Bitcoin is better than your bank!

[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.

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[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  .