Bitcoin Forum

what else?
if btc are good and nobody cant take it from you by freezing your balance but the problem is btc are volatility.

so my conclusion: banks and bitcoins are good and best? banks are best becouse you can hold your stable fiat currency safe there

I did not get your point. Did you mean saving USDt in bank? Or holding dollar?

Just know that dollar will still in one way or the other be subjected to fiat devaluation/depreciation by the central body (US government). That will be the reason I will not also make use of USDt or any other stable coin because their prices assumes the price of US dollar.

Unlike bitcoin which is a deflationary currerency. When its price surpass all time high will be when you will realize. Bitcoin price will increase and decrease, but over long time period bitcoin price will have a net increase because it is just a deflationary money that is not subjected to central control and only 21 million will be in total circulation.

i meand bank is best place to hold your money not stable coins as they can be frozen and bitcoin are volatile today 17 tomrow 19 k...

so banks are the winners here

If you're after a return banks aren't great...

If you put $20 in your average bank for 5 years you'll probably have $20 or close to it. If you invest it in btc or a stock you might and probably will get more. Even just using a simple algo against selecting a stock....

It's difficult to keep up with the OP, since each and every new brainfart seems to result in yet another barely comprehensible topic.  They started this thread (https://bitcointalk.org/index.php?topic=5294669) where they suggested stablecoins could be a "plan B", but now realises they're pretty terrible after some more experienced users put them straight.

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And if the global economy continues to worsen, negative interest rates may become common and you won't see a return at all.  You'll have to pay money just to keep your account open.

What's the point in keeping coins on a bank account? This would be counterproductive.

Sure, nobody else apart from the bank can't take your money but the important question is: is there anyone who can?

The bank itself and the government can take your money from a bank account. A bailiff can take your money. A judge can order your money to be taken. The police can take your money.
If that's what you want then be it but I prefer my bitcoins.

Banks are not better against volatility, the world changes every moment, so we must adapt and not stay stagnant.

Are you familiar with Dai? Dai is third biggest stablecoin by marketcap and unlike USDT or USDC, it cannot be frozen.

So being a volatile asset is bad and stable fiat is good coz they can't be frozen while usdt and other stable coin can? So that's all your reasoning?

Well, that's for you, its good to save money, you can save fiat to banks for how many years but don't expect an + interest, you might get a negative interest instead and prone to getting devalued due inflation. And don't think fiat can't be frozen coz anyone in the government can.

While we, and some other guys here loves volatility, it's one of the living of some here being a day trader.
Having bitcoin instead of fiat in banks is called freedom, control over your own money instead of putting it to someone else just because you're incompetent of holding them.

Well, its a vague question, OP.

But the way I understand it, stable fiat currency should be put in bank for safety? Have you forgot that we have "crypto exchanges/wallets" that are our bankd for saving and holding crypto coins? Whether it is bitcoin, or usdt.

And what is the problem if we freeze our bitcoin and it is volatile? That volatility makes it more special, give  us more opportunity to make some profit. There's always an option to "hold" if volatile market as sideways or dump market is your problem.

While it might be safer to just hold USD in banks instead of holding stablecoins, don't forget that your money in your bank can also be frozen. So yea, besides the volatility risk, holding bitcoin is safest in terms of unconfiscatability.

Saving money in the bank is not profitable. Bitcoin has the volatility to earn faster profits. If I keep $ 100 in the bank, I will lose because there will be a deduction in my monthly fees. Conversely, if I save money in Bitcoin, I can benefit from the volatility in the value of bitcoins.

If you are just concerned about your money being frozen, the banks can do that too. They have been freezing bank accounts for no reason for as long as they have existed, even more today. And you can't really compare fiat with stable coins. Any fiat is completely legitimate and will never be able to be shut down in a blinking of an eye, the country has to vanish for their currency to vanish too. But a stable coin can easily vanish if the company owning and issuing it vanishes or were shut down for any reason like money laundering. That's the biggest risk with centralized altcoins such as USDT.

There is no point with what you're trying to bring for this topic you're up to. The purpose of using the banking services depends the likes of you. If you can use them and you're happy with that, it's all up to you if you grade them best or good.

Bitcoin serves a lot of uses. As store of value, currency/payment if you want to. And volatility isn't actually a problem because it is attached to bitcoin. If you're not confident with the volatility of bitcoin then you are good to hold it on a stable coin that's decentralized or a bank.

Are your statements more about security comparisons? In my opinion, Bitcoin is a kind of digital asset that has a function, one of which is for investment. Meanwhile, the Bank also has the same function. But it is true, Bitcoin has a significant fluctuating price which makes Bitcoin very risky. But even so, for long-term investments, bitcoin benefits more.

having a volatile price makes bitcoin a risky short term investment not a risky currency which bitcoin is. so you can't call bitcoin risky here.

bitcoin is not about profit though specially if it is being compared with the banking system. it is about being decentralized and lacking any corruptible authority in control of your money.

It is not my money if it is handled by another authority.
I avoid banks as much as possible, that is why I do not use credit/debit cards nor have any plans in getting them anyway.

I believe banks freeze their people's money too, OP just like how you point out that USDT can be frozen as well.

Since you already figure it out then why bother to post it! to enlighten us perhaps, thanks for the heads up, will give it a serious consideration  ;)

On a more serious note, banks and btc are both equally important and good for your finanacial wellbeing, i would say they work hand in hand, banks plays an important role in your investment process, btc plays a different role in helping you to grow your investment. Keep both of them close if you are the type who uses bank ;D

If you have BTC then you exchange Or convert BTC to USDT.Coz USDT coin is stable. Bitcoin price up and down everytime.So i think you can hold usdt.

Living in the current conditions in a civilized country, one way or another we are faced with the fact that we have to use paper money. And there is no difference, fiat money in paper form or in a bank account. From utilities to groceries, people still pay for it with fiat money, because these organizations and stores do not accept cryptocurrency. Of course, somewhere else the same cryptocurrency is used, but these are isolated cases. But if we talk about the safety of my savings, then in any case, like you, I choose the blockchain.

Banks have central properties, and bitcoin has the opposite nature, I think both are good to use. Because it has its own advantages" bitcoin is open-source but the drawback is that no one can help if you lose bitcoin even if it is intelligence , on the contrary, in the bank system at least we can consult when there is a problem and get action on it.

Dear friend your wallet can't be frozen if your private keys are well kept , crypto has many much benefits over banks, talking about price volatility if ur afraid of prices going up and down this means you don't have a mindset of investing in crypto bro, because price volatility is what made the crypto Market to be beneficial, if you just wanna Save your asset  without looking for profit and being afraid of loss then you can use a stable coin like Usdt to save your funds in your wallet, but if your are wise enough to minimize your lose and maximize  your profit then you can save your funds in bitcoin and take it as an investment you made therefore buying when there is a deep.

Yes, you're absolutely right that bitcoin is good and nobody can take it from you (well, except hackers and scammers if you're not very careful with your wallet security) by freezing your balance. It is also true that what makes the price of bitcoin unstable is its volatility.
However, I think you're wrong to think the banks are best because we can hold your stable fiat currencies there. Instead of trusting the banks to hold your money where it can lose value due to inflation and bank charges, why not hold your money in stable cryptocurrencies like the USDT, USDC and BUSD. this way, you have your balance intact without fear of inflation and you remain your own bank.

In my country banks are no real options anymore. Due to 10 years of low interest rates the traditional saving model is broken. For example, I get between 0 and 0.25% interest per year while I have to pay a fixed fee for my bank account. On top of that is the inflation rate around 2%, so I am losing around 1.75% purchasing power every year. If I really want to save my money I need to go into cryptos or stocks.

I would rather have one wild currency, than one tame and boring currency that are being manipulated to death by governments and also feel safe having control over my own destiny. (You have 100% ownership of your own wealth and it cannot be seized by any government)

Bitcoin gives you the freedom and with that freedom comes risk and volatility. Make full use of that volatility to make significant profits and deal with the volatility in such a way that you profit from it. (Buy low..wait for a spike and spend at a higher value)  ;)

In my personal opinion, I do not believe that banks are so transparent, when you must make a deposit or a withdrawal from your balance if it is very large, you must present the origin of the funds and if you withdraw it you must fill out certain forms to see if they give authorization to withdraw it. The core of all this is, if you have money and you need to move the amount you want, you must do it because it is your own money, they should not ask permission from third parties, with bitcoin there are no permissions and you can move the amount you want.

Some banks want to implement cryptocurrencies on their platforms, bitcoin among others, the only thing is that those who have crypto and bitcoin will have to pay additional taxes and they would have the data of the holders and it is not convenient, the idea of having crypto is to avoid the control by third parties and that it is decentralized, this includes that they do not know the identity of those who possess it.

That will depend on each people expectation. If they think that the banks and bitcoin are good and best, they will still use both banks and bitcoin. But if they think that bitcoin is the best than the banks, they will not save their most money in their bank account but they will save their money in bitcoin. I still use the banks to save my money and withdraw my money using ATM, but I also save my money in bitcoin form.

It will be more safe if you withdraw all the fiat money from your bank account and keep them in a locker but this cryptocurrency is not only about savings, its all about transacting and how easy it can be with the decentralized blockchain network like Bitcoin.

Unfortunately not that many people realize that part about bitcoin. The creation was obviously that people should move their money to bitcoin, and technically speaking people are moving their money to bitcoin which causes the price to go up, these days people are willing to pay more and more fiat to get into bitcoin. However most of the people do this because they want to have more fiat, they want to spend 1 fiat and get 1 bitcoin and then sell that 1 bitcoin for 2 fiat, that is what the purpose became.

However no matter how people are using it, having more and more people invested into bitcoin also opens a lot of doors for us to buy and use bitcoin in more places as well. Look at Tesla for example, one of the biggest companies in the entire world accepts bitcoin as a payment and that matters a lot, that is a great deal if you ask me and that is why I think asset and currency goes hand in hand.

What do you say to a man who overthinks everything?

Dollar, Bitcoin, USDT... in the end you just wish the get the job done! If that can be faster and cheaper it will be more suitable!

As Bitcoin opened my eyes to the world, I can't deny the existence of all other alts that can do the job, as Bitcoin can, or USDT, and to be cheaper in the same time, so why not?

Do we need to be Bitcoin maximalists to own some Bitcoins? Do we need to accept Bitcoin and reject everything else that crypto has to offer?
And that USDT on Ethereum? Is it so good that I need to pay a 0.027 ETH gas fee for any USDT transaction? And when I use BUSD I pay cents?
So you tell me who is crazy here?

I don't know, but a lot of cryptocurrencies in the market are showing great promise, as much as bitcoin's profitability, sometimes. But I believe it is all on the hands of the investor, because a coin, even something like bitcoin, will not come to rise if not for its supporters. So basically find a coin with a hard following, double check the graphs of that coin, and if you're confident enough, buy a few, keeping in mind not to all in and diversify your portfolio to ensure that profits are still achievable.

Bitcoin is a deflationary currency BECAUSE its price is climbing, it's not the opposite. Its deflationary characteristic is an effect of the increase of its price not a cause of it. When its price decreases, prices of goods and services in BTC increases, and it becomes an inflationary currency consequently.

(If you put $20 in your average bank for 10 years you'll probably have $20 or close to it. If you invest it in btc or a stock you might and probably will get more. Even just using a simple algo against selecting a stock )

Are you talking about USD or USDT am not sure am getting what you are saying. USD and USDT are actually very different and there is more risk holding USDT than USD.
However it's like an investment portfolio, you always have to diversify. You never know when the crypto winter comes, it's always good to have both, fiat and cryptocurrencies.
 

We know that Bitcoin is a common currency a few days ago it rose to 58,000 usd plus and now it's about 55,000 usd so I think it'll grow even more in the future......

WOW you already know which will be the price of BTC in 10 years, while nobody is able to predict with accuracy what will be its price for the end of the year. You must be a highly skilled trader  ::).
BTC is one of the most volatile and unpredictable assets available in the world, so forecasting its price for a decade from now is just pure nonsense bull shit in my opinion. Nobody can tell if Bitcoin will worth 100 000 or 100$ in ten years. You're talking about stocks but would you say the same thing for penny stocks? They are as volatile and unpredictable as BTC however.

Locker isn't really safe, and bank while could freeze your bank account out of the blue like anytime definitely safer than locking your money up in your locker since if anyone figure it out you might get robbed and risking your life. However bitcoin in the other hand, wouldn't get your wallet frozen out of the blue unless you used wallet provided by exchange or such. I think the main point here is that no intervention by third party can be done when it come to decentralized system.

OP wanted to prove that USDT is better than the bitcoin that is why I said why we need bitcoin and why we have bitcoin now. And the above quoted part is why USD or any fiat is better than USDT.

Crypto currency and fiat is not same. Crypto currency is always volatile. You can make huge profit and also loss your huge money by investing on Crypto currency. Though this is depend upon coin. But if you hold your money in bank then there is no chance to loss your money. You can get some profit monthly or yearly which is selected by the bank. Also you don't expect a huge profit from bank. Bank can secure your money but Crypto can make your money huge and can make you rich. But you need enough knowledge about Crypto. So finally I'm telling that bank and bitcoin is not same to compare.

I do get what you’re saying, but your headline confused some people. I understand that you’re saying this based on what has been on the news about USDT. But one thing you have to know is that even with all that has been happening the USDT kept increasing in value and it sits at the fifth position on the coinmarketcap.com list with a market cap of around forty three billion dollars, and that’s huge.

Making use of USDT is not a must for anyone, yes they have been a lot of things that we see wrong these days, the Tethers are not fully backed by the USD, and we are not sure whether they are just setting any number the want the public to believe that it is 1:1 with the US dollar. There are lots of other good stable coins, and if you want to be making use of fiat, that’s also good, whatever way will work best for you.

There's no question about the popularity and how good bitcoin was in the past years,Usdt is also good and you can earn profit by trading it. Usdt is rising and rising every single weeks and in the top 10 in coinmarketcap. If you want to invest in much profitable way you must trade usdt pair.

See the growth of BTC, anyone will be amazed to see. Day by day people are gathering here to know about crypto and new investors are also coming to crypto for making investment to gain a healthy return. With compared to bank, crypto will be the best choice if you want to hold your assets through using Btc and I am very much optimistic that the value will be more in a certain time.

Let's do a simple comparison with this example:
Imagine that you owned 2,000$  ten years ago and put $ 1,000 in the bank and another  1,000$ with which you bought Bitcoin at that time and stored it in the wallet. What result will you get in ten years?
 1000$ in the bank will remain the same and its value will not change. As for the  1000$ with which you bought Bitcoin, its value will become about 60K$ after ten years !!!! Which one do you think is better?
For sure, I would choose to store my money in Bitcoin and not dollars, as price fluctuation is not a problem with Bitcoin but rather has great long-term benefits.

From the little experience am having let's just make a simple comparison between bitcoin and bank. Everybody believes bitcoin is volatile and can pump or dump at any time, but when your money is in your bank it is always fix and your money is completely safe. But I believe bitcoin is having advantage over bank because when you invest in bitcoin you will definitely be expecting profit if you can hold for a long term but if you are holding money in your bank no matter how long it is your money will be fix and no increment.

Banks are bad. They get money from your money and give you a little portion of what they get. You should've know that by now especially that institutions like banks are the worst out there. Meanwhile, BTC's volatility is quite reliant due to the fact that its price is going upwards throughout the years with a magnificent return of investments.

both have different characteristics, but with our BTC there is also a big risk consequence. indeed currently btc is on the rise, but we can see the previous year where btc dumps, and a lot of people are frustrated. I think both of them have their own positive qualities

the nature of people having crypto like USDT or other coins the goal is to get profit not to save in crypto. then after they make a profit they will be in the bank to save money. so they won't be long in crypto, that's how it is currently happening. This is not talking about the winners between banks or crypto, but it is talking about the mutual relationship between banks and crypto.