You should never trust banks

[youdacapt]

- A lot of people think that place money in banking institutions is a very best selection, simply because the lender safe, reputable, develop the have faith in to the sender, and can be withdrawn profit every single month. Nevertheless, in the current day culture, Financial institutions have as well significantly volatility, coordination and administration is unstable, the reputation of Banks is going down. Several buyers complained getting rid of of cash in the account, it seems to vanish into thin air, and some cases, customers have to deliver income but can not withdraw cash. We should not be also have confidence in in the bank

At least you can still issue a complaint that will be legally accounted by them, it does not happen in bitcoin that will make us cry all day if there is a fatal mistake in keeping the currency personally. We still need banking to overcome our shortcomings. unless bitcoin provides another bank solution and applies to the crypto business.

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[Monkeydluffy001]

Not all bank accounts are fraud, there are some accounts has been verified by the government, but in my personal experience I haven't been cheated in any banks or have some fraud in my bank acclunts, however, you guys are correct, do not simply trust anybanks sti, just like having new friends, do not invest trust easily. Trust takes time, and money is a different discussion in terms of trusting.

[nikitano]

But that is not the safety dilemma of a financial institution.If a consumers installs a trojan that installs root certificates and a TOR browser and redirects all banking site visitors to a malicious site, that has practically nothing to do with hacking a bank.Stupid endusers are not guarded with bitcoin anymore than with ebanking. If you set up a bitcoin wallet malware, you are screwed as nicely.

[Kisanaq]

sometimes banks make us confused, for example we get 14% interest per year if saving, but I never tried it and it only gets no more than 7% per year, this is what makes me do not believe premises bank.

[@prashant]

Bank are made to be trusted and where will you keep you money?in home then income tax will put you behind bar.before you go to any bank first check its policy and government approval.then they cant fraud you in any case.if do so government has liability to pay you your money from taking it from bank.

[Coultan]

Lender is extremely important and its mistaken to say that you shouldn't have confidence in banks its so essential to bitcoin cash out as exchange. Banking is really well-liked to people and currently being acknowledged by federal government as the safest storage of peoples conserving as nicely as thier assets. A lot of organization rely on financial institutions and they are developing larger as economic climate rises progressively.

[nskendrovic]

That is correct you should never trust them. They are the ones who are in control and they are the ones who own the money. You are the debtor, they are the creditor.

[Uruckhai91]

My bank closed my account last year for no reason, and all money in my account was gone. I argued with the bank, even contacted the local government, no use. My bank just stated that "Pursuant to the CMA Disclosure and Agreement, 'THE BANK, at its discretion, may elect not to accept an account, terminate the account agreement and the account agreements of any related parties'. Both parties to the agreements have the right to end the relationship at any time and neither is obliged to provide a basis for such a decision to terminate". No single word explaing the termination was given to me. I contacted all banking lawyers online, and they were all representing the bank, not the customers. The money I lost can buy a new Mercedes. However, banks around the world now are too powerful. They are too big to fail. When you open an account in the United States, and probably also many other countries, you voluntarily give up the rights to sue the bank under their arbitrage clause. Even worse, they define the financial laws and enforce them. They can close your account, freeze and steal your property and evict you from your house. The more money you deposit into your bank account, the more you are helping the evil. I'm glad to see Bitcoin is changing all of these. Let banks die!

I do not trust the banks, because everything can happen, and the whole amount of money you put there will not return. My friend was so, it is better to keep money at home. Now why people are required to pay, the percentage of war, and then somewhere else. But they do not even take into account our interests and do not put before the fact, it's wrong

[Foromany]

Yea that is bad response for me since I want some financial institution in which I can have faith in but I trust in this matter answer that we dont need to believe in so I believe in only to myselft and no one other because nowadays entire world is spot where you cant believe in to almost nobody.

[ruslango]

It really is definitely concerning viewing some of the concerns banking companies around the planet are obtaining. I try out to not get trapped in the crypto adverse lender echo chamber but it looks reasonably bleak at moments.

[Zero.X]

I don't know about NEVER trusting your banks.....I wouldn't put all my life savings in them (maybe some), but some banks are really good about taking responsibility for fraud issues and such. Plus, I like the cashbacks I get back through my credit cards.

[mirakal]

I don't know about NEVER trusting your banks.....I wouldn't put all my life savings in them (maybe some), but some banks are really good about taking responsibility for fraud issues and such. Plus, I like the cashbacks I get back through my credit cards.

Most banks can be trusted and putting your life savings is safe because they have insurance with your deposits you will feel safe.
Putting your money with bitcoin is not safe in terms of value because you are not saving at all but you did the investing activity which makes you money at risk.

[Capt00]

I don't know about NEVER trusting your banks.....I wouldn't put all my life savings in them (maybe some), but some banks are really good about taking responsibility for fraud issues and such. Plus, I like the cashbacks I get back through my credit cards.

Agree with you, knowing that banks would give a good services towards their customer for them to trust back. Even though some of us have experiencing problems with banks transactions but still banks have been usefull to us even we are in developing crypto currency.

[Rashid555]

Yes it is fine that we can trust in banks at all but sometimes we need them to manage our transaction in the absence of these banks we can’t done that transaction for now it is very necessary to have a bank relation with us. We can trust them for now but when everywhere the market of crypto currencies applicable then we will be able to trust only on this.

[Freddie Aguiluz]

My bank closed my account last year for no reason, and all money in my account was gone. I argued with the bank, even contacted the local government, no use. My bank just stated that "Pursuant to the CMA Disclosure and Agreement, 'THE BANK, at its discretion, may elect not to accept an account, terminate the account agreement and the account agreements of any related parties'. Both parties to the agreements have the right to end the relationship at any time and neither is obliged to provide a basis for such a decision to terminate". No single word explaing the termination was given to me. I contacted all banking lawyers online, and they were all representing the bank, not the customers. The money I lost can buy a new Mercedes. However, banks around the world now are too powerful. They are too big to fail. When you open an account in the United States, and probably also many other countries, you voluntarily give up the rights to sue the bank under their arbitrage clause. Even worse, they define the financial laws and enforce them. They can close your account, freeze and steal your property and evict you from your house. The more money you deposit into your bank account, the more you are helping the evil. I'm glad to see Bitcoin is changing all of these. Let banks die!

If you have a lot of money to put in the bank, you should split it and put it in different bank accounts, because if one of the bank you used have failed, at least you still have many accounts in good condition. You will not lose all your money.

[Jose Mourinho]

The bank is still a trustworthy institution, all financial transactions printed this thing because the bank gets full supervision from the government. I was never disappointed with the bank even though the current interest rate of the bank is very low.

[geopolisch]

Yes it is fine that we can trust in banks at all but sometimes we need them to manage our transaction in the absence of these banks we can’t done that transaction for now it is very necessary to have a bank relation with us. We can trust them for now but when everywhere the market of crypto currencies applicable then we will be able to trust only on this.

I don’t trust banks with security and profits but the sad fact is we did not have any other option in the past so keeping money in this place was all that we could do. Banks get robbed, they get hacked and above all, even after keeping money for years, a tiny increment is made in the capital.

However, times are different now. We have a better option which is more secure and more profit promising. I am talking about bitcoin.

[tengek37]

many people do not trust banks is because they do not understand the terms and conditions when they open an account at the bank, then they violate the terms and conditions of the bank, then their accounts in the bank blocking. so before we open an account at a bank we must understand in advance what the terms and conditions they have so that we are not harmed by our own mistakes.

[PrincessKingdom]

Many people would like to have the choice, to cope with banks or otherwise. Regrettably that is not a fact of life and many individuals have to do business with banking institutions and make use of them because Bitcoin is not so widely recognized and regulated. We all hope this can alter in the future.

[CapriCr0wn]

I don't think why others do not believe in banks, but its their conviction and we have our own free will to think. There no problem with having faith in banks as long as the bank have the greatest fund safety also it complies with the conventional that is needed to handle safety of depositors, it can be trusted. Don't misplaced the rely upon bank simply because if you do that maybe you could not get your fiat becoming cash out via bank if banks is not legitimate.