What don't you like about Banks and Banks controlling your money

[btcgolong]

whether you agree or disagree that this is positive - banks also serve a "bigger" purpose



http://positivemoney.org/how-money-works/how-banks-create-money/

[BitcoinPC]

I meat a guy in banking hall today angry with his account officer because he was ask to open an account without being told if has a BVN number after he has make a deposit. Since this incident today I look at banker as being greedy, and selfish. They only thing on how to get from you and when you want to get back what you have deposited, you become a strange to your own assets.

Getting your money into a bank is easy, getting your money out of the bank is really difficult that is why I got into bitcoin in the first place, I hate banks, you lend them your money and they act as if they are the ones doing a favor to them.

It is true, some time banking employees are doing work with negligent. Because they have no interest on customer's money, they are just doing their job. But if we are doing our work with carefully then sure no banks and bankers could disturb us. It is also our responsibilities that always careful about our money. That's why i convert my money into bitcoins, it is more save than banks.  

[n0ne]

I meat a guy in banking hall today angry with his account officer because he was ask to open an account without being told if has a BVN number after he has make a deposit. Since this incident today I look at banker as being greedy, and selfish. They only thing on how to get from you and when you want to get back what you have deposited, you become a strange to your own assets.

Getting your money into a bank is easy, getting your money out of the bank is really difficult that is why I got into bitcoin in the first place, I hate banks, you lend them your money and they act as if they are the ones doing a favor to them.

It is true, some time banking employees are doing work with negligent. Because they have no interest on customer's money, they are just doing their job. But if we are doing our work with carefully then sure no banks and bankers could disturb us. It is also our responsibilities that always careful about our money. That's why i convert my money into bitcoins, it is more save than banks.  

In one form what you say is correct. Think in a manner that banks are centralized, so they were assigned certain duties to be completed before stipulated time. This at times cause mistake and make the customer suffer. Importantly saving in terms of bitcoin is safer, but if it's lost then it's lost forever, but with banks we can claim indicating all that happened between time period.

[cafucafucafu]

whether you agree or disagree that this is positive - banks also serve a "bigger" purpose



http://positivemoney.org/how-money-works/how-banks-create-money/

Yes indeed, fractional reserve is how banks make profit and how boom and bust cycles are fueled. Is it a big purpose? Yeah. But it's definitely negative. This plus the government insuring deposits mean that banks can essentially do whatever they want, lend to subprime mortgagees etc. like what happened in 2008, because they know they can do fractional reserve and governments will bail them out if anything bad happens.

So essentially, you have the government controlling laws and regulations, as well as the monetary supply itself. But you've also got bankers that control monetary supply. So the whole idea of central banking is quite delusional and f***'d up, i'm surprised why anyone still believes that this is how the future should be. It's obvious that bitcoin is a better alternative, people are just reluctant to use it.

[andylowe]

I definitely don't like banks controlling my money because banks uses our money for more profit. Just for example you deposit a bulk amount of money just for savings, yearly inflation rate will increase while your money there gaining only an interest lower than the inflation rate.Who's the loser now?

[Jherek]

I definitely don't like banks controlling my money because banks uses our money for more profit. Just for example you deposit a bulk amount of money just for savings, yearly inflation rate will increase while your money there gaining only an interest lower than the inflation rate.Who's the loser now?

Precisely. If you are depositing money into banks, it might seem like a good deal at first. You're like wow, you're getting 2-3% a year by doing nothing, and if i get enough money deposited into that account then you're able to basically live off interest alone, right? But no, prices of goods around you are going up faster than you're getting in interest, therefore depositing moeny into banks is essentially pointless in a business point of view.

The main reason why all this is such a big issue though is fractional reserve - banks make "bank" off getting deposits, generating more cashflow than you deposited because of this fractional reserve scheme, and essentially lending $3 when they only received a $1 deposit.

And also, centralized means of money remittance means that you're accepting any frozen accounts that occur, especially when using bitcoin on a daily basis. It's not rare that bitcoin trader's bank accounts get suspended. With bitcoin, you get rid of the fractional reserve, you get rid of the banks taking all the profits, and best of all - you don't need to deal with frozen accounts anymore, nor do you need to deal with stolen credit cards as a business owner.

[mrfreezeh]

I definitely don't like banks controlling my money because banks uses our money for more profit. Just for example you deposit a bulk amount of money just for savings, yearly inflation rate will increase while your money there gaining only an interest lower than the inflation rate.Who's the loser now?

I agree, the value of goods every year increases and when receive money from saving banks, we just loss or take a small profit. And in present, saving bank not better than investing to buy cryptocurrency, more people on the world's can realize that. If not want buy crypto, I will buy Gold for replace saving bank

[The_Dark_Knight]

I meat a guy in banking hall today angry with his account officer because he was ask to open an account without being told if has a BVN number after he has make a deposit. Since this incident today I look at banker as being greedy, and selfish. They only thing on how to get from you and when you want to get back what you have deposited, you become a strange to your own assets.

Getting your money into a bank is easy, getting your money out of the bank is really difficult that is why I got into bitcoin in the first place, I hate banks, you lend them your money and they act as if they are the ones doing a favor to them.

It is true, some time banking employees are doing work with negligent. Because they have no interest on customer's money, they are just doing their job. But if we are doing our work with carefully then sure no banks and bankers could disturb us. It is also our responsibilities that always careful about our money. That's why i convert my money into bitcoins, it is more save than banks.  

I think bitcoin in a way it is going to help us with that as well as banks begin to realize they are losing costumers due to their policies, I think in the future they are going to try compete for our business, they are already doing that by giving you something when you open an account with them but I think things are going to become even more extreme when bitcoin becomes mainstream.

[Finestream]

I definitely don't like banks controlling my money because banks uses our money for more profit. Just for example you deposit a bulk amount of money just for savings, yearly inflation rate will increase while your money there gaining only an interest lower than the inflation rate.Who's the loser now?

I agree, the value of goods every year increases and when receive money from saving banks, we just loss or take a small profit. And in present, saving bank not better than investing to buy cryptocurrency, more people on the world's can realize that. If not want buy crypto, I will buy Gold for replace saving bank

One way to get out in inflation is to invest, it's not wise to save all our money in the bank because only banks will be benefited more on that as they have the right to use our money in their business which would bring them profit. Think outside the box and see the real situation of the world now, if we do not take a chance to invest we will not gonna get our ultimate goal to have a financial freedom.

[Beparanf]

I definitely don't like banks controlling my money because banks uses our money for more profit. Just for example you deposit a bulk amount of money just for savings, yearly inflation rate will increase while your money there gaining only an interest lower than the inflation rate.Who's the loser now?

I agree, the value of goods every year increases and when receive money from saving banks, we just loss or take a small profit. And in present, saving bank not better than investing to buy cryptocurrency, more people on the world's can realize that. If not want buy crypto, I will buy Gold for replace saving bank

One way to get out in inflation is to invest, it's not wise to save all our money in the bank because only banks will be benefited more on that as they have the right to use our money in their business which would bring them profit. Think outside the box and see the real situation of the world now, if we do not take a chance to invest we will not gonna get our ultimate goal to have a financial freedom.

When I'd learn bitcoin and see this past few months how it is possible to get more savings in btc,I withdraw and transfer my saving in bank account to my wallet for I we all know that btc will pump again and good since we're the one who can monitor and controls it anytime.

[The_Dark_Knight]

whether you agree or disagree that this is positive - banks also serve a "bigger" purpose



http://positivemoney.org/how-money-works/how-banks-create-money/

Yes indeed, fractional reserve is how banks make profit and how boom and bust cycles are fueled. Is it a big purpose? Yeah. But it's definitely negative. This plus the government insuring deposits mean that banks can essentially do whatever they want, lend to subprime mortgagees etc. like what happened in 2008, because they know they can do fractional reserve and governments will bail them out if anything bad happens.

So essentially, you have the government controlling laws and regulations, as well as the monetary supply itself. But you've also got bankers that control monetary supply. So the whole idea of central banking is quite delusional and f***'d up, i'm surprised why anyone still believes that this is how the future should be. It's obvious that bitcoin is a better alternative, people are just reluctant to use it.

Correct, it is insane, central banks print money, but most of the money is printed by private banks, how can we leave one of the most important things in the entire economy to a bunch of guys that only care about benefiting themselves, bitcoin solves that issue and lot more and leaves banking as an old relic that is not necessary.

[Zemangat]

I do not like banks because of the monthly fees charged to bank customers. As well as complicated administrative costs .. once I created a local bank account. Where I have to fill the administrative form that sangay many and complicated. In the room I had to wait for the queue to be able to submit my form. I do not like to wait .. after that there are some administrative costs that I have to pay off. There is also a monthly fee. Taken from savings funds. That's what irritates me. For transfers also have to pay a fee .. I better save in bitcoin more simple and more profitable

[raven7886]

I do not like banks because of the monthly fees charged to bank customers. As well as complicated administrative costs .. once I created a local bank account. Where I have to fill the administrative form that sangay many and complicated. In the room I had to wait for the queue to be able to submit my form. I do not like to wait .. after that there are some administrative costs that I have to pay off. There is also a monthly fee. Taken from savings funds. That's what irritates me. For transfers also have to pay a fee .. I better save in bitcoin more simple and more profitable

Thank you for reminding me. I am too facing all the problems you have mentioned with banking system. But I am continuing them because I got practice to those problems of banking system. I believe we need some more time to completely quit our traditional banks so that we can depend on only bitcoin payment system. I'm eagerly waiting for such type of days so that we can lead a life a complete problem free from our banks.

[mulde]

they are speculating and misusing our dirty fiat, thats why i like btc

[Willitivity]

In a s much as I have some couple of issues with the bank, I can't decide not use their services any longer.
In my country, bank charges you for everything from monthly charges to SMS alert charges, ATM card maintenance charges, withdrawal fees for using other banks ATM and other minor charges.
It all sucks, but then, I can't withdraw my money and bury it in the soil, so I gotta keep on using bank

[ss890]

They will not leave a chance to charge you back with suspicious transaction. Tell me first thing, is there any rules or regulations about bitcoin? no! Then you are using the bitcoin the way you want it, or you are earning it the way you want it. So, if you can do that with no restrictions then why banks would not come up with strictness in their policy when you withdraw big anonymous amount into it. This sounds okay to me but nkt good for us. The on,y thing bitcoin makes me positive is it will be soon available over thousands of shops for goods and services leaving us opportunity to spend with few decentralised proof regulations.

[zulkarnaen]

Maybe bank is different from bitcoin, if bitcoin is controlled by the owner of our wallet and doesnt complicate the transaction, of course this is different from bank that always controlling money from people and sometimes feel uncomfortable doing transaction.dan always be and subject to government rules

[CryptoGeneral]

It is convienient to have a bank account. At the one hand it is not really your money since you don't have control over it. At the other hand the bank is providing security up to a certain level of protection for the customers. Problem is noone is protecting you from the bank. I don't think that government control is sufficient both sectors are too close.

[Hui8]

Yeah very big devils and money suckers. They will levi a charge on you with every transaction that you make with credit card or other cards. Plus they will gain you big money to lend to other investors and will pay you penny interest for that money to put into bank. But this interest rate is smaller than all the charges that bank takes from you which means it is useless to put your money into banks. They are annoying.

[Przemax]

I see that people are feeling bad about the bank using their money. But basicly its abusing people money, using it as a collateral on 10:1 or more levarege basis to borrow more money. If the money would be used wisely, noone would have any hard feelings about it. Right now the money that are in a bank should not be treated as collateral because it does not belong to the bank and can easily lose its collateral status.

That is all a basicly a fiction that is based on statistic and mathematic basedl ficticious economical models. I do not have to say what my feelings are about that.