You should never trust banks - page 65.

raven7886

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Quote from: CyberKuro on December 10, 2016, 10:59:48 PM

Quote from: Barbut on December 10, 2016, 04:46:11 AM

We should never trust system, they care just about themselves. And its western economy to be clear on this, humans are not important, just profit. We can all die today, its not important, as long as they earn billions and billions on our backs.

Actually we still need banks, due to we live in banking system right now and any cryptocurrency can't replace banks yet.
But I just hate 2 of their policies, too much/high fees and % of interest if you borrowing money to banks , you will suffer under your debts like never end.

But I'm not ready to agree that we still need banks. because I'm able to secure my wealth in cryptography format and I'm able to send and receive funds more securely and more quickly than banks will do and more importantly I'm able to transact very cheaply compared to banks fees. So, the need of banks will get fade away over time IMHO.

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Quote from: CyberKuro on December 10, 2016, 10:59:48 PM

Quote from: Barbut on December 10, 2016, 04:46:11 AM

We should never trust system, they care just about themselves. And its western economy to be clear on this, humans are not important, just profit. We can all die today, its not important, as long as they earn billions and billions on our backs.

Actually we still need banks, due to we live in banking system right now and any cryptocurrency can't replace banks yet.
But I just hate 2 of their policies, too much/high fees and % of interest if you borrowing money to banks , you will suffer under your debts like never end.

Then borrow money then. that's the way they could earn profit by lending their customers' money into someone else and give an interests out of it. if they don't do this then they can't pay every of their employees, i guess charging from monthly fees is not big enough and can't fill up the banks' needs otherwise they could seek as much profit as they can

CyberKuro

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Quote from: Barbut on December 10, 2016, 04:46:11 AM

We should never trust system, they care just about themselves. And its western economy to be clear on this, humans are not important, just profit. We can all die today, its not important, as long as they earn billions and billions on our backs.

Actually we still need banks, due to we live in banking system right now and any cryptocurrency can't replace banks yet.
But I just hate 2 of their policies, too much/high fees and % of interest if you borrowing money to banks , you will suffer under your debts like never end.

OROBTC

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...

The same interesting issue of Barron's (the well-known financial newspaper that comes out on Saturdays in the USA) that I read today had two different comments both stating that buying bank stocks was very risky as they are OPAQUE in their accounting and operations. That's bad.

So, it might be dangerous to trust your money in bank accounts, but perhaps even worse to buy those banking stocks!

n0ne

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Banks and banking system has been helping common people for a long with its various services. Banks were supposed to be a form of business which too earns from people investing into it. Now advancement is required for which banks too need to adopt the successful technology.

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Quote from: Flodemaga on December 10, 2016, 09:03:39 AM

We have to trust into banks to save our money, otherwise we might end loosing all our economies, sure they provide a good service with some problems, but the money is more safe there then at home. Bitcoin can be used to store our savings as well, i dont see it having any problem in the future, besides the free bitcoin way getting lower and lower till disappear.

That was the initial reason for banks to exist in the first place, people felt insecure about having their money in the house, then banks appeared promising to keep their coins safe for them, the problem is once banks have your money they make the rules and have abused their power since then.

Flodemaga

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We have to trust into banks to save our money, otherwise we might end loosing all our economies, sure they provide a good service with some problems, but the money is more safe there then at home. Bitcoin can be used to store our savings as well, i dont see it having any problem in the future, besides the free bitcoin way getting lower and lower till disappear.

iqlimasyadiqa

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Quote from: Cactushrt on December 10, 2016, 07:20:13 AM

Its very impossible the bank would close your account with no reason at all. Can you give as some information? Maybe you did against their service or you did not maintain minimum balance same problem with my cousin.

it could be a consideration. information security and privacy we may not be guaranteed in the BANK. bitcoin is an alternative in choosing the current financial storage media.

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Quote from: el kaka22 on December 07, 2016, 02:29:41 PM

Quote from: xIIImaL on December 07, 2016, 01:12:43 PM

Quote from: Factmine on December 07, 2016, 11:40:48 AM

I trust bank now and for a while until there is a better and clear better option. We can transact yet without banks. For now the whole world is still ran by fiat currency hence we can't let go of banks yet. But probably when the whole world adopts bitcoins then we could all be our banks. Then we can just move on and forget banks and financial corporations.

According to banks are idiotic business, where the banks use to loot common people money by the name of fees and penalties. However Bitcoin is completely different just only fee for the transaction. Other than that everything different than banks.

Yes when people are realizing the benefits of using bitcoin wallets instead of bank system, they will slowly stop using banks. From that point people will not keep on trusting banks. That is the reason people are saying bitcoin will replace banking system. In my opinion too it will be possible and it is going to happen very soon.

Two reasons bitcoin is never going to "replace the banking system." 1) Transaction fees will soon be unwieldy for bitcoin, and 2) banking system provides too many other functions to be replaced by a digital currency.

Bitcoin fees are rising. Every halving and with the more congested the network gets, fees increase in nominal bitcoins. On top of that, the more valuable bitcoin is in USD, the more those transaction fees are. We're currently on the edge of where bitcoin is not competitive for small transactions. Paying 50 cents to buy a $10 item with bitcoins is not economical, considering you could buy the item with digital fiat with no extra charge.

Also, bitcoin is not condusive to credit. Lending and therefore economic growth would seize up in a bitcoin denominated economy. People expecting bitcoin to replace the USD and create an economic paradise are delusional.

Achargeturry78

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Why not to trust banks?? Banks are good handling our money and their security is high you can't chwat with banks They might goverment control them but i don't see any reason why people shouldn't not to trust banks? Bitcoon nowadays is really useful but some of my bitcoin i always sold them and save it directly into my bank account.

rajasumi3

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yess u are right that we should never trust banks and that the reason the process of bitcoins have been made so that there will be no concept of banks at all .i dont know what about united states but in case of india u should always open an account in goverment banks which is much more better .

Cactushrt

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Its very impossible the bank would close your account with no reason at all. Can you give as some information? Maybe you did against their service or you did not maintain minimum balance same problem with my cousin.

Barbut

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We should never trust system, they care just about themselves. And its western economy to be clear on this, humans are not important, just profit. We can all die today, its not important, as long as they earn billions and billions on our backs.

batang_bitcoin

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Quote from: JariKriting on December 10, 2016, 02:35:30 AM

economic system in the world is need banks system
without bank system , i think economic in the world is not work
import,export, loan and another ecnomic system need bank system
i think all country in the world still very trust about banks

It's for sure that our economy is not going to be good as what it is today. Because banks are contributing very big to the economy of a country. And without them for sure a crisis will happen for a longer time. They are helping to boost the economy of a country, even though I hate the way they serve people because of their unusual fees but in reality they are helping which is we don't know.

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Quote from: GregH37 on December 08, 2016, 03:52:45 PM

Quote from: Factmine on December 07, 2016, 11:40:48 AM

I trust bank now and for a while until there is a better and clear better option. We can transact yet without banks. For now the whole world is still ran by fiat currency hence we can't let go of banks yet. But probably when the whole world adopts bitcoins then we could all be our banks. Then we can just move on and forget banks and financial corporations.

Yes we also have to believe on banks, because of the main reason of we do not have any other option for banking purposes. Bitcoin is still not become so stable to avoid banks at all. As for most of our affairs we have to deal with banks therefore we must have to believe on banks.

Most people do believe on banks as of these days since its the most secure and common way on securing your money and also bitcoin is not already spread on most places thats why. In the case of OP maybe he violates some things that causes his account have been frozed by the banks.

JariKriting

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economic system in the world is need banks system
without bank system , i think economic in the world is not work
import,export, loan and another ecnomic system need bank system
i think all country in the world still very trust about banks

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Quote from: bajing on December 07, 2016, 11:35:45 AM

Quote from: South Park on December 06, 2016, 05:06:13 PM

Quote from: X-ray on December 03, 2016, 02:48:57 AM

Quote from: South Park on December 02, 2016, 09:27:48 PM

Quote from: madwica on December 01, 2016, 10:24:51 PM

Why you should not trust bank, bank is the government regulated business and it will hold money for our future that is why bank is trusted in holding our money just only choose the bank who have good reputation.

Banks and bankers are not to be trusted because they care only for themselves, they don't have your best interest on mind and will throw you under the bus at the first opportunity they get.

Banks are already regulated to keep citizens' money and be sure to make them safe whilst bankers are only care for themselves, it's wrong to say that banks only care for themselves because bank is the factor that keeping your country's economy good until now,without bank the economy seem can't be healthy

I disagree, so what if they are regulated? Banks have been guilty of mismanaging the money of their clients too many times despite all of those regulations so it's very safe to say that we must not trust them and that is why keeping the money of bitcoin is a good option since we have complete control over our coins.

Bank establishes these regulations because of government policies, I think we still have full control of our money in the bank and i don't understanding what you mean if bank has mismanaging the money?

Have you ever heard about subprime loans?

Subprime basically means that the loans are not quite "prime", i.e. of the best quality. Alternately stated, the chances of these loans to get repaid are low. Why are banks doing that? First of all, because there is a shortage of normal loans ("prime") since people who are reliable no longer want to take loans altogether. And, second, the banks can then resell these subprime loans to hedge funds where they are pooled together and given the triple A rating (the highest quality)

d@nte

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Quote from: nejibens on December 09, 2016, 05:30:29 PM

Your story is sad , but it show how dealing with banks nowadays could be risky for everyone worldwide, and how much money we can lose if we don't start to use Bitcoins and cryptocurrencies as soon as we can.
Banks can , without solid reasons often, freezing accounts, or even the worst case closing it while with holding Bitcoins you make sure your money is really secured and safe.

The problem is not just banks, the problem is in the majority of centralized institutions in which the government has much influence. The problem can hinder people's lives when it comes to financial institutions such as banks, investment funds and other types of institutions. The important thing is to be cautious, and not put large sums of money into it.

X-ray

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Quote from: nejibens on December 09, 2016, 05:30:29 PM

Your story is sad , but it show how dealing with banks nowadays could be risky for everyone worldwide, and how much money we can lose if we don't start to use Bitcoins and cryptocurrencies as soon as we can.
Banks can , without solid reasons often, freezing accounts, or even the worst case closing it while with holding Bitcoins you make sure your money is really secured and safe.

It's not about how risky getting involved into bank's service but there's an odd thing happen in the country about the regulation. more than millions of people are now use bank to save their money and only minority loses their money due to many factors but i guess if the regulation there really protect the client then they might be safe

nejibens

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Your story is sad , but it show how dealing with banks nowadays could be risky for everyone worldwide, and how much money we can lose if we don't start to use Bitcoins and cryptocurrencies as soon as we can.
Banks can , without solid reasons often, freezing accounts, or even the worst case closing it while with holding Bitcoins you make sure your money is really secured and safe.

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