hold your savings in the cloud rather than at a bank.

[Joshapat]

I think not, remember a lot of thieves in the cloud, and we don't know how safe is if we save cloud, I suggest stick with the bank because it has been proven to be safer than cloud.

[Golftech]

Source : http://www.zerohedge.com/news/2017-05-31/real-reason-own-bitcoin

Think about it: when you send money to someone, those funds move from your bank, to the central bank, to another bank, and then finally to the recipient’s account.

This is the same way that money used to be transferred 800 years ago…

… which seems almost tragically anachronistic given that we have apps today to send funds directly to a recipient’s mobile phone or email address.

Who needs a middleman anymore?

Why should anyone borrow money from a bank when there are so many Peer-to-Peer and crowdfunding platforms available?

Why pay exorbitant fees and commissions to exchange currency when there numerous websites that exchange money at almost no cost?

Banks as financial intermediaries are about as quaint as taxi dispatchers in the age of Uber.

Cryptocurrency and Blockchain technology are the final nails in the coffin, making it possible to hold your savings in the cloud rather than at a bank.

This article has the same goal than me when i read the first agression-law (Europa - end of 2013) that it can take (my) saving from bank in case of bankrupt (of the bank).

At this date, all my saving have been stored in crypto-space to evade from this agression-law.

I wouldn't do any such things to save my bitcoin in the cloud instead, I will save some of bitcoin in my electrum wallet to store it then
hold it in a long term basis.

much better to be wise than to be sorry if things won't work out properly , me i will split it up into two half would be with my crypto investment the other half would be inside the bank since i still need some money for emergency and atm's are still the quickest ways to withdraw my money.

[BlackPanda]

I think not, remember a lot of thieves in the cloud, and we don't know how safe is if we save cloud, I suggest stick with the bank because it has been proven to be safer than cloud.

We should look for safe storage temps of course. Storing in the cloud is not a bad thing, you have to read how the system works so you can deduce the security standards they use.

[Tor_Man]

I like the way this article is written, and agree to the general pricniple there is no need for a middleman doing nothing but taking a cut, but:
Why should anyone borrow money from a bank when there are so many Peer-to-Peer and crowdfunding platforms available?

is one point I don't completely agree to, pure simple peer to peer lending does not work, even people in this forum lending section realized this point before, there is always a need for collateral and systematic arrangement of how and how not to lend to, i.e doing the same as banks.

Bitcoin is perfect as a hold-your-own-money bank idea though, you just use a wallet that ONLY you own and have access to, rather than trusting other people to hold your money.

[bitbunnny]

Not many people love banks these days and they prefer to keep their saving elsewhere. Some have decided to quit completely dealing with fiat money and have turned to Bitcoin. It's a risky move but I can understand it. And if you have Bitcoin debit card the access to fiat is also available through ATMs.

[bitbob82]

I think not, remember a lot of thieves in the cloud, and we don't know how safe is if we save cloud, I suggest stick with the bank because it has been proven to be safer than cloud.

We should look for safe storage temps of course. Storing in the cloud is not a bad thing, you have to read how the system works so you can deduce the security standards they use.

i personally have no idea about that. i like to know about it, but i do not know that from where i can get information about cloud storage and what is the advantages of cloud storage because i am simply trading altcoin, buying low and selling high.