Bitcoin Forum
January 28, 2020, 01:24:17 PM *
News: Latest Bitcoin Core release: 0.19.0.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 2 3 [4]  All
  Print  
Author Topic: Banks Are Never There When You Need Them - That's Why We Need Bitcoin  (Read 362 times)
kerryberry78
Newbie
*
Offline Offline

Activity: 24
Merit: 0


View Profile
December 02, 2019, 07:57:09 AM
 #61

 Maybe banks do not have guarantees of protection, but at least they have a cleaner reputation and do not need to constantly look for an exchange that does not deceive and where you can not worry about money laundering. Legalization of cryptocurrencies is what we are waiting for, because I seriously get more problems not selling crypto but buying it to go through verification procedures, find a good exchange, etc. (since a small part of exchanges works with my region)

1580217857
Hero Member
*
Offline Offline

Posts: 1580217857

View Profile Personal Message (Offline)

Ignore
1580217857
Reply with quote  #2

1580217857
Report to moderator
1580217857
Hero Member
*
Offline Offline

Posts: 1580217857

View Profile Personal Message (Offline)

Ignore
1580217857
Reply with quote  #2

1580217857
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1580217857
Hero Member
*
Offline Offline

Posts: 1580217857

View Profile Personal Message (Offline)

Ignore
1580217857
Reply with quote  #2

1580217857
Report to moderator
1580217857
Hero Member
*
Offline Offline

Posts: 1580217857

View Profile Personal Message (Offline)

Ignore
1580217857
Reply with quote  #2

1580217857
Report to moderator
1580217857
Hero Member
*
Offline Offline

Posts: 1580217857

View Profile Personal Message (Offline)

Ignore
1580217857
Reply with quote  #2

1580217857
Report to moderator
angrynerd88
Sr. Member
****
Offline Offline

Activity: 714
Merit: 253

CryptoTalk.Org - Get Paid for every Post!


View Profile
December 02, 2019, 12:09:34 PM
 #62

No doubt traditional banking system is worst and just waste of time,Traditional banking system limits the global transactions.While Bitcoin has no restrictions and we are free from all hurdles and globally connected.

 
                                . ██████████.
                              .████████████████.
                           .██████████████████████.
                        -█████████████████████████████
                     .██████████████████████████████████.
                  -█████████████████████████████████████████
               -███████████████████████████████████████████████
           .-█████████████████████████████████████████████████████.
        .████████████████████████████████████████████████████████████
       .██████████████████████████████████████████████████████████████.
       .██████████████████████████████████████████████████████████████.
       ..████████████████████████████████████████████████████████████..
       .   .██████████████████████████████████████████████████████.
       .      .████████████████████████████████████████████████.

       .       .██████████████████████████████████████████████
       .    ██████████████████████████████████████████████████████
       .█████████████████████████████████████████████████████████████.
        .███████████████████████████████████████████████████████████
           .█████████████████████████████████████████████████████
              .████████████████████████████████████████████████
                   ████████████████████████████████████████
                      ██████████████████████████████████
                          ██████████████████████████
                             ████████████████████
                               ████████████████
                                   █████████
YoBit AirDrop $|
Get 700 YoDollars for Free!
🏆
angrybirdy
Sr. Member
****
Online Online

Activity: 490
Merit: 263


View Profile
December 02, 2019, 12:38:25 PM
 #63

No doubt traditional banking system is worst and just waste of time,Traditional banking system limits the global transactions.While Bitcoin has no restrictions and we are free from all hurdles and globally connected.
That's why crypto users prefer to use bitcoin to do transactions than a bank. We can use it anytime we want and there are no restrictions or legalities needed but the security is still there. It is just our own choice to face the risk of using it since there is no third party that will support every transaction we do.

THE FIRST DECENTRALIZED & PLAYER-OWNED CASINO
.EARNBET..EARN BITCOIN: DIVIDENDS
FOR-LIFETIME & MUCH MORE.
. BET WITH: BTCETHEOSLTCBCHWAXXRPBNB
.JOIN US: GITLABTWITTERTELEGRAM
peter0425
Sr. Member
****
Offline Offline

Activity: 1078
Merit: 300


★777Coin.com★ Fun BTC Casino!


View Profile
December 02, 2019, 12:42:01 PM
 #64

banks are here just to make profit from us and nothing in good intentions,all they do is pretending to be concern on us but their only concern is how to take our money "LEGALLY"

that is why Bitcoin and other cryptocurrency are here to cover for their stupidity,at least now we have full controll of our money and none can dictate us what to do.this is enough reason to prove how people are supporting cryptocurrency now and soon banks will have no claim from us.

Potent
Full Member
***
Offline Offline

Activity: 241
Merit: 100



View Profile
December 02, 2019, 12:46:22 PM
 #65

If you looking for more reasons: set inflation rate, Censorship resistant, Borderless, Doesn’t require user to identify themselves, Hard to strong arm rob Not transportation fees, Works 24-7-365, Global, Faster transfer are my favorites.

chaoscoinz
Sr. Member
****
Offline Offline

Activity: 966
Merit: 257


View Profile
December 02, 2019, 02:25:05 PM
 #66

Many people believe that the banks are never there when you need them - that's why we need Bitcoin. This idea became a subject of discussion when a Twitter user, by the name Nassim Nicholas Taleb, decided to express his frustration on the social media platform.

Taleb’s tweet was in response to an original message on Twitter that was posted by news outfit, The Daily Star Lebanon. This tweet quoted a top banking official who stated that banking operations in Lebanon will resume fully when the ongoing crisis in the nation ends. This leaves bank users frustrated, one of which is Taleb, hence his venting on Twitter.

https://www.youtube.com/watch?v=8yG14MKsKMc

Taleb’s reply attracted a lot of attention, leading to a discussion where several other Twitter users voiced their opinions in the comparison between banks and Bitcoin. Many of the opinions simply explained the deficiencies in the banking sector that Bitcoin has come to solve. Some of them are listed below.

Accessibility Problems

Banks in many parts of the world are open only on weekdays. Even though internet banking and other electronic banking systems now make it possible to access some services outside these periods. With Bitcoin, there is no day or night, neither is there weekends or public holidays. Transactions happen round the clock and across the globe.

Here is what the responder had to say;

https://twitter.com/TheSafestSpace/status/1187470765366493190

Faulty Lending Systems

Another user faulted the lending systems of banks and identified it as one of the problems that Bitcoin is going to fix. This is in support of the point that banks are never there when you need them - that's why we need Bitcoin. He responded with a popular quote by Bob Hope;

“A bank is a place that will lend you money if you can prove that you don't need it.”

The lending system by banks is faulted by many. Just like the quote above, before you are able to access loan facilities from most banks, you must produce a collateral with a higher value than the funds needed. Apart from that, the rigorous checks and research ahead of loan issuance could last for some weeks or even months in some cases. Today, there are Bitcoin lending platforms where you can access loans instantly.

Infrastructural deficiency

Another user highlighted the problems encountered with bank’s ATMs:

https://twitter.com/SirLordStacks/status/1187470363208208384

These are the kind of problems that you will not have when making transactions using BItcoin and cryptocurrencies. For many people, especially those who are already familiar with using Bitcoin or other kinds of cryptocurrencies, such limitations can be really frustrating.

Conclusion

Prior to this, the problem that most people have had when using Bitcoin and cryptocurrency is the problem of accessibility. This used to be a unique problem especially for first timers who are yet to purchase their first Bitcoin.

Recently, this barrier has become a thing of the past with platforms like Vertex.Market that have simplified the entry point for Bitcoin users, and those of other cryptocurrencies. On the Vertex platform you can easily buy Bitcoin and other cryptocurrencies using one of their 25 payment options. It is a peer-to-peer platform and the transactions are quick and straightforward, with Bitcoin or cryptocurrencies deposited directly into your wallet.

The flexibility and efficiency that Bitcoin offers is a major reason why those who make comparisons insist that banks are never there when you need them - that's why we need Bitcoin. However, several other benefits exist, such as security, cross-border efficiency, elimination of trust and transparency.

https://medium.com/@official_83664/banks-are-never-there-when-you-need-them-thats-why-we-need-bitcoin-c4fb792f616a
I really don't think that within the present state of Cryptocurrencies and blockchain technology, that crypto could survive on it's on without being able to trade against fiat currency. I think that without fiat being a medium of exchange, cryptocurrencies would die off and the market price/volume would deflate rather quickly.
   Cryptocurrencies like Bitcoin have a symbiotic relationship with fiat, that proves its partnership works very well within today's economic society. If I couldn't trade my coins against fiat, all the time I've spent learning to invest and trade with the proper etiquette would have been in vain. I would most likely short my losses and move on to other investment vehicles, as I'm sure many others would do too. That's the only way to really crush cryptocurrency, by banning its trade against fiat currency, it would be a financial disaster.  Undecided
  Just my two cents!
akirasendo17
Full Member
***
Offline Offline

Activity: 602
Merit: 203


First 100% Liquid Stablecoin Backed by Gold


View Profile
December 02, 2019, 02:34:00 PM
 #67

bitcoin is created to be an additional currency, thats what satoshi really wants but since banks never wanted bitcoin since there is not centralized
banks , finds ways not to accept it, banks are made for profit if you don't believe me can you imagine even withdrawal this days has fee's also
banks never care if you don't have money, if you wan't a loan they need assurance that you can pay them, bitcoin on the other hand as a currency
wan't transfer secure, fast, and don't need to rely on a single company, also it also give shares to the people by mining they will be paid unlike in banks
they are the one taking profit not the people

Hamphser
Sr. Member
****
Offline Offline

Activity: 1120
Merit: 257

CryptoTalk.Org - Get Paid for every Post!


View Profile
December 02, 2019, 03:28:24 PM
 #68

banks are here just to make profit from us and nothing in good intentions,all they do is pretending to be concern on us but their only concern is how to take our money "LEGALLY"

that is why Bitcoin and other cryptocurrency are here to cover for their stupidity,at least now we have full controll of our money and none can dictate us what to do.this is enough reason to prove how people are supporting cryptocurrency now and soon banks will have no claim from us.
Somehow you were right but we're the ones who approached them and why is that? Because we need them, we need them to help us with lending or loaning some money in exchange of collateral. Were in fact they are just using the money of the people to let us borrow it. And that is how legally they take our money.

 
                                . ██████████.
                              .████████████████.
                           .██████████████████████.
                        -█████████████████████████████
                     .██████████████████████████████████.
                  -█████████████████████████████████████████
               -███████████████████████████████████████████████
           .-█████████████████████████████████████████████████████.
        .████████████████████████████████████████████████████████████
       .██████████████████████████████████████████████████████████████.
       .██████████████████████████████████████████████████████████████.
       ..████████████████████████████████████████████████████████████..
       .   .██████████████████████████████████████████████████████.
       .      .████████████████████████████████████████████████.

       .       .██████████████████████████████████████████████
       .    ██████████████████████████████████████████████████████
       .█████████████████████████████████████████████████████████████.
        .███████████████████████████████████████████████████████████
           .█████████████████████████████████████████████████████
              .████████████████████████████████████████████████
                   ████████████████████████████████████████
                      ██████████████████████████████████
                          ██████████████████████████
                             ████████████████████
                               ████████████████
                                   █████████
YoBit AirDrop $|
Get 700 YoDollars for Free!
🏆
arimamib
Hero Member
*****
Offline Offline

Activity: 994
Merit: 500

CryptoTalk.Org - Get Paid for every Post!


View Profile
December 02, 2019, 03:46:08 PM
 #69

banks are here just to make profit from us and nothing in good intentions,all they do is pretending to be concern on us but their only concern is how to take our money "LEGALLY"

that is why Bitcoin and other cryptocurrency are here to cover for their stupidity,at least now we have full controll of our money and none can dictate us what to do.this is enough reason to prove how people are supporting cryptocurrency now and soon banks will have no claim from us.
Somehow you were right but we're the ones who approached them and why is that? Because we need them, we need them to help us with lending or loaning some money in exchange of collateral. Were in fact they are just using the money of the people to let us borrow it. And that is how legally they take our money.
in banks they are looking for profits from the velocity of money that occurs, and some income from the results of the use of bank fees they are looking for profits from these things because they are a form of company. so I think it's natural for that.

 
                                . ██████████.
                              .████████████████.
                           .██████████████████████.
                        -█████████████████████████████
                     .██████████████████████████████████.
                  -█████████████████████████████████████████
               -███████████████████████████████████████████████
           .-█████████████████████████████████████████████████████.
        .████████████████████████████████████████████████████████████
       .██████████████████████████████████████████████████████████████.
       .██████████████████████████████████████████████████████████████.
       ..████████████████████████████████████████████████████████████..
       .   .██████████████████████████████████████████████████████.
       .      .████████████████████████████████████████████████.

       .       .██████████████████████████████████████████████
       .    ██████████████████████████████████████████████████████
       .█████████████████████████████████████████████████████████████.
        .███████████████████████████████████████████████████████████
           .█████████████████████████████████████████████████████
              .████████████████████████████████████████████████
                   ████████████████████████████████████████
                      ██████████████████████████████████
                          ██████████████████████████
                             ████████████████████
                               ████████████████
                                   █████████
.YoBit AirDrop $.|.Get 700 YoDollars for Free!.🏆
tsaroz
Legendary
*
Offline Offline

Activity: 1722
Merit: 1055

CryptoTalk.Org - Get Paid for every Post!


View Profile
December 02, 2019, 04:12:53 PM
 #70

Crypto would not just counter Banks, it would also make baking efficient. One of the reason why banking sucks is it's large profit margin which is required to sustain a huge amount of manpower and logistics alongside of giving a profit to the stakeholders. They have become so huge and costly that they are now a negative aspect of the economy. Blockchain can help them solve their problem. With all of automation blockchain to verify transactions, banks can be efficient once again.

 
                                . ██████████.
                              .████████████████.
                           .██████████████████████.
                        -█████████████████████████████
                     .██████████████████████████████████.
                  -█████████████████████████████████████████
               -███████████████████████████████████████████████
           .-█████████████████████████████████████████████████████.
        .████████████████████████████████████████████████████████████
       .██████████████████████████████████████████████████████████████.
       .██████████████████████████████████████████████████████████████.
       ..████████████████████████████████████████████████████████████..
       .   .██████████████████████████████████████████████████████.
       .      .████████████████████████████████████████████████.

       .       .██████████████████████████████████████████████
       .    ██████████████████████████████████████████████████████
       .█████████████████████████████████████████████████████████████.
        .███████████████████████████████████████████████████████████
           .█████████████████████████████████████████████████████
              .████████████████████████████████████████████████
                   ████████████████████████████████████████
                      ██████████████████████████████████
                          ██████████████████████████
                             ████████████████████
                               ████████████████
                                   █████████
.YoBit AirDrop $.|.Get 700 YoDollars for Free!.🏆
crisanto01
Sr. Member
****
Offline Offline

Activity: 630
Merit: 253

CryptoTalk.Org - Get Paid for every Post!


View Profile
December 02, 2019, 05:20:07 PM
 #71

bitcoin is created to be an additional currency, thats what satoshi really wants but since banks never wanted bitcoin since there is not centralized
banks , finds ways not to accept it, banks are made for profit if you don't believe me can you imagine even withdrawal this days has fee's also
banks never care if you don't have money, if you wan't a loan they need assurance that you can pay them, bitcoin on the other hand as a currency
wan't transfer secure, fast, and don't need to rely on a single company, also it also give shares to the people by mining they will be paid unlike in banks
they are the one taking profit not the people

It's not that banks never wanted Bitcoin, but how come they will do it if the government itself will not in favor with it, for sure they just wanted something to be in legal, let's wait for more years as we can see once the crypto is regulated and becomes legal then for sure they will add it as one of their legal tender, so let's just wait for it for now, soon they will realize the advantage of cryptos.

 
                                . ██████████.
                              .████████████████.
                           .██████████████████████.
                        -█████████████████████████████
                     .██████████████████████████████████.
                  -█████████████████████████████████████████
               -███████████████████████████████████████████████
           .-█████████████████████████████████████████████████████.
        .████████████████████████████████████████████████████████████
       .██████████████████████████████████████████████████████████████.
       .██████████████████████████████████████████████████████████████.
       ..████████████████████████████████████████████████████████████..
       .   .██████████████████████████████████████████████████████.
       .      .████████████████████████████████████████████████.

       .       .██████████████████████████████████████████████
       .    ██████████████████████████████████████████████████████
       .█████████████████████████████████████████████████████████████.
        .███████████████████████████████████████████████████████████
           .█████████████████████████████████████████████████████
              .████████████████████████████████████████████████
                   ████████████████████████████████████████
                      ██████████████████████████████████
                          ██████████████████████████
                             ████████████████████
                               ████████████████
                                   █████████
YoBit AirDrop $|
Get 700 YoDollars for Free!
🏆
Edraket31
Hero Member
*****
Offline Offline

Activity: 1064
Merit: 511


CryptoTalk.Org - Get Paid for every Post!


View Profile
December 03, 2019, 02:39:54 AM
 #72

In some ways Bitcoin can be useful and helpful than Bank but i think both have different worth like they brings so much convenience in life so example i use some Banks already many times for saving and paying some services,items then more so i'm not experience bad and i do this for long then here in crypto with Bitcoin then i use this for investing,saving then more so both are good for using still we can experience some negative about both of this then in bank we regulate by government then in crypto we don't have regulator

At the end of the day, we need both of them, we don't need to compare which is better which is what we need, as they will be both useful especially now and in the future, we don't need to let the banks disappear as it has a lot of advantage in our society and economy and we all know it will be part of our journey until the end, for sure once regulated, banks will fully adapt the use of crypto to add in their transactions too.

 
                                . ██████████.
                              .████████████████.
                           .██████████████████████.
                        -█████████████████████████████
                     .██████████████████████████████████.
                  -█████████████████████████████████████████
               -███████████████████████████████████████████████
           .-█████████████████████████████████████████████████████.
        .████████████████████████████████████████████████████████████
       .██████████████████████████████████████████████████████████████.
       .██████████████████████████████████████████████████████████████.
       ..████████████████████████████████████████████████████████████..
       .   .██████████████████████████████████████████████████████.
       .      .████████████████████████████████████████████████.

       .       .██████████████████████████████████████████████
       .    ██████████████████████████████████████████████████████
       .█████████████████████████████████████████████████████████████.
        .███████████████████████████████████████████████████████████
           .█████████████████████████████████████████████████████
              .████████████████████████████████████████████████
                   ████████████████████████████████████████
                      ██████████████████████████████████
                          ██████████████████████████
                             ████████████████████
                               ████████████████
                                   █████████
.YoBit AirDrop $.|.Get 700 YoDollars for Free!.🏆
Excell110
Jr. Member
*
Offline Offline

Activity: 46
Merit: 14


View Profile
December 03, 2019, 07:11:43 AM
 #73

Oh you have had a taste of it too, lol.
 The current banking system is flawed and lack the infrastructure to provide the best to the users.

 I recall making a transaction that was hanging for 3 days,  this shows that the banks can't fulfil the needs of the users, Bitcoin on the other hand us showing great potentials.
sana54210
Legendary
*
Offline Offline

Activity: 1694
Merit: 1050

CryptoTalk.Org - Get Paid for every Post!


View Profile
December 03, 2019, 07:41:09 AM
 #74

Like you said, things got quite better ever since internet banking was introduced. The problem I do have with banks in my country is that withdrawing cash is always a big problem. If you go to banks to withdraw cash there is a certain amount you will have to be withdrawing before you're allowed to use the over-the-counter service. But, if you're withdrawing an amount that is less, you will have to make use of the ATM, and using the ATM is another big problem. Sometimes you will have to stand like forever, waiting for your turn to use the Machine and it can be frustrating.

Another thing is an international transaction – using banks is a waste of time due to their slow process in the money transferred. That's why Bitcoin is better you can make quick transaction to any country and with fees that are way too less than what it would cost in banks.

 
                                . ██████████.
                              .████████████████.
                           .██████████████████████.
                        -█████████████████████████████
                     .██████████████████████████████████.
                  -█████████████████████████████████████████
               -███████████████████████████████████████████████
           .-█████████████████████████████████████████████████████.
        .████████████████████████████████████████████████████████████
       .██████████████████████████████████████████████████████████████.
       .██████████████████████████████████████████████████████████████.
       ..████████████████████████████████████████████████████████████..
       .   .██████████████████████████████████████████████████████.
       .      .████████████████████████████████████████████████.

       .       .██████████████████████████████████████████████
       .    ██████████████████████████████████████████████████████
       .█████████████████████████████████████████████████████████████.
        .███████████████████████████████████████████████████████████
           .█████████████████████████████████████████████████████
              .████████████████████████████████████████████████
                   ████████████████████████████████████████
                      ██████████████████████████████████
                          ██████████████████████████
                             ████████████████████
                               ████████████████
                                   █████████
.YoBit AirDrop $.|.Get 700 YoDollars for Free!.🏆
Pages: « 1 2 3 [4]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!