Bitcoin the HERO we never knew we needed

[Briankimp1]

Bitcoin the hero we never knew we needed
Since the inception of digital currency’s starting with the creation of Bitcoin by Sensei Satochi in January 2009,
We have gradually grown to understand and also explore more ways to use our finances to generate way more profits than the traditional penny’s gotten from the regular banking system.

Prior to this breakthrough we have all been under the control of various central banks owned and controlled by certain groups of people and companies like the Rothschilds in a way a lot of people might not see a problem with this but if we take some time to look into it a bit more you’ll realize the problem.

 Many 2nd and 3rd world countries are subjected to the whims of these central banks because the control the finances of the nation they make ridiculous decisions and force you to go along with them if you choose not to you’ll have to find any means of lending money at probably higher rates from other companies or countries

We all send money from one end to another with the traditional bank as intermediaries between these transactions they charge both sides collect data from the informations given to them these individuals which they can sell to their rich friends in the dark not until the creation of Bitcoin


Then comes the hero in disguise Bitcoin the hero as I call it has made out transactions safe and untraceable keeping both parties anonymous provides more security and also no double pay you only pay a transaction fee while sending funds

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

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[Aanuoluwatofunmi]

Bitcoin the hero we never knew we needed
Since the inception of digital currency’s starting with the creation of Bitcoin by Sensei Satochi in January 2009,

Am i getting something wrong or was it that OP never understand the name to the developer of bitcoin which is Satoshi Nakamoto, seems i will be seeing the one mentioned by OP for the first time.

We have gradually grown to understand and also explore more ways to use our finances to generate way more profits than the traditional penny’s gotten from the regular banking system.

Those that are yet to adopt bitcoin are the ones this your post is applicable to as well as those who mocked the existence of bitcoin since its early days and refuse to give a try, today, we don't need to beg people in realizing the usefulness of bitcoin, instead they are the ones running after to seek for more insight on how they could benefit from this decentralized p2p network.

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

Its possible, but not necessarily now.

[Ruttoshi]

Since the inception of digital currency’s starting with the creation of Bitcoin by Sensei Satochi in January 2009.

Bitcoin was created Satoshi Nakamoto and not Sensei Satochi

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

It is not possible for bitcoin to erase commercial banking sector, because that was not what bitcoin was created for. Bitcoin was created to be an alternative currency to fiat, and not to take over fiat. The volatile nature of bitcoin and the limited supply makes bitcoin not capable to take over from fiat. However, bitcoin is decentralized in nature, making it impossible for government to accept it and get rid of their fiat currency. Fiat is centralized and been controlled by the government, they print more money when they feel like, and use it to manipulate the system.

Bitcoin can only become the number one most profitable investment in future, and investors will see it as safe haven.

[lizarder]

Prior to this breakthrough we have all been under the control of various central banks owned and controlled by certain groups of people and companies like the Rothschilds in a way a lot of people might not see a problem with this but if we take some time to look into it a bit more you’ll realize the problem.

The biggest problem with fiat currency is that it is controlled and we as users do not have the freedom to control it. This system is called a legal transaction tool because we use money to buy. Many people are aware of the problems posed by fiat currencies but have no other option. The presence of bitcoin also does not provide a complete alternative because some countries only allow bitcoin as an investment asset, but it has many advantages so people are competing to invest.
 

We all send money from one end to another with the traditional bank as intermediaries between these transactions they charge both sides collect data from the informations given to them these individuals which they can sell to their rich friends in the dark not until the creation of Bitcoin 

It's the same as when we send bitcoin and a fee is also required, but the difference is that personal information will be much more secure if people don't do KYC. Bitcoin can be run anonymously and is much safer for users so we have much more control. This advantage is what makes Bitcoin a new system that can provide a better level of privacy than previous systems.

[DanWalker]

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

Its possible, but not necessarily now.

In your opinion, this could happen. So how and in what way will it happen? Also, if I remember correctly, Satoshi did not mention this in the bitcoin's whitepaper nor did he intend to create bitcoin to replace the current currency or banking system.

It seems like you are overvaluing and exaggerating bitcoin if you think it can wipe out the commercial banking sector. By the way, I think because of these unnecessary exaggerated thoughts, the government had a negative view of bitcoin in the early days, they thought that because it was created to wipe out fiat, wipe out the banking system they created it, so they banned bitcoin.

[TheUltraElite]

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

No and the answer is no always.

The same question has been asked many times in this forum. Banking system and bitcoin might seem to be opposite of one another but we cannot survive without the banks because the economy is intimately connected to it and remote from bitcoin. Unless something huge happens bitcoin is not going to become the "cash" of the economy but fiat will.

Maybe in the next 100years, drastic shift will happen, but we can only speculate on that.

The more likely scenario is that bitcoin and banks working hand in hand to maintain a much evolved economy.

[KiaKia]

Since the inception of digital currency’s starting with the creation of Bitcoin by Sensei Satochi in January 2009.

Bitcoin was created Satoshi Nakamoto and not Sensei Satochi

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

It is not possible for bitcoin to erase commercial banking sector, because that was not what bitcoin was created for. Bitcoin was created to be an alternative currency to fiat, and not to take over fiat. The volatile nature of bitcoin and the limited supply makes bitcoin not capable to take over from fiat. However, bitcoin is decentralized in nature, making it impossible for government to accept it and get rid of their fiat currency. Fiat is centralized and been controlled by the government, they print more money when they feel like, and use it to manipulate the system.

Bitcoin can only become the number one most profitable investment in future, and investors will see it as safe haven.

Lol, you don't get it, he knew the Bitcoin creator's full name but saying sensei means master satoshi, he is just hyping the whole thing up.

I think that till the end of time, banking system and bitcoin can never walk on the same path, the banking system is free to make money off bitcoin in their own way but Bitcoin is not created to replace any centralized gap.

Not the banking system, not the centralized money or fiat, unless there comes a way where centralized entities are neutralised, which is not possible.

The government can only be either friendly with what they can control or what they can make money from, problem is they can't find their way with Bitcoit's its why I called it the first innovation that works as intended without the approval of the centralized authorities.

[harapan]

Since the inception of digital currency’s starting with the creation of Bitcoin by Sensei Satochi in January 2009.

Bitcoin was created Satoshi Nakamoto and not Sensei Satochi

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

It is not possible for bitcoin to erase commercial banking sector, because that was not what bitcoin was created for. Bitcoin was created to be an alternative currency to fiat, and not to take over fiat. The volatile nature of bitcoin and the limited supply makes bitcoin not capable to take over from fiat. However, bitcoin is decentralized in nature, making it impossible for government to accept it and get rid of their fiat currency. Fiat is centralized and been controlled by the government, they print more money when they feel like, and use it to manipulate the system.

Bitcoin can only become the number one most profitable investment in future, and investors will see it as safe haven.

Apparently,bitcoin will continue to erase the bad experiences and sad evolutions that we've all gotten from traditional banking.Some time ago,a currency was established and this currency was called Bitcoin and it promised to revolutionize the world of finance with its features and opportunities that is will render.The truth be told,bitcoin has not failed in this promise.Bitcoin has provided financial freedom and independence compared to the traditional banking systems.
Bitcoin indicates freedom,independence,financial security and its a big innovation for the society.

[Zlantann]

Prior to this breakthrough we have all been under the control of various central banks owned and controlled by certain groups of people and companies like the Rothschilds in a way a lot of people might not see a problem with this but if we take some time to look into it a bit more you’ll realize the problem.

The world's financial system is still highly fiat dominated, therefore it is too early to conclude that Bitcoin has dismantled centralization. Bitcoin adoption is still low but our expectation is that in future Bitcoin will be able to act as a viable alternative to fiat in many nations.
 

Many 2nd and 3rd world countries are subjected to the whims of these central banks because the control the finances of the nation they make ridiculous decisions and force you to go along with them if you choose not to you’ll have to find any means of lending money at probably higher rates from other companies or  8)countries

World Bank and other international lending organizations have not started issuing loans in Bitcoin, it is stlll in fiat currencies. Even El Salvador that has legalize Bitcoin still access loans from these organization through fiat. So Bitcoin has little role on how nations take loans and the conditions they are subjected to.

We all send money from one end to another with the traditional bank as intermediaries between these transactions they charge both sides collect data from the informations given to them these individuals which they can sell to their rich friends in the dark not until the creation of Bitcoin

Then comes the hero in disguise Bitcoin the hero as I call it has made out transactions safe and untraceable keeping both parties anonymous provides more security and also no double pay you only pay a transaction fee while sending funds

Privacy is on advantage Bitcoin has over other currencies. But one must learn  how to enjoy it by avoiding centralised platforms and anonymity services.

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

Bitcoin will always be an alternative to Fiat and I don't think it was created to replace the fiat system.

[eb66]

It's the same as when we send bitcoin and a fee is also required, but the difference is that personal information will be much more secure if people don't do KYC. Bitcoin can be run anonymously and is much safer for users so we have much more control. This advantage is what makes Bitcoin a new system that can provide a better level of privacy than previous systems.

It's harder and harder to acquire bitcoin without KYC.
The anonymity of bitcoin from p2p exchanges or via mining will become more and more valuable in the future.

[buwaytress]

It's harder and harder to acquire bitcoin without KYC.
The anonymity of bitcoin from p2p exchanges or via mining will become more and more valuable in the future.

Mmm, I'd say it's actually easier -- you couldn't use anything but Localbitcoins or similar just 5 years ago, unless you got referred to someone or someones by someone else. Or you come on this forum.

Now you've got quite easily the likes of Bisq appearing on Google.

It's easier to get Bitcoin from a CEX now than it is (which always required KYC), easier to find someone to do P2P, easier to get someone to accept you local currency or payment method on that route.

Trading's something else, of course but I think there are many more visible opportunities now than ever (KYC or not).

Bitcoin was created Satoshi Nakamoto and not Sensei Satochi

Lol, you don't get it, he knew the Bitcoin creator's full name but saying sensei means master satoshi, he is just hyping the whole thing up.

Thought I'd be the first to point it out, don't even know Japanese but thought surely most people would have caught on that, or is the word sensei just not as widespread as I'd thought?

[R100K-Martin-Lunger]

One can definitely wish for that, OP! However, I think right now it feels like wishful thinking because established financial institutes won't give up easily plus many are yet to put their trust in crypto until that happens I don't see BTC taking over in its entirety. That said, we can continue to invest smartly in crypto till then. I have been using it and investing in multiple altcoins and btc and have 172% profit today.

[red4slash]

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

That is clearly impossible . We must know that Satoshi not Satochi created bitcoin is not to make this a competition and to replace the existing banking scheme because after all this is only used as a legal payment option which is already clear that it is not to replace but to complement because if at the beginning bitcoin was used as a tool to replace the current banking system then bitcoin would have been banned from the start because it would be considered as an attempt to overthrow what the government currently has so that bitcoin could not replace it at any time because its original purpose was not as a substitute but as a complement . My suggestion for you buddy, you  must try to find out more about bitcoin or the creator of bitcoin so that they don't mention the wrong name like you are doing right now so that in the end it doesn't spread too far in terms of mistakes .

[yudi09]

For who is the creator of Bitcoin, that's not his name but Satoshi Nakamoto.

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

I want Bitcoin as it was created. If Bitcoin cannot be a means of payment for transactions such as payments made using the fiat currency of each country's currency, I don't have a problem with it because indirectly the commercial banking sector has complained a lot and many people feel that the Bitcoin system is more perfect because it doesn't require third party.
We who own Bitcoin, we have full rights.

[coolcoinz]

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

No, I don't think it will.

Decentralized money will never triumph over centralized money, at least not until governments have power over us. Printing gives them power and that power pays for everything they want.

Bitcoin was allowed to exist only because it was largely ignored by those in power until it was too late. They could easily destroy it by 2014 and China actually tried and failed. Now it's almost impossible.
That said, not allowing them to destroy bitcoin and forcing them to give up some power and privileges are two very different things.

[alankasman]

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

Being able to go along with the implementation of Bitcoin in El Salvador is what I want most, but it can't be because the government is still strong with a centralized financial system that can be controlled.
So far and for a period of time that I cannot confirm, my answer is that it will not happen.

Let's make it like this. From a calculation of advantages and disadvantages, the Bitcoin system is better than the commercial banking system. If it is 1 BTC it will still be 1 BTC for the next year and that is not the case with centralized currencies with commercial banking systems.

On this side, people prefer the Bitcoin system which cannot be regulated like a centralized currency. A centralized currency will decrease in value over time. On the basis of the freedom we gain with Bitcoin, it is a concern for these parties, but we cannot be sure that the Bitcoin system will not be able to leave the commercial banking system when the time comes because what we think is impossible can become possible.

[Jay Johanson]

I looked at the title of the thread, but when I started reading I thought it was plagiarism The entire text

Bitcoin the hero we never knew we needed
Since the inception of digital currency’s starting with the creation of Bitcoin by Sensei Satochi in January 2009,
We have gradually grown to understand and also explore more ways to use our finances to generate way more profits than the traditional penny’s gotten from the regular banking system.

Prior to this breakthrough we have all been under the control of various central banks owned and controlled by certain groups of people and companies like the Rothschilds in a way a lot of people might not see a problem with this but if we take some time to look into it a bit more you’ll realize the problem.

 Many 2nd and 3rd world countries are subjected to the whims of these central banks because the control the finances of the nation they make ridiculous decisions and force you to go along with them if you choose not to you’ll have to find any means of lending money at probably higher rates from other companies or countries

We all send money from one end to another with the traditional bank as intermediaries between these transactions they charge both sides collect data from the informations given to them these individuals which they can sell to their rich friends in the dark not until the creation of Bitcoin


Then comes the hero in disguise Bitcoin the hero as I call it has made out transactions safe and untraceable keeping both parties anonymous provides more security and also no double pay you only pay a transaction fee while sending funds

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

[btc78]

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

This is a tricky question. It would all depend on how you see the future.

If I am being hopeful, yes maybe there will come a day where the government will finally allow the use of bitcoin everywhere and stop pushing centralized banks. On the other hand, If we were to be realistic I think not all governments can join in with the adoption of bitcoin globally.

If we want to live in a society without banks, we’d have to live without a government.

[yhiaali3]

At the moment it is very difficult, Bitcoin is still in the growth stage and has not yet matured to be able to replace the old system.

We have said this several times. Bitcoin in its current state is unable to accommodate the huge number of daily transactions. If the global adoption of Bitcoin occurs and it becomes a global system used by all countries, there will be millions of transactions daily, and the Bitcoin network in its current state is unable to accommodate this large number.

Of course, in addition to the main problem, which is that governments will not allow decentralization to prevail.

[Ojima-ojo]

If you read through the Bitcoin white paper, you will know and have seen where santoshi nakamoto mentioned that Bitcoin should be allowed to develop organically, this is the most important thing to note in all of the discussions, as related to Bitcoin a d how it impact have been in terms of growth and development.


Let give the Bitcoin project some time to evolved, this way we can properly understand and take caution when we see some occurrence in the market.