One solid reason that I came across for the need of BitCoins. <Be Your own Bank>

[tambok]

The thing is that we still need the support of the government to be a bank of our own, and the only way that all those embassies too can recognize any cryptocurrency wallet statement is when they are fully well informed and assured that government is in support of it.
 
Imagine now that you have your money in your wallet and you are able to have full control of it, and then there is this thing that you need to go for in the embassy that requires your statement of account, this means that it is only your wallet account that you can provide, now tell me how the embassies will accept this? What I am just trying to say is that we cannot completely throw the traditional banks out like that except the government is done with them completely.

Indeed, still we need banks, although we will be in a digital world, I know that banks will not disappear and will just evolve and develop to crypto world. The good thing is that as of the moment, we are enjoying the less fee transaction when transferring to banks, we are enjoying the taxless society too especially in our government that we are not oblige yet to disclose about the earning we have in crypto.

[Gotumoot]

What steps I am taking to make people aware of the power of bitcoin, and cryptos?

• Helping them buy their first Bitcoins
• Making the understand the power of bitcoin hash power.

Maybe if you are a store owner why not accept bitcoin and create a banner with qr code of your bitcoin wallet. I'm sure people will have awareness here and they will be curious to find out. You can't lose here because your bitcoin can be auto covert to fiat money. Just use some wallet that have feature like coins.ph

[Icygreen]

In America there's something called "Civil asset forfeiture".  This is where the normal police can legally take any assets they please, house, car, money, jewelry etc. They only need to have suspicion that it's helping aid a crime.  Many victims have reportedly been innocent of accused crimes and did not get their property back. Bitcoin will find its way to adoption based on need rather than convenience.

[minersday]

I recently went for USA Visa interview , i.e I applied for a business visa.

For the purpose of VISA, I needed the documents to show my bank balance, therefore I went for getting the bank statement sealed and signed from bank authorities. I am from India the bank in which I have account are one of the best banks in my country.

Now first I took out print out of 6 months statement, then went to bank physically, then the real pain started, they told me to put a seal and sign on my Bank Account Statement, they will charge 100 INR for one month's statement, and I felt cheated, I felt these guys are in a business of monopoly, for my money, my account, they are charging money from me just to authenticate that my balance amount is right.

We surely need crypto currencies, and do not need anyone else's validation to proof that we have our own money. More and More Power to BitCoin.

What steps I am taking to make people aware of the power of bitcoin, and cryptos?

• Helping them buy their first Bitcoins
• Making the understand the power of bitcoin hash power.

You should understand that in the centralized institutions such as the bank, every services provided by them comes with cost. In the centralized ecosystem, there are no free services. It is very true that with cryptocurrencies, all this charges will not be seen but you need to understand that this is how the bank system works and there is nothing you can do that can change this. You just have to promote cryptocurrencies in your own way to help in the adoption of cryptocurrency into the mainstream financial ecosystem. That will help solve majority of the problems seen in the centralized financial ecosystem.

[rodel caling]

In terms of being your own bank. It is not sufficient that you just have your own private keys stored somewhere on the internet. In cryptocurrency, there are also problems occurring similar to banks where people can have their money stolen. For you to secure your funds, an offline wallet is a must especially if you are to store thousand dollars worth of cryptocurrency. This article can help you in choosing which hardware wallet suits you and we'll help you up to set up your own bank.

That is true that a reality meaning nothing perfect in this world,  same the fiat bank crypto currency online wallet are treated as online bank of the crypto currency holders but we need also to becarefull even the platform have an strong secutrity possible the investment gone or lost if the hackers attack.

[drachman]

I recently went for USA Visa interview , i.e I applied for a business visa.

For the purpose of VISA, I needed the documents to show my bank balance, therefore I went for getting the bank statement sealed and signed from bank authorities. I am from India the bank in which I have account are one of the best banks in my country.

Now first I took out print out of 6 months statement, then went to bank physically, then the real pain started, they told me to put a seal and sign on my Bank Account Statement, they will charge 100 INR for one month's statement, and I felt cheated, I felt these guys are in a business of monopoly, for my money, my account, they are charging money from me just to authenticate that my balance amount is right.

We surely need crypto currencies, and do not need anyone else's validation to proof that we have our own money. More and More Power to BitCoin.

What steps I am taking to make people aware of the power of bitcoin, and cryptos?

• Helping them buy their first Bitcoins
• Making the understand the power of bitcoin hash power.

You can see their abuse because you know there is an alternative in the form of bitcoin, but the rest of the population do not see it that way, to them that is just the way things are supposed to work and even if you gave them the option of being their own bank they are not going to want to accept the responsibility that comes with it, and it is why it is taking so long for bitcoin to be adopted by a significant amount of the population around the world.

[Asmonist]

I think its really part of there service charges. The banks generate income from service charges. Anyway, crypto has really give us convenience to see our balance outright. However, since its not yet regularized we cannot easily show it as proof of income in whatever purposes we need. We still need to undergo in bank's statements for purposes we need. Hopefully crypto or bitcoin can have that statement shown and approved by any purposed we needed.

[Eugenar]

I think its really part of there service charges. The banks generate income from service charges. Anyway, crypto has really give us convenience to see our balance outright. However, since its not yet regularized we cannot easily show it as proof of income in whatever purposes we need. We still need to undergo in bank's statements for purposes we need. Hopefully crypto or bitcoin can have that statement shown and approved by any purposed we needed.

Cryptocurrency to also have fees from transaction fees when we transact. And I bet miners are getting their fees from transactions that they process. The same way goes with banks' system of getting income. Though, in cryptocurrency, you have your own personal account where no one in the world could possibly figure out. It is decentralized that you are the bank itself if you can fully secure your funds. To compare, banks as slower in transaction speed, crypto is faster. Crypto is more convenient than banks but sometimes transaction fees are higher in crypto.

[gabbie2010]

That is why people are keeping away from banks. They are stealing people's money. Imagine you are saving your money in a bank with a little interest, banks use your money to lend it to other people with a high interest and collateral, and if this people cannot pay they will take away their property and giving people a little interest for their deposits, charging excessive fees for their services.

But the purpose of using the bank is to obtain a valid statement of account document according to the OP which would be use to secure his visa we all agreed that banks are using every possible means to make unnecessary charges from their customers, the US embassy would not recognized bitcoin transaction ID as a valid document for securing Visa thus the purpose of using a bank is justified for now.

[JC btc]

I think its really part of there service charges. The banks generate income from service charges. Anyway, crypto has really give us convenience to see our balance outright. However, since its not yet regularized we cannot easily show it as proof of income in whatever purposes we need. We still need to undergo in bank's statements for purposes we need. Hopefully crypto or bitcoin can have that statement shown and approved by any purposed we needed.

Banks are the most corrupted company, even some banks have fee when requesting your statement of account, when in fact it should be available in your online banking, some banks have higher transaction fee too and you need to fall in line to deposit/withdraw. Really bad to see this, so, I am really using my earnings in crypto fo me to pay bills and for deposit that I don't need to go to bank and suffer falling in line which will take sometimes hour/s.

[electronicash]

there is just no option for anyone to get into this country, not when Trump still sits there. banks had been doing all these to us though you get used to it, its time to also take this advantage from them.

may i know how much do they need to see in your account for you to be approved for visa?

i'm interested to visit south america actually. this is not Asia so i'd assume there will be the need for me to also provide information to them.

[drachman]

I think its really part of there service charges. The banks generate income from service charges. Anyway, crypto has really give us convenience to see our balance outright. However, since its not yet regularized we cannot easily show it as proof of income in whatever purposes we need. We still need to undergo in bank's statements for purposes we need. Hopefully crypto or bitcoin can have that statement shown and approved by any purposed we needed.

Banks are the most corrupted company, even some banks have fee when requesting your statement of account, when in fact it should be available in your online banking, some banks have higher transaction fee too and you need to fall in line to deposit/withdraw. Really bad to see this, so, I am really using my earnings in crypto fo me to pay bills and for deposit that I don't need to go to bank and suffer falling in line which will take sometimes hour/s.

Despite being in one of the most profitable industries around the world there are many banks that still have huge problems that go back to the 2008 crisis and that is why they are charging you for everything that you do, even for withdrawing your money from the bank, however now that we have bitcoin banks cannot longer abuse their position as much as they did in the past because if the adoption of bitcoin keeps growing more people are going to realize how easy and how cheap bitcoin can be compared to banks.

[Mike Mayor]

I hate when people ask for bank statements. My face just goes -_- then it droops down on the sides as it melts. So much crap that they charge you just to check your account. Like say it out loud. Like ask the guy at the bank to just hear himself say it. How can they even tell people with a straight face? They basically charging you money for something that is free and something that is also pretty much made up. 100INR is just to churn a quick profit for themselves for the end of year bonuses next month. This is why I have always hated banks. Too damn nosey about my own damn affairs.

[drachman]

I hate when people ask for bank statements. My face just goes -_- then it droops down on the sides as it melts. So much crap that they charge you just to check your account. Like say it out loud. Like ask the guy at the bank to just hear himself say it. How can they even tell people with a straight face? They basically charging you money for something that is free and something that is also pretty much made up. 100INR is just to churn a quick profit for themselves for the end of year bonuses next month. This is why I have always hated banks. Too damn nosey about my own damn affairs.

The banking industry is basically a monopoly and like any monopoly they feel they can do whatever they want, they always claim that your money will be better with them but as soon as you deposit your money with them they treat you like garbage and as if they are doing you a favour by storing your money with them but things will begin to change once bitcoin becomes more popular, they will literally beg you to deposit your money with them but at that point we will have not reason to do it.

[shoreno]

its because cryptos are decentralized  . thats what cryptos are good of . it can act like your own bank without any hassel compare to applying on banks that needs so many requirements like i'd.s  and most of all you have to pay anually just to keep your account active  . isnt that a headache  ? while by using cryptos you dont have to pay anything and the best part is that the interest that you can earn is 2x than the banks can give to you when you store money  .

[Youghoor]

I recently went for USA Visa interview , i.e I applied for a business visa.

For the purpose of VISA, I needed the documents to show my bank balance, therefore I went for getting the bank statement sealed and signed from bank authorities. I am from India the bank in which I have account are one of the best banks in my country.

Now first I took out print out of 6 months statement, then went to bank physically, then the real pain started, they told me to put a seal and sign on my Bank Account Statement, they will charge 100 INR for one month's statement, and I felt cheated, I felt these guys are in a business of monopoly, for my money, my account, they are charging money from me just to authenticate that my balance amount is right.

We surely need crypto currencies, and do not need anyone else's validation to proof that we have our own money. More and More Power to BitCoin.

What steps I am taking to make people aware of the power of bitcoin, and cryptos?

• Helping them buy their first Bitcoins
• Making the understand the power of bitcoin hash power.

First of all, you need to know that nothing in this world is actually free. Any services provided by people always comes along with a fee. In as much the Bitcoin makes you in charge of your money, it hasn't gotten to the point where people can use it to confirm the amount of money they have in their wallets in order to travel as their financial statement.  Due to this reason, we will still use the banks statement as the only option to indicate once financial profile. We need to promote Bitcoin to get to the level where no one will actually use bank statements as a proof of financial profile and status..

[yulionoo]

yes I think banks are always like that. the bank always has a reason to be able to take our money with administrative fees, monthly fees and others. but I know that not all banks like this, there are some banks that are quite friendly with customers and the costs that must be incurred by customers for administration are quite low. therefore I strongly support cryptocurrency with blockchain technology will make transaction costs cheaper and no need to use a third party like a bank. and I will continue to strive to introduce cryptocurrency to relatives and friends. so that more and more people are supporting cryptocurrrency.

[Oneandpure]

yes I think banks are always like that. the bank always has a reason to be able to take our money with administrative fees, monthly fees and others. but I know that not all banks like this, there are some banks that are quite friendly with customers and the costs that must be incurred by customers for administration are quite low. therefore I strongly support cryptocurrency with blockchain technology will make transaction costs cheaper and no need to use a third party like a bank. and I will continue to strive to introduce cryptocurrency to relatives and friends. so that more and more people are supporting cryptocurrrency.

Bank always ask you where you receive your money although you not have business and job maybe they will most suspicious with your assets in the bank, how ever they think you have dark business and illegal transaction, you can explain for them with bitcoin because very easy to understand how bitcoin working, show them with your trading history to make them understood with your income money in the bank, just needed few minutes to make them understand where is your money come from and how your passive income.

[Cacingkemi]

yes I think banks are always like that. the bank always has a reason to be able to take our money with administrative fees, monthly fees and others. but I know that not all banks like this, there are some banks that are quite friendly with customers and the costs that must be incurred by customers for administration are quite low. therefore I strongly support cryptocurrency with blockchain technology will make transaction costs cheaper and no need to use a third party like a bank. and I will continue to strive to introduce cryptocurrency to relatives and friends. so that more and more people are supporting cryptocurrrency.

almost all banks have the same way of working, they benefit from their customers by charging administrative fees every month. but I think even so, the role of banks is certainly still very much needed by everyone, although now there is modern technology in the form of cryptocurrency that is able to facilitate its users to conduct all transactions at a fairly low cost, everyone certainly needs a central bank to convert their digital money in the form of currency used because most countries cannot fully legalize cryptocurrency as a means of payment or other needs.

[drachman]

yes I think banks are always like that. the bank always has a reason to be able to take our money with administrative fees, monthly fees and others. but I know that not all banks like this, there are some banks that are quite friendly with customers and the costs that must be incurred by customers for administration are quite low. therefore I strongly support cryptocurrency with blockchain technology will make transaction costs cheaper and no need to use a third party like a bank. and I will continue to strive to introduce cryptocurrency to relatives and friends. so that more and more people are supporting cryptocurrrency.

almost all banks have the same way of working, they benefit from their customers by charging administrative fees every month. but I think even so, the role of banks is certainly still very much needed by everyone, although now there is modern technology in the form of cryptocurrency that is able to facilitate its users to conduct all transactions at a fairly low cost, everyone certainly needs a central bank to convert their digital money in the form of currency used because most countries cannot fully legalize cryptocurrency as a means of payment or other needs.

I will not deny that banks are needed, however they have abused their privileged position and have taken advantage of the people for too long, this is the reason that regardless of the culture or where you live most people actually hate banks because they know that they are taking advantage of them, but until very recently we really didn't have any option and we had to accept their abuses, but now thanks to bitcoin that is slowly changing and it is possible that in the future we could live by using only our bitcoin and not having to deal with the banking system.