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Question: Do you actively try to reduce exposure to banks and live mostly with crypto?
Not at all, I need my bank account - 18 (33.3%)
Would like, but it's difficult - 21 (38.9%)
Partially - 6 (11.1%)
Mostly - 3 (5.6%)
I already live completely bankless - 1 (1.9%)
Bitcoin will never replace banks - 3 (5.6%)
I did it in the past - 1 (1.9%)
I am planning it - 1 (1.9%)
Total Voters: 54

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Author Topic: Anybody here trying to live bankless (using Bitcoin / cryptocurrencies)?  (Read 972 times)
Chrystora123
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September 29, 2020, 02:17:14 PM
Merited by d5000 (1)
 #81

mentally I am ready to live without a bank (using cryptocurrency only) but the majority of people around me are still not ready for that..  85% of my daily transactions use fiat money and 15% use credit cards.  I am only cannot change the system that has been embedded in the community around me..

I am currently running a vehicle washing business (cars & motorbikes), I include accepting payments via Bitcoin and Doge but no one has ever made a payment with it (not even asking for other coins).  I realize that 95% of residents in my city still don't know what cryptocurrency is, I continue to be patient because I really believe that in the future, payments via cryptocurrency will be adopted en masse..

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September 29, 2020, 04:19:43 PM
 #82

i love banks and my bank never ask silly questions like why i deal with crypto and i like that.

i dont see any problem of banks as longes they dont act like police and i think banks want to be nice with us otherwise they lose customer!!
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September 29, 2020, 11:54:40 PM
 #83

@NotATether, @Chrystora123: thank you for your postings.

I see that crypto debit cards / prepaid cards seem to be a necessity for those wanting to use Bitcoin and other cryptocurrencies at least indirectly for payments, without using bank accounts directlyu. This obviously makes it "not completely bankless", because the companies offering these services, depending on the jurisdiction, have to register "as a bank" or partner with an already established bank or payment service provider. This is even getting worse now - because of regulation tightening, crypto exchanges and online wallet service providers in jurisdictions like the EU will have to do the same.

Cash was also mentioned as a payment vehicle. I remember a year when I was younger when I also lived completely with cash. This has obviously several drawbacks - for example, one time my apartment was robbed and I lost a significant part of my salary. I think I wouldn't do this again. But I perhaps could live with a combination of cash and crypto, if crypto wasn't so volatile and if acceptance of crypto among my customers were higher.

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September 30, 2020, 04:00:19 AM
 #84

How i wish i can use all my cryptocurrencies in daily living but it is difficult since my country may not be banning bitcoin/cryptos
but not totally supporting this meaning the use of these currencies are limited,and mostly we are using
 this for investing in future ,we believe that sooner it will be indeed available for our daily living but for now?we will only invest,accumulate and Hold or maybe
 sometimes convert into fiat
 specially when the value is growing high that profits is coming our ways.
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September 30, 2020, 08:09:58 AM
 #85

How i wish i can use all my cryptocurrencies in daily living but it is difficult since my country may not be banning bitcoin/cryptos
but not totally supporting this meaning the use of these currencies are limited,and mostly we are using
 this for investing in future ,we believe that sooner it will be indeed available for our daily living but for now?we will only invest,accumulate and Hold or maybe
 sometimes convert into fiat
 specially when the value is growing high that profits is coming our ways.

I am trying to live bankless as much as possible because the fees are just getting insanely high for me. For example, there are fees on your checking account, extra fees for any transaction, fees on the credit card, special fees for your portfolio and depot and so on. With these fees and no interest on my savings it's just not worth it to leave money at the bank. Most of my payments I am doing with cash. It would be awesome if supermarkets and gas stations would accept bitcoins.
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September 30, 2020, 09:14:31 AM
 #86

I recently encourage My cousin and two of my friends who has Online Business to consider using Bitcoin(and some other crypto that is supported by our local wallet)as one option in accepting Payments since the demand in online foods,service and gadgets are really hyping now,since pandemic time and now that Online classes is also coming and good to hear that two of them are now accepting crypto as payment.

but in supermarket?this will take long because of lacking support from the government,though we are open to use and trade crypto on our own risk.

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September 30, 2020, 01:00:15 PM
 #87

Using a bankless bitcoin cryptocurrency will bring a lot of benefits to everyone in the current context of the epidemic everyone is leaning towards online work at a time when everyone can buy everything using cryptocurrencies it will double the demand for crypto and overcome the crisis. It will take a long time to accept crypto as money countries do not support crypto yet transactions can be a bit of a hassle but great for future investments.
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October 01, 2020, 03:43:21 AM
 #88

I recently encourage My cousin and two of my friends who has Online Business to consider using Bitcoin(and some other crypto that is supported by our local wallet)as one option in accepting Payments since the demand in online foods,service and gadgets are really hyping now,since pandemic time and now that Online classes is also coming and good to hear that two of them are now accepting crypto as payment.

but in supermarket?this will take long because of lacking support from the government,though we are open to use and trade crypto on our own risk.

There's a contrast between utilizing a bank and utilization of cryptographic money.
Banks are regularly using for guarding your cash,  paying bills, taxes, and compensation.
You can't survive without banks since you can't cover your bills or get you to pay rates in bitcoins.
In numerous zone, banks are required to purchase properties, vehicles or settling charge and our nation is one of them
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October 01, 2020, 03:57:38 AM
 #89

If cryptocurrency can be used like fiat as a transaction that can be used to buy anything, I will do so entirely because of the convenience and safety of use and the freedom to use it.
However, it is unfortunate that in the country I live in, there are no purchases or transactions using cryptocurrency or bitcoin for purchases of any kind, and have to convert them to fiat in order to be able to make any purchases and transactions.

 
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October 01, 2020, 04:39:00 AM
 #90

If cryptocurrency can be used like fiat as a transaction that can be used to buy anything, I will do so entirely because of the convenience and safety of use and the freedom to use it.
However, it is unfortunate that in the country I live in, there are no purchases or transactions using cryptocurrency or bitcoin for purchases of any kind, and have to convert them to fiat in order to be able to make any purchases and transactions.

The same with you there are some of the establishment does not know the use of the cryptocurrency. Right now I don't have any banks and the one I only use is a cryptocurrency wallet which only has a  bitcoin and bitcoin cash, They are not truly adopted the use of the cryptocurrency and only a few people appreciate this kind of payment method.
But still, soon I want to apply to the bank because by this you can have a secured transaction and there is an assurance that your money than the use of the bitcoin once you send it, its gone.

I want to share AFAIK we have a thread on our local > Pilipinas discussion about this kind of business are establishing the use of the bitcoin or cryptocurrency as payment and also there are some well-known people already made and support their own business with the use of this coin.

https://bitcointalk.org/index.php?topic=5249761.0

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October 01, 2020, 03:01:51 PM
 #91

I don't know where you live, but in Europe, it's impossible to register a car, or buy a house without a bank account.
I also believe it's impossible to pay tax without one, but I have limited experience with tax.

But in relation with our situation right now during this pandemic, it is really not necessary to live bankless even when we are not ready in a sudden change in transactions. There are still a lot of people who are used to pay with bank accounts because they think that it is much easier and faster.

In some countries, it is really not that easy to evolve in terms of making transaction because not all of us do have an urge to use cash in paying bills and other expenses and rural areas are using cash because it is a traditional way of paying something. We also need to consider other things, not only the evolution of transactions.

In order to have a bankless society, each and every people who wants to live without should be brave enough to risk their health in this pandemic.

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October 01, 2020, 03:17:29 PM
 #92

It is still hard to me, there is no merchant who accepts crypto currency as a mean of payment since my government still ban it.

Moreover with now, I have no job in my real life and I just focus to be a trader I must withdraw my crypto currency to my bank account at least once a week for my basic need. Actually, I'm ready to leave it as some user above me, with the reason the government has facilitated it.

Because, since the previous months after the coronavirus has killed many people in my country I never use the money paper anymore, I just use digital payment or using debit card to make any transction and I'm more comfortable to using it. So, I'm not weird if sometimes crypto currency is being used as a mean of payment I will not be stiff to doing so since I have enjoyed it now.
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October 01, 2020, 05:11:51 PM
 #93

You can't avoid banks! I mean you have, but how many people can buy anything with bitcoins directly? Not with some cards that goes through some payment processors, I am interested just in direct line between buyer and seller? Well let me tell you, just rare people have the opportunity to make deals like that one.
I think there are people who can avoid banks totally, but those people live out from cities! Banks have finger in everything, so in one way or another if you are participating in this system (as we all do) you have conntacts with the bank, or the merchant, either way you can't avoid them.
Let's be clear about one thing, anything is possible, living bankless is possible,  but you will need a good organization and you will need to calculate each step you make!

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shield132
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October 01, 2020, 06:24:00 PM
 #94

By the way, what about if I get my salary in cash directly and just pay with cash in supermarkets? And what if the government pays communal service fees? Or what if I just directly go into their offices and pay there with cash? There are a lot of people who don't use banks, even in some good countries. So I wouldn't say that it's impossible or nearly impossible to live without banks. You don't need the help of cryptocurrencies in this case too.
Btw owning of a crypto card doesn't mean that you live bankless because it's in touch with banks too. By using crypto, you'll be bankless when you use your own wallet and send transactions from this wallet without any 3rd parties.

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October 01, 2020, 11:57:47 PM
 #95

I am waiting when that day will come where everything will be digital, and bitcoin will be used to transact each and everything. But does not look in my country it would soon be applicable because still there is lot of uncertainties around this and not everyone is ready to use it. Slowly the change may come but will take long period of time for sure.

There are a lot of countries that can't also turn their transactions digitally even if they wanted to. There are countries that is not technologically fit with that but I know they could do that in the next years when countries are actually applying that system. I don't think it would be bitcoin or other crypto currencies though but for sure, it would be digital transactions in the future.

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October 02, 2020, 12:10:13 PM
 #96

IMO we can't live totally bankless nowadays. Cryptocurrency isn't widely adopted and using cash as the main payment method isn't so easy.

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October 02, 2020, 12:43:53 PM
 #97

The chance of going bankless won't happen in the short. To my understanding, at the moment everything is directly or indirectly related to banks. Maybe the trades taking place within the exchange doens't require the banking. The same when wanted to be exchanged to fiat there is a need of Bank. One can live only with cryptocurrency, but it's isn't that easy as one living with banks/fiat.

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ice098
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October 02, 2020, 02:15:40 PM
 #98

I don't know where you live, but in Europe, it's impossible to register a car, or buy a house without a bank account.
I also believe it's impossible to pay tax without one, but I have limited experience with tax.

But in relation with our situation right now during this pandemic, it is really not necessary to live bankless even when we are not ready in a sudden change in transactions. There are still a lot of people who are used to pay with bank accounts because they think that it is much easier and faster.

In some countries, it is really not that easy to evolve in terms of making transaction because not all of us do have an urge to use cash in paying bills and other expenses and rural areas are using cash because it is a traditional way of paying something. We also need to consider other things, not only the evolution of transactions.

In order to have a bankless society, each and every people who wants to live without should be brave enough to risk their health in this pandemic.

Apparently, this pandemic brought to us drought and anxiety on or daily living but also this pandemic doesn't also make a way for a people to live bankless. Even if there is a danger goin into a banks to deal with their bank transactions to be honest they never mind it since they are thinking that bank transactions is a lot convenient than transacting online. And up to now we are still living where traditional fiat transactions hand in hand are at work. For me i'm not yet ready to try living bankless totally.

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October 02, 2020, 05:52:24 PM
 #99

mentally I am ready to live without a bank (using cryptocurrency only) but the majority of people around me are still not ready for that..  85% of my daily transactions use fiat money and 15% use credit cards.  I am only cannot change the system that has been embedded in the community around me..

I am currently running a vehicle washing business (cars & motorbikes), I include accepting payments via Bitcoin and Doge but no one has ever made a payment with it (not even asking for other coins).  I realize that 95% of residents in my city still don't know what cryptocurrency is, I continue to be patient because I really believe that in the future, payments via cryptocurrency will be adopted en masse..

Maybe this is the reason why those who want to try living with bitcoin only struggles to do so. Beside the volatility because it can be solved already when you are trying to buy something using btc. Again and again, we can't live in a society where it is so hard to find a place to spend our money. I've watch a short vlog of friends who tried to live a day using btc only, and they barely pulled it off. They got a hotel after so many tries, same with a restaurant. But the vlog just shows it's hard, some restaurants doesn't even know what bitcoin is. It shows the hassle it will cost you everyday just by trying to use btc, would you want to do it everyday, and of course no, no one would want to.

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October 03, 2020, 02:18:10 AM
 #100

mentally I am ready to live without a bank (using cryptocurrency only) but the majority of people around me are still not ready for that..  85% of my daily transactions use fiat money and 15% use credit cards.  I am only cannot change the system that has been embedded in the community around me..

I am currently running a vehicle washing business (cars & motorbikes), I include accepting payments via Bitcoin and Doge but no one has ever made a payment with it (not even asking for other coins).  I realize that 95% of residents in my city still don't know what cryptocurrency is, I continue to be patient because I really believe that in the future, payments via cryptocurrency will be adopted en masse..

Maybe this is the reason why those who want to try living with bitcoin only struggles to do so. Beside the volatility because it can be solved already when you are trying to buy something using btc. Again and again, we can't live in a society where it is so hard to find a place to spend our money. I've watch a short vlog of friends who tried to live a day using btc only, and they barely pulled it off. They got a hotel after so many tries, same with a restaurant. But the vlog just shows it's hard, some restaurants doesn't even know what bitcoin is. It shows the hassle it will cost you everyday just by trying to use btc, would you want to do it everyday, and of course no, no one would want to.

Its not that people don't know about cryptocurrency its just that people is not ready to make it their primary payments for everything that they are doing or buying because just like what the first person said it is embedded to the community and for the next century it will still be, its hard to change something that people is comfortable from and has been doing for so many years and honestly i agree with what you have said i would not want to struggle every single day just be because people are not accepting bitcoin as payment. For people who wanted to try living with only using bitcoin lets drop it for now we cant live doing it but its not possible to do so because many years from now maybe most of the essential stores will accept alternative payment like bitcoin.
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