Bank vs Crypto: Are they opposites?

[BALIK]

Both banks and crypto are financial engines that makes every monetary implementation and project possible. Why could there possibly be a conflict between both or in this instance classed as opposites?

Government is mostly making a lot of noise about crypto because of some scam projects that have proved unreliable with crashing or freezing of accounts and money laundering activities. All they want is to tax, monitor and control Crypto.
If they succeed, then we would see how both entities would exist in physical proximity and relational services.

I wouldn't want any mention of crypto for Bitcoin. Their business continues to maintain their desire not to use Bitcoin and still thinks that Bitcoin is bad because of money laundering activities or other illegal acts. For me, Bitcoin will have no effect on sustainability until they really realize that Bitcoin is a system that can be a solution in transactions.

We spend too long rhetoric about banks and governments being anti-Bitcoin or those who are pro-crypto which can be controlled by them, which will not provide good benefits for us here because banks are not transparent in managing our funds. They use their savings to make a profit. Bitcoin does not. As for other cryptos, it's up to them.

Well, you're blaming the bank for using your money to make a profit? So I want to ask, do they force you to give them money? Or do you voluntarily and agree to give them the money to get that small profit back? They are just a business, and they need profits to survive, if you know that they are taking advantage of you, stop using their services. Just like when you go shopping, you know the store's prices are very high compared to other stores but you still buy and is it your fault or the store's fault? As for me, I'm still using both in different situations so I don't want to badmouth or compare them.

[G_Besar]

Let's get something clear here guys, banks are the custodians of fiat (government approved currency ) while cryptocurrencies are digital currencies which transactions are recorded, verified and maintained by decentralized system using cryptography. Therefore cryptography can be liken to a digital bank.
The reason why most people might prefer fiat or rather commercial bank for their savings to cryptography is its volatility. However both serve almost the same purpose; medium of exchange for goods and services.

Your explanation is quite direct in this regard because you have also explained the differences between the two and the similarities between the two through almost similar goals. However, over time, most people have also chosen cryptography for their investment, although they also do not stay away from conventional banks because they may still be needed to store some of their fiat. But as for the problem of using both of them, I personally still use them very often because up to now there have been no problems that have prevented me from continuing to use both of them.

[hafiztalha]

Let's get something clear here guys, banks are the custodians of fiat (government approved currency ) while cryptocurrencies are digital currencies which transactions are recorded, verified and maintained by decentralized system using cryptography. Therefore cryptography can be liken to a digital bank.
The reason why most people might prefer fiat or rather commercial bank for their savings to cryptography is its volatility. However both serve almost the same purpose; medium of exchange for goods and services.

Your explanation is quite direct in this regard because you have also explained the differences between the two and the similarities between the two through almost similar goals. However, over time, most people have also chosen cryptography for their investment, although they also do not stay away from conventional banks because they may still be needed to store some of their fiat. But as for the problem of using both of them, I personally still use them very often because up to now there have been no problems that have prevented me from continuing to use both of them.

I am using both bank and cryptocurrency.I think everyone use bank account because anyone who want to invests in crypto uses a bank to receive thier investment in cash or another account .And when it becomes to volatility , cryptocurrency is more much volatile than bank.By investing in bank, you get fixed profit and by investing in cryptocurrency, the more profit you can get and also the more risk you may face and your investment will become zero.I think we should use bank for saving and use cryptocurrency for investment.

[Ojima-ojo]

Let's get something clear here guys, banks are the custodians of fiat (government approved currency ) while cryptocurrencies are digital currencies which transactions are recorded, verified and maintained by decentralized system using cryptography. Therefore cryptography can be liken to a digital bank.
The reason why most people might prefer fiat or rather commercial bank for their savings to cryptography is its volatility. However both serve almost the same purpose; medium of exchange for goods and services.

Your explanation is quite direct in this regard because you have also explained the differences between the two and the similarities between the two through almost similar goals. However, over time, most people have also chosen cryptography for their investment, although they also do not stay away from conventional banks because they may still be needed to store some of their fiat. But as for the problem of using both of them, I personally still use them very often because up to now there have been no problems that have prevented me from continuing to use both of them.

The truth is that, cryptocurrency and banks may ve direct opposites and their comparison may be unrealistic better we compare banks to blockchain technology since both of them deals with ledger and balance opening and closing.


And wherever we want to make any comparison it should be between cryptocurrency and other traditional currencies or cryptocurrencies against other assets in its class such as gold stock and the rest.

[Quidat]

Let's get something clear here guys, banks are the custodians of fiat (government approved currency ) while cryptocurrencies are digital currencies which transactions are recorded, verified and maintained by decentralized system using cryptography. Therefore cryptography can be liken to a digital bank.
The reason why most people might prefer fiat or rather commercial bank for their savings to cryptography is its volatility. However both serve almost the same purpose; medium of exchange for goods and services.

Your explanation is quite direct in this regard because you have also explained the differences between the two and the similarities between the two through almost similar goals. However, over time, most people have also chosen cryptography for their investment, although they also do not stay away from conventional banks because they may still be needed to store some of their fiat. But as for the problem of using both of them, I personally still use them very often because up to now there have been no problems that have prevented me from continuing to use both of them.

The truth is that, cryptocurrency and banks may ve direct opposites and their comparison may be unrealistic better we compare banks to blockchain technology since both of them deals with ledger and balance opening and closing.


And wherever we want to make any comparison it should be between cryptocurrency and other traditional currencies or cryptocurrencies against other assets in its class such as gold stock and the rest.

There's always that main differences but doesnt mean that they cant really be able to collaborate but of course there would really be always that fine line in between about their main differences.
Banks are heavily centralized on which it would really be just that so normal that they would really be getting in line with government rules and conditions on which it would really be just that so right
that you would really be that following on what government been mandating and knowing banks function then everything could be traced and control which is really that totally opposite when dealing up with crypto and this what makes things even more interested for some people who do really give out value when it comes to anonymity or simply that being decentralized. Interest would really be totally different to each person or investor but generally speaking, who doesnt really love on dealing with things which could protect out their privacy? This is why crypto did make or get that much traction and attention just because of this main characteristic or benefits and this is really that preferred.

[aylabadia05]

[snip]

Well, you're blaming the bank for using your money to make a profit? So I want to ask, do they force you to give them money? Or do you voluntarily and agree to give them the money to get that small profit back? They are just a business, and they need profits to survive, if you know that they are taking advantage of you, stop using their services.

I know they do it so they can pay their employees and make business-like profits.
In this context I don't want to blame them, as long as they can still be trusted then go ahead. In terms of actual profits, it is not that big for me personally if I use them as a place to store fiat money. Just a few percent interest which in my opinion will not be balanced with the return when Bitcoin passes the purchase price in a matter of years.

Just like when you go shopping, you know the store's prices are very high compared to other stores but you still buy and is it your fault or the store's fault? As for me, I'm still using both in different situations so I don't want to badmouth or compare them.

Of course, I always avoid saving money in banks even though I still need them to make withdrawals when I exchange into fiat currency considering that my country does not legalize bitcoin as a transaction tool.
I haven't had any fiat currency balance in my account except for a few for daily needs when my savings at home are empty.