You should never trust banks

[Format.C^]

Why do we need to not trust the banks? Do you have any proofs that banks is not trustworthy? Because i think they are. Banks are trustworthy because they help the economy to have a smooth circulation of the money because that is where the most people put their money. Banks are here for a lot of years and i think that is enough for us to believed that banks are trustworthy.

there is a bank that has made customers lose money when in liquidation. This case in my country. but not all banks are bad, I still believe in state-owned banks, because a lot of financial aid that is given to the people. I just do not believe in banks other than state-owned banks, because most of the deals they give you is a lot of benefit to them but not to the customer. we now have our own wallet so maybe we can reduce the use of banks.

Each client can go to the bank and accepts the bank's terms and conditions. Nobody forces to do so. Of course there are circumstances in life that force to apply to the banks, but it is not the fault of the banking system. We are not so much dependent on the bank as we are accustomed to use their services.

Banks are the integral part of the system and there are no other option available to store money securely. This situation is exploit by the banks and they often charge a lots of taxes etc.

Yes and the fact is people have more faith in banking system in compare to bitcoins as they are using banks since its inception and they also don't have any other option of saving money and even if they start using bitcoins in future they will use banks too.

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[deisik]

Why do we need to not trust the banks? Do you have any proofs that banks is not trustworthy? Because i think they are. Banks are trustworthy because they help the economy to have a smooth circulation of the money because that is where the most people put their money. Banks are here for a lot of years and i think that is enough for us to believed that banks are trustworthy.

there is a bank that has made customers lose money when in liquidation. This case in my country. but not all banks are bad, I still believe in state-owned banks, because a lot of financial aid that is given to the people. I just do not believe in banks other than state-owned banks, because most of the deals they give you is a lot of benefit to them but not to the customer. we now have our own wallet so maybe we can reduce the use of banks.

Each client can go to the bank and accepts the bank's terms and conditions. Nobody forces to do so. Of course there are circumstances in life that force to apply to the banks, but it is not the fault of the banking system. We are not so much dependent on the bank as we are accustomed to use their services.

Banks are the integral part of the system and there are no other option available to store money securely. This situation is exploit by the banks and they often charge a lots of taxes etc

These are not taxes but fees

And not all banks are charging fees for transferring money and some are imposing small, rather symbolic fees for these transfers. Apart from that, just saving money in a bank is not a good idea overall. While it is certainly safe (more or less), inflation usually exceeds the interest you get on your money when you put it into your deposit account. The bottom line is that the best way of storing money is investing it in a business or company. Money should work, not sit idly under the mattress or in a bank (in the latter case, the bank itself will put it into work and grab all the profits)

[bitbob82]

Why do we need to not trust the banks? Do you have any proofs that banks is not trustworthy? Because i think they are. Banks are trustworthy because they help the economy to have a smooth circulation of the money because that is where the most people put their money. Banks are here for a lot of years and i think that is enough for us to believed that banks are trustworthy.

there is a bank that has made customers lose money when in liquidation. This case in my country. but not all banks are bad, I still believe in state-owned banks, because a lot of financial aid that is given to the people. I just do not believe in banks other than state-owned banks, because most of the deals they give you is a lot of benefit to them but not to the customer. we now have our own wallet so maybe we can reduce the use of banks.

Each client can go to the bank and accepts the bank's terms and conditions. Nobody forces to do so. Of course there are circumstances in life that force to apply to the banks, but it is not the fault of the banking system. We are not so much dependent on the bank as we are accustomed to use their services.

Banks are the integral part of the system and there are no other option available to store money securely. This situation is exploit by the banks and they often charge a lots of taxes etc.

Yes and the fact is people have more faith in banking system in compare to bitcoins as they are using banks since its inception and they also don't have any other option of saving money and even if they start using bitcoins in future they will use banks too.

actually banks operating for such a long time. they also have the support of governments and states therefore people have more confident on banks, hope very soon people will also get trust of bitcoin.

[grandy]

Why do we need to not trust the banks? Do you have any proofs that banks is not trustworthy? Because i think they are. Banks are trustworthy because they help the economy to have a smooth circulation of the money because that is where the most people put their money. Banks are here for a lot of years and i think that is enough for us to believed that banks are trustworthy.

there is a bank that has made customers lose money when in liquidation. This case in my country. but not all banks are bad, I still believe in state-owned banks, because a lot of financial aid that is given to the people. I just do not believe in banks other than state-owned banks, because most of the deals they give you is a lot of benefit to them but not to the customer. we now have our own wallet so maybe we can reduce the use of banks.

Each client can go to the bank and accepts the bank's terms and conditions. Nobody forces to do so. Of course there are circumstances in life that force to apply to the banks, but it is not the fault of the banking system. We are not so much dependent on the bank as we are accustomed to use their services.

Banks are the integral part of the system and there are no other option available to store money securely. This situation is exploit by the banks and they often charge a lots of taxes etc.

Yes and the fact is people have more faith in banking system in compare to bitcoins as they are using banks since its inception and they also don't have any other option of saving money and even if they start using bitcoins in future they will use banks too.

actually banking system is an old system of banking they have the support of government therefore people are trusting on banking system too much. hope very soon people will also trust on bitcoin and will become able to use bitcoin for so many other optios.

[yoseph]

The whole concept of banking is just a big sham, You give them your money and they use that very money to make profit afterwards they charge you all sort of taxes from the money. They can close your account at any time and freeze your asset at any given time.

[stergium]

Why do we need to not trust the banks? Do you have any proofs that banks is not trustworthy? Because i think they are. Banks are trustworthy because they help the economy to have a smooth circulation of the money because that is where the most people put their money. Banks are here for a lot of years and i think that is enough for us to believed that banks are trustworthy.

there is a bank that has made customers lose money when in liquidation. This case in my country. but not all banks are bad, I still believe in state-owned banks, because a lot of financial aid that is given to the people. I just do not believe in banks other than state-owned banks, because most of the deals they give you is a lot of benefit to them but not to the customer. we now have our own wallet so maybe we can reduce the use of banks.

Each client can go to the bank and accepts the bank's terms and conditions. Nobody forces to do so. Of course there are circumstances in life that force to apply to the banks, but it is not the fault of the banking system. We are not so much dependent on the bank as we are accustomed to use their services.

Banks are the integral part of the system and there are no other option available to store money securely. This situation is exploit by the banks and they often charge a lots of taxes etc.

as banks are present for a long time. and they also have the government support therefore i do not think that banks can be consider as un trusted.

[andyblocks]

The whole concept of banking is just a big sham, You give them your money and they use that very money to make profit afterwards they charge you all sort of taxes from the money. They can close your account at any time and freeze your asset at any given time.

These rates make things complicated for many people. Things could be much better if such banks did not suffer so much influence from governments. If such institutions did not have to pay high taxes, customers would benefit from it.

[mirakal]

The whole concept of banking is just a big sham, You give them your money and they use that very money to make profit afterwards they charge you all sort of taxes from the money. They can close your account at any time and freeze your asset at any given time.

These rates make things complicated for many people. Things could be much better if such banks did not suffer so much influence from governments. If such institutions did not have to pay high taxes, customers would benefit from it.

The current banking cannot be change, though you see private banks but they are purely supervise by the central bank which is created and govern by the government. We have this bitcoin because we do not want the government to interfere and be decentralized where we do not follow all their rules.
Banks can be trusted but do not trust fully in a centralized system as when you think your information is safe you might be wrong since corrupt officials do exist and you vital information could give threat into your life especially if you are holding a big amount of money.

[batang_bitcoin]

For me, I will still use the services of bank, they are good when you need them like for saving money, just save your money with them if you don't want to use it. Also they are good with lending once you built up a good relationship with them, you won't be having hard time to ask them money if you need so.

A bank's purpose as of this present moment is just really about saving your money and not gaining anything from it because we all know that the interest right now is the lowest of the low. Also people complaining about the fees on using services of the bank, I think it is better and cheaper compared to buying your own Personal Security Safe which can cost you thousands of dollars ( the security/protection you are getting in a banks is better compared to keeping your money at your home).  Also some banks offer collateral if a bankruptcy ever happened which is a nice feature that protects your money being lost and also we can take advantage of creating several bank accounts with different banks  so that we can diversify and maximize the collateral that each bank is giving.

Yes if you're sole purpose for using bank's service is just to save, you will be safe as they are covered by the law but don't expect that you will be earning good amount of interest. They are not the best place for interest or earning with your savings but they've got option for investments and there is a risk, it's up to you what you want to choose.

[FlightyPouch]

The whole concept of banking is just a big sham, You give them your money and they use that very money to make profit afterwards they charge you all sort of taxes from the money. They can close your account at any time and freeze your asset at any given time.

These rates make things complicated for many people. Things could be much better if such banks did not suffer so much influence from governments. If such institutions did not have to pay high taxes, customers would benefit from it.

Many people really are being deceived by these activities of the banks earning a lot of money from them. That is the reason why I use bitcoin, it is a decentralized digital currency which is really great because no banks and governments are related to it, there are no taxes and we can send bitcoin anonymously. With these matters I think I can't really trust banks and their services, the fact that they are related to the government which means they are not really trusted.

[alex_mercer]

I think such problems ares not just on banks, but on centralized institutions in general. We obviously need such services, so there is not much choice, but it is necessary to choose those who provide us with the best possibilities.

[Doamader]

The thing is that we need to save our money and banks are the only safe way to protect it from bad people, nowadays walt in the street with money is a high risk to loose your life doing such thing. Banks has its problems, they can close and damage their costumers, but this will only happen if they not able to get profit and lend your money to others, till that your money is safe.

[virasisog]

The thing is that we need to save our money and banks are the only safe way to protect it from bad people, nowadays walt in the street with money is a high risk to loose your life doing such thing. Banks has its problems, they can close and damage their costumers, but this will only happen if they not able to get profit and lend your money to others, till that your money is safe.

So we should trust banks in particular the legal banks as it will protect our money .But walking in the street with your mo ey isn't safe at all so it is our own risk if we do that ,there are many ways to save our money .Banks are safe rather than online banks like bitcoins doesn't have assurance if we lost some unlike banks that are responsibilities on any damage or amount that lost without our approval.

[wuvdoll]

Why do we need to not trust the banks? Do you have any proofs that banks is not trustworthy? Because i think they are. Banks are trustworthy because they help the economy to have a smooth circulation of the money because that is where the most people put their money. Banks are here for a lot of years and i think that is enough for us to believed that banks are trustworthy.

there is a bank that has made customers lose money when in liquidation. This case in my country. but not all banks are bad, I still believe in state-owned banks, because a lot of financial aid that is given to the people. I just do not believe in banks other than state-owned banks, because most of the deals they give you is a lot of benefit to them but not to the customer. we now have our own wallet so maybe we can reduce the use of banks.

Each client can go to the bank and accepts the bank's terms and conditions. Nobody forces to do so. Of course there are circumstances in life that force to apply to the banks, but it is not the fault of the banking system. We are not so much dependent on the bank as we are accustomed to use their services.

Banks are the integral part of the system and there are no other option available to store money securely. This situation is exploit by the banks and they often charge a lots of taxes etc.

as banks are present for a long time. and they also have the government support therefore i do not think that banks can be consider as un trusted.

Well ask yourself do you trust your government, if you do therefor you trust banks, and one way or the other we can’t deny that we are under the control of the government and we know that we can’t do shit about it because if don’t we can’t live in this society, therefor we find some freedom in using bitcoin which is not controlled and store the way we want to so we can be our own banks.

[CODE200]

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 don't think so, if there is a case of a certain account which happen to close with no reason at all can be considered as a rare caes. In my point of view commercial bank even a rural bank has a following policy and regulations to each depositors and these are well explained to every depositors to the bank and they are obliged to commit to such conditions especially if the account is pay roll system because these are the accounts that usually close especially if the employee who haplens to have a saving account for pay roll left the company or the previous company.

[stergium]

Why do we need to not trust the banks? Do you have any proofs that banks is not trustworthy? Because i think they are. Banks are trustworthy because they help the economy to have a smooth circulation of the money because that is where the most people put their money. Banks are here for a lot of years and i think that is enough for us to believed that banks are trustworthy.

there is a bank that has made customers lose money when in liquidation. This case in my country. but not all banks are bad, I still believe in state-owned banks, because a lot of financial aid that is given to the people. I just do not believe in banks other than state-owned banks, because most of the deals they give you is a lot of benefit to them but not to the customer. we now have our own wallet so maybe we can reduce the use of banks.

Each client can go to the bank and accepts the bank's terms and conditions. Nobody forces to do so. Of course there are circumstances in life that force to apply to the banks, but it is not the fault of the banking system. We are not so much dependent on the bank as we are accustomed to use their services.

Banks are the integral part of the system and there are no other option available to store money securely. This situation is exploit by the banks and they often charge a lots of taxes etc.

Yes and the fact is people have more faith in banking system in compare to bitcoins as they are using banks since its inception and they also don't have any other option of saving money and even if they start using bitcoins in future they will use banks too.

actually bitcoin are surviving for a long time and they also have support of government therefore people are trusting on banks, i think it will take a long time when all the people will start using online wallets instead of banks.

[fathur.aza]

why should not trust the bank, that the bank has been able to support from the government directly.

Why?

[nethan1btc]

why should not trust the bank, that the bank has been able to support from the government directly.

Why?

Yes that's right, government really been supportive to the banks because establishing the fiat money system and economy is been able to sustain from financial stability. With bitcoin status to banking, well its really trusted as well through fiat economic exchange rates; and I know it should be trusted through the years of serving bitcoiners.

[AjithBtc]

If banks were not there we could be living same as that we lived centuries back. Another thing is that banks serve the community directly though it has got lots of flaws in the system. Importantly without banks we could have never thought of bitcoin or virtual currencies. Just to have an advancement than the other bitcoin is innovated.

[Viscore]

If banks were not there we could be living same as that we lived centuries back. Another thing is that banks serve the community directly though it has got lots of flaws in the system. Importantly without banks we could have never thought of bitcoin or virtual currencies. Just to have an advancement than the other bitcoin is innovated.

It's hard to compared bitcoin to bank when one does not understand the uses of two, for me I understand it very well and I Know although bitcoin
is very valuable but it is not a legal currency, hence it will never be powerful as fiat. Banks are existing for centuries, so if people does not trust
banks they would not grow that big, we have to accept the fact it is what government are supporting than our bitcoin.