2P must involve a bank that is the reality, physical cash transfer between a seller and buyer is not possible also they have to depend on bank too.
However I don't trust any bank with my funds and data, in my country some dismissed or retrenched banks officials are always in possession of customers data stolen from their former workplace which they use in defrauding or scamming unsuspecting customers of the banks their hard earn money.
Ofcourse i only trust Bitcoin. Even though our fiat money is save in the banks but in case of emergency situation (like war etc), government can always seize your funds. Also they have the right to investigate if they found that you have a lot of money.
I believe both fiat and btc are equally important in my life but if you want to save in large quantities I am more confident in btc because btc is a very important asset for the future if I only save fiat in the bank then the amount of fiat I save does not increase and I can not make it as an asset for the future.
I still need a bank for my various needs so I also choose both...long-term savings in the bank is just a waste of time because the money we save, the value will be the same as when depositing it. but if you save in Bitcoin then the possibility of a profit of 5x-7x from the initial savings is very large.
When you need to send money, you are bound to go your banking account even when you want to purchase cryptocurrency, so i trust bank to an extent but i do not trust them with my data and i have no idea what they will be doing with the data they are collecting as a hack in the banking network or a rogue employ can always have your data.
The difference with the Bitcoin market is as long as we trust the developers there is nothing much to worry.
The difference with the Bitcoin market is as long as we trust the developers there is nothing much to worry.
Bitcoin could be the future of finance, but might not be in my lifetime. We should use what is accessible by most to say that it is credible. Compared to Bitcoin; Banks are more open and mainstream. Even though Bitcoin has a great utility potential, Banks are still stapled for livelihood benefits.
Answer to the question, there is a huge probability of encountering a problem with banks compared to Bitcoin since we solely manage it.
Bitcoin is much more reliable as long as you know how to operate.
Answer to the question, there is a huge probability of encountering a problem with banks compared to Bitcoin since we solely manage it.
Bitcoin is much more reliable as long as you know how to operate.
Banks are more open and mainstream just because banks are older. There is nothing that plays a bigger role than banks' age. I am sure banks will be quite outdated in a decade or two decades from now if they don't completely change. You can see already that pure online banks are taking over. Only elder people still need to go to a bank personally. For everyone else most processes are widely automated and what can't be automated can be done via video calls and identification calls and what not. Give Bitcoin some time and it will be mainstream.
Bitcoin could be the future of finance, but might not be in my lifetime. We should use what is accessible by most to say that it is credible. Compared to Bitcoin; Banks are more open and mainstream. Even though Bitcoin has a great utility potential, Banks are still stapled for livelihood benefits.
Answer to the question, there is a huge probability of encountering a problem with banks compared to Bitcoin since we solely manage it.
Bitcoin is much more reliable as long as you know how to operate.
Answer to the question, there is a huge probability of encountering a problem with banks compared to Bitcoin since we solely manage it.
Bitcoin is much more reliable as long as you know how to operate.
I believe both fiat and btc are equally important in my life but if you want to save in large quantities I am more confident in btc because btc is a very important asset for the future if I only save fiat in the bank then the amount of fiat I save does not increase and I can not make it as an asset for the future.
I still need a bank for my various needs so I also choose both...long-term savings in the bank is just a waste of time because the money we save, the value will be the same as when depositing it. but if you save in Bitcoin then the possibility of a profit of 5x-7x from the initial savings is very large.
But if we talk about saving, banks just only give you a few cents of interest which is too far behind when we just save in form of Bitcoin.
For now, aren't banks still the most important on ramp into crypto we have?
Whenever I buy crypto, I need my bank and also when I sell. I remember the times around 2015 when the banks made some trouble because they could identify transactions coming from crypto exchanges. That has totally changed by now and you can actually do whatever you want and how you want to trade, it doesn't quite matter. Times have changed a lot. Jump to: