Bitcoin Forum

What if the bank you save your life's savings in go bankrupt? Will you go bankrupt with the bank? So blockchain is to solve the trust among all parties. That's why the price of bitcoins is rising, it's the cost of trust.

Some people in my country are experienced it a few years ago, my governments only give 2 billion rupiah for each bank customers but if more than that amount then it means that if the bank is bankrupt then only 2 billion rupiah that can they get, the rest will be lost.

That is also what I am afraid of since we are not sure if those people at the back will provide the best and secure place that we can put our money into.

When the deposit rate is too high and unrealistic

When the economic crisis hits, Banks will become untrustworthy.
Because of the continuous depreciation of legal tender, the BTC investment is a good way to avoid it, so I am optimistic about the future of BTC.

Trust is one of the highest value in a life. Trust include fidelity, competence, honesty in keeping the deposit and trust can go away if we want but it's hard to come back.
If you are an entrepreneur who is directly involved with the people, of course trust must always be maintained by fulfilling every promise that has been made and agreed upon.

The blockchain is the only technology that can work with transparent and can be monitored by both parties, both first nor second parties, so that away from the suspicious effects.

I can't say "agree" if bitcoin prices are said to increase. because this is contrary to the facts.

THis is one of the best topic I have being commenting on for the past weeks, so many people would go bankrupt if their banks go. The issue is most life savings is even in the bank. Automatically, if the bank go bankrupt, they would go too. Someone like don’t use to save all my money in the bank, just money which I do need is what I put in the bank. Money is always invested in landed properties as asset and part in crypto. I would say, I’m absolutely save, if at all any bank is going bankruptcy. Thanks

The bank has insurance. If someone steals your secret key from your wallet, or accidentally generates a collision to your wallet - you will lose everything. insurance against such cases in crypto-currencies so far I have not seen

lol  :D

not as you say, that's not true. every banking is always supervised by the legal entity that umbrella it. so when the bank refers to the liquidation, it will be handled by the concerned government to prevent the investor from losing, because the bank already has a guarantee from the government before it is established.
bitcoin is more famous not because of what you mention, but more easily transact and without third party. hopefully be an insight for you.

If all the banks are not trustworthy to keep the funds we have then the best way is with blockchain

because blockchain is a new breakthrough in the world and opposite to banks
efficiency of the blockchain can facilitate the use in terms of delivery and acceptance and global listing system

therefore some banks in the world do not want this technology for fear of being rivaled

and if everyone switches to bitcoin then it is certain that bitcoin will go up in price because of the demand around the world

I'm sorry, although we no longer believe in banking, but there is no way, because there is no better way to preserve value, we can only continue to use the bank, so I came to invest in cryptocurrency

I never feeling trust in Bank system that why I don't deposit my money in Bank system to receive monthly or yearly interest :)). Bank system is really easily hacked by professional hacker on the world. Beside no need hacker, your money still can be able to disappear by bad Bank employees, they steal your money and run away. In my country, a customer lost about 500k$ in their bank account because it stolen by the branch manager of the bank :)).

Bankrupt is depends on the fund because banks are invest in share market then only it will continuously run in the market. At the same time blockchain technology is depends on the fund but blockchain technology is faster and safer than banks so peoples are looking to blockchain technology automatically banks funds are reduced in the market so bankrupt is possible in any time. But peoples are Still confusing the blockchain technology so we don't predict the bankrupt.

In most cases BTC price is rising and dumping because of Whales. There are rather low amount of crypto users in the world.

I think invest money in cryptocurrency is much safer than send money in any bank system in this world :). There are a lot of scandals related to bank system when bank's customers lost their money by hacker or any other reason and they didn't get any refund from the bank although this lost is not their fault. For now, I prefer invest my money in cryptocurrency or Gold to keep in bank although Bank system has existed for a long time.

If a bank made bankrupt your savings if they are not invested but only are on bank account are guaranteed unless you have more than 100.000€...

One of the biggest banks in our country was reported that some depositors lost their money. This is so alarming to us because if a big bank like this can be infiltrated by hackers what more of the small banks. So finding alternatives to put our money is really a must. Banks can't really provide us the earnings that we want. They are just for our convenience.

So choose the most trusted banks in which belong to most reputable and belong to the top most trusted banks in your country. That even they will just give you a small monthly interest in your savings but the most important is the safe keeping of your money with them. There are lot of banks that will give you a high monthly interest but most of them are small banks which are very critical of bankruptcy because most of their financial backer is not really dependable.

I am a Vietnamese citizen and in our country there have been scandals involving loss of money from customers. Recently, EXIMBANK has appropriated more than USD 10 million from customers. Police are investigating the clarification. If I have a lot of money I will invest in real estate projects and cryptocurrency rather than banking. Maybe I will get more risk but I believe my knowledge will bring me profit. The management on the blockchain is very clear and accurate. I can track my cash flow. For banks it is impossible because I can not all day ask what they have done with my money.

If I have big or big money then Bank is the most popular option. Crypto is forever for me to choose later. I believe in a change of generation 4.0 Good luck

Under normal circumstances, Yes. But now we see a serious drop in prices. There are people who believe that the price of bitcoin will always grow and bought bitcoin before the dump. I think they have the same feelings as the depositors of bankrupt banks. It is always difficult for a person to save his money and it does not depend on what form of money and the way of saving you choose for yourself.

Firstly life savings should be saved in a government bank so that nothing really happens to your savings and if by any chance the bank still goes bankrupt there are services like Deposit Insurance and Credit Guarantee Corporation  (DICGC) which helps you cover up to a certain amount depending on your scheme selected for any such circumstances. Here blockchain does not really solve the issue completely as nothing can be said what would happen to the cryptocurrencies in the future. Increasing the risk factors so people just go to government banks instead of cryptocurrencies as it is the matter of their complete life savings.

Most likely, the system of banks is already outdated, and blockchain simply gives an alternative technology through which it is possible to replace this sector.            

Such an obvious statement. :) it is always up to you where to store your money, but cryptocurrency is not about keeping money. It is about innovation and financial development. May be the author should look for a more trustworthy bank:)

Is the bank the only place to keep all the savings. There is also an opportunity to invest in gold or real estate or in shares. Banks are created to strengthen the economy of the country, but not their customers, who even take a loan for a crazy percentage, or vice versa deposit.

The bank is the only one place to keep all the savings. There is also an opportunity to invest in gold or real estate or in shares. The banks are created to strengthen the economy of the country, but not their clients, who even on a crazy percentage of berud loans or vice versa deposit.

If I have a lot of money I will invest in real estate projects and cryptocurrency rather than banking. Maybe I will get more risk but I believe my knowledge will bring me profit. The management on the blockchain is very clear and accurate.

I think invest money in cryptocurrency is much safer than send money in any bank system in this world Smiley. There are a lot of scandals related to bank system when bank's customers lost their money by hacker or any other reason.

If you look deeply into how the banks operate they run a practice called fractional reserve lending. Working on the premise that all the customers would never turn up at the same time to withdraw money they lend out 9 times as much as what they receive in deposits. Talk about money from thin air! Blockchain cryptocurrency is finite which is why overtime it's value will increase.

Some banks still have insurance and reimburse some losses. If you do not want to go bankrupt, you should not make a deposit more than these limits.

I agree the banks are trustable and they become less trustable with each of the crisis that end up being paid by the common people instead of sending the bankers to jail where they should be.

Blockchains may be more trustworthy but still we have to interact with banks (to receive salary, buy smth online, etc). Personally I try to avoid new banks that offer unusually big bonuses, high deposit rates, and so on.

The banks that hold the wealth of most people are tough at times, but in fact people do not trust the banks. If there is a more secure way, they will not choose a bank, and the advantages of cryptocurrency will emerge.

Bitcoin and the blockchain do solve the problem of transparency to some extent.
However, the current transfer fee for bitcoin is very high.

not as you think, basically banking has a legal umbrella and mechanism to prevent liquidation happen. of course there is now a guarantee for investors to reinforce their state-protected assets.
blockchain is a new technology that can really be counted on in terms of transactions and transparency. besides that there are many more benefits.

Buying something online can be done by using bitcoin. you know like people cashing out their bitcoin to local bank because they dont want to go through complicated process of searching merchant that actually accept bitcoin as a method of payment. Blockchain in the other han is trust less that there's no risk involved between parties.