Bitcoin is more real than money in the Bank

[randegibran]

indeed this comparison is not a suitable answer to give a statement that bitcoin is more real, because this is only crypto but in terms of security it is very appropriate to admit that crypto has a very relatively high level of security compared to bank storage, because of this more stringent in terms of security, if the bank is very easy to break by evil people who intend to harm the user

[Gcrypto786]

Few years after forcing everyone to take their gold to the bank, the US president, Nixon in 1971 stopped everyone from having the right to convert their gold to fiat. Isn't that stealing? Government resent bitcoin because they can't control it like they did in 1971. Very soon, it will be illegal to own bitcoin in some countries, not because bitcoin is bad, but because bitcoin gives you the power to own your money. Bitcoin is more real than your money in the bank. Be your own bank by investing and learning about bitcoin.


https://www.federalreservehistory.org/essays/gold-convertibility-ends

In the earlier time Gold is the medium used for trading, exchanges etc, now almost many countries take over the gold as they know that Fait a paper money can be discontinued anytime in the future and it will be soon take over the digital currency or gold.

[clint25n]

if.it is.to be more real it is.not that good, because bitcoin also still has many shortcomings.that are not.easily understood.by laymen.who are not deep.in the crypto world, maybe if.banks are almost generally used by everyone, even though their uses.are also the same.for storing.our money is.better as we save it as usual, but.if bitcoin can.be adopted.by all countries.maybe it will be more realistic.for us to say that bitcoin is.better than banks for us to save our money well

[germsite]

I am trying to understand what you mean. Real in your perspective looks like "controlling it". I don't know if it is a proper term or not, but as Bitcoin is decentralized, it cannot be controlled by anyone or any institution. What the US president did in 1971 may be caused by an urgent matter, so we can understand it. This has a pro and contra side. The government can easily control national finance with a centralized system. But this also gives an opportunity for manipulation by the government itself. While for a decentralized Bitcoin will be difficult to handle by the government in an urgent situation. But it is more transparent for society. Both have advantages and disadvantages.

We shouldn't rule out the possibility that Bitcoin can be manipulated, it could be as well of course. Rich people could bribe the miners, just one example. Bitcoin is still important because it offers anyone an exit option from the system he or she is currently residing in. That alone has tremendous value and means competition to nation states.

[Wakate]

Few years after forcing everyone to take their gold to the bank, the US president, Nixon in 1971 stopped everyone from having the right to convert their gold to fiat. Isn't that stealing? Government resent bitcoin because they can't control it like they did in 1971. Very soon, it will be illegal to own bitcoin in some countries, not because bitcoin is bad, but because bitcoin gives you the power to own your money. Bitcoin is more real than your money in the bank. Be your own bank by investing and learning about bitcoin.


https://www.federalreservehistory.org/essays/gold-convertibility-ends

This is true and the government will keeping fighting against the use of Bitcoin. The government are always looking for ways to control money and people's assets but now it's difficult for them to know everything about us and how much we have since bitcoin is not linked to the bank or identification system.

[Viscore]

Few years after forcing everyone to take their gold to the bank, the US president, Nixon in 1971 stopped everyone from having the right to convert their gold to fiat. Isn't that stealing? Government resent bitcoin because they can't control it like they did in 1971. Very soon, it will be illegal to own bitcoin in some countries, not because bitcoin is bad, but because bitcoin gives you the power to own your money. Bitcoin is more real than your money in the bank. Be your own bank by investing and learning about bitcoin.


https://www.federalreservehistory.org/essays/gold-convertibility-ends

This is true and the government will keeping fighting against the use of Bitcoin. The government are always looking for ways to control money and people's assets but now it's difficult for them to know everything about us and how much we have since bitcoin is not linked to the bank or identification system.

Having bitcoin on our own wallet is like having our money on our own bank. So its very clear that the government cannot have the full access of our own assets and this is the reason why they are all against with bitcoin and all related crypto transactions. As long as we have the private keys we personally kept, then thl be government has nothing to do with it.

However, this is a positive thing on our part but for the side of the government, i think this will be a big barrier in achieving fast adoption of crypto worlwide.

[taufik0911]

Bitcoin is real money, that's very true
because the medium of exchange that is currently Fiat is controlled by a group of people and manipulated in such a way to gain profit
other than that my opinion is the price of physical fiat is not equivalent to its value
fiat is nothing more than a piece of paper that is valued differently than bitcoin or any cryptocurrency that determines the price is everyone and the market

[Silberman]

in my opinion BTC is a currency no one can control that's why some governments hate BTC because BTC created for you to have financial freedom not being controlled by them. and they are not managed to collect any taxes or profits from the regular currency transactions they manage.

Most people don't realize this and therefore, they think banks are more safe than crypto currencies. What they don't realize is how the inflation is making their purchasing power less with every passing day. If you hold bitcoin, you will become rich overtime.

Most people do not know anything about the economy which is why this still happens, they think that the politicians know what they are doing and in a way they are right but not on the way they think, politicians take advantage of the position they are in to take advantage of the people, bitcoin is a direct response to this and this is why many politicians hate it as they see there is not an easy way for them to destroy it and with each day that passes bitcoin is getting stronger.

[raisajahan]

I would like to tell that bitcoin is not real than money in the bank because we always prefer bank as a secure transaction and saving purpose but in the meantime bitcoin is going to take part a role in the global financial world. Already a vast people are going to use bitcoin in the global transaction which is less time consuming and costly than bank. If we have a large amount of bitcoin in my wallet i can transfer it any time but in banking channel i have to maintain some procedure for transferring my fund. One the other hand if i store bitcoin in my wallet it will increase value automatically after increasing price of bitcoin. So i think bitcoin is more valuable than money in the bank.   

[Semar Mesem]

Few years after forcing everyone to take their gold to the bank, the US president, Nixon in 1971 stopped everyone from having the right to convert their gold to fiat. Isn't that stealing? Government resent bitcoin because they can't control it like they did in 1971. Very soon, it will be illegal to own bitcoin in some countries, not because bitcoin is bad, but because bitcoin gives you the power to own your money. Bitcoin is more real than your money in the bank. Be your own bank by investing and learning about bitcoin.


https://www.federalreservehistory.org/essays/gold-convertibility-ends

The thing that makes anyone interested in using bitcoin is anonymity, security and of course full control, this is not in fiat which is too dependent on the bank when making transactions. the other side that makes banks afraid of bitcoin, of course, is that there is no need for storage services such as administrative fees at the bank.

[ropyu1978]

bitcoin is more real than fiat money but in my opinion for now, bitcoin can't be said to be better than fiat, because bitcoin currency, for now we can't make it to buy goods in supermarkets, even though we know now bitcoin is a very valuable asset and can bring profits which is very large, but bitcoin holders are not equivalent to people holding fiat currency, maybe in the future bitcoin can be equivalent to fiat..

[germsite]

Few years after forcing everyone to take their gold to the bank, the US president, Nixon in 1971 stopped everyone from having the right to convert their gold to fiat. Isn't that stealing? Government resent bitcoin because they can't control it like they did in 1971. Very soon, it will be illegal to own bitcoin in some countries, not because bitcoin is bad, but because bitcoin gives you the power to own your money. Bitcoin is more real than your money in the bank. Be your own bank by investing and learning about bitcoin.


https://www.federalreservehistory.org/essays/gold-convertibility-ends

The thing that makes anyone interested in using bitcoin is anonymity, security and of course full control, this is not in fiat which is too dependent on the bank when making transactions. the other side that makes banks afraid of bitcoin, of course, is that there is no need for storage services such as administrative fees at the bank.

I doubt anonymity is the reason why people use Bitcoin as Bitcoin isn't anonymous. You should know that by now! If they were really looking for anonymity, they would rather use Monero or any other coin with anonymity tech implemented.

[Btcvilla]

in.terms of security.we should.admit that bitcoin is.still very superior to money in.banks which is.not at all easy to break into by others.but for real money bitcoin is.still very far compared.to money in.banks, moreover.there are still many people who store real money in.banks.compared to storage as digital currency in.the bitcoin world, because they do not know about the current bitcoin world

[sheryllmcnulty]

Bitcoin is real till it has this wide range of support from the big tech giants and government. Once their agenda changes, the value will go down swiftly

[Yamifoud]

That is why there should be more and more people adopting bitcoin, especially these merchants and marketplaces so that even if the time comes for the government to intervene to ban the conversion of BTC to fiat money as they did with gold before,  we have many ways to choose from how we use or spend Bitcoin.

Yes, your opinion is correct. Don't let the government adopt bitcoin and then turn it into physical money. This is far from the value of bitcoin as we know it, and will no longer be attractive to be used as a long-term investment with clear benefits if handled by a different government. Its value will be much lower than we ourselves who hold power.

It can't be denied that the Government doesn't want a decentralized market. However, many had accepted it, and instead, they give their support now.
But somehow, I have to disagree that Bitcoin is more real than fiat money because whether we like it or not, the majority are still using fiat money compared to Bitcoin as they give more trust to it. Maybe in the future but that still never gives a huge chance if the market remains volatile.

[Pokapoka124]

Bitcoin is real till it has this wide range of support from the big tech giants and government. Once their agenda changes, the value will go down swiftly

I don't quite understand what you are saying. What support from big tech giants are you talking about? MicroStrategy or other institutions buying Bitcoins for reserve isn't exactly supporting. JP Morgan called Bitcoin a scam but is now making bitcoin investment for their clients. Don't even get me started on pump and dump Elon Musk. El Salvador is the only government I know that has publicly endorsed Bitcoin.
I'm really confused with your comment. Are you saying if Bitcoin gets mass adoption it can then be manipulated to price zero?

[Fecofelix]

Bitcoin is an illusion, a mass hallucination, so one hears. It’s just numbers in cyberspace, a mirage, insubstantial as a soap bubble. Bitcoin is not backed by anything other than the faith of the fools who buy it and of the greater fools who buy it from these lesser fools. And you know? Fair enough. All this is true.

What may be less easy to grasp is that U.S. dollars are likewise an illusion. They too consist mainly of numbers out there in cyberspace. Sometimes they’re stored in paper or coins, but while the paper and coins are material, the dollars they represent are not. U.S. dollars are not backed by anything other than the faith of the fools who accept it as payment and of other fools who agree in turn to accept it as payment from them. The main difference is that, for the moment at least, the illusion, in the case of dollars, is more widely and more fiercely believed.
Source ->https://gen-medium-com.cdn.ampproject.org/v/s/gen.medium.com/amp/p/5aef45b8e952?amp_js_v=a6&amp_gsa=1&usqp=mq331AQKKAFQArABIIACAw%3D%3D#aoh=16273210124085&csi=1&referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s&ampshare=https%3A%2F%2Fgen.medium.com%2Fyou-dont-understand-bitcoin-because-you-think-money-is-real-5aef45b8e952

[DOH!]

In the old days, when buying any large appliance, everything was covered with gold.  It is not fiat as it is today, and soon it will be bitcoin and crypto.  While, the whole people are calling for advice before the Covid-19 epidemic situation is causing great damage to people, where is the bank?  Loan interest rate down ??  extension of maturity?  Lol, all my friends at the company I work with have withdrawn almost 70% of their money from the investment bank in bitcoin and crypto.  Yes, we may be unemployed but the initiative to our assets in bitcoin, the bank will soon be isolated!  In the next 5-10 years, the banking system is the most fragile entity.

[AakZaki]

Don't just say "yes it's safer than money in the bank". it's just a baseless statement. What is meant by safe is safe from taxes, safe from admin fees and safe from third parties, because the Bitcoin assets that you hold and store in your own wallet are only you who can use them. But some of the risks that bitcoin has of course you need to know. No one will guarantee that your assets will remain safe in bitcoin, if you lose your assets because of your carelessness, no one will be able to replace them or take responsibility. for money in the bank is still the responsibility of the bank.
Banks and bitcoin both have their advantages and disadvantages. we need everything. use all of them no problem

[Kelvinid]

Few years after forcing everyone to take their gold to the bank, the US president, Nixon in 1971 stopped everyone from having the right to convert their gold to fiat. Isn't that stealing? Government resent bitcoin because they can't control it like they did in 1971. Very soon, it will be illegal to own bitcoin in some countries, not because bitcoin is bad, but because bitcoin gives you the power to own your money. Bitcoin is more real than your money in the bank. Be your own bank by investing and learning about bitcoin.


https://www.federalreservehistory.org/essays/gold-convertibility-ends

It is so sad if that will be going to happen to us. It is just like we have no freedom at all and it means that we have to follow what the government is dictating. We don't force the government to give their support but at least, they will let people have the freedom to invest in Bitcoin since this is not a scam thing that most people are thinking about. May the risk of holding Bitcoin is higher than we put money on the bank but we don't get jealous with that as we can also protect our Bitcoin if we want to.