Bitcoin is better than your bank!

[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.  

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[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.