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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 955 times)
GDragon
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October 16, 2020, 04:27:11 AM
 #121

I used to have the impractical dream of having no bank in my life. But I soon realized that it is extremely hard to right from the start. First of all, I am surrounded by people who have no choice but to use the banking system. They are my friends, my families, my colleagues and my clients. Getting rid of bank, therefore, becomes more difficult since I always have to transfer my money from to this person or that person.

Second, since bitcoin was invented, bank also proves that it still has a position in this society. Many updates and new features have been added to enhance capabilities and transaction speed. They are becoming more and more faster than bitcoin (still there are many cryptocurrencies which are faster but they are not widely used). Bitcoin is a good competitor up to now. Dev team works day and night to give us the best advantages which might turn my dream comes true. But there is still a lot to do ahead


Same thing with me, the first time I learned what bitcoin is, I have this imagination of living with it. But I realized that I can't live with bitcoin only if all the things I've been purchasing isn't bitcoin friendly. If I have to send money to a family or for online purchase, I still need to convert it to fiat. Living a day with bitcoin is very hassle, I can't even order a single food in my place using bitcoin, same thing with gas. And I can't afford to live everyday of my life like that. I am a supporter of bitcoin, but we have to face the reality that fiat online bank is the best as of now. What we need to do is do something for this currency to be adopted. and maybe we'll get a chance in the future.

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doomloop
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October 16, 2020, 04:35:22 PM
 #122

I think it is difficult in this world without having your own bank account, especially if you are an employee, so your net earnings will have a destination that here you will receive it. In banks, here we sometimes borrow money or take a loan for us to buy things that we needed the most such as opening your own business or buying a new property. It is the reason why the government will not let bitcoin and cryptocurrency reign in the future because people still need banks for their daily lives.
We all need fiat and banks to live a normal life but I guess living on crypto can have many different meanings like for someone like me I pay my bills, recharges and everything possible with money earned through bitcoins which should count as living through bitcoins because not directly but all my expenses are being done because of bitcoins. I don't pay in bitcoins but I use bitrefills for recharges and I use some local services for my bills or if they are not active I try and exchange for fiat my coins and pay them.

Living bank-less can be near impossible in a country like mine because you cannot get enough digitalization in coming years here and cannot expect people to accept payments digitally let alone bitcoins or crypto. Most of the people here in my country want to save tax and they would always prefer cash so they can save it and avoid tax and in such situations you can't live on crypto completely.




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BuNga_cute
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October 16, 2020, 04:54:44 PM
 #123

I believe many people want to live without using a bank, so financial transactions are carried out using cryptocurrency.
But unfortunately it is difficult to be realized, because the government certainly will not allow this to happen. Even though
transactions using cryptocurrency have quite a number of benefits, especially in a pandemic situation like now, live bankless
can prevent the spread of the corona virus.

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