Why do you trust bitcoin over banks and love bitcoins, more and more?

[iram1011]

Bitcoin is indeed beautiful monetary system. It is decentralized, anonymous, transparent, gives freedom to people to control their money etc etc. We all know that. But abandoning bank for Bitcoin would be a stupid move as for now. And I think most of the people here who are saying "Bank Sucks" definitely have accounts in bank and most probably would be linked to their Bitcoin wallet. You simply can't abandon banks as for now and shift to cryptos. That is the reality.

We all know that Bitcoin's future is still uncertain. Just like China, your country if took some drastic steps against cryptos, your investment will be gone in a day. Banks might be not very moral. But a country can't survive without them and so the citizens of that country.

Bitcoin and banks both are important.

[AlienSeeker]

I trust bitcoin over banks because bitcoin is decentralized. It is more convenient to use and it has more advanced technology. In banks, it is not that profitable, while if you use bitcoin, you can have profits everyday if it is getting higher every hour or every day. Bitcoin is more trustworthy than of banks.

[Hazir]

For me, the banks for sucks because they tend to control everything, period!

Banks tend to be control freaks not without reason, they are heavily regulated by banking law.
I don't think that bitcoin will remain unregulated when we will follow the patch of going mainstream too.

Perhaps, you had better experience with traditional banking system way better than bitcoins.

It is no secret that bitcoin user experience tends to be pretty complicated and not always amazing. You see - bitcoin is not an idiot-friendly system, and frankly, most people are idiots.
Core example - if someone sends money to the wrong account - he can contact his bank and fix everything. With bitcoin, you don't have such luxury at all.

[BitcoinPanther]

One thing i like about Bitcoin is that I hold my own coins.  This means I do not have to trust anyone to hold my money for me.  Aside from that Bitcoin have thousands of nodes to verify transaction and the network is secured by huge hashes.  The blockchain is public and I can see my own balance with it and I can send it anywhere in the world with minimal fee even if I have to send a huge amount.  I don't need to give out my personal detail everytime I moved my coins.  That is the reason why I trust and love bitcoins more.  

[rasmadisulaiman]

I prefer bitcoin because it is transparent, decentralized and free of charge monthly. I do not trust the bank, although I am a bank service user but I do not like the Bank policy.

[0t3p0t]

For me, the banks for sucks because they tend to control everything, period!
The bitcoin is fast, secure, decentralized, gives total control and freedom to the people.
Perhaps, you had better experience with traditional banking system way better than bitcoins.

Share with us what you think? thanks

Interests, tax  and transactions in banks really sucks. In Bitcoin, due to volatility we earn more profits and there is no tax, transactions are fast anytime and  anywhere in the world. Bitcoin is more safe than banks because it is decentralized far from spionage and is not prone to muggers. Less fortunate people like me can't afford banks because I am unemployed while in Bitcoin regardless of social status we can earn decent amount of Bitcoin without leaving our home.

[yishak]

I trust and prefer bitcoin over banks cause simply bitcoin is Peer-2-Peer. When making a transaction I font have to wait for long durations with bitcoin my transactions usually happen in under 30minutes. Also Banks have more fees than bitcoin.

[Jemzx00]

Well for me,  banks is better in case of securing your money since they have rules and regulations for it. Bitcoin is better if you want to secure your money while making it grow but it there's a chance for it fail and make your money lesser and lose some. So its better to take bitcoin as investment and bank for security for money.

[perla]

i trust bitcoin but i need bank to save my money. because i don't have any other place to save my money. and i have experience get hacked so i sometime cashout my coins because i afraid to lose it again, so i pick both and ya i need bank and bitcoin

[bettercrypto]

I definitely trust Bitcoin over banks because no one holds my fund except me. Even the developers do not have any access to my coins.  Network is very secure and it is very hard to hack Bitcoin.  Aside from that the earnings from holding Bitcoin is way higher than the earnings  if we deposit our money to banks.  There is also a chance that a huge part of our money in banks would disappear once banks declares bankruptcy.  This does not happen in Bitcoin.

[zarados]

Actually, I trust bitcoin as investment and as time to time I am making a lot of profit from it, ofcourse I will love it more than before. But I still use the bank for my daily transaction, because bitcoin are still unknown at my place. But for investment, I thought banks interest are unfare. Its under 7% /year now, while we could reach a 100% peofit with bitcoin with just a month.

[gribble]

I am believe in bitcoin and digital currency than banks, because bitcoin is good place to store the value of currency, it will be rise up in the future, on bitcoin no need verification identity to store bitcoin but i must give everything when put the money on the banks, i must give everything into the banks all of my money, my access limited to take my money daily from the banks and the banks give me inflation because of put my money on there.

[kevoh]

The hidden bank charges!  I will take Bitcoin over the banks just for that. With bitcoin, I know the only thing I can contend with is just the transaction fee but with the banks I get charged for everything even the SMS that shows my account balance is charged for a fee.

[pinkflower]

Oh please. Banks dont suck, they are in fact the very institution thats making life very convenient for you. The real reason why we think BTC is better is because it can make us rich if the value goes up! Banks cant and wont do that for you.

[uztre29]

I love Bitcoin because it is decentralized. Bitcoin’s system is a peer to peer payment system. There is no third party or central authority involved. Trades only occur between the users through automated process. Our funds are held by us in our personal wallets and not by a central authority so we do not have to worry.

[Brokerstar]

I like the idea of being able to fly away on holiday and have a million pound (worth of crypto) in my pocket, no questions asked!


Although I still have to figure out how to get a million pounds worth of anything 😂

Nice thought though.

[timerland]

For me, the banks for sucks because they tend to control everything, period!
The bitcoin is fast, secure, decentralized, gives total control and freedom to the people.
Perhaps, you had better experience with traditional banking system way better than bitcoins.

Share with us what you think? thanks

Bitcoin is decentralized, and fair. This is the exact opposite of what banks are doing, which is essentially the exact opposite.

Central banks around the world have the ability to create extra currency out of thin air without the consent of the citizens. Bitcoin is backed by hard code, and there is a limit on the amount of coins that can ever exist.

This is why i'd choose btc over fiat(issued by a central bank) any day of the week.

[wildet60]

As of now bitcoin yields more. Asset stays in our hands. Don't have to pay taxes on interest earned.

[cybersofts]

I see people have trusted bitcoin more than banks these days. hahaha
Imagine what will happen in the next 20 years, I think some of our kinds will know about the banks in the future.
Perhaps, we might give some stories about banks during bed-time stories, LOL ;P

[aardvark15]

For me, I think the banks sucks because they tend to control everything, period!
The bitcoin is fast, secure, decentralized, gives total control and freedom to the people.
Perhaps, you had better experience with traditional banking system way better than bitcoins.

Share with us what you think? thanks

I have mixed reactions to both based on my experiences but I do believe in the potential of Bitcoin.

Banks, especially the big corporate banks, are all about making money at the expense of the average person. They get legislation changed in their favor and get benefits like low rates for them to borrow from the government and government bailouts because they are "too big to fail." They also gave bad mortgages to customers and then foreclosed. Plus they charge high rates for credit cards.

Bitcoin is not a business and therefore doesn't get a profit. It is not directly tied to any government which is a big positive. There are two things that I don't like about Bitcoin though. One is that I lost money on Cryptsy when they failed and there is no way to go put Paul Vernon in jail because no government authorities will go after them. The other thing is the fees could get high and there is nothing we can do to limit that because we need the miners.