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Author Topic: BITCOIN FIRST BEFORE YOUR BANK  (Read 2737 times)
justdimin
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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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