"Be your own Bank with Bitcoin" - A reminder why this is so important!

[Silberman]

All of what you said is true, however we must recognize that not everyone is ready to be their own bank, in fact that is the very reason why banks exist at all, people were not ready to take care of their gold and to protect it, and as such at the beginning banks were created with the idea of helping people to protect their savings, but since then the idea of banks has been completely distorted and now they manage the money that you deposit with them as it was their own money to the point they can even steal your money legally, and with this in mind it is not surprising that people like us have done our best effort to try to look for alternatives.

My dad still puts his money into saving accounts when he has any, that should tell you what it means to have some people using banks.

I have been in crypto but there are a lot of things that you could with your money between investing into a savings account with a very low interest rate that will lose your moneys value, and bitcoin, and he doesn't do any of them neither, he just puts it in a bank. That’s why I believe that we should be focusing on something that would be more profitable, and banks will not give you that. Look at what banks do with your money, that will surely be more profitable for you in the long run as well and that’s how you should use it.

Most people are like that, anything other than putting the money in a bank is something they think is too risky, and who has pushed for such behavior for a very long time? Banks of course, as this plays in their favor, however anyone that knows enough about the economy to understand how inflation works will probably never do something like this, as your wealth is eroded by the government as they print more and more money.

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[|MINER|]

It is true that Bitcoin or crypto currency has saved us from being controlled by banks.  Moreover, in the era of technology, there is no respite without crypto currency. But you have to keep in mind that there are risks like Bitcoin's highly volatilities is a big reason, but there are ways to use stable coins for this, moreover you can make stable coins usdt or busd savings at 8% APR on Binance Exchange.

[jostorres]

It is true that Bitcoin or crypto currency has saved us from being controlled by banks.  Moreover, in the era of technology, there is no respite without crypto currency. But you have to keep in mind that there are risks like Bitcoin's highly volatilities is a big reason, but there are ways to use stable coins for this, moreover you can make stable coins usdt or busd savings at 8% APR on Binance Exchange.

I would say that if you are using binance exchange for stablecoin staking then you are going to be doing similar to what you do with fiat as well. I am not saying that it would be a smart idea to keep your money in fiat, on contrary I am saying keeping it in fiat is so silly and foolish that you shouldn't even consider BUSD or USDT neither, because they are one to one pegged to fiat as well.

It's much better to keep it in bitcoin, because it might be volatile and looking bearish right now, but look at the potential of it and how high it could get. That should show you that it could end up with a much higher price and get you out of poverty and put you into wealth.

[Silberman]

It is true that Bitcoin or crypto currency has saved us from being controlled by banks.  Moreover, in the era of technology, there is no respite without crypto currency. But you have to keep in mind that there are risks like Bitcoin's highly volatilities is a big reason, but there are ways to use stable coins for this, moreover you can make stable coins usdt or busd savings at 8% APR on Binance Exchange.

I think it is undeniable that there is a big risk involved for anyone thinking on investing in bitcoin for the short term, however I think the risk is worth taking, after all what other options do we have available? Remaining in fiat is not an option due to the high inflation, the stock market and the real estate market are overvalued as well, gold has not performed well either, so it is not like we have a lot of options in which we can invest our money and get good profits during the next years.

[Davian144]

It is true that Bitcoin or crypto currency has saved us from being controlled by banks.  Moreover, in the era of technology, there is no respite without crypto currency. But you have to keep in mind that there are risks like Bitcoin's highly volatilities is a big reason, but there are ways to use stable coins for this, moreover you can make stable coins usdt or busd savings at 8% APR on Binance Exchange.

Getting out of bank control is clearly still very possible for anyone in this modern era. But cryptocurrency and Bitcoin activists still have to be close to the bank and also have to have a bank account when they want to withdraw money for the needs in their respective lives. Because Bitcoin and cryptocurrencies still cannot be used for everything in all countries (except only countries that have fully legalized Bitcoin) only those who can distance themselves from the Bank.

[Baofeng]

It is true that Bitcoin or crypto currency has saved us from being controlled by banks.  Moreover, in the era of technology, there is no respite without crypto currency. But you have to keep in mind that there are risks like Bitcoin's highly volatilities is a big reason, but there are ways to use stable coins for this, moreover you can make stable coins usdt or busd savings at 8% APR on Binance Exchange.

I think it is undeniable that there is a big risk involved for anyone thinking on investing in bitcoin for the short term, however I think the risk is worth taking, after all what other options do we have available? Remaining in fiat is not an option due to the high inflation, the stock market and the real estate market are overvalued as well, gold has not performed well either, so it is not like we have a lot of options in which we can invest our money and get good profits during the next years.

And that is the main reason why we wanted to invest on bitcoin, the big risk involved For some maybe they can't stomach it especially when we are in bear market. But everything chances when we goes on bull run. Of course the old adage of be your own bank is with bitcoin since the beginning. And it's up to us how to make it and used it to our advantage. Keep your private key, do not let everyone know. As long as you have security hygiene and good practice, then continue to accumulate and buy bitcoin in your wallet.

[Raflesia]

It is true that Bitcoin or crypto currency has saved us from being controlled by banks.  Moreover, in the era of technology, there is no respite without crypto currency. But you have to keep in mind that there are risks like Bitcoin's highly volatilities is a big reason, but there are ways to use stable coins for this, moreover you can make stable coins usdt or busd savings at 8% APR on Binance Exchange.

Getting out of bank control is clearly still very possible for anyone in this modern era. But cryptocurrency and Bitcoin activists still have to be close to the bank and also have to have a bank account when they want to withdraw money for the needs in their respective lives. Because Bitcoin and cryptocurrencies still cannot be used for everything in all countries (except only countries that have fully legalized Bitcoin) only those who can distance themselves from the Bank.

Agree with what you said, Actually in this case we can not rule out the bank in any case because indeed we still need it.
Apart from some of the rules that are there, it doesn't actually make us lose that we need a bank even if we hold crypto in hand.
In this case, regardless of whether the country is already running crypto or not, we still cannot rule out banks because the purpose of Crypto, especially bitcoin, is not to get rid of it.

[Quidat]

It is true that Bitcoin or crypto currency has saved us from being controlled by banks.  Moreover, in the era of technology, there is no respite without crypto currency. But you have to keep in mind that there are risks like Bitcoin's highly volatilities is a big reason, but there are ways to use stable coins for this, moreover you can make stable coins usdt or busd savings at 8% APR on Binance Exchange.

Getting out of bank control is clearly still very possible for anyone in this modern era. But cryptocurrency and Bitcoin activists still have to be close to the bank and also have to have a bank account when they want to withdraw money for the needs in their respective lives. Because Bitcoin and cryptocurrencies still cannot be used for everything in all countries (except only countries that have fully legalized Bitcoin) only those who can distance themselves from the Bank.

Agree with what you said, Actually in this case we can not rule out the bank in any case because indeed we still need it.
Apart from some of the rules that are there, it doesn't actually make us lose that we need a bank even if we hold crypto in hand.
In this case, regardless of whether the country is already running crypto or not, we still cannot rule out banks because the purpose of Crypto, especially bitcoin, is not to get rid of it.

Its still relevant, we cant just run solely on total decentralized aspect or system where we do really need up services which are centralized and having that organized manner.
Both things could co-exist and i dont know on why there are people who are really that too optimistic on eradicating banking system or the current fiat one
which we know that it would really exist no matter what.As long government do exist then it is something an impossible thing to happen.
Good thing that on crypto or Bitcoins existence then we do have at least a choice on making ourselves seperate on too much centralization.

[Silberman]

Banking system is created to make us borrowers. We need to borrow for our education, we need to borrow for our marriage, we need to borrow for housing and we need to borrow for education of our children then the same cycle repeats.. is this development. Is this the fruits of our live time hardwork.. than who eats it away... Banks..

We live in a very strange period of time, through history getting a loan was something that very few people did and most of the time those loans were for productive activities like starting a business, but since the fiat system has been implemented there has been a huge change in the way people approach loans, now been indebted through most of your life is something very common, and now people care about something like their credit score, which is nothing more but a number which represents their ability to repay their loans back, which in my opinion is a useless number because what we should do is to try to never live beyond our means and avoid borrowing money as much as possible.

[worldofcoins]

https://www.reuters.com/world/middle-east/woman-holds-up-lebanese-bank-13000-her-own-money-advocacy-group-says-2022-09-14/

" One woman with a gun and some associates briefly held hostages at a branch of BLOM Bank (BLOM.BY) in the capital Beirut, before leaving with more than $13,000 in cash from her account.... "

" Lebanon's banks have locked most depositors out of their savings since an economic crisis took hold three years ago, leaving much of the population unable to pay for basics. "

Let's just imagine this scenario where you have to "rob" a Bank to get access to your own money that you deposited with them. We think these things are impossible, but it is happening and this is a reminder that it does still happen. 

Bitcoin allows you to be your OWN Bank .....and it allows you to have access to your own money, without any intermediary having the power to block it. Just make sure that you have sole access to your Private keys. 

The importance of Bitcoin cannot be neglected in the current ERA, but it cannot completely rule out the importance of FIAT and the banks. The main key factor is decentralized and unregulated status. The majority of people still hesitate to invest in bitcoin. Hence, replacing bitcoin with the conventional system would be much farther away.