Bitcoin is better than your bank!

[Chris Barth]

Many people are just ignorant about bitcoin and I believe that writing an article (as a writer I am) is worth it for bitcoin. Therefore, I decided to write this article to help elaborate (https://link.medium.com/X934BlPLW3).
Please endeavour to READ! and share it too.
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

[1714166187]

1714166187

[palle11]

It is not that many people don't want to use bitcoin but we should understand and realize change is always faced with challenges and resistance until a certain time where it gets adopted or accepted but one big challenge that it could face with bank is the internet connection to transaction which many people don't have too. Bitcoin is decentralized which means an individual should be responsible for their business but the internet would defeat this where people can't access it without a third party.

[bitbunnny]

Well, Bitcoin gives us more freedom than traditional fiat currencies and using it we are not depending on banks.
However, we still can't rely only on Bitcoin. People still earn their money in traditional currencies and Bitcoin isn't fully accepted, regulated or introduced formaly into our societies, economy and financial systems.
Like you've said many people still don't know much about Bitcoin, don't trust it, don't have access to it or simply not interested to use it.
I don't think that is going to change any time soon and majo of people will remain dependent on fiat currencies and banks, that is the fact.

[Zicadis]

"Banks! That's all we've known as "the only option". Ask someone how you can send money to someone and the response will be "use the bank!".

I actually disagree with this, at least among millenials this definitely isn't the main way people send money anymore.

If you ask people how they send money these days, it's through payment processor apps like Venmo, Paypal, Square etc. The bank is only used by professionals and businesses.

That said, I also don't agree that BTC is necessarily better than the bank either, at least not in its current iteration. The publicly available blockchain is far too intrusive for my liking, we need some way of obfuscating this data.

Once that's added, BTC stomps banks.

[samcrypto]

Its works better but we still need the banks since bitcoin can’t consider as a legal currency. The banks will stay despite of their poor financial system, they also have a good services but when I found bitcoin, I realize so many things. It will take time to break the resistance of people to adopt bitcoin, a long way to go but if we are able to push our government to make it legal, then bitcoin and banks can work together and gives the best service that we deserve.

[FlightyPouch]

Bitcoin is known since it is the first crypto currency, the problem though is that it is popular for us but for them, it is not. With the scam all over our country relating to crypto currencies, bitcoin and other cryptos are labeled as a scam by these people that has no idea of what they are talking about. With the creation of bitcoin, a lot of people have their freedom and that is the reason why some take advantage of it. Even with the legalization of crypto currencies in our country, using it is still limited and we have no other choice but to use an exchange to be able to transact it. We are still not paying directly bitcoin since these exchanges convert that into fiat.

[Kemarit]

I wouldn't say it's better than bank, but at least we have a alternative and the economic freedom. We just need to educated ourselves though, majority just go to Bitcoin without understanding how to protect it that's why when we hear that someone's wallet gets hack, then immediately blame it to Bitcoin.

For me the best thing to do is just enjoy the best of both worlds, we really don't need to shout and says that the old and traditional banking system will become obsolete because of Bitcoin and crypto. Much better to take advantage of both systems.

[Botnake]

Majority of the people in the world trust fiat over bitcoin, you are right making and sharing more articles about how good bitcoin is would help the adoption process but I believe it's not gonna be fast and easy.

Anyway, I expect that in the long run they will be educated so they can start using bitcoin.
However we cannot expect that majority of them will do, why? because bitcoin is volatile and they don't want to risk their money especially if the purpose is just to save money and not to invest.

[Gladiator25]

Many people are just ignorant about bitcoin and I believe that writing an article (as a writer I am) is worth it for bitcoin. Therefore, I decided to write this article to help elaborate (https://link.medium.com/X934BlPLW3).
Please endeavour to READ! and share it too.
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

It's true that bitcoin has many advantage than the banks. Just like from your article, the transactions made by the bitcoin is far better since it's 24/7 working than the bank but the downside using bitcoin is that, bitcoin in other country is not accepted or banned and you can't make transaction of course from that country. Also, one of its drawback is that not all people know bitcoin and they need to learn all the basics for them to use it.

[maxreish]

I admire for you being a crypto writer. But not everyone else is open minded for new things like bitcoin. Comparing bitcoin with banks is not a suitable article (well, as for me) because both have advantages and both has a flaws. If people want to control their own money, bitcoin is there to fill what they want. But not all will give up banks.
 
 Government will definitely not fully accept bitcoin and replace it. We can still do better things with using bitcoin and banks. If people do want the same benefits from those two, no need to choose one.

[TitanGEL]

We cannot force someone to just invest in bitcoin than to save in banks. It is not their fault I think because they focus to save money than to invest and that is why they prefer to store their money in banks to invest it in bitcoin. They are not trained to see opportunities and that is why they still prefer to put their money in banks even they only getting negative interest rates. We cannot convince someone to put money in bitcoin because there are always a risks and they can lose their fund their if they do not have enough knowledge about it.

[davis196]

Banks! That's all we've known as "the only option". Ask someone how you can send money to someone and the response will be "use the bank!".

I'm not a fan of banks,but no,they are NOT the "only option".We have paypal,a bunch of paypal clones,western union,etc.

* Using banks for transactions, you must connect to be the bank first. In other words, there’s no way you can send or receive money without the bank approving it. This also means that if the bank goes offline, your money is as good as offline too.

* There's also a daily/monthly limit in transferring/receiving money if it is connected to the bank. This means you can't make certain transactions (if the amount to transact is above the daily/monthly limit).

* In fact, I still remember when I heard a relative of mine saying that it's not easy to send money from one country to another (even countries in the same region). Sometimes, you may send this money and eventually, the bank network issues comes up to frustrate your plan.

Do you really think that the Average Joe cares about those issues?
People tend to stick with what is already known(even if it's more expensive and not so convenient),and what they are familiar with.If you were using a bank for 20 years,would you switch to using bitcoin in one day.You will have to learn some technical terms,create a wallet,ask your friends and relatives to create BTC wallets(so you could send them coins) and learn more about bitcoin.It's not that easy.

[MinerHQ]

When I ask someone how to send money, remittance is the answer but just like the banks, they are centralized unlike bitcoin.

People still can't noticed the good attributes of bitcoin. It's cheap although there's cheaper but the acceptance of it worldwide is already widening and can't be denied.

Even though bitcoin transactions are cheaper and its transactions are not so easy to trace unless the user provides their details but people are not using it for the day to day activities. As of now most of the people use it for investment purposes or gambling or doing some hidden activities. The main reason for it is in many countries bitcoins are not accepted as a currency yet and they may need to spend additional charges to convert it to fiat. Once all these kinds of issues are solved then surely bitcoin demand will increase many folds.

[White Christmas]

Many people are just ignorant about bitcoin and I believe that writing an article (as a writer I am) is worth it for bitcoin. Therefore, I decided to write this article to help elaborate (https://link.medium.com/X934BlPLW3).
Please endeavour to READ! and share it too.
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

What a good article you have been shared to us, I have read the article and it is very nice I can consider it as a good article that can be truely need to share to the mass in order for them to be well known on what bitcoin is.
Does bitcoin really better than the bank? Yes I think so, why? Maybe it is just because you can make transactions and send bitcoin or money through the use of wallets or digital wallets so that you will not be able to use banks anymore when you are doing a huge transactions and etc.

[Jating]

* Using banks for transactions, you must connect to be the bank first. In other words, there’s no way you can send or receive money without the bank approving it. This also means that if the bank goes offline, your money is as good as offline too.

It's not that we must connect to the bank first, but when we convert crypto to fiat, definitely, banks will be involved here or at least some remittance services. Unless crypto is really accepted everywhere, we might see banks in the near future.

We might see bitcoin grows in the future, so not many merchant are going to accept it as payment because of its volatile nature. Now it is treated as investments or store of value.

[alexsandria]

We cannot compare Bitcoin to be better than banks as most of the Cryptocurrency is a decentralized form of currency where most of the investors in Bitcoin invest for it gives the highest return than keeping the money in the banks in the present situations. Most of the people use banks for all their daily transactions and banks are centralized warehouses to keep all the transactions recorded and kept on a given account.

Bitcoins being decentralized currency people are investing in it to earn big fat money fast with a good rate of interest on their investments it has its own way of operations where all the transactions are kept secretly in blockchain ledgers. If all the world population accepts Cryptocurrency and then even banks are forced to operate in crypto and then we can say bitcoin is better than bank

Why we shouldn't compare bitcoin to banks? I think there is also a reason why we can compare bitcoin to banks because there are so many differences between the banks and bitcoin and first of this is the transaction on how the people are making transactions through the used of banks and through the used of digital money another example is the investing of money in which the people are still choosing bitcoin over banks in order for them to earn big and fsst than to invest to banks which is have a small amount of interest.

[boyptc]

When I ask someone how to send money, remittance is the answer but just like the banks, they are centralized unlike bitcoin.

People still can't noticed the good attributes of bitcoin. It's cheap although there's cheaper but the acceptance of it worldwide is already widening and can't be denied.

Even though bitcoin transactions are cheaper and its transactions are not so easy to trace unless the user provides their details but people are not using it for the day to day activities. As of now most of the people use it for investment purposes or gambling or doing some hidden activities. The main reason for it is in many countries bitcoins are not accepted as a currency yet and they may need to spend additional charges to convert it to fiat. Once all these kinds of issues are solved then surely bitcoin demand will increase many folds.

It still needs to be adopted and be known by the mainstream but the good thing here is that they have already an idea of what bitcoin is. A no coiner will not understand the good features of it and they only know that it's just a plain internet money.

But they didn't know that it has its own integrated feature and way to send directly to others.

[isaac_clarke22]

Aside from price, I would like to add up about security.
I remembered back in the days where my professor told me that there is no perfect security because someone totally made the security. It is just that the pay keeps them away from taking advantage of their control.
I never felt safe in using credit cards from banks ever, after I heard this.
Even though Bitcoin is still made by someone, it never failed me to satisfy transactions while in banks there are gonna be hidden charges.

[wack slacker]

Bitcoin gives us more freedom with faster transactions and is not subject to the strict management of banks and governments.  But the drawback of Bitcoin is that there are no other banking functions like lending money or saving deposits to receive passive interest rates.  We can actually deposit money in a bank but we will have a more stable interest rate.  Pouring money into Bitcoin is not really good because based on what happened, Bitcoin peaked at 20k in 2017 and soon dropped sharply in late 2018. If anyone has invested in Bitcoin at the end of 2017, it will  Big losses in 2018.

[Reid]

I am a true supporter of bitcoin but there are points here in your article that really caught my eye.

* Thirdly, you can send payments to anyone at anywhere and at anytime using bitcoin. One of the most amazing aspects of this is that these transactions are performed in an average of a few minutes (irrespective of the location of the sender and receiver) and with that, only a few dollars (could even be half a dollar) is charged as transaction fee.

It ain't that fast anymore. Just telling the truth.
You need to spend a lot if you want to make it faster. I am still telling the truth.
Have you tried to do a transaction at this date? How much was it?

Honestly, bitcoin doesn't have much negativity. The main point you're to know is that bitcoin is volatile; It's worth increases/reduces haphazardly. A good example of this is in the year 2010 (when bitcoin came into play). It's price as at then was 0.08$ but today, it worths over 9,000$. Sounds cool right? Well, this movement can sometimes be negative due to the volatility of the currency.

This is also eye catching for me.
I don't really like it when people are talking about the price and how much it grew.
You are explaining it to be better than a bank. Right? So why go there?
Also you are trying to define it as a currency. Why explain the changes of price in USD? (in bold up there)
Let us say you are buying a candy with 1 BTC. Would you say it is overpriced? Should not right?

When I explain it to my colleagues I don't go that far.
When they ask about prices and the volatility I say "Wait a second!" .
Just don't want to confuse them about what the technology is all about and not just another buyer because of a store of value.
It needs to be a currency in description.

[Artemis3]

"Banks! That's all we've known as "the only option". Ask someone how you can send money to someone and the response will be "use the bank!".

I actually disagree with this, at least among millenials this definitely isn't the main way people send money anymore.

If you ask people how they send money these days, it's through payment processor apps like Venmo, Paypal, Square etc. The bank is only used by professionals and businesses.

That said, I also don't agree that BTC is necessarily better than the bank either, at least not in its current iteration. The publicly available blockchain is far too intrusive for my liking, we need some way of obfuscating this data.

Once that's added, BTC stomps banks.

It must be nice to live in a country with economic freedoms for you to make a comment like this. There are places with millions of people where access to foreign currencies is heavily restricted. Paypal doesn't work without a credit card, and to get that you need a bank account in a foreign country (a country whose fiat can be freely exchanged into USD) with significant movement to warrant issuing a credit card with the smallest of credits tolerable to the bank.

Everywhere in the world access to bitcoin is possible, but not foreign currencies. Have you ever faced the difficulties a foreigner must face just to open a bank account in America, so he/she could then start getting access to all those fabled services you mention? And that is before the American government starts forbidden companies from dealing with said country.

Did you even notice all those steps, and often expensive and slow procedures all go away with Bitcoin?

Yes it is easy when you live in the land of freedom, but stop to think what happens when you do not. Ever paid attention to the list of countries service X is not allowed? No because you don't live there, why would you care?

Let me "try" to give you a tale.

I live in a country where the average monthly wage is $5 (as in FIVE US dollars). A visa to ENTER the United States costs at least $150 per attempt to get, they mostly deny it. No, we cannot enter without it, 3 month non visa required tourism is a benefit for the "nice" countries only. Also the US Embassy was closed, so if you wanted to obtain one you would have to travel to a neighbor country. Unlike in "nice" Europe, where such a deal would take under $100 for a plane ticket, around here getting to the neighbor country means at least $400 USD, AND many countries now require a visa simply to enter, which in turn costs more money and paperwork demonstrating "somehow" that you are totally not going to overstay working there...

And that's even before putting a step in the destination, now suppose you did (and the immigration officer didn't turn you back because he/she didn't like you); you now go to the bank and face a new wall of difficulty just to open a bank account. Things like having, i don't know 10k USD lying around (hope you could declare those without looking suspicious) AND all the paperwork KYC, etc. Its often simply not allowed and you better have a friend making you look like you live there (ie. utility bill) etc. And then the bank has fees if you don't move certain amount. Yes there are services that give you a virtual address and re-mailing from the States, but that is even more money most normal people simply can't afford.

All this mess and we still haven't gotten to your fabled services. Paypal requires a credit card, now you might get those in your place by shopping at the grocery store or something, but that is not how it is elsewhere. Convince your foreign bank that you are "Worth" getting a $500 USD credit card or whatever the smallest valid amount it, who cares you deposited 5k...

All this wall of text and i have not even began describing the mountain of hurdle all of this is, compare to Bitcoin where all you need is download a wallet, and often not even that (but its best).

You cannot naively use Western Union or the likes when you live in a place with restriction to foreign currencies, at best you'd get absurd taxes and at worst you won't get anything (or the service is forbidden).

Do note that a country where Bitcoin is banned cannot stop Bitcoin, but you would need to be smarter like using Tails with Electrum, etc. However a country where the USD is banned, is a whole different ball game. Think drug dealer like life, when foreign currency trading becomes a black market. Of course you haven't lived that in your nice place.

Just because politicians have the power to ruin your life, doesn't mean they would... Or would they? Said anyone who lived prior hyperinflation.

Public blockchain records are not an issue if you don't let them associate your real person to your address and only make a single transaction per address. You can go to an altcoin if that makes you feel better, but Bitcoin holds its value better than any other, while being completely free from the State.

[FaithInCrypto]

Well for me everything depends on the situation. In some cases, Bitcoin is better (as we believe in it) but others do not, so we can't force them to believe and act as we do. Banks had been present in human lives since the 1400s or 1600s so we can't really remove it from the system easily. They already had established their names and have an outstanding performance in the community which people prefer to believe than in cryptocurrency which only is operational for a decade or so. What I mean is, we can't fully use Bitcoin as of the moment because out fiat is often stored in the bank.

[thesmallgod]

You cannot achieve all the things you can achieve with fiat currency. This is because crypto has not been widely accepted for payment of most of the things you purchase using fiat currencies, especially for domestic uses. However, despite the fact that a lot of people are working towards making crypto a universal currency, there are still many that have stopped to accept it because of the volatility and which I think it is part of the drawback associated with the coin. Having a currency that you can use to pay for something abroad which cannot be achieved using fiat and local fiat dominated card due to government policies is one major obstacle that crypto has taken care of in many cases.

[Baoo]

Actually, there is a huge difference between Bitcoin or digital currencies in general and Banks in all the ways, Bitcoin's characteristics give you  a feeling of comfort and safety through the low value of fee in trasntactions, the security, no exploitation.. and more but unfortunately, the opposite is true for all the banks, they just want to control and exploit their clients,  that's definitely unacceptable. Plus, I don't really expect that the bank will disappear especially in next few years because the world economy linked to FIAT ( like, Euro, Dollars, Yen..ect )

[LUCKMCFLY]

The conception of a bank with respect to Bitcoin is usually very subjective, if we go to the benefits of Bitcoin with respect to banks there are many advantages, since no third party permission is needed, in addition, the fact that bitcoin is totally Decentralized says a lot because it does not depend on any regulation made in its development by any government.

The advantage of the bank over Bitcoin is that it is accepted, legally has jurisdiction in any country in the world, has a "backing" especially given by governments. In countries with crisis, bitcoin is a completely safe refuge, especially if it is high inflation, with respect to this, both banks and bitcoin can coexist.

[gundala]

As you mentioned in the article:

However, bitcoin is obviously a better, quicker, and private means of sending money across different countries.

Bitcoin is better, but not all countries legalize transactions with BTC, so there are still drawbacks. In addition, the same as transactions that fail if the bank is off, then transactions using bitcoin can also fail if there is no internet network, and besides, payments using BTC are still very limited.
It would be wise if we did not compare too much because banks and BTC both have advantages and disadvantages of each. the most appropriate is to combine the two, it is more useful than comparing them to determine which is the best, just wasting energy.

[btcholder]

Many people are just ignorant about bitcoin and I believe that writing an article (as a writer I am) is worth it for bitcoin. Therefore, I decided to write this article to help elaborate (https://link.medium.com/X934BlPLW3).
Please endeavour to READ! and share it too.
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

Ignoring bitcoin is not new thing actually. It's always happen science bitcoin arrived as a digital asset. Most people afraid about bitcoin or blockchain technology because they don't know well about it. Bitcoin arrived couple of years ago so in my opinion it need more times to understand for people what is it and why people need bitcoin in their life. And you can see that everyday bitcoin popularity are increasing. Many school/college teach their lesson about bitcoin.

We are know about bank or FIAT money after we born in this world. But about bitcoin just couple of years. So It's totally pointless if we compare between bank and bitcoin. There is no doubt that in near future people will denial Bank and use bitcoin or blockchain technology for their financial life.

[bearexin]

Bitcoin gives us more freedom with faster transactions and is not subject to the strict management of banks and governments.  But the drawback of Bitcoin is that there are no other banking functions like lending money or saving deposits to receive passive interest rates.  We can actually deposit money in a bank but we will have a more stable interest rate.  Pouring money into Bitcoin is not really good because based on what happened, Bitcoin peaked at 20k in 2017 and soon dropped sharply in late 2018. If anyone has invested in Bitcoin at the end of 2017, it will  Big losses in 2018.

Let's be honest here and while I too love bitcoin and that's why I am here but below are the reasons I feel bitcoin still is behind banks in terms of ease :

1- Acceptance: Not everyone accepts bitcoins while everyone who accepts bitcoins surely accepts bank cards

2- Trust: Bitcoins being decentralized it always has been a pleasure but at the same time there is no guarantee, I mean the money in your bank is protected by your government while bitcoins you cannot say anything to anyone if tomorrow you hear bitcoin is 0. The area where I see bitcoins superior to bank is that bitcoins give you the control over your money while banks take control over your money.

[Artemis3]

Let's be honest here and while I too love bitcoin and that's why I am here but below are the reasons I feel bitcoin still is behind banks in terms of ease :

1- Acceptance: Not everyone accepts bitcoins while everyone who accepts bitcoins surely accepts bank cards

2- Trust: Bitcoins being decentralized it always has been a pleasure but at the same time there is no guarantee, I mean the money in your bank is protected by your government while bitcoins you cannot say anything to anyone if tomorrow you hear bitcoin is 0. The area where I see bitcoins superior to bank is that bitcoins give you the control over your money while banks take control over your money.

If you come to my country right now your credit card is useless. The Trump administration ordered Visa and Mastercard out, they cannot process payments here. Even before that, there were many places where credit card were not accepted for various reasons.

Bitcoin's price is based on the market, that is the amount of people who find it useful overpower the ones that consider it not useful. The tendency not only has not regressed, it keeps increasing over time, albeit slower and slower as it should be for a coin that does not lose value because its production is limited in code and cannot be changed on a whim of a select few. Bitcoin is valuable because of the made its made, and because of its distinct features. The proof is the market price. It cannot go zero over night like you imply, because the market is backing it up. Any attempts of dumping it will find and equal and probably stronger force of pumping it.

If you still do not understand this, you do not understand the value of things. The value of things depends on the usefulness to both the seller and the buyer. It is useful to millions of people, this is why it has the value it has.

Things that go zero overnight are things that can be destroyed, like companies, governments of countries. There is nothing in particular you can do to destroy Bitcoin, short of destroying electricity generation and communications worldwide. It is easier to see the US dollar or the Euro disappear than Bitcoin. Even gold is weaker. Each Bitcoin (satoshi) is unique and its intangible, it can be exchanged across borders at the speed of light (confirmation takes minutes but thats another matter). Bitcoin is so useful the number of people wanting it is slightly increasing over the amount of coins that are and will ever be available, which is why its price keeps climbing. Well that, and the fact that all fiat coins have infinite production, which makes them lose value intentionally over time.

Once you understand this and the rest of the features that make Bitcoin secure and reliable, you get to understand while the demand keeps even after 11 years and counting.

[finaleshot2016]

When it comes to transactions, obviously bitcoin will win for being decentralized but banks have also it's a unique way of transaction. I think it's very non-sense to compare both 'cause for me, this both things are important. We shouldn't always rely on having decentralized transactions. How will you get your money from a decentralized transaction? Probably it will still go through your bank or any payment options to receive it.

An increase in the market is not always a good thing, if you think widely, whales are the ones who really benefit here not us. Therefore, control in this kind of situation is needed sometimes so having centralized platforms like banks are needed in our country. So basically, they're different and shouldn't be compared to each other.

[Gumpfire]

Bitcoin is known since it is the first crypto currency, the problem though is that it is popular for us but for them, it is not. With the scam all over our country relating to crypto currencies, bitcoin and other cryptos are labeled as a scam by these people that has no idea of what they are talking about. With the creation of bitcoin, a lot of people have their freedom and that is the reason why some take advantage of it. Even with the legalization of crypto currencies in our country, using it is still limited and we have no other choice but to use an exchange to be able to transact it. We are still not paying directly bitcoin since these exchanges convert that into fiat.

This is actually true, for now, we really can't avoid not-so-good things that are happening in the cryptoworld, so a lot of people who don't use cryptocurrencies conclude that cryptos are scam. In order for them to understand how it really goes, we should explain to them, like the author of this thread, and share this to your friends and relatives so that they may accept cryptocurrency.

[rossashriel_17]

In my opinion both bitcoin/crypto currencies have their own advantage and disadvantage, there is no better to one another because it has both weakness and strength  bitcoin gives us more freedom of our crypto  since that the government have  no holds to it , we have all the authority of our digital money, but  it still have fault in it , we have no security (well according to my knowledge I still need to do some readings about it) and since that crypto are still not accepted in some countries  it is really hard to keep it and rely on it. While banks is your money is secured yes  your money is safe and  it us easy access on a daily basis  but  lets all be real non of us dont really trust  banks when it comes in putting all our money on it that us why we all are here  investing our money  not all but some of our money so we can maximize the potential of  growing it not keeping it stagnant.

[sisule]

Many people are just ignorant about bitcoin and I believe that writing an article (as a writer I am) is worth it for bitcoin. Therefore, I decided to write this article to help elaborate (https://link.medium.com/X934BlPLW3).
Please endeavour to READ! and share it too.
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

Better than bank if saving bitcoin in the right place and have higher price next time but how come if your bitcoin assets save in bad exchange and then bitcoin down with lower price, still you can say bitcoin is better than  your bank? I think always have possibility for bank and bitcoin get benefit and weakness each other.

[BlackFor3st]

Many people are just ignorant about bitcoin and I believe that writing an article (as a writer I am) is worth it for bitcoin. Therefore, I decided to write this article to help elaborate (https://link.medium.com/X934BlPLW3).
Please endeavour to READ! and share it too.
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

Upon learning what is bitcoin and it's advantages compare to the current bank system I can fully say that banks are no match to how bitcoin works and what type of services it provides to it's users.

The transaction fees of bitcoin is much lower compare to banks and even if you send millions of bitcoin bitcoin system will process it right away unlike in banks. The freedom that it also gives to the users as it doesn't ask any documents before you can use bitcoin system.

[sheenshane]

You don't understand. I agree that Bitcoin is a very good cryptocurrency but it doesn't need to be compared to a bank. The two have different roles. In saving and investment, Bitcoin has the best role but when it comes to financing, probably bank has a great role than the cryptocurrency. Let's just accept the fact that cryptocurrency is always good for an alternative way than banks.

What we need to understand is we need to learn how to use these financial instruments as advantages to achieve our financial success. Each and every finance instruments have different roles and you must utilize each and everything of them.

[wozzek23]

I would say that anyone who invests in Bitcoin without knowing that it is volatile would probably think that it is a scam if the price should fall and they lose their money.

I have seen a lot of people that didn't know anything about Bitcoin and just jumped into it because of what they were told by their friends and when they ended up losing money they started saying that Bitcoin is a scam. And yes there are people who are afraid to use Bitcoin due to the volatile nature, they are afraid that they may lose their money if they save it in a crypto wallet. And there are also people who are ready to take that risk, everyone's not the same.

[Shasha80]

It's not easy to convince others to choose investments in bitcoin compared to saving at a bank. Thank you for sharing the article,
hopefully the article can help convince others to understand the excess investment in bitcoin. Actually, the cause of people
not interested in investing in bitcoin, because many people lack information about bitcoin, because it's our job to educate other
people to better understand the benefits of investing in bitcoin.

[tvplus006]

The conception of a bank with respect to Bitcoin is usually very subjective, if we go to the benefits of Bitcoin with respect to banks there are many advantages, since no third party permission is needed, in addition, the fact that bitcoin is totally Decentralized says a lot because it does not depend on any regulation made in its development by any government.

The advantage of the bank over Bitcoin is that it is accepted, legally has jurisdiction in any country in the world, has a "backing" especially given by governments. In countries with crisis, bitcoin is a completely safe refuge, especially if it is high inflation, with respect to this, both banks and bitcoin can coexist.

We know the positive aspects of investing in bitcoin, but we should not forget about the negative side associated with its volatility. Therefore, each person must keep part of their funds in the Bank to reduce risks. And this will allow you to quickly resolve your problems in the event of an unexpected financial situation.

[abel1337]

The conception of a bank with respect to Bitcoin is usually very subjective, if we go to the benefits of Bitcoin with respect to banks there are many advantages, since no third party permission is needed, in addition, the fact that bitcoin is totally Decentralized says a lot because it does not depend on any regulation made in its development by any government.

The advantage of the bank over Bitcoin is that it is accepted, legally has jurisdiction in any country in the world, has a "backing" especially given by governments. In countries with crisis, bitcoin is a completely safe refuge, especially if it is high inflation, with respect to this, both banks and bitcoin can coexist.

We know the positive aspects of investing in bitcoin, but we should not forget about the negative side associated with its volatility. Therefore, each person must keep part of their funds in the Bank to reduce risks. And this will allow you to quickly resolve your problems in the event of an unexpected financial situation.

I agree with you, I myself have a bank account for my personal transactions but I really don't store many funds into my bank account, It goes to my bitcoin wallet. I don't really hate banks because it is the one I use at the time that I don't have any idea or before I discover cryptocurrency. The reason I use bitcoin is because of it's volatility and it is better than stocks, So I personally see bitcoin as an investment and not a place to keep my funds. But don't get me wrong, I do store funds that I hold and waiting for the price to go up.

[Kelvinid]

They just ignore Bitcoin it is just because of uncomfortable situation which they don't want to understand and don't want to take the risk.
And we are glad enough to see its futuristic features that everyone had enjoy more than of fiat money can do. However, its volatility seems to be closing some minds into their ignorance and not knowing how Bitcoin and cryptocurrency make a better life. In fact, Banks seems to be helpless we are totally engaged in crypto and used bitcoin for our daily transactions.

[Botnake]

They just ignore Bitcoin it is just because of uncomfortable situation which they don't want to understand and don't want to take the risk.
And we are glad enough to see its futuristic features that everyone had enjoy more than of fiat money can do. However, its volatility seems to be closing some minds into their ignorance and not knowing how Bitcoin and cryptocurrency make a better life. In fact, Banks seems to be helpless we are totally engaged in crypto and used bitcoin for our daily transactions.

Volatility really is a big problem on why people are cannot easily adopt with bitcoin.

To make it simple, here's a simple analysis of mind. If people buy bitcoin and use it, they'll take the risk but if people will use fiat to buy anything they want, they are not taking any risk,.. for now, bitcoin is only good for people who invest and use it at the same time but for typical people they'll prefer to stay away from the risk because if we talk of online, it's also possible with our banking online app for our transactions.

[Debonaire217]

It's not easy to convince others to choose investments in bitcoin compared to saving at a bank. Thank you for sharing the article,
hopefully the article can help convince others to understand the excess investment in bitcoin. Actually, the cause of people
not interested in investing in bitcoin, because many people lack information about bitcoin, because it's our job to educate other
people to better understand the benefits of investing in bitcoin.

Basically, it is not enough that we have the idea or concept regarding the advantage and the pros of investing in cryptocurrency or bitcoin, people have their own mindset where they need to keep track in being consistent in their decision making and probably I could say, that is the reason why we couldn't just invite and attract everyone to invest in bitcoin. That is because they have their own priority, but if we could have the chance to put bitcoin to their decision making, that is how it could possibly happen.

Imagine, inviting others who's mind is close to accepting bitcoin. Rather, try to invite those that are in need and the only option they have is to try to use BTC.

[Yatsan]

The conception of a bank with respect to Bitcoin is usually very subjective, if we go to the benefits of Bitcoin with respect to banks there are many advantages, since no third party permission is needed, in addition, the fact that bitcoin is totally Decentralized says a lot because it does not depend on any regulation made in its development by any government.

The advantage of the bank over Bitcoin is that it is accepted, legally has jurisdiction in any country in the world, has a "backing" especially given by governments. In countries with crisis, bitcoin is a completely safe refuge, especially if it is high inflation, with respect to this, both banks and bitcoin can coexist.

We know the positive aspects of investing in bitcoin, but we should not forget about the negative side associated with its volatility. Therefore, each person must keep part of their funds in the Bank to reduce risks. And this will allow you to quickly resolve your problems in the event of an unexpected financial situation.

Yeah, both are important! There's no better on those two, actually if you are going to compare it. Bank can exist and fit into society without bitcoin; however, the bitcoin cannot fit to the society without bank considering that it will be a disaster and the transaction will all be peer to peer. Using bitcoin only in the community will bring no tax to the government and will cause a financial crisis or a disaster to the economy, But if bank and bitcoin are being used the economy will be better and faster. Those two have their own role, and those two things should co-exist and shouldn't be compared.

[Artemis3]

I wouldn`t say that bitcoin is better than banks and i dont see a lot of people who is arguing about bitcoin in the world. Banks at the moment are safier to keep your money, but if you wish to gain profit than ofcourse it is better to use bitcoin and invest in it.

As long as people don't suddenly decide to withdraw their money... (Ie. world panic).

It only takes about 10%, worldwide of simultaneous withdraw to crash the system (and world economy). People are largely unaware of how fractional reserve banking works, else they would be very scared.

Banks safe? Heh, you should start reading about fractional reserve banking...

[Latviand]

If you don't take risk on investment, bitcoin would seem to be better than saving in banks. The market value of Bitcoin is moving from time to time, and everytime the market value goes up, profit will be earned for sure. But movement of the price includes downfall of its value which is the rsik from doing so. Unlike in banks that the value remains the same. It is quite a matter of preference of an individual. Investment is different from saving, in the first place.

They just ignore Bitcoin it is just because of uncomfortable situation which they don't want to understand and don't want to take the risk.
And we are glad enough to see its futuristic features that everyone had enjoy more than of fiat money can do. However, its volatility seems to be closing some minds into their ignorance and not knowing how Bitcoin and cryptocurrency make a better life. In fact, Banks seems to be helpless we are totally engaged in crypto and used bitcoin for our daily transactions.

We just cannot blame them from avoiding taking the risk especially if their aim is to not earn profit and rather, just to save their money. Volatility is the main thing, the market price tend to change a lot and such aspect is not preferred by all people.

[joeperry]

I agree. Bitcoin is a cryptocurrency that uses the peer-to-peer method to operate without an intermediary such as the banking system. Bitcoin is resistant of inflation, and is not governed by any government. Today, Bitcoin can't be controlled by the banking systems because they don't have an intermediary and are fully decentralized. This is the principal reason why it is better than your bank. Moreover, it doesn't have spending limits, it can be used to settle international finances and it can be accessed anytime and anywhere without the burden of paying high transaction fees.

[coinfinger]

It is hard to convince such people that's right because even I would confess that if I was knowing bitcoin so deep even I would laugh if even someone tried to tell me that bitcoin is superior than banks.

But because I have been part of the community and know how it work that gives me the courage to actually think and say that bitcoins do edge over banks for a number of reasons one of them being that you have to never worry about your bank itself since you have your bitcoins in the wallet of your choice,m you hold its private keys and you only know about it. Also money in cash has its own issues of being theft while you might have 100 BTC and get out clear from some thieves because they don't know about bitcoins

[7788bitcoin]

Bitcoin is a currency and online payment method.
Bank is only a payment method (most even not online)

We have online banking and bitcoin is an option and a different market all together and if you are planning to invest in bitcoin you need the banking sector to send your money, if not how we are able to purchase any crypto if not with the help of banking sector.

But in nearest future, I think, Banks will accept bitcoins, and provide different additional services regarding it. This industry is also very clever and could transform.

The fact is we do not need the banking sector to accept bitcoin as anyone can hold the coins without the help of a third party and that is the difference between the rest of the financial sector.

[royalfestus]

This argument will be addressed differently if we understand the better use of the two. At a point I was looking for the better option of use of fiat to stable coin in bear market but I noticed most experience investor save in fiat not stable coin. Bitcoin is the best asset available in the world at the moment, asset are not spent but stored until it appreciates then sell for profit, same is bitcoin. The profit can be best stored in fiat (in bank) for reliability, this fiat are traded to asset at when due in the bear.

[FGT]

Bitcoin is a currency and online payment method.
Bank is only a payment method (most even not online)

We have online banking and bitcoin is an option and a different market all together and if you are planning to invest in bitcoin you need the banking sector to send your money, if not how we are able to purchase any crypto if not with the help of banking sector.

But in nearest future, I think, Banks will accept bitcoins, and provide different additional services regarding it. This industry is also very clever and could transform.

The fact is we do not need the banking sector to accept bitcoin as anyone can hold the coins without the help of a third party and that is the difference between the rest of the financial sector.

Financial sector it is not only about transactions.
Deposits, credits, card issues - that's all about bank sector.

[Bagaji]

Because you married a new wife should not be an opportunity for you to insult the old wife brother, because what made you to insult the old wife will one day make you to insult the so called new wife. Is bank a currency? If your answer is no why then do you have to compare Bitcoin to bank.

[vintages]

 

Because you married a new wife should not be an opportunity for you to insult the old wife brother, because what made you to insult the old wife will one day make you to insult the so called new wife. Is bank a currency? If your answer is no why then do you have to compare Bitcoin to bank.

Hahaha, your illustration is quite funny but at the same time, I understand your point. The bank can't be set aside because of Bitcoin.

Also, OP, I believe many people really want to use Bitcoin but are not opportuned. It's either they live in regions where there is restriction of Bitcoin or can't afford to own some. We hope for the future where the relationship between bank and cryptocurrency will become a thing. Not the other way around.

[kentrolla]

They just ignore Bitcoin it is just because of uncomfortable situation which they don't want to understand and don't want to take the risk.
And we are glad enough to see its futuristic features that everyone had enjoy more than of fiat money can do. However, its volatility seems to be closing some minds into their ignorance and not knowing how Bitcoin and cryptocurrency make a better life. In fact, Banks seems to be helpless we are totally engaged in crypto and used bitcoin for our daily transactions.

Volatility is the only thing which is holding most of us back from adopting crypto but we need to accept the fact that volatility is the only thing which will be constant in crypto world and as far as I have seen most of us store bitcoin to sell it at the right moment as it's an asset for us and people reframing using bitcoin on daily transaction at least during the good market situation or bull run.

[gunungkembar]

Because you married a new wife should not be an opportunity for you to insult the old wife brother, because what made you to insult the old wife will one day make you to insult the so called new wife. Is bank a currency? If your answer is no why then do you have to compare Bitcoin to bank.

lol, Banks are equated with new wives and old wives, but in reality like that, blockchain technology is a very good technology for transactions because all transactions are neatly recorded in digital form and cannot be erased and can be seen by everyone transparently into more value for blockchain technology.

[Stedsm]

While you have mostly described Bitcoin's nature, I'd like to point out a fact here that on one hand, Banks which give us max 6% on a savings account while we can get max 8-10% (depending on the country you live in) for a fixed deposit amount, Bitcoin gives us the opportunity to trade it as an asset class of its own where we can invest and earn great returns (hypothetical - based on a case-by-case basis). Last year itself showed how BTC gradually increased in its value from its bottom at $3200 to around $14300, which totals it to ~4.5x return for which you'll need to wait your entire life if you want this type of return from a Bank with a specified decided amount.

[Bagaji]

They just ignore Bitcoin it is just because of uncomfortable situation which they don't want to understand and don't want to take the risk.
And we are glad enough to see its futuristic features that everyone had enjoy more than of fiat money can do. However, its volatility seems to be closing some minds into their ignorance and not knowing how Bitcoin and cryptocurrency make a better life. In fact, Banks seems to be helpless we are totally engaged in crypto and used bitcoin for our daily transactions.

Volatility is the only thing which is holding most of us back from adopting crypto but we need to accept the fact that volatility is the only thing which will be constant in crypto world and as far as I have seen most of us store bitcoin to sell it at the right moment as it's an asset for us and people reframing using bitcoin on daily transaction at least during the good market situation or bull run.

If volatility of Bitcoin has made you not accept Bitcoin then please can you send all the Bitcoin you have received from signature campaign you are currently a participant to my my wallet? Because I don't have problem with Bitcoin volatility at all dude. Lol

[FanatMonet]

Still, comparing bitcoin with banks is a little incorrect, at least for now, you can observe very strong drops and price increases, which is simply impossible in the case of any fiat currencies. And many people are simply afraid that Bitcoin could fall dramatically.

[2double0]

Volatility is the only thing which is holding most of us back from adopting crypto but we need to accept the fact that volatility is the only thing which will be constant in crypto world and as far as I have seen most of us store bitcoin to sell it at the right moment as it's an asset for us and people reframing using bitcoin on daily transaction at least during the good market situation or bull run.

Volatility is for the good of Bitcoins and crypto because Bitcoins are limited in number and it needs that volatility to reach to its real value some day and that's the fun of crypto that nobody knows what is the actual value of Bitcoins. So when we have that fun to play with, why should we put a lot of focus on it?

[Bagaji]

Volatility is the only thing which is holding most of us back from adopting crypto but we need to accept the fact that volatility is the only thing which will be constant in crypto world and as far as I have seen most of us store bitcoin to sell it at the right moment as it's an asset for us and people reframing using bitcoin on daily transaction at least during the good market situation or bull run.

Volatility is for the good of Bitcoins and crypto because Bitcoins are limited in number and it needs that volatility to reach to its real value some day and that's the fun of crypto that nobody knows what is the actual value of Bitcoins. So when we have that fun to play with, why should we put a lot of focus on it?

I do wonder when people are talking about Bitcoin real market value. Is the current market value of Bitcoin not it's  real value? If your answer is no then at what value of Bitcoin will you say is at it real value. Many people says this out of desperation for the unit of Bitcoin they are holding to double over night instead of them to accumulate more and use Bitcoin for what it is now than to wait for the so call " real value" that may not come to pass.

[joinfree]

No doubt about that! I barely save any huge amount of monies in the banks because they give only pennies on any investment plan they offer. One issue that actually got me off saving hugely in banks is the fact that some monies of some of their users are taken if any unforeseen circumstances occur and relatives are not able to contact the banks.

You also don't get to spend your money at your own will and freedom when you save at the banks but with Bitcoin it's the opposite!

[tvplus006]

No doubt about that! I barely save any huge amount of monies in the banks because they give only pennies on any investment plan they offer. One issue that actually got me off saving hugely in banks is the fact that some monies of some of their users are taken if any unforeseen circumstances occur and relatives are not able to contact the banks.

You also don't get to spend your money at your own will and freedom when you save at the banks but with Bitcoin it's the opposite!

Bitcoin really gives us financial freedom wherein we can manage our own expenses without the presence of a bank and this is totally opposite to the concept of fiat. But since the world in general isn't ready for an innovation, let us try to enjoy the two parties by taking their advantages with fiat as our main currency and bitcoin as an alternative one and as a good source of investment wherein most people in this community are enjoying it.

It is too early to say that bitcoin owners can do without the banking sector. We all have to make purchases and pay for various services every day. But today, the service industry is not ready to accept payments in bitcoins, and we are forced to use banking services for this.

[cytpoway121]

For me, i strongly believe that until bitcoin can virtually compete in the local markets with local currencies, only then will it be better than the bank.

I can say virtually that everyone converts their profits from trading btc to their bank accounts to run their day to day bills.

I saw some words regarding using bitcoin for large transfer across countries, thats right, but how many people actually do that on average ?

For now, bitcoin is thriving well, but not on the standards of being better than a bank. I will love to further learn more.

[Muhammad ayyan]

Sorry to say but i am not somehow  agree with you with saying that crypto is more good then banks. Because In my opinion and we all know that amount in banks are more safe then amount in crypto wallets.
Otherwise you are also right because there are a lot of benefits of it we can change our life with crypto.

[Chris Barth]

Sorry to say but i am not somehow  agree with you with saying that crypto is more good then banks. Because In my opinion and we all know that amount in banks are more safe then amount in crypto wallets.
Otherwise you are also right because there are a lot of benefits of it we can change our life with crypto.

Because In my opinion and we all know that amount in banks are more safe then amount in crypto wallets.

Are you sure about this statement you just made? Your asset in the bank is believed to be safe. However, it isn't under your control. It belongs to you but is managed by your bank. Unlike bitcoin which you don't have to contact anyone before sending or spending.

[Chris Barth]

Well, I appreciate everyone for bringing up their opinion. However, most comments are just influenced by the ones posted before them. You all should understand that everything has disadvantages and advantages. In my post on medium, I clearly stated the areas in which bitcoin is better than the bank. And I'll say it forever more that bitcoin is better than the bank (in the areas I stated). Don't misquote me. I didn't say that bitcoin is 100% better than the bank. If you see me say that, quote me. Bitcoin is better than the bank maybe not by 100% but over 60%. Thank you all once more. 

[pixie85]

Sorry to say but i am not somehow  agree with you with saying that crypto is more good then banks. Because In my opinion and we all know that amount in banks are more safe then amount in crypto wallets.
Otherwise you are also right because there are a lot of benefits of it we can change our life with crypto.

People who lost their money in the big EU bank bailout will say otherwise. Haven't you heard about this? If you had money in one of the banks on Cyprus you'd lose part of your money permanently to save the bank from completely going bankrupt. They chose to steal from clisnts so that they would remain in business.

Money on a Bircoin wallet are untouchable. The only way you can lose is if Bitcoin loses value but you don't have to worry about theft.

[Botnake]

Money on a Bitcoin wallet are untouchable. The only way you can lose is if Bitcoin loses value but you don't have to worry about theft.

But bank offers insurance to our deposits, that's their advantage and you'r money will not lose its value since you'll not be affected in volatility unlike bitcoin and other crypto assets. We can actually use both bank and bitcoin wallet and it should be defending on our purpose, for me if safekeeping bank is better but you need to ensure you'll not gonna save all your money as you might regret when it's affected by inflation.

[btc78]

talking about storing our money?yes Bitcoin is much better than Banks because the volatility in totality are our chance to Make our money more bigger than what banks can offers us.
giving 2-5% annual profit?when in crypto if we are lucky to buy in cheaper value?in just a year or 2 we can double,triple or much more our investments,same policy in bank that we need to wait right?so yes Bitcoin is much better than Banks.

thanks for the Link mate yeah it is worth sharing.

[Mumbeeptind1963]

talking about storing our money?yes Bitcoin is much better than Banks because the volatility in totality are our chance to Make our money more bigger than what banks can offers us.
giving 2-5% annual profit?when in crypto if we are lucky to buy in cheaper value?in just a year or 2 we can double,triple or much more our investments,same policy in bank that we need to wait right?so yes Bitcoin is much better than Banks.

thanks for the Link mate yeah it is worth sharing.

When it becomes storing I think its better to stored in bank while in Bitcoin is also good becuase of increasing value even sometimes is an unpredictable. But if you compare it the value bitcoin is much higher and can have bigger profit than bank. For me its better to have both because its good for our future,also there both have difference to used.

[mahilchii]

These days people Just need security when it comes to money but due to BTCs unpredictable nature they are scared of using it, but in reality most of them are not aware that Bitcoin will give you more profit than banks... Which I say it as lack of knowledge I am not saying to everyone but the majority are still unaware of Bitcoin.

Also even banks are good because they provide loan, credit card, insurance to people for their convenience where it can't say it's waste, to me both are well and good but still when it comes to profit Bitcoin is the one which I will prefer.

[abel1337]

talking about storing our money?yes Bitcoin is much better than Banks because the volatility in totality are our chance to Make our money more bigger than what banks can offers us.
giving 2-5% annual profit?when in crypto if we are lucky to buy in cheaper value?in just a year or 2 we can double,triple or much more our investments,same policy in bank that we need to wait right?so yes Bitcoin is much better than Banks.

thanks for the Link mate yeah it is worth sharing.

When it becomes storing I think its better to stored in bank while in Bitcoin is also good becuase of increasing value even sometimes is an unpredictable. But if you compare it the value bitcoin is much higher and can have bigger profit than bank. For me its better to have both because its good for our future,also there both have difference to used.

Yeah right, If your mind wants to keep the value of your money stable for a time being it's better to store it into banks, But if your mind tells you that you need to get an investment, Keep the money in your bitcoin wallet and start focusing on the price chart of bitcoin because the value of your money can't stay stable after a day or two. If you want profit, Put it in your bitcoin wallet and if you want stable value then put it into banks. It's not bad having a bank account these days because they are helpful anyway. It is depending on the needs that your mind tells you.

[lepbagong]

I can't say that bitcoin is not good because we have to see the fact that bitcoin is very good but when compared to banks, of course there will be very striking differences in terms of security and convenience available.
- the issue of bitcoin security at this time is also good but when the one who holds it is wrong it will immediately disappear from our pockets not with the bank because the transaction can be checked and can be accounted for.
- the ease of bitcoin is obviously very good but it is still limited in certain places and countries that are ready and a good internet network, not with banks all countries can implement the convenience to take and transactions.

realistically banks are still better for anything compared to bitcoin.

[shoreno]

I can't say that bitcoin is not good because we have to see the fact that bitcoin is very good

lol  .why cant you just say directly that bitcoin is good ? you dont have/need to tire yourself and tire the readers  . 

but when compared to banks, of course there will be very striking differences in terms of security and convenience available.

true. both have advantage and disadvantage

- the issue of bitcoin security at this time is also good but when the one who holds it is wrong it will immediately disappear from our pockets not with the bank because the transaction can be checked and can be accounted for.

in banks . they can checked it if you complain but do they refund the money stolen ? idk with that but btc is irreversible too so no point of return once the transaction has been procesed  .
 

- the ease of bitcoin is obviously very good but it is still limited in certain places and countries that are ready and a good internet network, not with banks all countries can implement the convenience to take and transactions.

huh ? but banks are plain legal anywhere , but bitcoins nah  .

[Twentyonepaylots]

Sorry to say but i am not somehow  agree with you with saying that crypto is more good then banks. Because In my opinion and we all know that amount in banks are more safe then amount in crypto wallets.
Otherwise you are also right because there are a lot of benefits of it we can change our life with crypto.

Even on the security department bitcoin does it better than the banks. Most banks only have time locks to protect the money of their patrons, and yes, that is still unsecured. whereas in bitcoin's perspective, the security of your coins is backed up by an encrypted password/passphrase/code that only you could know. So unless you gave your password online or have forgotten it. You are safe from everyone who's trying to get a hold of your coins. So it's less of bitcoin's fault that users tend to forget their wallet codes and more of the user's fault hat they lost theirs. We all gotta pay for something to be secure. On bitcoin's end you don't even need to. So I don't see why you would choose banks over bitcoin in the security perspective.

This is just my opinion however, this is based on my experiences from dealing with different banks and with different crypto wallets.

[Google+]

For me both are good because I feel bank is very different option for me instead of Bitcoin as this one is giving me some good and extra ordinary things which was not possible without bitcoin and bank is giving good services which I need for many other things which are not possible right now through bitcoin so both are good and giving better services but last thing now if some one ask me about this bitcoin my reply is my blood is bitcoin.

well indeed banks are still used by many people and banks already existed before bitcoin, although like that the blockchain technology owned by bitcoin is good but up to now bitcoin still cannot be used for any purchases in all countries meaning there are still those who have not accepted bitcoin as currency or place to save money so it doesn't hurt if the bank is still often used by many people who don't understand blockchain and bitcoin.

[vintages]

talking about storing our money?yes Bitcoin is much better than Banks because the volatility in totality are our chance to Make our money more bigger than what banks can offers us.
giving 2-5% annual profit?when in crypto if we are lucky to buy in cheaper value?in just a year or 2 we can double,triple or much more our investments,same policy in bank that we need to wait right?so yes Bitcoin is much better than Banks.

thanks for the Link mate yeah it is worth sharing.

We are forgetting something here. The creation of Bitcoin was not to replace bank nor to buy and hold it for increased profit. It was to bridge the less autonomy the bank gives. At least those who held Bitcoin when it first emerge stored Bitcoin for this purpose. It however happens to increase as you hold.
I'm not saying that Bitcoin is much better than the bank or the the other way round. I think each has their own benefits that when merged together may bring out the best in them.
Also, let's try to use and see Bitcoin  for it true purpose as it is gradually shifting from it.

[KnightElite]

talking about storing our money?yes Bitcoin is much better than Banks because the volatility in totality are our chance to Make our money more bigger than what banks can offers us.
giving 2-5% annual profit?when in crypto if we are lucky to buy in cheaper value?in just a year or 2 we can double,triple or much more our investments,same policy in bank that we need to wait right?so yes Bitcoin is much better than Banks.

thanks for the Link mate yeah it is worth sharing.

We are forgetting something here. The creation of Bitcoin was not to replace bank nor to buy and hold it for increased profit. It was to bridge the less autonomy the bank gives. At least those who held Bitcoin when it first emerge stored Bitcoin for this purpose. It however happens to increase as you hold.
I'm not saying that Bitcoin is much better than the bank or the the other way round. I think each has their own benefits that when merged together may bring out the best in them.
Also, let's try to use and see Bitcoin  for it true purpose as it is gradually shifting from it.

There is a misconception I think, people seeing bitcoin as investment and it is the reason why they keep saying bitcoin is better than banks. Banks have different role in our economy where i serves as financial intermediaries while bitcoin is a currency where it can use to improve the poor payment system that we have. I think the OP saying that it is better to place our money in bitcoins than banks because of the deflation where it can grow faster by doing it but we should always be aware on the risks.

[Tasrifhossain]

In my opinion, if Bitcoin is compared to fiat currency, then I think Bitcoin is the best and it also has the freedom to go through it with one another no matter what the identity of the person is, and also itsIt maintains its independence through it and it is possible to transact any amount of money through it anywhere, but what I think as the biggest obstacle in this case is that Bitcoin is in such high volume at the present timeIt could not be discussed or transmitted to the people because of the fact that it has not yet fully begun to transform what we have, and is still completely dependent on human beings, but only a small number of themPeople only know about cryptocurrency and that is why I think it will take many years for it to be fully circulated worldwide

[fiulpro]

I do think that both Bitcoins and Banks have their Pros and Cons .
Bitcoins is an amazing investment but at the same time you cannot just eleminate the risks that it comes with , the whole savings can go down in a matter of seconds and you know even though you are very careful with the investment , it can change overnight when you are sleeping.
There are always risks , but the profit is what makes people stay. 
Banks on the other hand are like stable slow snails , they won't reach that far away but you can count into them to be there. But they are too much controlled by the government.

[imstillthebest]

I do think that both Bitcoins and Banks have their Pros and Cons .

why  ? bitcoin is not perfect and banks isnt too  . thats why they have thier pros and cons  .

Bitcoins is an amazing investment but at the same time you cannot just eleminate the risks that it comes with , the whole savings can go down in a matter of seconds and you know even though you are very careful with the investment , it can change overnight when you are sleeping.
There are always risks , but the profit is what makes people stay.  
Banks on the other hand are like stable slow snails , they won't reach that far away but you can count into them to be there. But they are too much controlled by the government.

yep thats thier biggest known drawbacks  .  but i dont get the idea of bitcoin for being a bank where i think btc is just another kind of currency only . an alternative to currency if we want something innovative .  but banks are just plain banks . they arent a currency , whatsoever    .  the purpose only of bank is we keep our money for future use  .  while btc can be an investment to earn a profit depending on how your good at  investing  .

[LogitechMouse]

I do think that both Bitcoins and Banks have their Pros and Cons .

Yes this is true. Both of them have pros and cons. Pros of Bitcoin is: Higher interest rate compare to banks, you can hold it yourself and doesn't need a third party like banks and more. Cons of Bitcoin: Riskiest investment (disregard gambling) for me because of its volatility, prone to hacks if you don't know how to secure it.
In conclusion, since I'm a crypto lover I'd say that Bitcoin is better than the banks around us. Its just the majority of the people right now doesn't know Bitcoin or crypto and if they know it, they choose not to invest on it because of the scams that are happening worldwide. Bitcoin for me is better than the banks for its higher interest rate even though it is riskier. High risk = high reward .

[redsun114]

I save money in Bitcoin and the amount I have in my Bitcoin wallet is very less compared to what is in my bank accounts, but that doesn’t mean that the amount is small. Since I’m aware that I can lose that money at any time, I just fund the wallet with what I can afford to lose at any day. And if I’m lucky and the price goes up then I would make profit and that’s it. Banks has their own ways of being better guess. I used to love Bitcoin a lot back then it was still new and I stuffed a lot of money in it, that was when people has true love for it, but most of them now just want to make money and they are only asking about bull run and nothing else.

So, I can’t be risking my hard earned money because every money I have in my account I worked really hard for it hence I’m not going throw it off like that because I like Bitcoin.

[Alaric05]

I'm new to blockchain technology and as far as I learned about Bitcoin it is one of the best ways to invest and earn easy and quick bucks, no doubt that CryptoCurrencies has begun the revolutionary change in global economy  but slow and steady wins the race and that's why when comes to risk free and secure investment banks are the fuels through which engines of economy can always depend on.
If you have proper knowledge of Bitcoin then no doubt crypto world will give you return beyond your imagination.

[Dayx]

i don't know man, bitcoin has it's own benefits but bank in some countries still has better benefits than bitcoin, for example in Indonesia all the bank is connected to each other now, so the fee is way more cheaper than bitcoin. i know that you can't get money from just put your money to the bank like bitcoin, but there's still a risk free investment with banks, so i don't think that bitcoin is better than banks right now..

[Chris Barth]

i don't know man, bitcoin has it's own benefits but bank in some countries still has better benefits than bitcoin, for example in Indonesia all the bank is connected to each other now, so the fee is way more cheaper than bitcoin. i know that you can't get money from just put your money to the bank like bitcoin, but there's still a risk free investment with banks, so i don't think that bitcoin is better than banks right now..

Cheaper? 🤔 Tell me more. Cause last I checked, it'll cost you time and money to send money to anyone outside the country. And you will have to be sending huge payments. But with bitcoin, the transaction fee to send to someone in my country is the same to send to you too. Besides, I can send as small as 1$ to you. I don't see the bank agreeing to send 1$.

[Chris Barth]

I'm new to blockchain technology and as far as I learned about Bitcoin it is one of the best ways to invest and earn easy and quick bucks, no doubt that CryptoCurrencies has begun the revolutionary change in global economy  but slow and steady wins the race and that's why when comes to risk free and secure investment banks are the fuels through which engines of economy can always depend on.
If you have proper knowledge of Bitcoin then no doubt crypto world will give you return beyond your imagination.

I'm new to blockchain technology

Welcome! I feel pleased whenever I see a new person in this crypto space. I hope you don't mind my asking. How did you get to know about bitcoin, the blockchain technology, and the bitcointalk platform?

[Assface16678]

i don't know man, bitcoin has it's own benefits but bank in some countries still has better benefits than bitcoin, for example in Indonesia all the bank is connected to each other now, so the fee is way more cheaper than bitcoin. i know that you can't get money from just put your money to the bank like bitcoin, but there's still a risk free investment with banks, so i don't think that bitcoin is better than banks right now..

We all know that bitcoin today is very popular and many people make a lot of investment in this coin because there is a potential to earn more profit in the next coming days, months or years. After all, it is for long term investment. Today there are a lot of people making more money with the use of trading that you will predict the market price of the bitcoin, gambling that supports the cryptocurrency or the bitcoin for payment to play or to wage and Lastly the investment that you need to wait for a long time market price. One of the reasons why people make bitcoin as payment because it has a less transaction fee than the fiat currency. Even there are a lot of benefits of using bitcoin many people are still focusing to the fiat currency because a country must release a currency and contribute to the world trade transaction also we cannot push other people to work in bitcoin because they are not knowledgeable enough to use it that's why the people will use fiat currency for bank than crypto.

[abel1337]

i don't know man, bitcoin has it's own benefits but bank in some countries still has better benefits than bitcoin, for example in Indonesia all the bank is connected to each other now, so the fee is way more cheaper than bitcoin. i know that you can't get money from just put your money to the bank like bitcoin, but there's still a risk free investment with banks, so i don't think that bitcoin is better than banks right now..

I think it is depending on the place you live and on how much incentives you can get from it. Bitcoin and banks have their own forte and you can sort out the good things about it and the things that you don't like from it so that you can choose from it. I always think that bitcoin is a better choice for me because of the way that banks rule over our country.  Also, I don't think that banks are risk-free in our country since I got a huge problem with my money that is stored in the bank way back when I still use bank more than bitcoin.

[BuNga_cute]

I strongly agree that bitcoin is better than a bank. Besides, I like bitcoin because it keeps my privacy, and it's very easy
transactions with bitcoin. The most important thing is that bitcoin can make a profit. Unlike a bank whose technology is too
old,it is not suitable to use right now. And the most terrible is the product of the bank, there is nothing as profitable as
bitcoin.Many governments are now corrupt and want to enrich themselves, in my opinion that's the main reason they
refused bitcoin until now.

[Lecam]

I strongly agree that bitcoin is better than a bank. Besides, I like bitcoin because it keeps my privacy, and it's very easy
transactions with bitcoin. The most important thing is that bitcoin can make a profit. Unlike a bank whose technology is too
old,it is not suitable to use right now. And the most terrible is the product of the bank, there is nothing as profitable as
bitcoin.Many governments are now corrupt and want to enrich themselves, in my opinion that's the main reason they
refused bitcoin until now.

Maybe bitcoin is better than bank but bitcoin once drop the price the value of your money will gonna be drop also. I think it's better to keep also money in a bank I know have only small interest once you deposited your money but once dollar drop your money still there and have no decrease.

[BtcATMs]

At least in our case this is true. We have one corporate bank (HK) that took off with more than €20K of our money after 3 years of doing business with them. So we gave up on that bank and opened another account (UK) last November, now last week they shut down their operations and froze all customer accounts due to "their" regulatory problems (why is "their" problem now "our" problem!?!). Banks are a pain in the ass. They require us to file all kinds of paperwork and documentation, they use our money to make money, provide horrendous customer service, then charge us fees for all of this  .

[crzy]

Yes, Bitcoin is better than Bank in many ways, like only you own the money, no nominee, nor extra fee, no rules, rather everything in your under control! But we need banks too, Bitcoin won't replace the Bank, which is just impossible.

There’s a lot of pros and cons with bitcoin and its not perfect yet to fully replace banks which I also believe as an impossible things. Banks are here for a good purpose they are just greedy and pro business. We are still fortunate that bitcoin comes into our lives and changes the way we transact, I happy that bitcoin is still decentralized and no government can control this one.

[dongosquad]

~
I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

You have started a good step, by providing education through your article. That will provide enough information about the misunderstanding of ordinary people who consider cryptocurrency especially bitcoin dangerous. If it is shared through social media it will certainly have a wider impact. Lay people tend to be influenced by news on TV and newspapers, which are sometimes too hyperbole and generalized, for example, if there are cases of fraud, scams, etc. even though it's a different niche. In fact, there are still many people who get success by utilizing cryptocurrency in a right and safe way.

[Yamifoud]

Yes, Bitcoin is better than Bank in many ways, like only you own the money, no nominee, nor extra fee, no rules, rather everything in your under control! But we need banks too, Bitcoin won't replace the Bank, which is just impossible.

There’s a lot of pros and cons with bitcoin and its not perfect yet to fully replace banks which I also believe as an impossible things. Banks are here for a good purpose they are just greedy and pro business. We are still fortunate that bitcoin comes into our lives and changes the way we transact, I happy that bitcoin is still decentralized and no government can control this one.

Negative and positive is a common thing to happen and it was accepted by then especially into this kind of market and knowing the fact that many we're still in the doubts about Bitcoin's capability.

But also we have to understand that Bitcoin isn't competing with banks and not the intent to do so. It was just a currency that we can use for buying stuff and bills payment or any online transaction. And the only thing that I could see of its negative effect on the banks is that people haven't used banks to store money but rather to invest in Bitcoin and keep it in digital form.

[Kelvinid]

With Bitcoin, I can save my money with investment intentions  . Unlike a bank that Kadana locks my money for a certain time, I can withdraw my money whenever I want if I save my money in Bitcoin.
Buy Bitcoin, Make Your Own Bank.

Youre right about bitcoin act of liberty and banks controlled level because bitcoin is decentralized currency while banks is a centralized institution which the reason why the some government and institutions choose not to support bitcoin. But if we check it every well i dont think we should compare the two (bitcoin and banks) together.

Bringing the strong legacy of Bitcoin about being a decentralized market hold some country to decline such given opportunity to the people. Some leaders don't let this technology to grow and don't give some room to develop it simply because they can't benefit themselves for this.

And probably they could suggest and tell everyone that using banks to store their money is safer than of Bitcoin. But if we are an open-minded person we can tell that acquiring this new technology will simply help us to minimize stress and even more productive all da.

[mohdk52]

Bitcoin is much more honest with us than any bank.

[Meowth05]

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

bitcoin is our complete finance without a central authority that can decide with our finances, this is financial freedom with several advantages compared to fiat currencies, one of them with bitcoin we can make transactions whenever we want, there are no specific hours or days, unlike with fiat currency, we can only do transactions when the bank is open.

Pretty true indeed but we cannot remove the fact that there are still some advantages of having a bank just for an example: Bitcoin can be access through online platform right? then it would be a problem for few places who don't have full access on internet. Basically what I am pointing out is that we were not fully ready yet hence, I would suggest that don't compare Banks into Bitcoin because they have their own advantages and disadvantage, much better if we will practise to use both of them and have an efficient way of transaction.

[Denongels]

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

bitcoin is our complete finance without a central authority that can decide with our finances, this is financial freedom with several advantages compared to fiat currencies, one of them with bitcoin we can make transactions whenever we want, there are no specific hours or days, unlike with fiat currency, we can only do transactions when the bank is open.

One of the advantages of bitcoin compared to banks is that we can trade anywhere while there is an internet connection without having to be hindered by hours like banks and banks can only be valid in one country.

By adding security to users as anonymizer, adding bitcoin becomes one of the finances that is not easy to detect who is the owner, without having to follow the rules to register bitcoin as a new breakthrough in financial concepts in the present and future.

[WilderX]

Many people are just ignorant about bitcoin and I believe that writing an article (as a writer I am) is worth it for bitcoin. Therefore, I decided to write this article to help elaborate (https://link.medium.com/X934BlPLW3).
Please endeavour to READ! and share it too.
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

I agree with OP and the real Bitcoin is BSV.

1. The real Bitcoin that is Bitcoin Satoshi Vision is already 1500 times cheaper in tx's
2. Can scale to VISA level transactions levels and beyond
3. BSV blockchain usage has already SUPERCEEDED BTC. (see below graphs).
4. Fees in BSV network are only going down as usage grows!!! (see below graphs).
5. We have Satoshi. Craigh Wrigth. Nuff said.

[Artemis3]

Bitcoin is better than banks I would agree but not in all aspects. Bitcoin is good for investment yes but work as a bank where you save money bitcoin is a no no. Bank and  bitcoin should coexist because we still needs bank for our fiats which we withdrawn from bitcoin.
Banks are more secure than bitcoin we can trust banks more for sure for storing compared to bitcoin because we know anything may happen in the internet in no time.

Indeed the bank can go bankrupt after a bankrun, while such thing would never happen to bitcoin. Have you ever seen a bankrun? Maybe not in your lifetime if you live in one of those "nice" countries, i have seen it three times in my life here already, and most people lost ALL their money, all their savings gone "poof" Just like that (Southpark meme style: "Aaaaand its gone". It even happened to my family "twice" (the idiots) and now we live in poverty.

Keep trusting banks, and study what fractional reserve means, you are in for a big shock. At least Ponzi was caught...

[aladin1919]

Bitcoin has a self regulating blockchain and also very independent  from the modern financial system like banks
Bitcoin has no regulation guidelines, there are no limits on withdrawals and spending limits with generally lower transactions fees unlike the banking systems  a bitcoin transaction costs no more than 1% of its value. Compare that to 2% to 3% for most other digital payments
Blockchain in general and bitcoin specefically has no mediator it is completely decentralized so it cannot be controled by any government
Bitcoin also comes with an intense privacy protections and absolete anonymity...
But with all these advantages we have to mention that bitcoin has its drawbacks
For example there are security issues, risk of theft and fraud in addition to its volatitility which presents a huge risk.  

[Slow death]

I agree with OP and the real Bitcoin is BSV.

BSV is an altcoin that was created by people with obscure purposes and who did not succeed in the plan they will orchestrate because fortunately most people realized that BSV is just another useless altcoin


I don't know what the banks in other countries are like, but in my country when I think about going to the bank I get tired before I even get to the bank, because bank employees take hours to attend to people. If a person is going to deposit money in my country's bank, it will take 2 hours and if that person is going to withdraw money by check, it may take more than 3 hours in the bank. But, we need the banks. That's why I'm in favor of using both

[Swordsoffreedom]

Bitcoin has a self regulating blockchain and also very independent  from the modern financial system like banks
Bitcoin has no regulation guidelines, there are no limits on withdrawals and spending limits with generally lower transactions fees unlike the banking systems  a bitcoin transaction costs no more than 1% of its value. Compare that to 2% to 3% for most other digital payments
Blockchain in general and bitcoin specefically has no mediator it is completely decentralized so it cannot be controled by any government
Bitcoin also comes with an intense privacy protections and absolete anonymity...
But with all these advantages we have to mention that bitcoin has its drawbacks
For example there are security issues, risk of theft and fraud in addition to its volatitility which presents a huge risk.  

Every transaction method has its own good and bad aspects. But I personally think that bitcoin might be a better version of a bank though it has its own drawback. The most prominent drawback would be the volatility of its price. So, to make the best out of it, people have to be cautious and aware of who they are making transactions with and to make investments based on its price. Although at the end of the day, having a bank to have your back is always relieving.
Bitcoin has just started its journey and is in its preliminary stages, people are needed to be made aware of this system to spread the knowledge of bitcoin and make the best use out of it. Though not many countries have legalized bitcoins, but on the other hand, many countries have started to recognize its worth and are setting up bitcoin ATM's and are inspiring people to do their transactions through bitcoins; which is a great news for the bitcoin users out there.

[Docnaster]

Every service has its own benefits and drawbacks, in the case on cryptocurrencies the benefits are obvious where decentralisation allows greater flexibility as well as anonymity, and of course, control. The drawbacks are quite simple really, no security regulations outside of the blockchain technology.

Institutional banks on the other hand, are very regulatory and some could describe them as quite secure but the openness, transparency and control over the account go out the window, as in this instance these are only in the power of the banks.

So its pretty obvious that crypto is the way forward, and the reason for this is that it's much more efficient, cheaper in the long run and much more easily automated.

[taufik0911]

Bitcoin is better than banks I would agree but not in all aspects. Bitcoin is good for investment yes but work as a bank where you save money bitcoin is a no no. Bank and  bitcoin should coexist because we still needs bank for our fiats which we withdrawn from bitcoin.
Banks are more secure than bitcoin we can trust banks more for sure for storing compared to bitcoin because we know anything may happen in the internet in no time.

I just want to add that indeed at this time yes at this time we still have to use banks to make transactions to exchangers but now there are many projects that will solve this problem so that we can use bitcoin easily
if I think as a Muslim, I strongly support bitcoin or cryptocurrency to replace the bank because there are many losses if we continue to follow the bank where we must continue to pay this and that fee for the bank even we can lose our money if the bank collapses

[valuater]

Bitcoin is better than banks I would agree but not in all aspects. Bitcoin is good for investment yes but work as a bank where you save money bitcoin is a no no. Bank and  bitcoin should coexist because we still needs bank for our fiats which we withdrawn from bitcoin.
Banks are more secure than bitcoin we can trust banks more for sure for storing compared to bitcoin because we know anything may happen in the internet in no time.

There will always be advantages and disadvantages that occur both for bitcoin and banks, from the side of the bank itself we as a rule-abiding society will also definitely need a bank as a value for investment and exchange in the country so that also cannot be separated from our lives.

In terms of its own advantages, bitcoin has advantages that are not in the bank, one of which is an anonymous anonymous user, which in the bank itself we cannot do this without giving our identities.

I think if the two of them can work together, it will definitely be a good thing and more efficient compared to the current financial situation, maybe there will be regulations imposed by the government if it can really happen and the times can change from the world of bank economics to the world of cryptocurrency later.

[Andrews193]

It is not that many people don't want to use bitcoin but we should understand and realize change is always faced with challenges and resistance until a certain time where it gets adopted or accepted but one big challenge that it could face with bank is the internet connection to transaction which many people don't have too. Bitcoin is decentralized which means an individual should be responsible for their business but the internet would defeat this where people can't access it without a third party.

Bitcoin is somehow better than our banks if and only if people knows how to use it properly. Cryptocurrency is a very risky investment if you don't have proper knowledge about it. In just snap, you might lose a part of your money because of the wrong usage of it. You must hold it until the price of it became higher for you to be able to earn a good amount of profit.

Well, maybe when we look at interest rates in bitcoin higher than banks but some personal opinions cannot disrupt the minds of many people around the world, the general idea is that banks will still be safer services because they have very enthusiastic and responsible support in their operations, bitcoin may be better but there is no organization behind management, unexpected risk may come. Comparing in many ways, the value of each platform will be useful to the needs of each individual, nothing is better than something and vice versa

[imstillthebest]

It is not that many people don't want to use bitcoin but we should understand and realize change is always faced with challenges and resistance until a certain time where it gets adopted or accepted but one big challenge that it could face with bank is the internet connection to transaction which many people don't have too. Bitcoin is decentralized which means an individual should be responsible for their business but the internet would defeat this where people can't access it without a third party.

Bitcoin is somehow better than our banks if and only if people knows how to use it properly. Cryptocurrency is a very risky investment if you don't have proper knowledge about it. In just snap, you might lose a part of your money because of the wrong usage of it. You must hold it until the price of it became higher for you to be able to earn a good amount of profit.

Well, maybe when we look at interest rates in bitcoin higher than banks but some personal opinions cannot disrupt the minds of many people around the world, the general idea is that banks will still be safer services because they have very enthusiastic and responsible support in their operations, bitcoin may be better but there is no organization behind management, unexpected risk may come. Comparing in many ways, the value of each platform will be useful to the needs of each individual, nothing is better than something and vice versa

yup . profit is the reason why people says btc is better than a bank but if not because of profit i dont believe they will compare it to bank  .

 you said btc is better but there is no organization behind it  ? so its risky  ?  but i think its more riskier if there is some people behind btc or not only btc but to also on banks as well because those people can run away your money  .  this is why i wont still put my trust on banks but i dont choose bitcoin iether as an alternative to banks   .

[Utoy101]

There are lots of people out there who prefer to see bitcoin as just a speculative digital currency that can be used to take off profit due to it's highly volatile nature. And to be honest,  this volatile nature of bitcoin is what's preventing it from the mass adoption we've been longing for ever since,  It's the edge the traditional fiat is still having over cryptocurrency.

Yes,  cryptocurrency gives decentralization and the actual power to be your own financial assets manager to the people however it haven't really beat the peace of mind that comes with not worrying about if the money you have somewhere isnt going to reduce im vallue and worth over time. Your write-up is really insightful and will go a long way in preaching the true vision of bitcoin.

Keep the good work up

[tbterryboy]

I agree with OP and the real Bitcoin is BSV.

BSV is an altcoin that was created by people with obscure purposes and who did not succeed in the plan they will orchestrate because fortunately most people realized that BSV is just another useless altcoin


I don't know what the banks in other countries are like, but in my country when I think about going to the bank I get tired before I even get to the bank, because bank employees take hours to attend to people. If a person is going to deposit money in my country's bank, it will take 2 hours and if that person is going to withdraw money by check, it may take more than 3 hours in the bank. But, we need the banks. That's why I'm in favor of using both

You’re right about BSV, I don’t know why a lot of people can’t even see this. I know some people might think that it is a really good cryptocurrency because the price has been going up lately, but whatever, at the end it’s still going to crash.

As for banking, that’s how it is in my country, you will likely see a long queue when you go to the bank, but it’s not something that happens every time. Though there are mobile banking apps these days and most of the things you can do them using your bank app, like transfer, updating some information about you and the rest. So you don’t really have to be going to the bank all the time if you have your bank app, except the ATM.

[darewaller]

Many people are just ignorant about bitcoin and I believe that writing an article (as a writer I am) is worth it for bitcoin. Therefore, I decided to write this article to help elaborate (https://link.medium.com/X934BlPLW3).
Please endeavour to READ! and share it too.
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

You said there are those who don’t even know what volatility is, do you mean those that don’t care about volatility?
For someone not to care about volatility, they must be someone that is very rich and has more than enough so they wouldn’t worry whether they are losing their money or not.

Anyone who invests in bitcoin will be worried about volatility, especially if you’re the type that uses your bitcoin a lot of times to make purchase online. Imagine you have a certain amount and you plan to buy something and then tomorrow the price drops and you’re unable to purchase what you wanted to just because the money decreased?

So, it’s not everyone that can do that. That’s why you should be risking what you can afford. Bitcoin is cool because of the freedom it gives. There are lots of digital banking platforms these days and I just love them because of how easy they are. Facebook Libra would be a good cryptocurrency except that it wouldn’t let users be anonymous just like bitcoin, I know Facebook very well, they can’t do without your info. Lol.

[retnoanjani]

__
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

If they are afraid of volatility then just leave it, no need to deal with bitcoin. Better to choose another safer way. The logic is that simple. But do not regret losing the opportunity to take advantage of opportunities to get a lot of profit. Every decision has a risk. Big profits are accompanied by big risks.
So it's better to read and learn bitcoin and another cryptocurrency better. Good article, good job.

[giltc148]

I’ve read your article and I must say that it is pretty interesting. But I’d like to see more links to original sources there. For example, I’d like to see a source of data about Sberbank’s breach. It is really a must to add proof if you are writing about things like that and mentioning numbers (you said that 60 million clients’ private information was leaked).

[hulla]

People fear it, because it's volatile and unpredictable but traders and investors sees it as potential money or profit. People that has no knowledge with basic economics or with cryptocurrency, tends to keep distance from it. Not knowing its capabilities as a distributed consensus which provide anonymity.

Absolutely and this is the reason why Bitcoin is not better for everyone than a bank! Bitcoin is volatile, anytime it can dump high! So, normal people won't trust Bitcoin for holding as life savings what they do in banks! Once I tried to make people convert their money into Bitcoin instead of banks, but that experience and result were horrible. Bitcoin is better for us who does trade or hold or who knows the crypto, where most of the people still avoid cryptocurrency!

Bitcoin is indeed not better for everyone because the people in the rural area where there's no internet cant make use of bitcoin. But, we shouldn't be comparing the bank and bitcoin because they totally belong to a different category.
Bitcoin is a digital currency that is used as a medium of exchange and value.
Bank is a centralized financial institution licensed by the government mainly for depositing and offering lending activities. Besides, the banks should be compare with crypto exchange site not crypto currency (Bitcoin).

[Alaric05]

People fear it, because it's volatile and unpredictable but traders and investors sees it as potential money or profit. People that has no knowledge with basic economics or with cryptocurrency, tends to keep distance from it. Not knowing its capabilities as a distributed consensus which provide anonymity.

Absolutely and this is the reason why Bitcoin is not better for everyone than a bank! Bitcoin is volatile, anytime it can dump high! So, normal people won't trust Bitcoin for holding as life savings what they do in banks! Once I tried to make people convert their money into Bitcoin instead of banks, but that experience and result were horrible. Bitcoin is better for us who does trade or hold or who knows the crypto, where most of the people still avoid cryptocurrency!

Bitcoin is indeed not better for everyone because the people in the rural area where there's no internet cant make use of bitcoin. But, we shouldn't be comparing the bank and bitcoin because they totally belong to a different category.
Bitcoin is a digital currency that is used as a medium of exchange and value.
Bank is a centralized financial institution licensed by the government mainly for depositing and offering lending activities. Besides, the banks should be compare with crypto exchange site not crypto currency (Bitcoin).

These are the most valid points you raised totally agreed. People residing in rural areas as well as some in urban also still do not have proper knowledge of basic banking facilities and when comes to digital banking like Internet banking and mobile banking  they fear that banking personnel may steal their money,  so the environment they are living in it is very hard to convince them to use CryptoCurrencies and bitcoin.

[verita1]

Bitcoin and crypto are better than a bank for me because my local currency is suffering terrible inflation. Crypto allows me to make a profit, save and make fiat only part of my purchases and expenses of everyday life. Although the system to carry out the transactions is not the most suitable I am adapted and waiting for a better system to manage the finances.

Bitcoin is better than a bank precisely because of its nature because you can play based on price. It is not easy to educate people about bitcoin in the first place because they are not interested in putting their money at risk. I made my first attempt with three merchant people I know and the impression of their faces was fear of the unknown.

[XCANA]

Believe me that "Bitcoin is better than our Banks". We all know how Banks have been in control of every fiats in their possession, this made me believe in Bitcoin and not to Banks. Bitcoin give us equal right to hold our funds to ourselves without anybody be in control of our funds, rather Banks do the opposite. Although, many are still ignorant of this and still choose to operate Banks. This doesn't mean they are happy with the process but, not knowing how Bitcoin is operated keep them to what they know.

[conected]

People fear it, because it's volatile and unpredictable but traders and investors sees it as potential money or profit. People that has no knowledge with basic economics or with cryptocurrency, tends to keep distance from it. Not knowing its capabilities as a distributed consensus which provide anonymity.

Absolutely and this is the reason why Bitcoin is not better for everyone than a bank! Bitcoin is volatile, anytime it can dump high! So, normal people won't trust Bitcoin for holding as life savings what they do in banks! Once I tried to make people convert their money into Bitcoin instead of banks, but that experience and result were horrible. Bitcoin is better for us who does trade or hold or who knows the crypto, where most of the people still avoid cryptocurrency!

Bitcoin is indeed not better for everyone because the people in the rural area where there's no internet cant make use of bitcoin. But, we shouldn't be comparing the bank and bitcoin because they totally belong to a different category.
Bitcoin is a digital currency that is used as a medium of exchange and value.
Bank is a centralized financial institution licensed by the government mainly for depositing and offering lending activities. Besides, the banks should be compare with crypto exchange site not crypto currency (Bitcoin).

- Banks and bitcoin cannot be compared fairly, similar features and providing the best benefits to users is something I don't deny but as you said, many people only compare the extra features of bitcoin with the main features of the bank and vice versa while comparing the main feature of bitcoin and banking, it is two completely different markets. Better would be an incorrect thing but weaker, it is also completely incorrect, the answer to this story is what is serving our needs better, it will be the right choice for us.

[darkfire9881]

Bitclix.io is the best way to make btc fast and simple 

[elenag1142]

All things considered, Bitcoin gives us more opportunity than conventional fiat monetary standards and utilizing it we aren't relying upon banks.

In any case, we despite everything can't depend just on Bitcoin. Individuals despite everything gain their take advantage customary monetary forms and Bitcoin isn't completely acknowledged, managed or brought formaly into our social orders, economy and money related frameworks.

Like you've said numerous individuals despite everything don't think tons about Bitcoin, don't open up to it, don't approach it or simply not intrigued to utilize it.

[Emitdama]

I think they both have their own ways of being better than the other. Bitcoin is really good in the sense that it gives us complete freedom over our money and transactions we make.

There are huge transactions that you can make with Bitcoin, there isn’t any limit as far as I know, because I have seen someone that transacted up to $1 billion dollars and had no difficulties in doing that. And I’m very sure they did that with a little fee that is more than ten times smaller than what they would have paid if they were making use of a bank. Bitcoin is very good, and bank also has its own ways of being better than Bitcoin as well. We might be in a world where will be needing the both of them. There are people who can’t use Bitcoin, because they don’t have internet.

[thebutton]

I think they both have their own ways of being better than the other. Bitcoin is really good in the sense that it gives us complete freedom over our money and transactions we make.

There are huge transactions that you can make with Bitcoin, there isn’t any limit as far as I know, because I have seen someone that transacted up to $1 billion dollars and had no difficulties in doing that. And I’m very sure they did that with a little fee that is more than ten times smaller than what they would have paid if they were making use of a bank. Bitcoin is very good, and bank also has its own ways of being better than Bitcoin as well. We might be in a world where will be needing the both of them. There are people who can’t use Bitcoin, because they don’t have internet.

I strongly believe as well that BTC would not truly takeover fiat or banks but rather it exist for us to have more options in doing transactions base on how convenient it could be for us that's why I don't get it with people arguing what's best and not. There are perks in using BTC as we know it as well as fiat having multiple practical uses compared to the volatility that BTC has. It is much easier to talk about pricing certain goods in terms of fiat and it is a matter of what mode of payment to use.

Having more choices, in my opinion, is freedom.

[kozlowebdesign]

From experience, bitcoin has a lot more flexibility than traditional banking. The only drawdown is the massive fluctuation in prices like in 2018. It can make or mar investments.

[alizarosa3123]

Be that because it may, we despite everything can't depend just on Bitcoin. Individuals despite everything win their take advantage conventional monetary standards and Bitcoin isn't completely acknowledged, directed or brought formally into our social orders, economy and money related frameworks.

Like you've said numerous individuals despite everything don't think tons about Bitcoin, don't open up to it, don't approach it or simply not intrigued to utilize it.
I don't feel that's getting to change at any point within the near future and major of people will stay reliant on fiat monetary forms and banks, that's the truth .

[Huntler1993]

Absolutely, the little things we do later turns to make us great.  Bitcoin, bitcoin forum, social media platforms(facebook, twitter, IG) .... just name it everything even the earth that we are on wasn't like this when it was created. Little by little we realize the change and how realistic things become... BTC worth nothing some years ago, it was in the system but no one was interested in it over a decade  now people are rushing for it many are willing to join but are scared of it price. Those who were privilege to see BTC go through the developmental stages always curse themselves...Had I known is always the the saying of a ''fool". You just believe in banks just because you haven't tried something new( BTC) you will then realize that all these financial institution are just making life like hell for you 

[online73]

Hello everybody. Yes, I read the article - I liked it. The only thing I would like to change the word Bitcoin to a word is cryptocurrency, because there are still cryptocurrencies that are many times faster to transfer and the transaction cost is not comparatively cheaper. And so, the main idea that cryptocurrency is better than a bank - I fully support it. By a personal example, I show my acquaintances and friends the benefits. Nevertheless, the people are zombified by the media, because in my country I have never heard the positive coverage of cryptocurrencies, and most of my friends do not support me. Time will judge us all.

[Youghoor]

Hell yeah! It is only those who are still being deceived by the banks  that investing with banks is better and more secured than with Bitcoin. I am sure once they get to know more about this amazing technology, they would have a change of mind. Some of us were also skeptical in the very first place but once we got to know how the system works we have fund refuge in it.

[rexxarofmoknathal]

At least in todays' terms BTC does indeed seem a lot better than any of my Banks which btw have now reduced the interest rates by more than half due to the virus.

As much as I appreciate BTC and recommend to others as I truly believe that crypto is the future, I also urge new comers to research thoroughly before investing money into crypto as we all on here know how painstaking/risky using the wrong exchange platform can be, never mind the risk of hacking but hey the rewards makes it all worth it 

[FanatMonet]

Here you can even drown what people can know about Bitcoin, but it is not for them any serious financial instrument that they could use. Here, there is a very fluctuating course, and various mechanisms of whales that can manipulate the price.

[hotmom]

That is why I do not have an active bank account, I keep my funds in bitcoins and gold.

[Bitcoinislife09]

Well, Bitcoin gives us more freedom than traditional fiat currencies and using it we are not depending on banks.
However, we still can't rely only on Bitcoin. People still earn their money in traditional currencies and Bitcoin isn't fully accepted, regulated or introduced formaly into our societies, economy and financial systems.
Like you've said many people still don't know much about Bitcoin, don't trust it, don't have access to it or simply not interested to use it.
I don't think that is going to change any time soon and majo of people will remain dependent on fiat currencies and banks, that is the fact.

I guess even if bitcoin was already popular and useful we still cannot fully trust this compared to banks or fiat money which is more traditional but surely after years it might happened.

Bitcoin is one of the cryptocurrency, bitcoin is not simply a cryptocurrency but it is the leading cryptocurrency. Through bitcoin someone can gain and earn so much money as they are investing their money. In bitcoin your money may be higher compared to your money at the bank. Bitcoin can be an aid to make the money of other people be productive. You may just invest your money online and wait for the charts and trades and from that your bitcoin has the ability to become higher and you cab gaet so much return on investment.

[NavI_027]

That is why I do not have an active bank account, I keep my funds in bitcoins and gold.

Okay, I understand that you diversify your money cryptocurrency and gold. I admit that you did a great choice but my question is where did you store your cold hard cash? I mean, I'm just wondering where you save it since you are not having bank accounts.

Hmm, in my opinion, there's nothing wrong of relying on banks because safety vaults and piggy banks are not 100% safe for storage. Plus, there is now a law against money/coin hoarding.

[zeingrind777]

Many people are just ignorant about bitcoin and I believe that writing an article (as a writer I am) is worth it for bitcoin. Therefore, I decided to write this article to help elaborate (https://link.medium.com/X934BlPLW3).
Please endeavour to READ! and share it too.
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

I agree that bitcoin is better than banks, but in real life, we still need banks. Likewise with fiat money. In real life, we don't always use bitcoin or cryptocurrency, we also need fiat money in traditional transactions such as buying vegetables to farmers or giving money to children.

[ife2020]

I don't want to disregard your claims but bitcoin is not better than the bank.
the bank serves several functions that benefits the poor and the rich even if it means mortgage funds (borrowing)

But the poor cannot benefit from bitcoin cos they can't afford buying lots of it for investment.

Likewise, banks had the last laugh, because people sold off their assets for fiat in a bid to survive the pandemic and eat during lockdown why was bitcoin not used to buy food.+?

Bitcoin will become better and widely accepted such as fiat, but until then fiat /bank are better

[CarnagexD]

I don't want to disregard your claims but bitcoin is not better than the bank.
the bank serves several functions that benefits the poor and the rich even if it means mortgage funds (borrowing)

But the poor cannot benefit from bitcoin cos they can't afford buying lots of it for investment.

Likewise, banks had the last laugh, because people sold off their assets for fiat in a bid to survive the pandemic and eat during lockdown why was bitcoin not used to buy food.+?

Bitcoin will become better and widely accepted such as fiat, but until then fiat /bank are better

Today one of the most controversial topics today are with the use of bitcoin and the bank from the previous years of the bitcoin it is just decentralized many people are using this and does not have any limitation because no one controls it but by adoption many people today are using the bitcoin and some of them does not want to have trouble to their wallets and now they want to make a move of acceptance of the bitcoin from the previous year they are now slowly accepting the use of the bitcoin as the payment but the people do not have enough to their needs still they have trouble for making cash out of their founds because they want to easier and at the same time like atm that does not require too much verification and also it is more convenient I think better is bitcoin with banks because there is a lot of atm today and banks support the process of bitcoin to make easier and helpful to the users.

[carlisle1]

I don't want to disregard your claims but bitcoin is not better than the bank.
the bank serves several functions that benefits the poor and the rich even if it means mortgage funds (borrowing)

Respecting your stand but have you been really using Bitcoin?or i mean have you tried invested inside crypto?

But the poor cannot benefit from bitcoin cos they can't afford buying lots of it for investment.

There is no need to Buy Bitcoin as the poor can have works here or in other sites that they can accumulate Bitcoins.

Likewise, banks had the last laugh, because people sold off their assets for fiat in a bid to survive the pandemic and eat during lockdown why was bitcoin not used to buy food.+?

Depend in which country are you referring and i am sure you are living in place where Bitcoin is not yet adopted so there is no chance of using this to buy foods.

Bitcoin will become better and widely accepted such as fiat, but until then fiat /bank are better

so at least you admit that there will be a chance of being Bitcoin will be much better in banks?

[lienfaye]

When im still new in using bitcoin im hesitant to introduce it to others because of the volatility. But now I can say that bitcoin is way better than banks, being decentralized that no one can control is the best part of it.

Plus I like the fact that it can be an investment because of the price fluctuation. I just hope that more merchants start to accept it as one of the payment method so it wont be hard to use btc as currency since many recognized it already.

[Anonylz]

The advantages of banks are still far more greater than what btc can offer as of now, so don't get it twisted, btc is very handy in some ways but not in every aspect, I don't know why people keep trying to make comparison between the two when we know there are several distinctive functions that separate them,
And as for kyc, really why this is an issue when people already passing through such process from childbirth, when you are born, hospitals take your information for record keeping, you go to school same thing,  you apply for a job same thing and the list goes on.
So bank and btc plays different role to better our lives.

[MCobian]

Of course bitcoin is better than banks, which I like the most from bitcoin is our privacy-protected . Because for bitcoin transactions we don't
need to provide personal data, in contrast to the bank. To open an account at a bank we are required to submit personal data documents.
There are many other benefits of bitcoin compared to banks. As there is no limit to making transactions, transfer fees between countries are
more cheap and with bitcoin can make money too. By knowing the benefits of bitcoin I am increasingly convinced that bitcoin is better when
compared to banks.

[bitbunnny]

I wouldn't put things so plain and simple.
Everything has its advantages and disadvanateges and so it's with Bitcoin and banks too.
Of course that we all would like to be free from banks and be our own bankers but we have to face the truth.
Bitcoin is still not accepted enough and regulated, very small number of people in.the world is using Bitcoin and other cryptocurrencies and it's not even available to everyone.
So in situation like this we still depend on fiat money and need banks and thus it's not so easy to say what is better.

[Swapzone]

Bitcoin, or Crypto, in general, solved a lot of problems and broke many limits we had since the creation of money.

[princesspoppy]

Well, there are many options out there that are available to make payment and receiving transactions for whatever reason we have. There are traditional way like banking system and using cards and there are newer and more advance ways like using cryptos and e-wallets out there. But, I don't really see the point why do we have to compare such systems because we all know that all people can make their own decisions in life, most especially when it comes to their money. There are people who prefer to use banks other than these new technology that some can't really understand. But some also wants to embrace these new techs. I don't see any problem with that tho.

[turkandjaydee]

Plus I like the fact that it can be an investment because of the price fluctuation.

Actually price fluctuation isn't good for investment. For investment, stable growth is better. And price fluctuation is only good for an expert trader.

I just hope that more merchants start to accept it as one of the payment method so it wont be hard to use btc as currency since many recognized it already.

More merchants like how many? I read there are many countries that are still banning such cryptocurrency things. So to be accepted globally, it will very unlikely to happen in the near future for cryptocurrency.

There are people who prefer to use banks other than these new technology that some can't really understand.

Logically, banks are suitable for careless people or people who don't want the hassle of securing their money because banks provide things like transfer-limit, identity confirmation, and even reverse transactions.

[simonkn0wsbest]

Maybe it will be one of the major option in the future, but not yet today, because a lot of people are still uncomfortable using BTC since it is not something that they can hold physically, which give people the ASSURANCE that their money is safe or the thought that it is real, specially with the unreliable internet connectivity for most countries around the world.

[FlightyPouch]

Well, if we will be comparing these two, obviously bitcoin has the upper hand as it is made to take down the bank. With bitcoin, we don't need banks as we are the bank of our own bitcoins. In terms of security, banks and bitcoin have a flaw; banks in their security literally and with bitcoin being used by a human that is still prone from being hacked and put their bitcoins to high possibility of being hacked.

[finaleshot2016]

Well, if we will be comparing these two, obviously bitcoin has the upper hand as it is made to take down the bank. With bitcoin, we don't need banks as we are the bank of our own bitcoins. In terms of security, banks and bitcoin have a flaw; banks in their security literally and with bitcoin being used by a human that is still prone from being hacked and put their bitcoins to high possibility of being hacked.

In terms of confidentiality, bitcoin is something safer than a bank, there is nothing to be hacked or stolen because there are no servers on the network that contain all the data such as a particular wallet's password and usernames. We all know that each user keeps the keys in Bitcoin to unlock their own personal Bitcoin wallet and that's the only way to use them. The chain network is absolutely awesome and makes me realize it's one of the safe networks of our digital technologies that remains. Unlike the banking network, current servers store such records, and once infiltrated, it's easy to move money without getting a sweat.

[adzino]

Well, if we will be comparing these two, obviously bitcoin has the upper hand as it is made to take down the bank. With bitcoin, we don't need banks as we are the bank of our own bitcoins. In terms of security, banks and bitcoin have a flaw; banks in their security literally and with bitcoin being used by a human that is still prone from being hacked and put their bitcoins to high possibility of being hacked.

I find it funny when they start dissing the banks when they themselves use the banking system almost regularly (hypocrites). Now, who told you that bitcoin was created to destroy and take down the banks? Look at the people around us and how they are using crypto currencies. Most of them are just using it as a store of value instead of a regular currency. Most of them are using it for making profits. They cash out their profits in fiat! How do you expect bitcoin to take down banks when people act in this way.
Banks can't be taken down easily. At least not now.

[denzkilim]

Bitcoin is among the best assets to trade because of its volatility and real traders know about that because they always take advantage of any opportunity that Bitcoin is offering to everyone whether it a bull market condition or its a bear market condition. These kinds of opportunities might be unseen from other people but it is clearly visible to those who have knowledge about it. If you guys know what I mean.

[Gibreil]

Many people are just ignorant about bitcoin and I believe that writing an article (as a writer I am) is worth it for bitcoin. Therefore, I decided to write this article to help elaborate (https://link.medium.com/X934BlPLW3).
Please endeavour to READ! and share it too.
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

They are ignoring bitcoin because they don't know the use of it. Instead of bashing this ignorant people, we should also share to them about this stuff. I believe that bitcoin is way greater than banks. Actually, it has more potential than leaving your money in bank. You can invest with it, send and receive. A lot of things that bitcoin can do even you are at your own home.

[so98nn]

Honestly my experience about sharing bitcoin stuff to rest of the world is pretty lame. I have told every person in my friend circle, including the techy cyber persons and guess what they actually are against it because of the same reasons you taught, it's volatile nature, insecurity and less acceptance in the community.

I believe all we can do is just keep the information spreading over forum, blogs, promote good stuff on twitter, YouTube blogs etc.

Let's just agree we can't force someone to like bitcoin.

[Ifra24]

~snip~
I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

First saw the title I thought would be interesting. Discusses the advantages of bitcoin over banks. But I see the contents seem to be far from the title you made. You are invited to write promotional bitcoin, this is good but I think not in accordance with the title.
Regarding promotion, I agree with the promotion the initial introduction correctly is more important, such as the founder, how it works, benefits, and risks.

[Ozero]

Bitcoin and banks, although they have some common features, however, these are completely different concepts that have different functions and roles in society. Banks are a single network of financial institutions that perform much more extensive functions in society than Bitcoin and the entire decentralized cryptocurrency. Banks generally serve the state and the country's economy and are under reliable state protection.
Bitcoin, like the whole decentralized cryptocurrency, is only an alternative means of payment and I would say an additional financial asset to the existing traditional assets and therefore it cannot and cannot replace them, let alone replace the entire banking system.

[turkandjaydee]

Look at the people around us and how they are using crypto currencies. Most of them are just using it as a store of value instead of a regular currency. Most of them are using it for making profits. They cash out their profits in fiat! How do you expect bitcoin to take down banks when people act in this way.

This happens because as many people said, cryptocurrencies are not accepted widely enough to be used by people frequently for daily uses.
Even I read that cryptocurrency is still banned in some countries. So people have no choice but to exchange it to fiat.

Honestly my experience about sharing bitcoin stuff to rest of the world is pretty lame. I have told every person in my friend circle, including the techy cyber persons and guess what they actually are against it because of the same reasons you taught, it's volatile nature, insecurity and less acceptance in the community.

Let's just agree we can't force someone to like bitcoin.

What's the benefit of using bitcoin that you told them? If it's not really important to them or even they don't need it, then it's useless to try to convince them.

[Janation]

Many people are just ignorant about bitcoin and I believe that writing an article (as a writer I am) is worth it for bitcoin. Therefore, I decided to write this article to help elaborate (https://link.medium.com/X934BlPLW3).
Please endeavour to READ! and share it too.
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

We can't really push people to use it if they don't want to.

But then again, Bank vs. Bitcoin has its fair share of debate in the past and until now, people are still using banks despite them investing and holding Bitcoin and other cryptocurrencies. We can't just force people to use Bitcoin and tell them that it is way better than the Banks, why can't we just introduce these people into Bitcoin and tell them the reasons why they should use it, not tell them how good is it against Banks or the government.

[elisabetheva]

Bitcoin and banks, although they have some common features, however, these are completely different concepts that have different functions and roles in society. Banks are a single network of financial institutions that perform much more extensive functions in society than Bitcoin and the entire decentralized cryptocurrency. Banks generally serve the state and the country's economy and are under reliable state protection.
Bitcoin, like the whole decentralized cryptocurrency, is only an alternative means of payment and I would say an additional financial asset to the existing traditional assets and therefore it cannot and cannot replace them, let alone replace the entire banking system.

bitcoin is not easy to replace the role of banking, because the system is clearly very different. what you say is true that banking is more acceptable in the community because what is certain is a legitimate government product with clear rules. so that the convenience of transactions made by banks can better guarantee their security and can be accounted for. although bitcoin may be faster and easier to transact without any restrictions at all without differentiating countries.

[Murat]

This is the biggest mistake we are doing nowadays, I don't like this way of comparing both of Bitcoin and Bank, Without Bank you can't imagine your financial status and Bitcoin could be your great source of making money but Don't Compare Bitcoin with Bank. Both have different uses in the different aspects, Who knows what will happen in the coming days so nothing is impossible and Everything has own importance to its own way, I may predict Bitcoin will dominate in the future but I never ignore the existing banking system because it's the base of our economy. It's true that Bitcoin has to go a long way to make it's significance in the mass level. so time will say what is the best or better.

[FlightyPouch]

Well, if we will be comparing these two, obviously bitcoin has the upper hand as it is made to take down the bank. With bitcoin, we don't need banks as we are the bank of our own bitcoins. In terms of security, banks and bitcoin have a flaw; banks in their security literally and with bitcoin being used by a human that is still prone from being hacked and put their bitcoins to high possibility of being hacked.

Now, who told you that bitcoin was created to destroy and take down the banks? Look at the people around us and how they are using crypto currencies. Most of them are just using it as a store of value instead of a regular currency. Most of them are using it for making profits. They cash out their profits in fiat! How do you expect bitcoin to take down banks when people act in this way.
Banks can't be taken down easily. At least not now.

Well, it is my own opinion. Users have the full control of their bitcoins, they are the one who is securing it, as the banks have with the fiats on their hands. With bitcoin, people don't need to rely on banks to hold for their currencies though there are those people who are still holding their crypto currencies on some exchanges which they shouldn't.

[Janation]

Well, if we will be comparing these two, obviously bitcoin has the upper hand as it is made to take down the bank. With bitcoin, we don't need banks as we are the bank of our own bitcoins. In terms of security, banks and bitcoin have a flaw; banks in their security literally and with bitcoin being used by a human that is still prone from being hacked and put their bitcoins to high possibility of being hacked.

Now, who told you that bitcoin was created to destroy and take down the banks? Look at the people around us and how they are using crypto currencies. Most of them are just using it as a store of value instead of a regular currency. Most of them are using it for making profits. They cash out their profits in fiat! How do you expect bitcoin to take down banks when people act in this way.
Banks can't be taken down easily. At least not now.

Well, it is my own opinion. Users have the full control of their bitcoins, they are the one who is securing it, as the banks have with the fiats on their hands. With bitcoin, people don't need to rely on banks to hold for their currencies though there are those people who are still holding their crypto currencies on some exchanges which they shouldn't.

It is true that Bitcoin is better but how do the people react about it?

Despite the better one, people are still and will continue to use banks as proven how inevitable they are when it comes to their money and their use in the country. From the money being circulated by the bank to the loans they are giving, there are a lot of perks of banks in a country and to its people, while banks focuses mainly on the users, people are not really interested with it as hacks and scams are all over it.

[K4C]

There are many people are using bank but all of country are convert bitcoin to bank. Bitcoin don,t have any spending limits which means you can send as much money as you need to best time of bank. Some of people are paying bitcoin system allowed in this system. Now we are paying payment system. This system are many different e-wallets but transactions can range from 2-4% on foreign exchange fees fixed fee for sending and receiving payments and 1-5% for deposits/withdrawals into your bank.  so i can say that bitcoin is better than bank. 

[Sanugarid]

There are many people are using bank but all of country are convert bitcoin to bank. Bitcoin don,t have any spending limits which means you can send as much money as you need to best time of bank. Some of people are paying bitcoin system allowed in this system. Now we are paying payment system. This system are many different e-wallets but transactions can range from 2-4% on foreign exchange fees fixed fee for sending and receiving payments and 1-5% for deposits/withdrawals into your bank.  so i can say that bitcoin is better than bank. 

Bitcoin is great there is no doubt on that fact but considering the stage of bitcoin with pretty much volatility in it won't take long for the bank to treat it as a threat especially when it gets to their way. As bank is under central government, it is easy for them to report what is going on with financial matters on the authorities which might lead to some horrible things including bitcoin to be banned by the state. There are already integration testing that is happening now, any time soon we might see banks offering digital coins for investment best if they consider bitcoin as one of it.

[aakashsangwan]

Well, if we will be comparing these two, obviously bitcoin has the upper hand as it is made to take down the bank. With bitcoin, we don't need banks as we are the bank of our own bitcoins. In terms of security, banks and bitcoin have a flaw; banks in their security literally and with bitcoin being used by a human that is still prone from being hacked and put their bitcoins to high possibility of being hacked.

Now, who told you that bitcoin was created to destroy and take down the banks? Look at the people around us and how they are using crypto currencies. Most of them are just using it as a store of value instead of a regular currency. Most of them are using it for making profits. They cash out their profits in fiat! How do you expect bitcoin to take down banks when people act in this way.
Banks can't be taken down easily. At least not now.

Well, it is my own opinion. Users have the full control of their bitcoins, they are the one who is securing it, as the banks have with the fiats on their hands. With bitcoin, people don't need to rely on banks to hold for their currencies though there are those people who are still holding their crypto currencies on some exchanges which they shouldn't.

It is true that Bitcoin is better but how do the people react about it?

Despite the better one, people are still and will continue to use banks as proven how inevitable they are when it comes to their money and their use in the country. From the money being circulated by the bank to the loans they are giving, there are a lot of perks of banks in a country and to its people, while banks focuses mainly on the users, people are not really interested with it as hacks and scams are all over it.

Also banks most oftenly are approving the loans that are going to default and also to those people who have history of defaulting a loan and when that happens who pays for the losses of the bank, it's us the people who have their money in the banks.
Also with those people the banks make private deals and monetize over it whereas when they go bankrupt it's us the people who have to pay them to keep them in business aa government always approve bailout to big banks.
Bitcoin is a lot better than putting your money in a bank without any guarantee of its safety.

[BitcoinsGreat]

Bitcoin and banks, although they have some common features, however, these are completely different concepts that have different functions and roles in society. Banks are a single network of financial institutions that perform much more extensive functions in society than Bitcoin and the entire decentralized cryptocurrency. Banks generally serve the state and the country's economy and are under reliable state protection.
Bitcoin, like the whole decentralized cryptocurrency, is only an alternative means of payment and I would say an additional financial asset to the existing traditional assets and therefore it cannot and cannot replace them, let alone replace the entire banking system.

In short, banks will get closed in the future and bitcoin will be the future currency of the world. Banks exists because of the fiat currencies and we all know that these fiat currencies are centralized controlled. With the more use of bitcoins, people will remove their money from the banks and buy crypto, and that will bring end to these banks.

[Sayma83]

Of course Bitcoin is better in many ways than a bank, all our information is recorded by others through the bank, but through Bitcoin our information is only with us, if you want to make a transaction in the bank, you have to go to the bank and have an account, and if you want to use Bitcoin Only if you have an Android mobile. Transactions cannot be done through banks at any time, and transactions can be done at any time through Bitcoin, money cannot be sent to any country through banks, remittances can be done through Bitcoin, so if I talk about the benefits of banks and Bitcoin maybe Then maybe I'm tired and I can't finish it. In a word, Bitcoin has made our transaction system very easy.

[cheater detector]

I think we are here because we're know it how the bitcoin is better than any fiat or bank. If you read on bitcoin whitepaper, the goal of satoshi create bitcoin is to against the third parties or financial institution

A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution

https://bitcoin.org/bitcoin.pdf

[Lorence.xD]

Thinking that bitcoin is better than is too far fetch, though it is not inherently wrong there are some advantages that you can have when you opt out for a bank. This is some that I know but I am no expert so take this with a grain of salt.
1. Insurance - with banks being protected by finance security and commisions, you can ensure that your money is protected though there will be a lot of paperwork (more paperwork if you are a victim of fraud) so you need to know your way around bureaucracy.
2. Offers - banks have offers that can help your money grow like mutual funds or index funds, bonds, though you need to constantly deposit money to it. It may sound crazy but this offers can help you grow your money instead of earning an interest per annum of your money just sitting at your bank.

These are just some of advantages that I know of when it comes to banks, feel free to weigh your decisions, if you want to put your funds on bitcoin it okay albeit they have different advantages.

[Paycoinzzz]

Many people are just ignorant about bitcoin and I believe that writing an article (as a writer I am) is worth it for bitcoin. Therefore, I decided to write this article to help elaborate (https://link.medium.com/X934BlPLW3).
Please endeavour to READ! and share it too.
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

I don't know how long you have been in the crypto market but I feel that this is the way newbies think. I used to acclaim Bitcoin as digital gold and I keep telling my friends about its remarkable growth in the future regardless of the economy. but when the covid came and the two days of strong selling by the whales made me rethink my opinion. I think this is a manipulation game and the way to win is to guess the whale psychology. If you can't and go against the crowd, you will soon lose everything.

[wiss19]

It all depends on what exactly you want to be doing with bitcoin. I have a friend who is a freelancer. He doesn’t invest his money in bitcoin, but he’s always making use of Bitcoin to receive payment from his clients and then sell the bitcoins and convert the money to cash and straight to his bank account. It’s not a must that you will invest in bitcoin, you can use it in different ways, you can just be using for transactions or you can use it is as a storage/savings and investment.

Bitcoin really good when you use it for transaction and is way more better than when you’re using other payment methods like PayPal, Credit Cards, Remittances, bank wire, etc. When you’re making use of Bitcoin, you pay low fees for transaction, you have 24/7 access to your wallet, and you don’t need anybody’s permission on how to use it.

[ampere]

OP, i do not think people are ignorant about bitcoin, situations as this has to ve judged based on personal experiences.
Citing me as an example, i can ration the use of fiat and bitcoin simultaneously and conveniently, and i would judge, bitcoin is not yet on the standards of fiat, because in my country, you literally cannot do anything with bitcoin here so how is it better??

On the contrary, do what suits you best and always do your own research

[Ifra24]

Today, Bitcoin can't be controlled by the banking systems because they don't have an intermediary and are fully decentralized. This is the principal reason why it is better than your bank. Moreover, it doesn't have spending limits, it can be used to settle international finances and it can be accessed anytime and anywhere without the burden of paying high transaction fees.

But not without risk, crypto if not regulated can disrupt the stability of the national financial system if there is a bubble burst. Te reason there is interaction between virtual currencies and the real economy. There is a high risk of volatility price,  because the value determined on the expectations of future supply and demand or speculative, "

[andisuk]

Many people are just ignorant about bitcoin and I believe that writing an article (as a writer I am) is worth it for bitcoin. Therefore, I decided to write this article to help elaborate (https://link.medium.com/X934BlPLW3).
Please endeavour to READ! and share it too.
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

We can't really push people to use it if they don't want to.

But then again, Bank vs. Bitcoin has its fair share of debate in the past and until now, people are still using banks despite them investing and holding Bitcoin and other cryptocurrencies. We can't just force people to use Bitcoin and tell them that it is way better than the Banks, why can't we just introduce these people into Bitcoin and tell them the reasons why they should use it, not tell them how good is it against Banks or the government.

absolutely right, we can not force a will on others, because there are so many different thoughts about bitcoin, and the banks themselves will never be separated from our lives because the bank is the one who regulates the finances of a country

[Pamadar]

Today, Bitcoin can't be controlled by the banking systems because they don't have an intermediary and are fully decentralized. This is the principal reason why it is better than your bank. Moreover, it doesn't have spending limits, it can be used to settle international finances and it can be accessed anytime and anywhere without the burden of paying high transaction fees.

But not without risk, crypto if not regulated can disrupt the stability of the national financial system if there is a bubble burst. Te reason there is interaction between virtual currencies and the real economy. There is a high risk of volatility price,  because the value determined on the expectations of future supply and demand or speculative, "

If not regulated the value will continue be speculative, there are reasons being much better than banks and also reason why risk are in need to consider.
Take time to work with deeper understanding in order to choose your position knowing the benefits and all the potentials should be taken place before you deal with crypto market.

[Eplus_Team]

I strongly agree that bitcoin is better than a bank. I like bitcoin because it keeps my privacy, and it's very easy to do
transactions with bitcoin. The most important thing is that bitcoin can make a profit. Unlike a bank whose technology is too
old, it is not suitable to use right now. And the most terrible is the product of the bank, there is nothing as profitable as
bitcoin. Many governments are now corrupt and want to enrich themselves, in my opinion that's the main reason they
refused bitcoin until now...

[ritu_bd]

I am an expatriate I came to Saudi Arabia to earn money but, I have not got any good job in this country yet due to which, I have to go to new department every day for work, some days in Medina, some days in Makkah, some days in Jeddah, now I am here Jizan, but it is impossible for me to know and know where a bank is in each department, moreover, there is the problem of having a bank account, which is the reason for the increase. It would not have been possible to pay for my family's expenses if it were not for Bitcoin, which is why I now trade Bitcoin. I live anywhere in Saudi Arabia when my family needs what I can immediately fulfill by selling Bitcoin, which was not possible if through a bank. So comparing a bank with Bitcoin is like comparing a tenant with a king.

[whyrqa]

I am an expatriate I came to Saudi Arabia to earn money but, I have not got any good job in this country yet due to which, I have to go to new department every day for work, some days in Medina, some days in Makkah, some days in Jeddah, now I am here Jizan, but it is impossible for me to know and know where a bank is in each department, moreover, there is the problem of having a bank account, which is the reason for the increase. It would not have been possible to pay for my family's expenses if it were not for Bitcoin, which is why I now trade Bitcoin. I live anywhere in Saudi Arabia when my family needs what I can immediately fulfill by selling Bitcoin, which was not possible if through a bank. So comparing a bank with Bitcoin is like comparing a tenant with a king.

most likely it is not about comparing Bitcoin and the banking system, but about what is safer and more profitable for the user to have funds in Bitcoin in their BTC wallet or to have a bank account.  in any case, if you consider personal funds in a bank account, then you practically do not own this money, since the numbers on the monitor of the ATM show the amount of the bank debt to you and nothing more.  if the bank has any problems, then it is more likely that you will lose these funds. Of course, if state programs are not created to protect the rights of money depositors.  but nevertheless, the banking system is not transparent and outdated, as you said.  Thus, it is the Bitcoin blockchain that gives complete freedom of action for the user, from the safety of their funds, to their seamless use.

[FanatMonet]

I strongly agree that bitcoin is better than a bank. I like bitcoin because it keeps my privacy, and it's very easy to do
transactions with bitcoin. The most important thing is that bitcoin can make a profit. Unlike a bank whose technology is too
old, it is not suitable to use right now. And the most terrible is the product of the bank, there is nothing as profitable as
bitcoin. Many governments are now corrupt and want to enrich themselves, in my opinion that's the main reason they
refused bitcoin until now...

You are right, but still you can’t talk about complete anonymity, it is not achievable, if you need to be found, then you will be found, there is no doubt about it.
The trump card of banks is the ability to get money back if something happens, with crypto currency, if it is stolen, it is very doubtful.

[MicroGuy]

At least at my bank I can withdraw cash and make private transactions.

With Bitcoin all of my transactions are recorded forever and broadcast to the World.

[Lasky366]

Look, Bitcoin Given us lots of freeness.We can spend it anytime whatever we want.But it's another truth is Bitcoin is not fully publiced or accessible in worldwide. Lots of institution don't expect bitcoin as payment method. So we are still depending on Bank. So for now we have no scope to call that Bitcoin is better than Bank.

[Janation]

Bitcoin is a lot better than putting your money in a bank without any guarantee of its safety.

And that is the same with Bitcoin.

You can't always guarantee the safety of it in your wallet especially if you have a little knowledge about securing it. Hacks and scams always happen and if you are unaware of it, I think it is better for you to save your money in the bank. Another thing is that we never know when it will drop and when it will pump.

It is more of a sepculative asset than a way to "save" your money.

[Santly]

Many people are just ignorant about bitcoin and I believe that writing an article (as a writer I am) is worth it for bitcoin. Therefore, I decided to write this article to help elaborate (https://link.medium.com/X934BlPLW3).
Please endeavour to READ! and share it too.
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

Some people misunderstand the nature of bitcoin or cryptocurrencies or are too afraid to attempt investing in it. I have been reading about a few, and I thought coin-to-coin cryptocurrency exchange would be a great start. Like PROBIT, for example, it has been doing well recently. Jumping into a new business, I'd worry most about security. I found that PROBIT got really good security. they support FIDO U2F and use hardware security keys and a software-based 2FA. To examine exchange website security, I used in Mozilla's Observatory-test, and ProBit received a B-score. This is better than most exchanges, which had shown me Fs and Ds. You could try it yourself: (https://observatory.mozilla.org/), just write (www.probit.com) or any other website you want to check.

[AjithBtc]

One of the user mentioned that his transactions were private with bank, and with bitcoin the transactions were broadcasted to the world. How this person state his transactions were private, somehow a third person is moving the funds when he go to the bank to deposit and to withdraw. Just to eliminate the third person involvement everything is transparent and the end users weren't unknown when making transactions between two addresses.