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Author Topic: BITCOIN FIRST BEFORE YOUR BANK  (Read 3691 times)
adesotade
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October 27, 2017, 10:20:08 AM
 #1

 Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?
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October 27, 2017, 04:22:03 PM
 #2

Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?
It is too early, because Bitcoin is not accepted for paying bills, flats, supermarkets, electricity, taxes and so on. But in principle I would agree for the one reason: It is decentralized and no authority needed.

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October 27, 2017, 04:29:25 PM
 #3

Bitcoin is my preferred payment method online, but I still need to use my bank as well. Bitcoin is not supported in my country and in the most famous marketplaces worldwide, so using banks is our unique choice. But I agree that Bitcoin have a lot of powerful features making it better than banks.

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October 27, 2017, 05:17:18 PM
 #4

Bitcoin is my preferred payment method online, but I still need to use my bank as well. Bitcoin is not supported in my country and in the most famous marketplaces worldwide, so using banks is our unique choice. But I agree that Bitcoin have a lot of powerful features making it better than banks.

Then why not banks are not ready to give a power to the bitcoin in their transaction since bitcoin decentralized and independent platform. Whether the bitcoin is supported in your country or not you will the traders in your location to exchange the bitcoin for fiat cash. You may find them in online. Citibank announce few months before they create a own coin and adopt the blockchain technology.

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October 27, 2017, 05:35:49 PM
 #5

Bitcoin is my preferred payment method online, but I still need to use my bank as well. Bitcoin is not supported in my country and in the most famous marketplaces worldwide, so using banks is our unique choice. But I agree that Bitcoin have a lot of powerful features making it better than banks.

Then why not banks are not ready to give a power to the bitcoin in their transaction since bitcoin decentralized and independent platform. Whether the bitcoin is supported in your country or not you will the traders in your location to exchange the bitcoin for fiat cash. You may find them in online. Citibank announce few months before they create a own coin and adopt the blockchain technology.
Just as expected for those banks to do such thing which they would rather create their own token than on deciding on adopting bitcoin.They wont really do such thing because they know that bitcoin is a decentralized stuff and cant really be controlled nor to be able to impose tax.When we do compare regarding on our freedom when it comes on our money possesion and control then bitcoin would really be the best thing since it do gives the full control without any 3rd party involved but yet its usage is still limited due on not total adoption.

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October 27, 2017, 05:46:51 PM
 #6

One may dream, but we're not quite there yet. Ignoring the scalability issue, we still have following challenges to face:

1) Bitcoin is still too volatile for storing all your funds, including rent and utility costs.
2) Acceptance rate is still way too low for comfortable day to day usage.
3) You still need fiat to pay your taxes.

Most of this is likely to improve over time, but arguably we'll never get fully rid of fiat, as our global economy is based on it. And unless you get rid of fiat, you'll always have to work with banks to some extend.

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October 27, 2017, 06:11:02 PM
 #7

The first point is the reason why everyone is holding Bitcoins, anyway it's risky and we know about the risks, we are aware about it and must take the risks. But there is a negative point: We are subjugated to regulations, your country just need to order something and you will have to accomplish.

It helps especially third world countries now, but I'm not sure if it's enough to end the cycle of poverty and misery.

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October 27, 2017, 06:11:17 PM
 #8

Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?
It is too early, because Bitcoin is not accepted for paying bills, flats, supermarkets, electricity, taxes and so on. But in principle I would agree for the one reason: It is decentralized and no authority needed.

Agreed. We need Bitcoin to be a lot more versatile in terms of where it is accepted and such. If Bitcoin were able to be accepted by marketplaces online as well as places physically, that is, if it had the same use case as fiat, then I could see the coin being used as much as fiat and bitcoin having more advantages than banks. Currently, we aren't exactly there yet, but we should soon.

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October 27, 2017, 06:12:33 PM
 #9

Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?

Well you listed some of the convenience of having bitcoin and I'm glad that a newbie like you have found bitcoin and has the knowledge about it. Having bitcoin is our wallet is like having our own bank. That's how bitcoin is designed. Its p2p with no third party involved (banks). But bitcoin is still in its infancy and don't think that bitcoin could eliminate banks. No, it won't and the best thing for us is to truly take advantage of both sector. Banks has already established itself to the society and no amount of effort from bitcoin community could overrun them and make it obsolete. Banks are not the enemy here. They are still a tool that every society needed. But with bitcoin, we have somewhat enjoy financial freedom from them.

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October 28, 2017, 06:59:30 AM
 #10

Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?

hope so
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October 28, 2017, 07:25:03 AM
 #11

Storing bitcoins at home is like having an own small bank at home. But just with no other one knowing about it and noone being able to fraud on me.
You already mentioned positive aspects of bitcoin and i totally agree with you. I really hope cash will get replaced by crypto currencies (hopefully bitcoin, but dont think so).
After governments introduce crypto currencies which wont be decentralized, i think bitcoin will also have a big rise since people will start to value
(decentralized) cryptographically proven transactions made within seconds.

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October 28, 2017, 06:03:13 PM
 #12

2. Your future is in your hand, you can plan ahead and forecast.
4. You control your wealth and you are not subject to regulations that milk up your funds.
Although bitcoin have many advantages but these two points you have stated aren't satisfying.
Referring your first point how can you forecast when bitcoin has volatile price and you don't know what will be the price tomorrow.
Now for second point The fact is we can't control our wealth in bitcoins because of its volatile price which kept on changing with time.



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October 28, 2017, 09:22:42 PM
 #13

If I can do without the banks, I will. Bitcoin is far more beneficial than having anything to do with the banks who would rather drain your funds with hidden and open charges. Bitcoin transaction charges is low. It is relatively more stable in comparison to economies under recession. I  sure keep it ahead of the banks.

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October 29, 2017, 12:00:04 AM
 #14

Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?
It is too early, because Bitcoin is not accepted for paying bills, flats, supermarkets, electricity, taxes and so on. But in principle I would agree for the one reason: It is decentralized and no authority needed.

Agreed. We need Bitcoin to be a lot more versatile in terms of where it is accepted and such. If Bitcoin were able to be accepted by marketplaces online as well as places physically, that is, if it had the same use case as fiat, then I could see the coin being used as much as fiat and bitcoin having more advantages than banks. Currently, we aren't exactly there yet, but we should soon.
Yes I agree with you but the problem is that we don’t have so much money to use both the bank and the bitcoin because of the limited income and high expenses of daily life. I think investment in bitcoin needs extra money from your daily expenses and the little which is for our use cannot be invested in bitcoin. So we will have to keep them in banks for immediate use and easily withdrawal.
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October 29, 2017, 02:30:00 AM
 #15

Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?
It is too early, because Bitcoin is not accepted for paying bills, flats, supermarkets, electricity, taxes and so on. But in principle I would agree for the one reason: It is decentralized and no authority needed.
Here in my country we can used bitcoin to pay our bills, loading our mobile and we can used bank to deposit and withdraw. Me i used to save my 10% of my salary in the bank and the excess of that are saving in bitcoin even i know that saving in bitcoin is much better income to generate i keep much of my money in bank for safe way Because i do not like to risk my big amount of money with little savings in bank.

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Olis1000
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October 29, 2017, 04:47:59 AM
 #16

Personally I will prefer to have my money placed on bitcoin for growth rather than placing in the bank..in bitcoin my money grows everyday

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October 29, 2017, 01:55:03 PM
 #17

Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?
I would not recommend you to invest all your money in Bitcoin as Bitcoin is not as popular or as stable as the money in your banks. Bitcoin acceptance is very very limited and it would take more than 10-20 years for Bitcoin to be used on a regular basis by everyone.
But, without any doubt, it is one of the fastest growing investments available in the market. It has alot of potential to grow in future and you can earn high profits by investing and holding Bitcoins.
i would recommend you to invest in Bitcoin but not more than 20 percent of your investment as Bitcoin is very volatile.

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October 29, 2017, 09:05:18 PM
 #18

Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?

In deciding which one you want to go for, there is need to understand the various odds of each option. There are both advantages and disadvantages embedded in them but for me, I would want to diversify rather than keeping in one and the reason is because while bitcoin could be good for the purpose of store of value due to the amount of return that could accrue cannot be compared to what can come from keeping in bank.

However, looking at the transactionary motive of keeping money the banks will take the lead because of the issue of legal tender which bitcoin is yet to achieve at this present moment. In the future, its might get to that point but not currently.

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October 29, 2017, 11:29:31 PM
 #19

saving your own money in a nice btc wallet because the btc value is very easy to change and even higher than the first you get it, but I also keep using the bank to save half of my income.
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October 30, 2017, 12:47:30 AM
 #20

Bitcoin can be a powerful bank warehouse, because banks have decent interest rates and bitcoin can be a capital to store the wealth we collect without the slightest bit. Maybe the future of bitcoin will be the most powerful financial asset.
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October 30, 2017, 12:59:30 AM
 #21

One of many reasons why it isn't a good idea to invest all your assets into Bitcoin is because of its volatility. Also, I do agree with most of your reasons. But some countries banned cryptocurrencies altogether which might be a risk if you are caught. All in all, Bitcoin is still a good investment if you have a good extent of knowledge about it.

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October 30, 2017, 04:07:46 AM
 #22

Bitcoin is more than important to me and to show that I keep avoiding using direct bank transactions if this requires fee. But that’s makes me into using a bank cash-out with zero fee. That way I feel like I’m using the banks the same way they’re using me before. They can’t have money on at the same time I can abuse to use they’re automatic teller machine over and over again.

This is my way is saying, “You can’t benefits from me but other way around”.
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October 30, 2017, 05:52:45 AM
 #23

Bitcoin is more than important to me and to show that I keep avoiding using direct bank transactions if this requires fee. But that’s makes me into using a bank cash-out with zero fee. That way I feel like I’m using the banks the same way they’re using me before. They can’t have money on at the same time I can abuse to use they’re automatic teller machine over and over again.

This is my way is saying, “You can’t benefits from me but other way around”.

I dont think it is even beneficial for a certain economy if they dont have transcation fees. What if big corporations would use bitcoin, then they will just have a free transaction and in some sense only businessmen would get rich and not the governments' economy. for me it is also good to have transaction fee not just for big transactions but also to at least maintain the richness of a certain government.

                                     
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October 30, 2017, 07:40:08 AM
 #24

I think there is no such thing as total security in Bitcoins, talking about being futuristic. Why? Because it exists with no legal back up and we never know when governments will altogether act on it and ban it all at the same time. If banks will come up with a mechanism to block all withdrawal transactions with the use of their ATMs, that will be a big problem for all Bitcoin users. All Bitcoins, then, become frozen. And what if one put all his hard earned money in Bitcoins and the latter gets frozen? That is the situation that is too difficult to deal with. This is one thing that banks have over Bitcoins for the former has sort of a guarantee to all those who invest on them.

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October 30, 2017, 07:45:22 AM
 #25

Bitcoin is more than important to me and to show that I keep avoiding using direct bank transactions if this requires fee. But that’s makes me into using a bank cash-out with zero fee. That way I feel like I’m using the banks the same way they’re using me before. They can’t have money on at the same time I can abuse to use they’re automatic teller machine over and over again.

This is my way is saying, “You can’t benefits from me but other way around”.

I dont think it is even beneficial for a certain economy if they dont have transcation fees. What if big corporations would use bitcoin, then they will just have a free transaction and in some sense only businessmen would get rich and not the governments' economy. for me it is also good to have transaction fee not just for big transactions but also to at least maintain the richness of a certain government.

Nope because they can’t. This transaction is limited only for 2000$ per month. Then it won’t be beneficial to a big corporation. Maybe I forget to put this details or have not a clue if it it is necessary at first. I’m no against the government having regulation with bitcoin, I’m even a supporter to it. This is not intended for the government but for the greedy banks officials in monopolising the financial institutions in each country.
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October 30, 2017, 03:12:24 PM
 #26

Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?

My take is better investing in bitcoin  than investing all your asset in the bank,even sometimes  theres happening failure in times of trading in bitcoin, but that a part of business we take the risk,unless you can earn high profit not like in the bank you invest money,but in a one year you can earn  only 1% of your total investment .bitcoin is better  than the bank in terms of profit,value,and percentage.

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October 30, 2017, 06:09:42 PM
 #27

One of many reasons why it isn't a good idea to invest all your assets into Bitcoin is because of its volatility. Also, I do agree with most of your reasons. But some countries banned cryptocurrencies altogether which might be a risk if you are caught. All in all, Bitcoin is still a good investment if you have a good extent of knowledge about it.

Those countries banned the ICO token sale buddy not the complete bitcoin community and its platform. Since the ICO is not a trusted source to invest all the time. We can say some of the trusted ICO goes good but mostly failure is case for many investors.
There are many countries started accepting bitcoin and making it as legal in this you consider China and Korea's ICO ban means it is completely waste of time. Adoption by bank will give good shows and stable value instead of the international shares.



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October 30, 2017, 10:58:32 PM
 #28

Bitcoin can be a powerful bank warehouse, because banks have decent interest rates and bitcoin can be a capital to store the wealth we collect without the slightest bit. Maybe the future of bitcoin will be the most powerful financial asset.
bitcoin is very different from banks,
if we save in the bank, sometimes bigger than interest,
but other with bitcoin,
bitcoin tends to give more profit,
because the price always doubled.
but I do not believe if bitcoin will replace the state bank.
because there are still many people who are afraid to keep their money in bitcoin



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October 30, 2017, 11:26:13 PM
 #29

Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?

1. Yes you do, but there is also that big possibility that it will turn to nothing.
2. You cannot predict the volatility of bitcoins, so how do you plan and forecast?
3. Somewhat true, can't argue very much about the fundamentals of bitcoin transactions.
4. Yeah you do control it, but regulations do not discriminate and bitcoins are still within the reach of the law.
5. Well, if hyper inflation does happen then your bitcoins would likely be hard to trade in those countries.
6. Uhh, how did bitcoins eliminate poverty? How can the poor invest into crypto currencies if they do not even have money to buy BTC.

I guess the thing here is that bitcoins are not perfect like everything else, but it can help in some aspects. I am not against it, but I'm a critic. Do not get me wrong, I'll live and die by bitcoins, but it is something I want to change the notion of people about it. It is not just an investment tool nor something to escape your government. The true intention of it is a global medium of payments. Something that would transcend the bounds of current fiat currencies.

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October 31, 2017, 12:22:59 AM
 #30

One of many reasons why it isn't a good idea to invest all your assets into Bitcoin is because of its volatility.

Going all in is never a good idea, so that isn't just related to Bitcoin. That being said, if you buy yourself into Bitcoin for the long term (i.e. at least 4-5 years), why would you then care about the short term volatility? It doesn't really make sense to me. I see a lot people say that the volatility is a 'big problem' for holders, but that's obviously a wrong mindset. Just look at how much volatility we have gone through in the last years, and look at what the price today is. In easy terms, short term volatility isn't a problem at all for long term holders -- people for once just need to understand that.

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October 31, 2017, 02:13:49 AM
 #31

In form of investment yes for me, i do investment in bitcoin that banks because i know and i experience the big difference of bitcoin and bank i can gain fast and big profit in bitcoin even it is very risky i give more trust in bitcoin but i do not put all of my asset here because there is a possibility that bitcoin will disappear and our investment will never back.

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October 31, 2017, 03:50:50 AM
 #32

Personally I will prefers using both bitcoin and banking for my transactions It is not advisable to invest all your money in bitcoin due to it's instability and volatility of the price presently bitcoin is on the rise but who knows what is going to happen to the price in few years to come? I will rather share my investment into two 50% saved in the bank and 50% for bitcoin.
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October 31, 2017, 11:17:17 AM
 #33

As for me, I always strike a balance between Bitcoin and bank.
Keep as much in Bitcoin and also enough in bank.
Since Bitcoin can't be used for payments offline, I still need my bank a whole lot.


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beerlover
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October 31, 2017, 11:54:57 AM
 #34

Bitcoin is more than important to me and to show that I keep avoiding using direct bank transactions if this requires fee. But that’s makes me into using a bank cash-out with zero fee. That way I feel like I’m using the banks the same way they’re using me before. They can’t have money on at the same time I can abuse to use they’re automatic teller machine over and over again.

This is my way is saying, “You can’t benefits from me but other way around”.

I dont think it is even beneficial for a certain economy if they dont have transcation fees. What if big corporations would use bitcoin, then they will just have a free transaction and in some sense only businessmen would get rich and not the governments' economy. for me it is also good to have transaction fee not just for big transactions but also to at least maintain the richness of a certain government.
Well, that is the main reason governments would not accept it as a main currency and will try by all means so it does not get fully adopted without it being controlled one way or the other or without making sure that fiat still takes the larger chunk of the day.
Just like you have raised, with big companies making use of it, it may be a cause for concern, however, if it is taxed for transaction purpose or exchanging to fiat, i see no way the government won't still benefit.

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October 31, 2017, 01:58:06 PM
 #35

I think there is no such thing as total security in Bitcoins, talking about being futuristic. Why? Because it exists with no legal back up and we never know when governments will altogether act on it and ban it all at the same time. If banks will come up with a mechanism to block all withdrawal transactions with the use of their ATMs, that will be a big problem for all Bitcoin users. All Bitcoins, then, become frozen. And what if one put all his hard earned money in Bitcoins and the latter gets frozen? That is the situation that is too difficult to deal with. This is one thing that banks have over Bitcoins for the former has sort of a guarantee to all those who invest on them.
The legal back up is one thing that would still be a thing that most government would want to consider pretty well before making the step. Sure, some countries have taken the bold step and they are already regulating it which over time will serve as a study of a real life situation in a country and how it can be curtailed without being wrongly used.

However, I do not see how banks want to come up with a mechanism to stop it except exchanges all over the world gets shut down and then everyone is at the mercy of P2P transactions.

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October 31, 2017, 03:22:47 PM
 #36

saving your own money in a nice btc wallet because the btc value is very easy to change and even higher than the first you get it, but I also keep using the bank to save half of my income.
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October 31, 2017, 03:32:11 PM
 #37

As for me, I always strike a balance between Bitcoin and bank.
Keep as much in Bitcoin and also enough in bank.
Since Bitcoin can't be used for payments offline, I still need my bank a whole lot.
Yeah we realize that, we still need a bank to save money to be used for offline transactions, but I am the opposite of you. I save more money on BTC, because after all I have money from bitcoin, so I'm well enough to keep my btc in my wallet, just hoping someday I'll earn a very good profit from my btc savings.



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October 31, 2017, 04:31:04 PM
 #38

One of many reasons why it isn't a good idea to invest all your assets into Bitcoin is because of its volatility.

Going all in is never a good idea, so that isn't just related to Bitcoin. That being said, if you buy yourself into Bitcoin for the long term (i.e. at least 4-5 years), why would you then care about the short term volatility? It doesn't really make sense to me. I see a lot people say that the volatility is a 'big problem' for holders, but that's obviously a wrong mindset. Just look at how much volatility we have gone through in the last years, and look at what the price today is. In easy terms, short term volatility isn't a problem at all for long term holders -- people for once just need to understand that.
You'd never know when the price will hit rock bottom, so it is never a good idea (if you ever will) to invest everything that you have on Bitcoin. Also, I never said that short-term volatility is a problem. My point was, you need to keep your investments in balance.

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November 01, 2017, 08:25:02 AM
 #39

One of many reasons why it isn't a good idea to invest all your assets into Bitcoin is because of its volatility. Also, I do agree with most of your reasons. But some countries banned cryptocurrencies altogether which might be a risk if you are caught. All in all, Bitcoin is still a good investment if you have a good extent of knowledge about it.
I like investing in bitcoin the most because the banks has only the safe place for meeting money and investment in bitcoin means a currency business. For me definitely bitcoin is on the first place and bank is on the second because I will need some money for my daily expenses and for that I will use my local bank.

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November 01, 2017, 03:24:31 PM
 #40

One of many reasons why it isn't a good idea to invest all your assets into Bitcoin is because of its volatility. Also, I do agree with most of your reasons. But some countries banned cryptocurrencies altogether which might be a risk if you are caught. All in all, Bitcoin is still a good investment if you have a good extent of knowledge about it.
I prefer investing in bitcoin the most because the banks has only the safe place for keeping money and investment in bitcoin means a currency business. For me definitely bitcoin is on the first place and bank is on the second because I will need some money for my daily expenses and for that I will use my local bank. Bitcoin is a new world opportunities of earning more and more money. Banks and bitcoin are two different things.

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November 01, 2017, 05:55:22 PM
 #41

Bitcoin is more than important to me and to show that I keep avoiding using direct bank transactions if this requires fee. But that’s makes me into using a bank cash-out with zero fee. That way I feel like I’m using the banks the same way they’re using me before. They can’t have money on at the same time I can abuse to use they’re automatic teller machine over and over again.

This is my way is saying, “You can’t benefits from me but other way around”.

I dont think it is even beneficial for a certain economy if they dont have transcation fees. What if big corporations would use bitcoin, then they will just have a free transaction and in some sense only businessmen would get rich and not the governments' economy. for me it is also good to have transaction fee not just for big transactions but also to at least maintain the richness of a certain government.

Nope because they can’t. This transaction is limited only for 2000$ per month. Then it won’t be beneficial to a big corporation. Maybe I forget to put this details or have not a clue if it it is necessary at first. I’m no against the government having regulation with bitcoin, I’m even a supporter to it. This is not intended for the government but for the greedy banks officials in monopolising the financial institutions in each country.
Yes. In fact regulation will even bring more positivity and insanity to the community. The value still cannot be controlled but every activity revolving around it can. The rate at which monopoly is being done in the banking system is just pretty messed up and this can change a whole lot of things.

One thing is the government will always find a way to monitor things most especially since fiat still remains in control and you still have to exchange at some point.

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November 01, 2017, 10:35:22 PM
 #42

Indeed bitcoin is much better investment vehicle than in the banks who exploits, oppress and control your money with lots of useless regulations before using your own money where in bitcoin you have control in your transaction without worrying if being track by an third party. One thing i have to correct is bitcoin already graduated from volatility so the price may go down but not that big.

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November 02, 2017, 06:21:34 AM
 #43

Indeed bitcoin is much better investment vehicle than in the banks who exploits, oppress and control your money with lots of useless regulations before using your own money where in bitcoin you have control in your transaction without worrying if being track by an third party. One thing i have to correct is bitcoin already graduated from volatility so the price may go down but not that big.

Your totally point it out. This banks are like crocodiles when it comes to profits. They are legally given the license to on cheating the depositors/investors by giving small interest while they have the big profits. It’s like you, I will used your deposited money and invest it. I will give you 1% interest and I will getting the 99% profits. That’s greediness and corrupted the financial system that we’re living for.

Bitcoin is more than an investment to us but an opportunity to get out from our shells.
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November 02, 2017, 11:38:08 AM
 #44

Indeed bitcoin is much better investment vehicle than in the banks who exploits, oppress and control your money with lots of useless regulations before using your own money where in bitcoin you have control in your transaction without worrying if being track by an third party. One thing i have to correct is bitcoin already graduated from volatility so the price may go down but not that big.

Your totally point it out. This banks are like crocodiles when it comes to profits. They are legally given the license to on cheating the depositors/investors by giving small interest while they have the big profits. It’s like you, I will used your deposited money and invest it. I will give you 1% interest and I will getting the 99% profits. That’s greediness and corrupted the financial system that we’re living for.

Bitcoin is more than an investment to us but an opportunity to get out from our shells.
That's the fact, but with banks we don't have the risk same as bitcoin. With bitcoin we're not sure about the tomorrow, however safe we keep hold of the bitcoin doesn't matter. Looking the ongoing growth it won't happen, still it keeps the users on a dilemma. This is why common people prioritize banks even when it provides very small percentage as interest.

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November 02, 2017, 12:56:02 PM
 #45

One of many reasons why it isn't a good idea to invest all your assets into Bitcoin is because of its volatility. Also, I do agree with most of your reasons. But some countries banned cryptocurrencies altogether which might be a risk if you are caught. All in all, Bitcoin is still a good investment if you have a good extent of knowledge about it.
The volatility of course is a very concerning issue and sometimes we just have to deal with that risk.

The fear of if I buy now, will it reduce hugely or if I hold on, will it increase hugely any minute is a crazy thing.
All the above, for a growing coin, it is something that should be expected most especially with all the recent developments revolving around it presently.
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November 02, 2017, 02:29:09 PM
 #46

One of many reasons why it isn't a good idea to invest all your assets into Bitcoin is because of its volatility. Also, I do agree with most of your reasons. But some countries banned cryptocurrencies altogether which might be a risk if you are caught. All in all, Bitcoin is still a good investment if you have a good extent of knowledge about it.
The volatility of course is a very concerning issue and sometimes we just have to deal with that risk.

The fear of if I buy now, will it reduce hugely or if I hold on, will it increase hugely any minute is a crazy thing.
All the above, for a growing coin, it is something that should be expected most especially with all the recent developments revolving around it presently.

If you want a good return in future you have to take high risks,nothing in this world is risk free.And the investment should be in the longterm if you just buy and sell and buy again it doesn't give you any profit.But i agree with you that don't invest all your money into just bitcoin because no one knows what is gonna happen in the future.So invest all your excess money into bitcoin i hope that it will return with high profits in future.
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November 02, 2017, 03:59:28 PM
 #47

Definitely,bitcoin would get more priority than bank.
In fact,bitcoin has been created to free people from the hands of bankers.
Bitcoin has made possible of sending money P2P without an intermediary bank at very low fee.
Bitcoin has given the opportunity of getting huge returns for their investments when they early had the option of investing their money mostly in banks and getting just a small percentage as interest.
That's why,banks are very much scared about the progress of bitcoin and treat bitcoin as their main rival.

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November 03, 2017, 07:37:30 AM
 #48

Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?
I would not advice you to take all your money out from banks and put it in crypto like Bitcoin simply because Bitcoin is neither as stable nor as widely accepted as the conventional money.
Moreover, Bitcoin can't work offline like money and the transaction charge high fees which makes them unsuitable to use for small transactions.
You can invest around 30 percent of your investments in crypto because they have a higher rate of growth.

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November 03, 2017, 08:40:59 AM
 #49

Indeed bitcoin is much better investment vehicle than in the banks who exploits, oppress and control your money with lots of useless regulations before using your own money where in bitcoin you have control in your transaction without worrying if being track by an third party. One thing i have to correct is bitcoin already graduated from volatility so the price may go down but not that big.

Your totally point it out. This banks are like crocodiles when it comes to profits. They are legally given the license to on cheating the depositors/investors by giving small interest while they have the big profits. It’s like you, I will used your deposited money and invest it. I will give you 1% interest and I will getting the 99% profits. That’s greediness and corrupted the financial system that we’re living for.

Bitcoin is more than an investment to us but an opportunity to get out from our shells.
That's the fact, but with banks we don't have the risk same as bitcoin. With bitcoin we're not sure about the tomorrow, however safe we keep hold of the bitcoin doesn't matter. Looking the ongoing growth it won't happen, still it keeps the users on a dilemma. This is why common people prioritize banks even when it provides very small percentage as interest.

Yes true, banks we don’t have risk as well as profit. Investments is a risk and a gamble that is for sure and everyone knows that. The future of bitcoin will depend on us the people/users/investors but the future of banks depend on the successful investments on banks. Never heard of a banks bankruptcy? Maybe you need more time to look for it.

Maybe new investors have dilemma not because of bitcoin itself but the way they managed they’re investments. Hope you can see the difference. Or you can’t still not see it then being a banker puppets are more be in demand now as they’re losing badly by cryptocurrency.
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November 03, 2017, 09:22:56 AM
 #50

Banks can use Bitcoin as a fast payment method in the banking industry all over the world to compete from other financial institution in near future. But people always give first priority to the banks followed by Bitcoin. If Bitcoin be fully legalized in the whole world then bank and Bitcoin will go in same way.

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November 03, 2017, 11:21:10 AM
 #51

Indeed bitcoin is much better investment vehicle than in the banks who exploits, oppress and control your money with lots of useless regulations before using your own money where in bitcoin you have control in your transaction without worrying if being track by an third party. One thing i have to correct is bitcoin already graduated from volatility so the price may go down but not that big.

Your totally point it out. This banks are like crocodiles when it comes to profits. They are legally given the license to on cheating the depositors/investors by giving small interest while they have the big profits. It’s like you, I will used your deposited money and invest it. I will give you 1% interest and I will getting the 99% profits. That’s greediness and corrupted the financial system that we’re living for.

Bitcoin is more than an investment to us but an opportunity to get out from our shells.

but bitcoin shouldn't be only as investment to us, in my opinion we should use bitcoins when we get moment to do so, to pay for food, pay for bills and so on. This way bitcoins will get even more popular.



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Rainbot
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November 03, 2017, 12:22:49 PM
 #52

Bitcoin is more than important to me and to show that I keep avoiding using direct bank transactions if this requires fee. But that’s makes me into using a bank cash-out with zero fee. That way I feel like I’m using the banks the same way they’re using me before. They can’t have money on at the same time I can abuse to use they’re automatic teller machine over and over again.

This is my way is saying, “You can’t benefits from me but other way around”.

I dont think it is even beneficial for a certain economy if they dont have transcation fees. What if big corporations would use bitcoin, then they will just have a free transaction and in some sense only businessmen would get rich and not the governments' economy. for me it is also good to have transaction fee not just for big transactions but also to at least maintain the richness of a certain government.

Nope because they can’t. This transaction is limited only for 2000$ per month. Then it won’t be beneficial to a big corporation. Maybe I forget to put this details or have not a clue if it it is necessary at first. I’m no against the government having regulation with bitcoin, I’m even a supporter to it. This is not intended for the government but for the greedy banks officials in monopolising the financial institutions in each country.
Yes. In fact regulation will even bring more positivity and insanity to the community. The value still cannot be controlled but every activity revolving around it can. The rate at which monopoly is being done in the banking system is just pretty messed up and this can change a whole lot of things.

One thing is the government will always find a way to monitor things most especially since fiat still remains in control and you still have to exchange at some point.
What do you mean by regulation can bring positivity and insanity? I don’t really get you, will be very much better if you can explain yourself.By the way if you think you’re making the right decision by putting all your money into Bitcoin and believing it is safe, then you’re deceiving yourself and making the wrong plan for your future.

Maybe making a little bit of research can help you understand what I’m talking about. Quantum computers are lurking around, so be careful, because government may decide to take a very bad move.

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yojodojo21
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November 03, 2017, 04:14:02 PM
 #53

I am eventually storing my Bitcoins in a wallet site (coins.ph).
I believe that storing bitcoins is better than Storing it to a bank which always message you every month that your payment should be paid to the given date  so on and more and anything.

A very Wise way to Invest or keep Money is converting it to bitcoin. Transaction Worry less and Not that big Fees Unlike banks. If i Withdraw money to other company of bank, I Really pay almost 10 percent of the amount I am going to withdraw.

As what OP Stated Bitcoin First because it will not fail before your bank will be Bankrupt.

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November 03, 2017, 04:50:03 PM
 #54

Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?
Banks and Bitcoin do really have differences thats why most people do know about bitcoin will surely make such decisions but would still depend.I cant say that most people did jump to bitcoin but theres still people who did able to put 50%-50% on both sides which is a wise move to do rather than on going all in on bitcoin alone. Theres always a risk but putting it on banks would be somehow lesser but also lesser on interest yet it is not really designed or sole purpose on making money even more if you do put your asset on banks.

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November 03, 2017, 06:55:39 PM
 #55

   Some time ago I decided to have money in bitcoin rather then in bank. I did not finish with buying,
investing in bitcoins. Price now is very high, I am thinking is it smart to wait some dip when price is
rising so high.
   After a lot of thinking I give advantage to bitcoin cause it is the future. Money in the bank just
losing value over time, with current inflation. Bitcoin for same time can make your investment very
profitable. I can not speak about numbers cause numbers depends from many factors.
   Bitcoin is becoming popular everywhere, price is rising and who miss opportunity to buy now will
regret in the future.

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November 03, 2017, 09:14:02 PM
 #56

Personally I will prefers using both bitcoin and banking for my transactions It is not advisable to invest all your money in bitcoin due to it's instability and volatility of the price presently bitcoin is on the rise but who knows what is going to happen to the price in few years to come? I will rather share my investment into two 50% saved in the bank and 50% for bitcoin.
It is a good strategy sir to handle your bitcoin and cash simultaneously, in our country you can deposit your cash into bitcoin and bitcoin into cash but it was depending on the wallet you used. So even bitcoin or bank first, both of them are my needed. That's why I don't need to choose only one.

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November 03, 2017, 10:58:46 PM
 #57

I am eventually storing my Bitcoins in a wallet site (coins.ph).
Wrong choice.

I believe that storing bitcoins is better than Storing it to a bank
Not if you make use of an online wallet service to store your coins. In that regard, your money/value is still being held by a central authority. There are enough solid wallet clients that will not require you to download the entire blockchain, but where you (as only entity) at all times be in full control of your private keys.

A very Wise way to Invest or keep Money is converting it to bitcoin.
Yes.

Transaction Worry less and Not that big Fees Unlike banks. If i Withdraw money to other company of bank, I Really pay almost 10 percent of the amount I am going to withdraw.
Lol. Not sure what bank you are using, but if they really charge you such ridiculous fees, you are being fooled, and that by huge magnitudes. I am not being charged anything when sending money back and forth within the country, and if done through SEPA, not even through various participating European countries.

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November 04, 2017, 02:05:10 PM
 #58

I am eventually storing my Bitcoins in a wallet site (coins.ph).
I believe that storing bitcoins is better than Storing it to a bank which always message you every month that your payment should be paid to the given date  so on and more and anything.

A very Wise way to Invest or keep Money is converting it to bitcoin. Transaction Worry less and Not that big Fees Unlike banks. If i Withdraw money to other company of bank, I Really pay almost 10 percent of the amount I am going to withdraw.

As what OP Stated Bitcoin First because it will not fail before your bank will be Bankrupt.

You kidding me? You storing your bitcoin in an exchange? That's a bad practice to begin with. Why not download Electrum if you want a lightweight wallet but very secured. Although there's no history or coins.ph being hacked, but we don't trust them specially putting huge amount of it because first, you don't have control of the private keys, second, if there's a chance of hack say bye bye to your coins. So if I were you, start moving your coins out, just leave enough for paying your bills or something, don't let your bitcoin sit there specially as I have mentioned, huge amount of it

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November 04, 2017, 05:13:37 PM
 #59

I agree with many things you said

Banks have some advantages and one of these advantages, they allow you to open insurance, such as life insurance, death insurance and many other insurance.

Banks are widely known and on the day of your death your family can go to your bank and benefit from what you have left.




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November 05, 2017, 12:46:39 PM
 #60

Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?
Everyone must have their own reasons why they want to invest their money by investing in bitcoin. and I think I'm very much in agreement with all the details you mentioned above in very detail. so I think some of the points you mentioned are true it is a form of profit that we will get by investing dibitcoin. all the things you mentioned are like an entity that has the conclusion that investing with bitcoin is a benefit and convenience can also be called with some other points. so I think if until now there are still people who do not agree with the benefits that can be by investing in bitcoin I think they do not know more about bitcoin and if only they would try to do an activity or investment dibitcoin I think they will be very marveled at the profits they will get. I think it is the greatness of bitcoin and I think I should choose all the points you mentioned it.

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November 05, 2017, 02:16:15 PM
 #61

Yeah bitcoin is good to have and to save into our bitcoin wallet than to save your money into your bank account, because in our bitcoin wallet it can increase in days unlike in banks, it takes month before it increase and not just as big as what our bitcoin wallet can do to increase our bitcoin.



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November 05, 2017, 07:46:51 PM
 #62

Bitcoin has opened up a new opportunity for me I withdrew substantial part of my bank savings and invested in bitcoin infact I had started feeling the impact due to the present price of bitcoin at 7500K+
I bought below that price and no bank will pay such a huge profit as interest that had accrued to my bitcoin.

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November 05, 2017, 08:13:00 PM
 #63

It is better to save part of our money in bank rather than investing everything in bitcoin although bitcoin is enjoying a good ride now what will happen to bitcoin in few years to come nobody knows? the price may pullback to a low price.
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November 06, 2017, 04:56:07 AM
 #64

Definitely,bitcoin would get more priority than bank.
In fact,bitcoin has been created to free people from the hands of bankers.
Bitcoin has made possible of sending money P2P without an intermediary bank at very low fee.
Bitcoin has given the opportunity of getting huge returns for their investments when they early had the option of investing their money mostly in banks and getting just a small percentage as interest.
That's why,banks are very much scared about the progress of bitcoin and treat bitcoin as their main rival.
It already is. Most people who already know much about bitcoin now and so much believe in the technology are ready to go all the way to keep believing and supporting the fact that Bitcoin has brought. I was looking for ways to make international transactions for my merchandise and government restrictions gave me hell until bitcoin came my way to save the day.

So, tell me how someone like me will not go all the way to keep supporting Bitcoin when I know all I have passed through in the hands of Banks, making everything strenuous when it is not suppose to be.

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November 06, 2017, 06:55:03 AM
 #65

It is better to save part of our money in bank rather than investing everything in bitcoin although bitcoin is enjoying a good ride now what will happen to bitcoin in few years to come nobody knows? the price may pullback to a low price.
Well somehow you have a point. It is said that dont put your eggs in one basket, since bitcoin is volatile it is not good to invest all your funds in bitcoin. Yes, we dont know what might gonna happen in the future because bitcoin price up and down. So partly, saving both in bitcoin and bank is good for me in bitcoin we can earn profit.

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November 06, 2017, 11:39:29 AM
 #66

It is better to save part of our money in bank rather than investing everything in bitcoin although bitcoin is enjoying a good ride now what will happen to bitcoin in few years to come nobody knows? the price may pullback to a low price.
Well somehow you have a point. It is said that dont put your eggs in one basket, since bitcoin is volatile it is not good to invest all your funds in bitcoin. Yes, we dont know what might gonna happen in the future because bitcoin price up and down. So partly, saving both in bitcoin and bank is good for me in bitcoin we can earn profit.
Banks at present provide the best service which we cannot find it anywhere else. It has served as the backbone for the success of lot of people through the different schemes available. So banks won't go unused in a short or long as bitcoin takes longer time to reach a place that bank holds at present.



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November 06, 2017, 01:02:08 PM
 #67

since bitcoin is volatile it is not good to invest all your funds in bitcoin.
Only an utter fool will put all its savings/money into something. That being said, I don't see why the volatility is being seen as a problem by people if they just look to open a long term position in Bitcoin.

Volatility matters to those who are actively looking to trade the fluctuations, and that's really it. Just look at how much volatility we have gone through since Bitcoin's existence, and look where the market stands today.

It obviously means that the volatility has NO impact whatsoever on the long term price. People just need to look at the facts and not blatantly 'write off' this market's volatility as being a serious problem.

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November 06, 2017, 02:19:29 PM
 #68

It is better to save part of our money in bank rather than investing everything in bitcoin although bitcoin is enjoying a good ride now what will happen to bitcoin in few years to come nobody knows? the price may pullback to a low price.
Well somehow you have a point. It is said that dont put your eggs in one basket, since bitcoin is volatile it is not good to invest all your funds in bitcoin. Yes, we dont know what might gonna happen in the future because bitcoin price up and down. So partly, saving both in bitcoin and bank is good for me in bitcoin we can earn profit.
Banks at present provide the best service which we cannot find it anywhere else. It has served as the backbone for the success of lot of people through the different schemes available. So banks won't go unused in a short or long as bitcoin takes longer time to reach a place that bank holds at present.
These services provided by the banks are really necessary, and is one of the pillars for economic development, but like it or not your money will be in thirds hands. Back in 90's my country went through a severe economic crisis, and the government simply confiscated the savings of the entire population that was in the banks. In 2015 there were rumors this could happen again. Nothing guarantees that will not happen again, btc is a way to get yourself prepared for such situations.

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November 06, 2017, 10:28:44 PM
 #69

Betcoin is favoured compared with keeping money in the bank
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November 07, 2017, 12:07:47 AM
 #70

6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
How can bitcoin break the vicious cycle of poverty? No one gives me substantial amounts for free and if I have no money to invest then I can also not invest in other crypto currencies. But I agree that bitcoin helps you unlike better to leave the poor area as the fiat system eats a lot of your work with taxes, fees and inflation.
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November 07, 2017, 01:53:08 AM
 #71

Betcoin is favoured compared with keeping money in the bank
Bitcoin mate not betcoin, by the way if you are risk taker you will invest in bitcoin first before saving to the bank, but if you are true investor or business man you will put you money at the bank for security and have portion of money for investment they are wise and not want to risk most of their money.

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November 07, 2017, 03:35:02 AM
 #72

Bitcoin is my preferred payment method online, but I still need to use my bank as well. Bitcoin is not supported in my country and in the most famous marketplaces worldwide, so using banks is our unique choice. But I agree that Bitcoin have a lot of powerful features making it better than banks.

yes your truely right mate but bitcoin as you said have powerful features thats why people choosing to priority to invest their money into bitcoin because you can get huge amount of profits for long term investment bitcoin still keep increasing the value in the marketcap, banking system your investment have an secured security because fiat have an stable value compare with bitcoin have a risk using volatile digital currency.
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November 07, 2017, 06:18:16 AM
 #73

It is better to save part of our money in bank rather than investing everything in bitcoin although bitcoin is enjoying a good ride now what will happen to bitcoin in few years to come nobody knows? the price may pullback to a low price.
Well somehow you have a point. It is said that dont put your eggs in one basket, since bitcoin is volatile it is not good to invest all your funds in bitcoin. Yes, we dont know what might gonna happen in the future because bitcoin price up and down. So partly, saving both in bitcoin and bank is good for me in bitcoin we can earn profit.
Banks at present provide the best service which we cannot find it anywhere else. It has served as the backbone for the success of lot of people through the different schemes available. So banks won't go unused in a short or long as bitcoin takes longer time to reach a place that bank holds at present.
Yeah, and in addition in my opinion, our btc wallet and bank have their different uses. Bank cannot go and are money in the bank can be safe in a long run. In our btc wallet there is a possibility that it can be hack. But of course we need to take extra care of our wallet since it involves our income and savings.



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November 08, 2017, 12:45:43 AM
 #74

When you are talking about investing, bitcoin is really better than banks because it has higher interest and profits with greater conviniency on trading online. But in terms of the usage or efficiency on how to deal with your everyday needs, bank is better. On my country, you need to convert bitcoin to fiat in order to use it. So better know your purpose.

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November 08, 2017, 07:18:20 AM
 #75

Indeed bitcoin is much better investment vehicle than in the banks who exploits, oppress and control your money with lots of useless regulations before using your own money where in bitcoin you have control in your transaction without worrying if being track by an third party. One thing i have to correct is bitcoin already graduated from volatility so the price may go down but not that big.
Banks has always exploit us like you said, no doubt and it sucks for them right now when people are beginning to see the truth. We have been enslaved when the set of punks that are supposed to be serving us are manipulating and monopolizing the whole system for their benefit.

All the above, with what you said, whether bitcoin is going high or low, it is very volatile at this state. The volatility has to do with both and we still keep seeing bullish trend for now until we get a balance.

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November 08, 2017, 07:32:05 PM
 #76

When you are talking about investing, bitcoin is really better than banks because it has higher interest and profits with greater conviniency on trading online. But in terms of the usage or efficiency on how to deal with your everyday needs, bank is better. On my country, you need to convert bitcoin to fiat in order to use it. So better know your purpose.
I totally agree with your opinion, but only have one amendment that if Fiat put to the Bank, this passive income, almost requires no attention. but if it comes to bitcoin that they need to trade to get a good profit. although investments, too, is present, but the risks very large in this regard.

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November 08, 2017, 10:09:29 PM
 #77

Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?
Bitcoin  is my option in preparing my payment method but for now bank is secured and safe in savings, I can used bitcoin in paying my bills and other kind of expenses that we can pay here.In terms of investing bitcoin is the best profit or interest that we can have unlike in banks their low interest not appropriate in our money to make it profitable.

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November 09, 2017, 07:11:15 AM
 #78

Using bitcoin is beneficial as investment and currency. Its a big help specially in sending money to my relatives abroad, dont need to use remittance with high fee. Thats only one of many reasons why im hooked.

In investing to btc, i prefer not to go all in as we know its risky and although it can give us a good profit depends on your capital i still chose to left some of my money in the bank. It cant grow unlike if you invest it but i still want to have money with assurance of stability.

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November 09, 2017, 07:47:11 AM
 #79

Banks can use Bitcoin as a fast payment method in the banking industry all over the world to compete from other financial institution in near future. But people always give first priority to the banks followed by Bitcoin. If Bitcoin be fully legalized in the whole world then bank and Bitcoin will go in same way.

I think that banks and Bitcoin should act jointly, because the banks are not exactly unnecessary. There are banks with prejudices against Bitcoin, time is needed.



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Rainbot
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November 09, 2017, 09:31:02 AM
 #80

Bitcoin is now better than bank,because in our country banks transaction charges are increased.if we have bitcoin we can earn profits.so i always my money always in the my bitcoin.banks are paying less amount of interests.
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November 09, 2017, 09:52:23 AM
 #81

It's worthy to note that Big Banks want to destroy Bitcoin before it destroys them.

Bitcoin, the “people’s currency,” has the potential to become a new currency, free of the control of big governments and big banks.

That’s why they both want to limit this potential. Each one in their own way. Big governments by stepping up regulations of Initial Coin Offerings (ICOs) and by shutting down cryptocurrency exchanges, as the Chinese government has announced recently, crushing cryptocurrencies.
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November 09, 2017, 11:42:09 AM
 #82

bitcoin is more important for us, than banks, because the bitcoin currency that can be used throughout the country and the cost of trandaksi is very low in comparison to banks. bitcoin can also help all people who can liberate in poverty.
with you many things in investing in bitcoin you are very lucky, because bitcoin can change suwasana in everyone who do it. so bitcoin is great for a long period of time than the bank.

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November 10, 2017, 07:59:37 PM
 #83

Banks can use Bitcoin as a fast payment method in the banking industry all over the world to compete from other financial institution in near future. But people always give first priority to the banks followed by Bitcoin. If Bitcoin be fully legalized in the whole world then bank and Bitcoin will go in same way.
I have really been looking at that scenario of Banks trading bitcoin as an exchange. I still do not know how this would play out regarding each country's monetary policy, but I will not be surprised one day if you can step into a bank for an exchange of your bitcoin to fiat. However, we would not really need their system anyway when we would have had a lot of online exchanges kicking and booming.














 

 

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bright4mech
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November 10, 2017, 08:35:45 PM
 #84

Yes, I believe a day we come. no one we accept going to bank because of stress. BTC transaction is the best and faster, without delayed. And bitcoin in  you're wallet appreciate than Bank.
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November 10, 2017, 11:58:48 PM
 #85

Yes, I believe a day we come. no one we accept going to bank because of stress. BTC transaction is the best and faster, without delayed. And bitcoin in  you're wallet appreciate than Bank.
Bitcoin is fast for storing value, easy to access and we have our own rules for saving bitcoin. Bank interests small yet we can save anytime of our hard earned money. It is a matter of where do you like to save your money, for me I save bitcoin first than bank.

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November 11, 2017, 12:48:55 AM
 #86

I have to agree with this. For me, we should have put a bigger portion of our money on bitcoin rather than banks. You can see it clearly the opportunity it is giving when you focus on trading on cryptocurrencies.

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November 11, 2017, 03:24:58 AM
 #87

Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?

you already mention the advantages of bitcoin over bank and i agree with you. I prefer now to save my money in bitcoin because i know it will earn more money than banks. But not all my money i will also put some in bank for security since it is more stable. I will take bitcoin as a long term investment.

SamsungBitcoin
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November 11, 2017, 04:46:53 AM
 #88

Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?

you already mention the advantages of bitcoin over bank and i agree with you. I prefer now to save my money in bitcoin because i know it will earn more money than banks. But not all my money i will also put some in bank for security since it is more stable. I will take bitcoin as a long term investment.
But just remember this is one of the higher risk investment do not put all your money here just the amount of money that you can affors to loose what ever happen it will not gives you more ache if it will crash down.
But i agree that investing in bitcoin is much better than investing or saving in the bank because it can gives much quick profit and much higher profit even for short or long term period.

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November 11, 2017, 07:33:35 AM
 #89

But till now bank control Shipping services , all online sites so you can use bitcoin for Digital things only
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November 11, 2017, 07:38:21 AM
 #90

If you want a good return in future you have to take high risks,nothing in this world is risk free.And the investment should be in the longterm if you just buy and sell and buy again it doesn't give you any profit.But i agree with you that don't invest all your money into just bitcoin because no one knows what is gonna happen in the future.So invest all your excess money into bitcoin i hope that it will return with high profits in future.
Life itself is full of a lot of risk. We have all taken risk in this life one way or the other, some deliberately, some they just came as we keep going on through life. The thing about the whole point of living like you said is to learn how to take risk. Even though they still have to be calculated, if you have the mind to go all the way, then do it and know that no matter what, life goes on and you have plan B.



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November 11, 2017, 08:40:36 AM
 #91

Why is bitcoin so favorable vs for instance eth for online shopping when the transaction fee is so high?
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November 11, 2017, 12:22:41 PM
 #92

Bank and bitcoin is good for investment but before you make a discision about your money think first because no one knows what gonna happen  in the coming days months or years  thats why think first before  we make our  discisions coz this is our own good.

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November 12, 2017, 03:40:00 AM
 #93

Split your investment put 50% in your bank and 50% in bitcoin. Dont put your eggs in one basket bud.

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November 12, 2017, 07:11:22 AM
 #94

Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?
Bitcoin must most favorable than bank but for being stable and security we all know that bank holds that.Maybe a 50% of my money is in bitcoin and other is in bank for assuring the security of my money.Keeping investing on bitcoin is a good idea due to its higher value that can make your money profitable in spite of that we transacting in bitcoin is more easier like paying bills and expenses here no hassle way.

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November 12, 2017, 10:59:51 PM
 #95

Some of the six points you have mentioned highly depend on the amount of your money. If you have bitcoin worth $10,000 then you still have to plan your future independend of it. And there is also a misunderstood on your behalf, but most countries demand tax payments for winnings on all kind of assets including bitcoin.

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November 13, 2017, 06:47:05 AM
 #96

Betcoin is favoured compared with keeping money in the bank
Bitcoin mate not betcoin, by the way if you are risk taker you will invest in bitcoin first before saving to the bank, but if you are true investor or business man you will put you money at the bank for security and have portion of money for investment they are wise and not want to risk most of their money.
It all depends on the person himself and the way he is planning the things. If he is already investing in bitcoin, then there is no need of putting your money into banks. In fact, you need to invest more and more money into bitcoins because of the reason that it will help you in making more money. Whereas, if you are planning of saving your money, then you have to choose banks.

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November 13, 2017, 09:09:07 AM
 #97

Maybe it should that will  bitcoins help a lot of ours its also help to poverty who needs income so we earn about .  Smiley
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November 13, 2017, 11:34:51 AM
 #98

Some of the six points you have mentioned highly depend on the amount of your money. If you have bitcoin worth $10,000 then you still have to plan your future independend of it. And there is also a misunderstood on your behalf, but most countries demand tax payments for winnings on all kind of assets including bitcoin.
Bitcoin does have its advantages and disadvantages. What we have to pay attention to is how to make the most of the bitcoin we have. $ 10,000 is a lot and we can use it, but until now I still have not found a country that attracts taxes. Tax collection by government is still limited to discourse and has never been applied in the regulatory system of a country.


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November 13, 2017, 05:57:23 PM
 #99

The problem is you can't consistently use bitcoin on a daily basis currently.  This means that buying bitcoins now doesn't provide the same liquidity as holding currency in a bank.  It's probably best to hold some fiat and some bitcoin to make sure you can draw down funds if you need.  Another problem is that bitcoin isn't guaranteed to go up, and the run that it's had this year... the risk of it falling is a much higher probability rather than bitcoin increasing in value...
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November 13, 2017, 10:54:12 PM
 #100

Betcoin is favoured compared with keeping money in the bank
Bitcoin mate not betcoin, by the way if you are risk taker you will invest in bitcoin first before saving to the bank, but if you are true investor or business man you will put you money at the bank for security and have portion of money for investment they are wise and not want to risk most of their money.
It all depends on the person himself and the way he is planning the things. If he is already investing in bitcoin, then there is no need of putting your money into banks. In fact, you need to invest more and more money into bitcoins because of the reason that it will help you in making more money. Whereas, if you are planning of saving your money, then you have to choose banks.
Investing money or cash to bitcoin or bank was depends to the owner, because in my opinion I think it's better if we can priority the bank. Due to most of the Banks have insurance to the money they hold while in bitcoin you have need to take your own risks holding your amount.
Otherwise bitcoin was not yet fully establish to different part of the world even they are famous we can't sure the consistency of this coin in the market.

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BitHodler
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November 13, 2017, 11:21:48 PM
 #101

Another problem is that bitcoin isn't guaranteed to go up, and the run that it's had this year... the risk of it falling is a much higher probability rather than bitcoin increasing in value...
Nothing in the world is guaranteed, but with how Bitcoin has been progressing, it's safe to say that it very likely will continue to increase throughout the years.

Instead of you thinking that a decreasing value is a problem for people, it's actually the increasing value that makes people not willing to use Bitcoin as actual currency tool like how they are using fiat.

In order to give people enough incentive to use Bitcoin, it needs lightning network, and a somewhat stable price. No one wants to spend something that is very likely going up afterwards ~ it's a discouraging factor.

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November 14, 2017, 02:21:46 AM
 #102

Betcoin is favoured compared with keeping money in the bank
Bitcoin mate not betcoin, by the way if you are risk taker you will invest in bitcoin first before saving to the bank, but if you are true investor or business man you will put you money at the bank for security and have portion of money for investment they are wise and not want to risk most of their money.
It all depends on the person himself and the way he is planning the things. If he is already investing in bitcoin, then there is no need of putting your money into banks. In fact, you need to invest more and more money into bitcoins because of the reason that it will help you in making more money. Whereas, if you are planning of saving your money, then you have to choose banks.
Investing money or cash to bitcoin or bank was depends to the owner, because in my opinion I think it's better if we can priority the bank. Due to most of the Banks have insurance to the money they hold while in bitcoin you have need to take your own risks holding your amount.
Otherwise bitcoin was not yet fully establish to different part of the world even they are famous we can't sure the consistency of this coin in the market.
For me it’s better to bank first before bitcoin, I agree that most of the bank now have a good offered to their clients in terms of insurance, so we can sure that our amount in our wallet was fully secured. While in bitcoin, which is thru online our balance were closed to the intruders or hacker.
However, the advantage side of bitcoin was their price in the market was increasing so fast not like in bank that we need to wait a quarterly of yearly interest less taxes. Both sides are having advantage and disadvantage to each one maybe it’s depend to the owner if what they are priority.

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November 14, 2017, 12:33:40 PM
 #103

Many people know that investing in bitcoin is riskier than putting a money in a bank. And bitcoin is better alternative to those who want to earn more money as the price increase. It better not to put all your money in a single investment, and make sure that you know how to manage risk before investing.

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November 15, 2017, 02:25:45 AM
 #104

Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?

When i differentiate between bitcoin benefits than in the bank is so very far  if you make a statistic data of this two,in terms of business,you can
compared that 85% is in favor of bitcoin in terms of savings and investment because of its decentralized program rather than in the bank mostly appears only 60-70% only  trust rating,because the government now can open your account by the group of AMLOCK.so the prioritization of the people now is to invest in bitcoin that double your money in a certain period of time rather than,deposite in the bank and gain profit so small,even you put it in time deposit,its so unfair to our part.

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November 15, 2017, 03:34:00 AM
 #105

Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?
It is too early, because Bitcoin is not accepted for paying bills, flats, supermarkets, electricity, taxes and so on. But in principle I would agree for the one reason: It is decentralized and no authority needed.
But at the end it is just a matter of time before bitcoin is accepted everywhere, I know that adoption is going slow but if we have patience we are going to see a world where bitcoin is adopted by most of the population and at that point any disadvantage that bitcoin could have against any fiat or having your money in a a bank is not going to be there anymore.

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November 15, 2017, 04:34:06 AM
 #106

My priority is to save money in the bank for the future of my kids amd i have portion of money for investment to have additional income. Now i choose bank before bitcoin, my extra money was invested in bitcoin because i know that bitcoin value gives more profit in the future. But it will depends on the person some people are risk taker they love to invest without thinking the possible negative result in the investment.

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Cosbycoin
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November 15, 2017, 07:52:32 AM
 #107

Banks can use Bitcoin as a fast payment method in the banking industry all over the world to compete from other financial institution in near future. But people always give first priority to the banks followed by Bitcoin. If Bitcoin be fully legalized in the whole world then bank and Bitcoin will go in same way.

I think that banks and Bitcoin should act jointly, because the banks are not exactly unnecessary. There are banks with prejudices against Bitcoin, time is needed.
I don’t think so that there is some way using which both the banks as well as crypto currency can work together. Banks are only meant for paper money and there is no way that they will go for keeping of bitcoins and other crypto currencies and that too without the permission of the government. I will prefer bitcoins over putting my money into banks. This will help me in making more money.

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ThunderCatSteve
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November 15, 2017, 08:06:19 AM
 #108

When you are talking about investing, bitcoin is really better than banks because it has higher interest and profits with greater conviniency on trading online. But in terms of the usage or efficiency on how to deal with your everyday needs, bank is better. On my country, you need to convert bitcoin to fiat in order to use it. So better know your purpose.
Why on Earth would anyone put bitcoin first before their bank? I wouldn’t do such a thing, and neither will I withdraw all the money in my account and invest It into Bitcoin. Bank is even more reliable and safe, and you can meet them face-to-face to discuss/sort out an issue.

But for bitcoin, you’re not safe, they can seize or take your money anytime they wish and you can’t do anything about it, you just have to let it go. Even if a country will decide to use cryptocurrency, it won’t be bitcoin, it would be a cryptocurrency offered by its central bank.



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.ANGEL TOKEN.
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November 15, 2017, 08:44:19 AM
 #109

Bitcoin is favoured compared with keeping money in the bank.
1. You have an asset that can grows (though it can also reduce its value due to its high volatility but this is a risk many people prefer to take).
2. Your future is in your hand, you can plan ahead and forecast.
3. Your transactions are self controlled with convenience and peace of mind.
4. You control your wealth and you are not subject to regulations that milk up your funds.
5. Bitcoin is a great asset during economic failures and hyper inflations in nations as we see currently happening in Zimbabwue, Venezuela,  and Argentina.
6. Bitcoin breaks the vicious cycle of poverty and helps you leverage to other opportunities such as investing in other crypto currencies.
The list is endless.......
What is your take?

thanks. you said it all clear. it is centralization versus decentralization. join the bitcoin revolution!

entrepmind23
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November 15, 2017, 12:13:07 PM
 #110

When you are talking about investing, bitcoin is really better than banks because it has higher interest and profits with greater conviniency on trading online. But in terms of the usage or efficiency on how to deal with your everyday needs, bank is better. On my country, you need to convert bitcoin to fiat in order to use it. So better know your purpose.

Bitcoin may have better interest than banks but still bitcoin is highly speculative and you can lost your bitcoin any time if you will not be careful like not securing your accounts enough and end up being hacked or sending to wrong address. To invest in bitcoin is enticing because of the high rate of return but fiat is still the one that is widely used. In my country as well, I need to convert to fiat first to pay some expenses because bitcoin is not accepted generally. It is a good store of value for now and it's hard to use bitcoin for daily transactions due to its high transaction fee. I saw one post about someone transferring about $50 but back out when he saw the fee is more than $20.