Topic: Why Bitcoin cannot be a Bank? - page 6. (Read 661 times)
First we don't need banks. Second, yes to all. Can't do it in your country? Move to El Salvador. Blame your politicians for being fools, not Bitcoin.
I read this tweet by Michael Saylor and I think it is not practical. I believe this guy was pretty high when he started comparing Bitcoin with Bank. Let's compare most of what he tweeted and then let's discuss the real problem. We all know the positive aspect of Bitcoin and to an extent, I agree with what he tweeted. I still would like to ask in general:
Deceiving newbies with such a statement won't get Bitcoin the required recognition. It would only lead to more confusion and uncertainty as Banks have done for so long. Such a statement from a Bitcoin influencer would only tarnish the image of Bitcoin. Mcafee was known for such statements.
- Can you pay your Mortgage with Bitcoin?
- Can you pay your house rent with Bitcoin?
- Can you pay all your bills with Bitcoin?
- Can you pay your medical bills with Bitcoin?
Deceiving newbies with such a statement won't get Bitcoin the required recognition. It would only lead to more confusion and uncertainty as Banks have done for so long. Such a statement from a Bitcoin influencer would only tarnish the image of Bitcoin. Mcafee was known for such statements.
Haha don't be confused and don't get frustrated by overthinking such points. When paper currency was started many people started their commenting on this that it won't stay long and it's not possible to apply in society but with time people get adapted to it until now even it was also true it won't stay longer compared to the historical systems. Now the same thing is happening with Bitcoin people are thinking it won't be applicable but bro with time they need to accept it whether its governments, Institutes, or locals need to accept it.
In the answer to your rest of the questions currently Answer is NO but we can enforce them to convert that No into Yes.
Bitcoin cannot replace the traditional banking industry because banks provide many different services to us. But bitcoin can be our own bank, with bitcoin, we have full control over our assets. In terms of storing bitcoin assets, it is more secure than traditional banking. For example, when SVB goes bankrupt, if you deposit money there, maybe you won't lose your money, but if you need the money urgently and the bank collapses, you won't be able to withdraw your money to deal with the emergency. But with bitcoin, you won't have that problem, you can use it anytime.
I read this tweet by Michael Saylor and I think it is not practical. I believe this guy was pretty high when he started comparing Bitcoin with Bank. Let's compare most of what he tweeted and then let's discuss the real problem. We all know the positive aspect of Bitcoin and to an extent, I agree with what he tweeted. I still would like to ask in general:
Deceiving newbies with such a statement won't get Bitcoin the required recognition. It would only lead to more confusion and uncertainty as Banks have done for so long. Such a statement from a Bitcoin influencer would only tarnish the image of Bitcoin. Mcafee was known for such statements.
- Can you pay your Mortgage with Bitcoin?
- Can you pay your house rent with Bitcoin?
- Can you pay all your bills with Bitcoin?
- Can you pay your medical bills with Bitcoin?
Deceiving newbies with such a statement won't get Bitcoin the required recognition. It would only lead to more confusion and uncertainty as Banks have done for so long. Such a statement from a Bitcoin influencer would only tarnish the image of Bitcoin. Mcafee was known for such statements.
Yes, in my opinion, all of the above current payments can be made if you convert bitcoin to fiat currency on a monthly basis.
Bitcoin can be compared to a bank in that it is a store of value. Previously, bankers kept gold bars in their cellars, which were tightly locked with a key. This gold allowed bankers to carry out monetary transactions - for example, to issue letters of exchange to clients.
Bitcoin is our personal bank. Its value is analogous to gold, and the private key is analogous to a large metal key from a secure basement - vault.
Whoever owns bitcoin owns wealth and can periodically sell some of their digital gold to cover running costs.
I read this tweet by Michael Saylor and I think it is not practical. I believe this guy was pretty high when he started comparing Bitcoin with Bank. Let's compare most of what he tweeted and then let's discuss the real problem. We all know the positive aspect of Bitcoin and to an extent, I agree with what he tweeted. I still would like to ask in general:
Deceiving newbies with such a statement won't get Bitcoin the required recognition. It would only lead to more confusion and uncertainty as Banks have done for so long. Such a statement from a Bitcoin influencer would only tarnish the image of Bitcoin. Mcafee was known for such statements.
- Can you pay your Mortgage with Bitcoin?
- Can you pay your house rent with Bitcoin?
- Can you pay all your bills with Bitcoin?
- Can you pay your medical bills with Bitcoin?
Deceiving newbies with such a statement won't get Bitcoin the required recognition. It would only lead to more confusion and uncertainty as Banks have done for so long. Such a statement from a Bitcoin influencer would only tarnish the image of Bitcoin. Mcafee was known for such statements.
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