Who to Trust, Fiat Banks or BTC?

[Hughes_Ryan]

I still trust the bank but not completely. Banks are still a necessary liquidity, we need some to maintain, some cash to operate and defend during the pandemic. Of course, I made a big withdrawal to invest in bitcoin & crypto. My trust level in the bank has decreased greatly during the current covid situation.

[Imran232]

In the trust case both are safe according to me. Look as a bitcoinre and according to my research it is most potential assets ever world seen. And in  this case it has most trust worthy in crypto world. So we can trust it easily and we can say blindly. And now bank well we don't have to say how much needed the bank is. If we need a security of money, if we don't need any tax issue then bank is must needed. And for our money safty and transaction safty bank has no alternative. So in that case both are safe from their own position or own side.

[temple]

I believe banks to be the primary infrastructure development platform for all forms of financial services. Maybe there is flaws, but they've made the financial system operate in a way to make things easier. Even before the existence of banks people are well aware of savings, transaction and exchange, but the banking process made things in an organised manner. This has made me believe on banking for some extent.

Why one should trust BTC?

It is an advancement to the bank. People are independent and when we think of financial freedom we aren't in such a level. This can be achieved through the usage of Bitcoin. For this reason and the same being limited in number makes a demand for it and avoid the inflation. This makes me trust completely on bitcoin even though it is much of a risk asset.

That's correct, but they have also set up the infrastructure in a way such that they are benefitting from whatever you do with your bank account while they don't have any extra work no matter the number of transactions or actions you do. This changed a good bit since more regulatory requirements were introduced due to crises. They pay a lot for regulatory and legal expertise, but it is still the same that they didn't really innovate for decades yet prices for customers are increasing constantly.

[ninkdwi]

At the moment I have to trust the bank. Because within the scope of the law, it protects the safety of my funds. But I don’t believe it completely. I turned part of my assets into Bitcoin. I can switch freely when my friends need funds without being regulated by the country and bank regulations.

if you can do both, why should you choose one because both have their own advantages and disadvantages, because basically I think both have their own benefits and are very beneficial both in daily life and in the future.
because fiat still dominates in social life so like it or not we have to follow so as not to be clumsy in real life, on the other hand bitcoin is one of the investment tools for a bright future that we can take advantage of from now on

[germsite]

At the moment I have to trust the bank. Because within the scope of the law, it protects the safety of my funds. But I don’t believe it completely. I turned part of my assets into Bitcoin. I can switch freely when my friends need funds without being regulated by the country and bank regulations.

if you can do both, why should you choose one because both have their own advantages and disadvantages, because basically I think both have their own benefits and are very beneficial both in daily life and in the future.
because fiat still dominates in social life so like it or not we have to follow so as not to be clumsy in real life, on the other hand bitcoin is one of the investment tools for a bright future that we can take advantage of from now on

Banks started out similarly. It was not like they were the safest place to store your money right from the beginning. There was accounting fraud in the early days and even today. There was forgery and theft and so on. Over time they developed into a safe place with supervision from yet another institution, namely auditing. Bitcoin will need development on many fronts, and in particular when it comes to wallet practicability and security. Give it some time and we will see more and more people feel comfortable enough to take the risk that then might still be left.

[AakZaki]

Crash? I dont think so because this is a thing that we've been using since ages and there's no way that it would be replaced that easily just because a new payment system had surfaced?
~snip~

It took a long time, to be able to make Crypto the money of the future. In addition, a worldwide agreement is needed if the legalization is carried out. Basically because its value is not fixed and it prevents it from becoming a means of payment, because at some point it can harm the recipient. Fiat banknotes will remain a favorite today. This is because they are legal and legal. In addition, traditional communities are still very much using paper money or coins. So Fiat will not be destroyed as long as crypto has not become a legal tender in the world.

[shield132]

Trust what? A currency? Which one? The one who is under the government's control or the one who was 60K yesterday and is 30K today. You can't trust any currency that's valued in USD. If you trust Bitcoin, then it automatically means that you trust USD/fiat because bitocoin's value is determined in USD and every time you have to pay for something, you always pay the BTC amount equal of a certain USD.

I would just say that Bitcoin or most of the cryptocurrencies are just safer alternative to store money in case there is something wrong happening around you. Government, etc, can seize your bank's account and your home but they can't seize the Bitcoins that you have stored in online or offline wallet, somewhere.

[nhaila]

In fact, people will believe all the currencies that are measured in dollars. Because Bitcoin is measured directly in dollars. You can even reserve your money in the bank as a dollar or fiat. You have to calculate your assets in Fiat currency. So bitcoin not Fiat is the main sign of your wealth.

[Quidat]

In fact, people will believe all the currencies that are measured in dollars. Because Bitcoin is measured directly in dollars. You can even reserve your money in the bank as a dollar or fiat. You have to calculate your assets in Fiat currency. So bitcoin not Fiat is the main sign of your wealth.

This is true and if we do really think of on where bitcoin do really get its value then its on fiat itself which means people would still end up on using fiat in the end of the day.
Bitcoin turns out to be store of value on where most people been thinking of this way and when it comes to trust then we do trust up bitcoin but people would normally be going
back to conversion to fiat since bitcoin isnt still a main currency where you can spend and use it everywhere.So its normal that people would still stick out to fiat.

[Mr.sprin]

why choose, aren't bitcoin and fiat as important as fiat is important for daily transactions and bitcoin is more precisely used as an asset for the future so in my opinion to choose between bitcoin and fiat depends on the holder whether to invest or to spend for basic needs.

[drwoo]

In fact, people will believe all the currencies that are measured in dollars. Because Bitcoin is measured directly in dollars. You can even reserve your money in the bank as a dollar or fiat. You have to calculate your assets in Fiat currency. So bitcoin not Fiat is the main sign of your wealth.

This is true and if we do really think of on where bitcoin do really get its value then its on fiat itself which means people would still end up on using fiat in the end of the day.
Bitcoin turns out to be store of value on where most people been thinking of this way and when it comes to trust then we do trust up bitcoin but people would normally be going
back to conversion to fiat since bitcoin isnt still a main currency where you can spend and use it everywhere.So its normal that people would still stick out to fiat.

That shows how powerful the dollar actually is. Whatever you would use to buy something, the seller would check what the value in USD is for whatever you use for payment. It's a remarkable position the United States is in due to the fact that there currency is the world or reserve currency.

[XUNing]

Bitcoin itself is relatively trustworthy. After realizing its value and accepting this new system, Bitcoin has more revenue opportunities. It can also provide services and store data.
I believe that Bitcoin is the future development trend, and it still has a long way to go before the global adaptation.

[Chato1977]

I am a practical person that's why i choose to Invest on both , I have investment in Stocks exchange , In crypto Currencies and also have my funds in Time deposit in banks.

In these segregation i felt more comfortable and secure for my self and my family's future.

[ropyu1978]

Indeed, many of us now still believe in banks, and there are still many who keep their money in banks, because banks are controlled by the government, because everyone who is in control by the government, our people feel comfortable, even though there is a risk they are not afraid, if bitcoin most of all people are made into assets,, because not many countries accept bitcoin as a legal digital currency, we hope that in the future bitcoin can be equivalent to fiat currency,

[Zilon]

You can't have a system who provides open source to it's users and decide to trust a centralized management system. I would rather trust any decentralized system that operates on the blockchain network than trust the centralized traditional banking system that only gives me access to what the feel I should know about my transactions restricting me from partaking in the system directly compared to Bitcoin that isn't centralized but rather operate on a peer to peer software and cryptography.

[lepbagong]

why choose, aren't bitcoin and fiat as important as fiat is important for daily transactions and bitcoin is more precisely used as an asset for the future so in my opinion to choose between bitcoin and fiat depends on the holder whether to invest or to spend for basic needs.

maybe in general what you say can be said that bitcoin and fiat are equally important, I agree with that. although maybe its use and form are very different because bitcoin does not have a form while fiat is still in shape but its use is clearly the same, it can be used as a trade and exchange with what we need.

but the two are so different that it is appropriate not to make comparisons but rather to support each other. where of course there is a shortage of fiat and bitcoin can work there and vice versa if fiat is not able to do then bitcoin will be able to solve it. This is clearly a much-needed cooperation between the two.

[kakonlin]

Fiat Banks is good, but our money has no interest. While every year inflation occurs. That's why I prefer bitcoin, apart from being flexible and fast. Bitcoin value continue to rise if we keep a long time.

[Shasha80]

why choose, aren't bitcoin and fiat as important as fiat is important for daily transactions and bitcoin is more precisely used as an asset for the future so in my opinion to choose between bitcoin and fiat depends on the holder whether to invest or to spend for basic needs.

maybe in general what you say can be said that bitcoin and fiat are equally important, I agree with that. although maybe its use and form are very different because bitcoin does not have a form while fiat is still in shape but its use is clearly the same, it can be used as a trade and exchange with what we need.

but the two are so different that it is appropriate not to make comparisons but rather to support each other. where of course there is a shortage of fiat and bitcoin can work there and vice versa if fiat is not able to do then bitcoin will be able to solve it. This is clearly a much-needed cooperation between the two.

I agree it's best not to compare fiat and Bitcoin, because I agree the existence of the two is very important and can complement each other.
As fiat is needed for small transactions, and areas that do not yet have internet access are in dire need of fiat to conduct financial transactions.
While Bitcoin can be an alternative to sending money abroad, which is faster and cheaper than fiat. Bitcoin is also very good as a store of value
compared to fiat, the conclusion is either fiat or Bitcoin has advantages and disadvantages. So it is better that fiat and Bitcoin co-exist.

[just_Alice]

I don’t trust banks majorly because of the way they function. I’d like to know that whenever I put my money on a bank account it’s going to stay there, but the idea of my money circulating and being used for other purposes makes it look like an unsafe place.

Certain miscalculations and greed, that makes banks lure customers into taking loans may result in bankruptcy, and your money will be gone just like that.

I’m okay with receiving a salary via bank and storing the monthly allowance there, but I most certainly won’t store there my savings. For that purpose, I have much more trust in Bitcoin.

[Charot12345]

At the moment I have to trust the bank. Because within the scope of the law, it protects the safety of my funds. But I don’t believe it completely. I turned part of my assets into Bitcoin. I can switch freely when my friends need funds without being regulated by the country and bank regulations.

In some point you are right. Many people used BTC then switch when they need to.  
It was decentralized and BTC fluctuates.
But they are useful in many ways so even though we can't trust them we need to take a risk on it.