Not your keys not your funds Banks

[Mansory22022]

To be honest Banks have liabilities to other bigger banks and instutions If you own funds in bank it's not yours
In the future the new money system should be that at least some amount what you have in bank account for example up to 30k $ you can transfer into your private self custody wallet, i heard that's the plan and yes its needed.
Nowdays i feel like my bank account balance is just numbers and i have no control over it the true wealth i have is cash in my pocket or wallet and the cryptocurrency.
Also Banks hold extra liabilities to other financial instutions and bigger banks and you might have mortgage or car loan with your bank you might think they own it but not If your bank have problems than you might lose your home even you pay mortgage for your home.
The thing is that banks and other debit credit instutions don't expose to customers openly info about how much leverage or risk they have and liabilities what they need to pay to other financial instutions If not they must liquitate their assets.
In times like this you only want to deal with bigger banks and credit /debit instutions.
But i feel that crypto and cash are real money the bank balance on my bank account i feel little sceptical yes banks are safe but still i need that feeling that at least some of my funds are under my own control.

[Darker45]

There seems to be nothing safe in reality. Before, keeping huge sums of money in your house isn't advisable. That's too risky. Your cold cash is difficult to keep. You're exposing it to robbers. You could spend it on useless stuff. Your house could catch fire. There might be flood. Your money could even be consumed by rodents and other pests.

And yet, keeping your money in the banks could mean it could be frozen from you. It could be locked. You might not be allowed to withdraw it indefinitely. Your bank could crash. This goes on.

Keeping your money in gold, real estate, stocks, business, Bitcoin, and so on doesn't mean they're safe either. Perhaps diversifying your money could somehow lessen the risk.

[Plaguedeath]

You only need to check their official sites and download their financial report, so you can know how much their total assets, liabilities and capitals they have. I understand manipulation in financial report is inevitable, but at least you will know if every banks have liabilities, even most of countries in the world also in debt.

Banks isn't a place to protect your money, just hold small amount of money i.e. emergency funds in banks, so you can withdraw whenever you need.

[WillyAp]

There seems to be nothing safe in reality. Before, keeping huge sums of money in your house isn't advisable. That's too risky. Your cold cash is difficult to keep. You're exposing it to robbers. You could spend it on useless stuff. Your house could catch fire. There might be flood. Your money could even be consumed by rodents and other pests.

And yet, keeping your money in the banks could mean it could be frozen from you. It could be locked. You might not be allowed to withdraw it indefinitely. Your bank could crash. This goes on.

Keeping your money in gold, real estate, stocks, business, Bitcoin, and so on doesn't mean they're safe either. Perhaps diversifying your money could somehow lessen the risk.

Yes a negative view destroys all hope.
You should not have all your money in the bank, nor in your house. Just spread it, invest it.

[Kelward]

There's no where that you'll keep your money that it'll be 100% safe, whether it's physical cash, in investment, in the bank or through your wallet, there are robbers, scammers, natural or man-made disasters and bankruptcy can happen, so you'll have to take chances in choosing any option. But I think that one of the safest places to keep your money is in the bank, so far it's a trusted Bank that has built a solid reputation, they won't tell you stories anytime that you want to make withdrawals, the only disadvantage of leaving your money in the bank is if there's devaluation of your local currency.

What I'll advise anybody is not to put all their capital in one place, keep a few as cash at hand, save some in the bank and invest most of it in a reputable asset like Bitcoin.

[DanWalker]

If you feel banks are not safe for your assets, you can simply stop using them. And if you believe in cryptocurrencies, invest all your money in them and enjoy what you consider safe.

To me, nothing is absolutely safe and everything has its own advantages and disadvantages. Because in your opinion, if banks are not safe, how can they exist for hundreds of years and receive the trust of billions of people around the world? If cryptocurrencies are really as perfect as you say, why aren't more people using them to replace banks yet?
Your doubts about banks are not wrong, but there is no need to complicate matters while diversifying assets is the best way we should do. Because nothing here is perfect or absolutely safe.

[Beparanf]

Banks isn't a place to protect your money, just hold small amount of money i.e. emergency funds in banks, so you can withdraw whenever you need.

Totally agree. This is the only reason why I only save an amount on bank that is only covered by the FDIC insurance amount since saving above the FDIC insurance is already considered risky while your money doesn’t get much interest on bank.

It’s better to store in crypto like stablecoins and Bitcoin then Stake it on DeFi to gain passive income greater than the interest offered by banks.

[alastantiger]

Banks do not physically store all deposited funds but instead utilize them for lending and investment purposes, maintaining only a fraction of the deposited amount as reserves. Keeping you money in a bank is a risky idea even though that is how it has been for a long time. There are other options to pick from rather than keeping all of your money in the bank. Rather than keeping all of your money in the bank, invest a portion of it in bitcoin, invest part of it in starting up a business, put some part in stocks or real estate. A $10000 sitting in your bank for 10 years will not give you the same returns as it would if you put invest it in one of the alternated schemes listed above that you understand.

[Oneandpure]

I don't think difference when storing your money in the Bank or cryptocurrency because not your keys is not your coins and not your key is not your fund bank, just difference place only between saving money in the bank or cryptocurrency many way how to scammer try to get scam with your assets. For more security, better prefer with your mobile banking with one mobile phone only without directly with social media account how easily scammer sent you scam site link and get easily with your fund loss. But some time saving money in the Bank the security depend on the Bank worker how easily get access with the costumer data and most of losing money in the Bank in my country did by Bank worker.

For safety, withdraw your all money in the Bank or cryptocurrency and put it in security place at your home, currently its difficult for making more secure money if huge amount.

[dothebeats]

Banks somehow offer you other services when you started an account with them and entrusted them with your funds. It's better compared to keeping cash to yourself. You can buy crypto and keep it yourself provided you know what you're doing, and you're sure that you won't be targeted for your funds. That's your keys and that certainly are your coins. Whatever happens to your funds are your sole discretion.

You can utilize banks for safekeeping and gaining access to other financial services that are otherwise beyond your reach if you decide to keep your funds yourself. Then again, if you really want to be sure that your funds will not be misused and you'd still gain something from it whilst being idle, buying crypto and learning how to safekeep it is one route.

[darkangel11]

It's worse than you think. Banks invest your money and lend it. They buy government bonds with it. If bonds yield is negative or very low, like it is now in the US, banks lose your money.
When the company that borrowed money from the bank loses it, it's your money that is lost. A company can go bankrupt and default on a loan, which means your money is gone. Why doesn't that mean the bank is bankrupt? Because governments want the bank to keep investing in their worthless bonds, so they can't allow the banks to go bankrupt, so they print money and tax all citizens to bailout banks.
It's all one big scam if you want to know my opinion.

[Stepstowealth]

To be honest Banks have liabilities to other bigger banks and instutions If you own funds in bank it's not yours
In the future the new money system should be that at least some amount what you have in bank account for example up to 30k $ you can transfer into your private self custody wallet, i heard that's the plan and yes its needed.
Nowdays i feel like my bank account balance is just numbers and i have no control over it the true wealth i have is cash in my pocket or wallet and the cryptocurrency.
Also Banks hold extra liabilities to other financial instutions and bigger banks and you might have mortgage or car loan with your bank you might think they own it but not If your bank have problems than you might lose your home even you pay mortgage for your home.
The thing is that banks and other debit credit instutions don't expose to customers openly info about how much leverage or risk they have and liabilities what they need to pay to other financial instutions If not they must liquitate their assets.
In times like this you only want to deal with bigger banks and credit /debit instutions.
But i feel that crypto and cash are real money the bank balance on my bank account i feel little sceptical yes banks are safe but still i need that feeling that at least some of my funds are under my own control.

I believe this was what prompted the idea behind the discovery and initiative of the Blockchain network and cryptocurrencies in general and as a note of solidarity, money in the bank is actually numbers that may be frozen for some reasons or debited for charges  or used to reinvest in other ventures by the bank, without the account owners knowledge.

Am sure it is clearly evident already and the only consolation I have is that these days even if the banks fold up or merge, one can still recover their funds, unlike how it was before.

[arallmuus]

In the future the new money system should be that at least some amount what you have in bank account for example up to 30k $ you can transfer into your private self custody wallet, i heard that's the plan and yes its needed.

I believe this is not going to happen because you the marginal reserve ratio are just 10% so all they gotta do is hold 10% of the entire funds entrusted to them in form of cash then they are free to use the rest in investment. What you are suggesting is not possible in fiat, its only applicable in crypto and there is no reason for banks to let you keep your own money in private self custody provided by them. Its just weird

Banks provide their service by keeping your money safe from robbery but in exchange, they are also using your money as part of their investment plan. It has been like that for centuries and it will be keep on being like that

[Spaceman1000$]

To be honest Banks have liabilities to other bigger banks and instutions If you own funds in bank it's not yours
In the future the new money system should be that at least some amount what you have in bank account for example up to 30k $ you can transfer into your private self custody wallet, i heard that's the plan and yes its needed.
Nowdays i feel like my bank account balance is just numbers and i have no control over it the true wealth i have is cash in my pocket or wallet and the cryptocurrency.
Also Banks hold extra liabilities to other financial instutions and bigger banks and you might have mortgage or car loan with your bank you might think they own it but not If your bank have problems than you might lose your home even you pay mortgage for your home.
The thing is that banks and other debit credit instutions don't expose to customers openly info about how much leverage or risk they have and liabilities what they need to pay to other financial instutions If not they must liquitate their assets.
In times like this you only want to deal with bigger banks and credit /debit instutions.
But i feel that crypto and cash are real money the bank balance on my bank account i feel little sceptical yes banks are safe but still i need that feeling that at least some of my funds are under my own control.

Ordinarily if you have the mindset of investing in crypto, then you don't have to deposit too much amount in your Bank account maybe just few amount you need for one or two things, however the banks are there for a purpose, don't forget that they give loan facility to there customers, they are accountable to your money hence you bank with them and that has been a long time practice Which is still useful till today, they have a lot of workers who still pay tax to the government and at the end of the day, that generates income to the government, and they are also responsible for our fiat distribution. so OP, the gloomy picture your painting on financial institutions for me is not necessary because they are there to serve a purpose and thus they've been doing from a long time coming.

[KingsDen]

To be honest Banks have liabilities to other bigger banks and instutions If you own funds in bank it's not yours
In the future the new money system should be that at least some amount what you have in bank account for example up to 30k $ you can transfer into your private self custody wallet, i heard that's the plan and yes its needed.
Nowdays i feel like my bank account balance is just numbers and i have no control over it the true wealth i have is cash in my pocket or wallet and the cryptocurrency.
Also Banks hold extra liabilities to other financial instutions and bigger banks and you might have mortgage or car loan with your bank you might think they own it but not If your bank have problems than you might lose your home even you pay mortgage for your home.
The thing is that banks and other debit credit instutions don't expose to customers openly info about how much leverage or risk they have and liabilities what they need to pay to other financial instutions If not they must liquitate their assets.
In times like this you only want to deal with bigger banks and credit /debit instutions.
But i feel that crypto and cash are real money the bank balance on my bank account i feel little sceptical yes banks are safe but still i need that feeling that at least some of my funds are under my own control.

These were the exact concerns of satoshi nakamato that made him to create Bitcoin. You do not need to lament as if the government of your country mandated every of their citizen to have all their money in the bank. Bitcoin introduced a kind of liberty to us. Satoshi successfully created a way of being your own bank so you can choose to manage part of your money in Bitcoin and leave the rest in your local bank. You do not actually know what goes in the back end of the banks and other financial institutions in connection with their Godfather (the government). They work in tandem against the common man who sees bank as the safest place to save. The people have trusted the government so much that we give them all. You can decide to join the league of trustlessness. Run a node today and become a full bitcoiner.

[WillyAp]

This we are the exact concerns of satoshi nakamato that made him to create Bitcoin. You do not need to lament as if the government of your country mandated every of their citizen to have all their money in the bank. Bitcoin introduced a kind of liberty to us. Satoshi successfully created a way of being your own bank so you can choose to manage part of your money in Bitcoin and leave the rest in your local bank. You do not actually know what goes in the back end of the banks and other financial institutions in connection with their Godfather (the government). They work in tandem against the common man who sees bank as the safest place to save. The people have trusted the government so much that we give them all. You can decide to join the league of trustlessness. Run a node today and become a full bitcoiner.

According to the whitepaper Bitcoin was planned as a P2P network, not as a financial vehicle. A bank fulfills many functions in society, lending and insuring your funds, at least in theory.
 
Due to the cultural decline and a much cruder view such as displayed in online forums people reach false conclusions. 

[Jatiluhung]

One thing that is certain is that banks are not like safes that are safe for you to use to store money in the long term. Banks can go bankrupt. And this has even happened in the past few years where many large banks have gone bankrupt. And their customers are confused about how to get their money back. For me, banks are just a place to store money temporarily before using or buying real assets such as property and physical gold. And our real asset is the real estate itself. Meanwhile, money itself is only a temporary asset whose value always changes due to inflation. So the safest place to secure assets is to buy land, or property or anything that you can sell without worrying about being affected by inflation.

[WillyAp]

One thing that is certain is that banks are not like safes that are safe for you to use to store money in the long term. Banks can go bankrupt.

Let me give you my experience of trustwallet, somehow it sent 25$ worth of a coin to the sending address of my former trustwallet. That happens to a bank and the bank would return that. Not so trustwallet.

The argument that a bank goes bankrupt is more remote than an exchange defaulting. Inflation: stablecoin Tether, do you remember? 

[Jating]

But i feel that crypto and cash are real money the bank balance on my bank account i feel little sceptical yes banks are safe but still i need that feeling that at least some of my funds are under my own control.

I do hope that you heard about BYOB or Be Your Own Bank. So yes, that is the very definition of Bitcoin to us, as we have control. However, it has it's drawback, since we are in total then we need to protect it at all cost and this is where some of us fail. There are investors who lost their crypto to hackers because they don't know how to practice safety.

Banks on the other hand, could be safe, however, our money is not going to grow with them. So you need to balance everything, maybe keep some cash in your hand in case of emergency and have some on banks and then majority in crypto as a form of investment but you need to learn how to keep it safe and private. Everything in this world has it's pros/cons and there is not a perfect system. And so the best thing to do is to make the best out of it, bank and crypto.

[Gozie51]

To be honest Banks have liabilities to other bigger banks and instutions

Banks don't own you any responsibility on what they use your money for and they are surely in business with your money.

If you own funds in bank it's not yours

Surely it is no longer yours if you have decided to take your money to your bank, it becomes there money until you demand to withdraw it .

The thing is that banks and other debit credit instutions don't expose to customers openly info about how much leverage or risk they have and liabilities what they need to pay to other financial instutions If not they must liquitate their assets.
In times like this you only want to deal with bigger banks and credit /debit instutions.

They don't have to expose their access and liability to you as an individual but they publish their annual report and share dividend with their share holders. You can find that in the public but they own you no responsibility of explaining what they used your money for. They are in business with your money definitely and if you are not cool with that then you won't keep saving in the bank.

But i feel that crypto and cash are real money the bank balance on my bank account i feel little sceptical yes banks are safe but still i need that feeling that at least some of my funds are under my own control.

Yes right . Cryptocurrency gives you that custody of your money in crypto to the exclusion of others.