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Author Topic: BITCOIN FIRST BEFORE YOUR BANK  (Read 3125 times)
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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SamsungBitcoin
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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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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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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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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.



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November 15, 2017, 04:26:40 PM
 #111

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.
For me it is not risky to invest in the bitcoin because it is now very safe and the bitcoin is helping the people who are investing in it. So the bank is good to keep your money in but the bitcoin is outstanding. If a person is having the dreams with the bitcoin and he want to earn the money with the bitcoin so he will have to face the risk and it will give him the bright future because the acceptance of the bitcoin is now increasing.

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November 15, 2017, 06:42:52 PM
 #112

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.
For me it is not risky to invest in the bitcoin because it is now very safe and the bitcoin is helping the people who are investing in it. So the bank is good to keep your money in but the bitcoin is outstanding. If a person is having the dreams with the bitcoin and he want to earn the money with the bitcoin so he will have to face the risk and it will give him the bright future because the acceptance of the bitcoin is now increasing.
Bitcoin do really give the opportunity on making us rich but the thing that making it as an investment will not really be completely safe because if we do say safe its 100% free from loses which isnt possible on bitcoin because we do know the price is too volatile which means chances of losing money is always there and therefore we should be prepared on that one. Bitcoin is great but we should still keep money left on our traditional banks and never ever go all ine.

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November 15, 2017, 09:27:29 PM
 #113

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.

Bitcoin doesn't generate interest like how money in your savings account does. If we look at things a bit more strictly, Bitcoin doesn't net you anything at all (i.e. 1 BTC remains 1 BTC for ever, regardless of the fiat value). In order to lose or gain a certain percentage of your initial investment in Bitcoin, you need to sell or spend your coins. Also, losing coins (i.e. losing permanent access to them in whatever way) is always the fault of the person in question, and for that reason has nothing to do with Bitcoin itself. If you hold Bitcoin then make sure everything related to security is top notch, all this to lower the odds of your system getting hacked, etc. 100% security doesn't exist.

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November 16, 2017, 06:58:58 AM
 #114

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.


Well some shop in our country are starting to implement bitcoin.
earnmoneyonl
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November 16, 2017, 07:04:45 AM
 #115

Bitcoin needs to be used for paying consumption first. Then the government needs to make some regulations for that. It is now really hard to say about bitcoin's future. As you know, we got bitcoin then they want bitcoin cash and then bitcoin gold. I do not know how many bitcoin we will have in the future and the one that everyone wants to use then will be the most valuable asset.
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November 16, 2017, 07:15:27 AM
 #116

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?

Now bitcoin is a great investment channel and of course it's better saving your money in the bank. Investing into bitcoin then your asset can grow or reduce (although this possibility is too hard to happen) but i think we should not put all our money into bitcoin because:
- We can not use bitcoin to pay to your bill
- Bitcoin is not safer the bank, if you are hacked bitcoin you will be lost your money while the bank will protect you in the similar case

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November 16, 2017, 02:39:27 PM
 #117

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.

Banking institution was really there to put and save our money on them. If you are a banking people, meaning you love to save money in a bank, then its better to save on them. But for me, I already stay away from banks for quite some time now that I even don't have a bank account.

And when I discovered bitcoin, I totally forgot about them. I would rather now save my money on bitcoin because it has given me a good returns ever since I engaged myself into it. And your money will not grow as much if you have put in a  bank as compare to bitcoin that keeps rising overtime. I know that there are risk saving your bitcoin, put I'm more willing to take it.

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November 17, 2017, 11:23:54 AM
 #118

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.
Bitcoin really opened some level of freedom and since I started saving a chunk of my money in bitcoin, I have never regretted it. If not for the level of risk that it still has regarding the volatility and the fact that it is not fully grounded yet, I would have just moved all in. However, I still believe those times are coming and I am willing to go all the way at least with the percentage I am leaving in hoping for the best.



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November 17, 2017, 01:48:40 PM
 #119

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?

Now bitcoin is a great investment channel and of course it's better saving your money in the bank. Investing into bitcoin then your asset can grow or reduce (although this possibility is too hard to happen) but i think we should not put all our money into bitcoin because:
- We can not use bitcoin to pay to your bill
- Bitcoin is not safer the bank, if you are hacked bitcoin you will be lost your money while the bank will protect you in the similar case

It is the right time to invest in the bitcoin, as much as the banks concerned the people who are not yet properly aware of the bitcoin are putting the money in the bank and in the future we will see the bitcoin more and more high and the price and the value of the bitcoin will increase more I am sure the bitcoin will help all the people and the crypto will help all the people in the future.

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streazight
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November 17, 2017, 05:00:16 PM
 #120

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.
No one absolutely in life would give you any money for free, most especially huge money without having to work for them or unless you are just very close and they are willing to help. That is why we need to be hardworking as bitcoin has even brought so many opportunities to earn without having the border issues we have always had when it comes to being paid for the job done even when you have all the skills to deliver.

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.
Banks would even always take from you instead of giving back to you and they keep using your savings to do business. Well, they have really done their own part and we had no choice despite all the controls and manipulation of the whole system. However, now that we have a much better alternative, we can easily fire them and tell them to go screw themselves.

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