:-> Bitcoin are helping to reduce global debt. :->

[teosanru]

Ok, let's forget for one moment that Banks are also getting money from thin air, when Reserve Banks are printing money. Let's just concentrate on the millions of deposits that are deposited into Banks on a daily basis and that most of this money is borrowed to other people with interest.  

This money is channelled to loans <Short-term and Long-term> and people pay interest on those loans, resulting in higher debt.

So, when people remove their money from Banks and they invest in Bitcoin, they actually reduce the amount of money that Banks can loan to other people, effectively reducing global debt.    

This is why we always tell people not to buy bitcoins with credit cards or loans, because you are borrowing money from Banks to invest in Bitcoin and that increase debt levels again.  

Hoarding Bitcoin also stimulate a saving habit and that helps to counter increasing debt levels.  

Actually the thing is you are absolutely wrong. Look at the big picture you are not destroying the fiat but just transferring it. For example When you are buying bitcoin by using your fiat. You are buying it from another retailer who is selling bitcoin to you. So this seller would receive the fiat which you removed from the economy and when he deposits into a bank only. So thinking globally the debt is remaining the same. Look at big picture. Only the miners who are minning bitcoin can say that they are reducing some global debt by creating bitcoin but even they are not destroying fiat in any way.

So when you buy and remove fiat there is a seller who sells and add fiat. I don't understand why no one has thought about this in this thread

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[NewBet]

I think already millions of people have come out of debt thank you to bitcoin. if it wasn't for this technology, people in third world countries would still not be able to come out of poverty.

[Klausi]

Ok, let's forget for one moment that Banks are also getting money from thin air, when Reserve Banks are printing money. Let's just concentrate on the millions of deposits that are deposited into Banks on a daily basis and that most of this money is borrowed to other people with interest.  

This money is channelled to loans <Short-term and Long-term> and people pay interest on those loans, resulting in higher debt.

So, when people remove their money from Banks and they invest in Bitcoin, they actually reduce the amount of money that Banks can loan to other people, effectively reducing global debt.    

This is why we always tell people not to buy bitcoins with credit cards or loans, because you are borrowing money from Banks to invest in Bitcoin and that increase debt levels again.  

Hoarding Bitcoin also stimulate a saving habit and that helps to counter increasing debt levels.  

Actually the thing is you are absolutely wrong. Look at the big picture you are not destroying the fiat but just transferring it. For example When you are buying bitcoin by using your fiat. You are buying it from another retailer who is selling bitcoin to you. So this seller would receive the fiat which you removed from the economy and when he deposits into a bank only. So thinking globally the debt is remaining the same. Look at big picture. Only the miners who are minning bitcoin can say that they are reducing some global debt by creating bitcoin but even they are not destroying fiat in any way.

So when you buy and remove fiat there is a seller who sells and add fiat. I don't understand why no one has thought about this in this thread

You didn't understand what OP said, what he means by "fiat" is not the cash on hands, but cash on an external wallet online that could be use on buying cryptocurrencies such as Bitcoins, ethereum, and other cryptocurrencies that has the potential to pump in the long run, and if they use their fiat in buying cryptocurrencies, then whoever the owner of the exchanger where they arw going to buy will not definitely put the fiat on the bank, I hope it make sense.

[Leonardo7]

The banking system is a big fraud. They give you a loan so that you become weary of your life when you can't payback. I once worked with a commercial bank in my country, the brand head, and marketers always celebrate whenever a lot of loans are borrowed out. The borrowers just gave the bank access to their pocket, it's a pathological problem

[AicecreaME]

The banking system is a big fraud. They give you a loan so that you become weary of your life when you can't payback. I once worked with a commercial bank in my country, the brand head, and marketers always celebrate whenever a lot of loans are borrowed out. The borrowers just gave the bank access to their pocket, it's a pathological problem

My family is always asking me why I don't sell all of my cryptocurrencies, turn it in fiat and put on the bank, and I'm always laughing in response, what I mean is who is going to trust the bank if he knows its hidden agenda, advertising savings, lending loans, and other bullshit things that will only gave them a lot of money in return, but we can't blame other people for trusting banks, lending loans to it thinking that they are in the good hands, it is because they don't know where to go, where to lend money to save his family from starving or even his self, we all have different needs and wants in life.

no matter what "good"shit people are going to tell me about the bank and the "benefits" I could get from it, I will just smile at them and keep earning cryptocurrencies, that is the real investment for me.

[Zionatin]

The banking system is a big fraud. They give you a loan so that you become weary of your life when you can't payback. I once worked with a commercial bank in my country, the brand head, and marketers always celebrate whenever a lot of loans are borrowed out. The borrowers just gave the bank access to their pocket, it's a pathological problem

My family is always asking me why I don't sell all of my cryptocurrencies, turn it in fiat and put on the bank, and I'm always laughing in response, what I mean is who is going to trust the bank if he knows its hidden agenda, advertising savings, lending loans, and other bullshit things that will only gave them a lot of money in return, but we can't blame other people for trusting banks, lending loans to it thinking that they are in the good hands, it is because they don't know where to go, where to lend money to save his family from starving or even his self, we all have different needs and wants in life.

no matter what "good"shit people are going to tell me about the bank and the "benefits" I could get from it, I will just smile at them and keep earning cryptocurrencies, that is the real investment for me.

Lol I also laugh at people when they say stuff like that. They ask m how do I get it into the local currency. I laugh and say I do not need to since I can spend it directly. They don't understand... 
I just read a post here about banks doing negative interest. Have you ever heard of such a thing? As if they not making enough charging what they do on loan interest they still want more by asking us to pay them to keep our money "safe".

[beej]

Bitcoin offers something more than what banks today offer to people. It's making a lot
of difference around. Earning, investing and holding on to cryptocurrencies is assisting
people with debts and without employment to earn and save. It's a good source of income
and it's quite accessible. I keep hearing a lot of stuff about how better it is with banks, I'm
not inclined to comment but what works for us truly is what is important. If you have
money invested or saved in banks or in crypto or both, as long as it's helping it's all good.

[robelneo]

Ok, let's forget for one moment that Banks are also getting money from thin air, when Reserve Banks are printing money. Let's just concentrate on the millions of deposits that are deposited into Banks on a daily basis and that most of this money is borrowed to other people with interest. 

This money is channelled to loans <Short-term and Long-term> and people pay interest on those loans, resulting in higher debt.

So, when people remove their money from Banks and they invest in Bitcoin, they actually reduce the amount of money that Banks can loan to other people, effectively reducing global debt.    

This is why we always tell people not to buy bitcoins with credit cards or loans, because you are borrowing money from Banks to invest in Bitcoin and that increase debt levels again.  

Hoarding Bitcoin also stimulate a saving habit and that helps to counter increasing debt levels.  

Banks are not only relying on deposits, but they also have other business like mortgaged, services and shares to other top companies in the country where they operate, they will always have huge money to lend whoever needs it as long as they comply to their rules.
People will always be tempted to buy Bitcoin using their credit cards because it's probably one of the options left for them.

[teosanru]

Ok, let's forget for one moment that Banks are also getting money from thin air, when Reserve Banks are printing money. Let's just concentrate on the millions of deposits that are deposited into Banks on a daily basis and that most of this money is borrowed to other people with interest.  

This money is channelled to loans <Short-term and Long-term> and people pay interest on those loans, resulting in higher debt.

So, when people remove their money from Banks and they invest in Bitcoin, they actually reduce the amount of money that Banks can loan to other people, effectively reducing global debt.    

This is why we always tell people not to buy bitcoins with credit cards or loans, because you are borrowing money from Banks to invest in Bitcoin and that increase debt levels again.  

Hoarding Bitcoin also stimulate a saving habit and that helps to counter increasing debt levels.  

Actually the thing is you are absolutely wrong. Look at the big picture you are not destroying the fiat but just transferring it. For example When you are buying bitcoin by using your fiat. You are buying it from another retailer who is selling bitcoin to you. So this seller would receive the fiat which you removed from the economy and when he deposits into a bank only. So thinking globally the debt is remaining the same. Look at big picture. Only the miners who are minning bitcoin can say that they are reducing some global debt by creating bitcoin but even they are not destroying fiat in any way.

So when you buy and remove fiat there is a seller who sells and add fiat. I don't understand why no one has thought about this in this thread

You didn't understand what OP said, what he means by "fiat" is not the cash on hands, but cash on an external wallet online that could be use on buying cryptocurrencies such as Bitcoins, ethereum, and other cryptocurrencies that has the potential to pump in the long run, and if they use their fiat in buying cryptocurrencies, then whoever the owner of the exchanger where they arw going to buy will not definitely put the fiat on the bank, I hope it make sense.

It still doesn't makes sense. I dont think OP meant what you said because he never mentioned external wallets online. Even if OP meant buying on an exchange let me help you with what an exchange means it means you can exchange one commodity with other person using their platform. Exchange is nothing but merely a platform providing you to exchange your fiat with other people.  If you buy BTC by paying them fiat you someone is selling their BTC on the same exchange and reclaiming some fiat. Even if their is a sort of deficit where people for once are buying btc more and selling less Exchange would maintain a margin fiat for future and even if they themselves convert into to BTC they will be buying it from some other big exchange so no way there is reduction of debt see at a bigger picture. Everyone has to put fiat at the bank in the end.

[Kakmakr]

The object is not to destroy the Fiat you guys, it is to prevent the Banks from receiving the Fiat and then in turn creating another Fractional reserve on that Fiat to loan the money to someone else. Yes, when you buy bitcoins from one entity you are effectively moving that money on the Banks ledger to another persons account, so it is not exiting the Banking system, but when you use your cash in hand and you do not deposit that into a Bank, you shift that cash to someone else.

So people might withdraw cash to buy bitcoins and reduce the amount of cash that are in Banks at any given time.    The more withdrawals there are, the less money Banks have to give out to loans. 

[Mandoy]

I do not really buy that buying withdrawing money from the banks to buy bitcoin reduces global debt. When we buy bitcoin we do not actually remove the money from the banks but we just transferred our money from our accounts to other bank accounts. For example when you purchase bitcoin from an exchange you are required to send a certain amount of dollar which you need to deposit to their bank account so that they will credit you with tether on your account on their exchange. But the tether is not the actual dollars and your money is not going out of the bank but just trasnfering it to the bank account of the exchange. In the end there is nothing that cause reduction on global debt.

[Kizaki]

I think already millions of people have come out of debt thank you to bitcoin. if it wasn't for this technology, people in third world countries would still not be able to come out of poverty.

And too many people too got burried in debt thanks to bitcoin some people who just invest and invest without thinking.
But thats true that there are many people on third world countries got helped and got themselves back on the line again thanks to bitcoin for giving them opportunity to earn money.

[fullhdpixel]

If people are good in handling in their loan, they will not have any problem. Yes, bitcoin can help to reduce the debt of the people since you can earn some money without releasing any of them. But why would you loan if you can earn money?

Although it could be risky, one more thing that bitcoin does is to also help so many companies pay their salary without touching their budgeted salary, and it has happened to me before. I have some staff that I do pay monthly, but at the beginning of every year, based on the previous year sale, I usually separate salaries for the whole year to be kept in a separate account.

So, I thought of it this year that since bitcoin has bottomed, rather than keeping the money inside bank and it is not generating income for me, why not just let me Put it in a bitcoin wallet which I did, we all know what has happened to money that was left in wallet from January till now, although I had touched it for some months, but the salary I have paid has been the profit I got from the one I kept in wallet.