My money in bank backed or not real ?

[Mansory22022]

So If i have money in bank is like i have crypto in my wallet? If i see i have 3000 usdt balance i can take it out send it exchange so i know that its there and real.
But in bank my balance might 3000 but bank only got real money the cash or some virtual digits or units 1500.
If they got no equal amount what i actually hold then it's scam.
By BASEL 3 New rules capital requirement it's end of scam you can't just show on the balance sheet what you actually don't have.
By basel 3 rules small banks goes to bust.
So in this case there is a lot questions to ask what is the money and how secure is the system of recording our money.
And even some random peace of stone are more as real money currency then money we think we have in the bank.


That's why If we talking about "having the money" only if it's cash or crypto stablecoins.

Off course even some crypto exchangers show balance what they actually don't have but crypto exchangers not so scammy like Banks the Banks i remember fanny mae and other ones lent out mortgage deals what they did not have ownership and people in USA just lost homes.

[DeathAngel]

Money in your bank is just a digital balance of what they owe you. You can never be 100% certain that you won’t get your accounts closed or some kind of worldwide depression causes banks to enforce max withdrawal limits per month or something. Be your own bank, save in Bitcoin.

[Yanghudi]

Let's assume if I agree with this topic and it's proven to be right. Eventho the money in our balance is not "real", the reason why bank is still trustworthy is bacause it is regulated and guaranteed by the government, so if anything went south government will take action in protecting the client's money and right, but in some country there is always a case where a bank went bankrupt or there was a corruption case, the client will be facing with a difficult procedure in order to get their money back.

Nowadays since alot of countries take bitcoin as their legal payment system, if anything happen, the country who hasn't regulate the btc cannot do much for the holder.

[Mr.sprin]

Money in your bank is just a digital balance of what they owe you. You can never be 100% certain that you won’t get your accounts closed or some kind of worldwide depression causes banks to enforce max withdrawal limits per month or something. Be your own bank, save in Bitcoin.

It's true, as you said, save your savings in Bitcoin to ensure more security, but we also have to have savings in the bank, even though we can't guarantee it 100%, at least the bank is supervised by the local government, especially state banks which are supervised by the government through state-owned companies, so we have to be sure that the money we save in the bank is 100% ours, if things happen that we don't want we can claim to the government so that the problem can be resolved properly and with full responsibility as long as it's not from our negligence, because when bitcoin When we sell, the money will flow to the bank too, from there we make transactions to be able to disburse fiat money so we can use it.

[Shortmaster]

So If i have money in bank is like i have crypto in my wallet? If i see i have 3000 usdt balance i can take it out send it exchange so i know that its there and real.
But in bank my balance might 3000 but bank only got real money the cash or some virtual digits or units 1500.
If they got no equal amount what i actually hold then it's scam.
By BASEL 3 New rules capital requirement it's end of scam you can't just show on the balance sheet what you actually don't have.
By basel 3 rules small banks goes to bust.
So in this case there is a lot questions to ask what is the money and how secure is the system of recording our money.
And even some random peace of stone are more as real money currency then money we think we have in the bank.


That's why If we talking about "having the money" only if it's cash or crypto stablecoins.

Off course even some crypto exchangers show balance what they actually don't have but crypto exchangers not so scammy like Banks the Banks i remember fanny mae and other ones lent out mortgage deals what they did not have ownership and people in USA just lost homes.

It's allmost like the binance futures position you hold futures positsion what you think you have
Your money what you think it's your money not the spot but it's the futures leverage position your bank balance is pretty much like unrealised profit the ROE.

[iBaba]

Money in your bank is just a digital balance of what they owe you. You can never be 100% certain that you won’t get your accounts closed or some kind of worldwide depression causes banks to enforce max withdrawal limits per month or something. Be your own bank, save in Bitcoin.

Well said. Any money that's in your bank is only a digital asset you can claim but doesn't mean it's a physical asset like the cash you hold in your hands. I see these digital balance as assets which you entrust in the hands of your banks to keep it safe for you since they have more facilities of ensuring your money is safe and in return they charge you for the services they render to you through taking their bank charges. While those funds remain in their custody, you can't touch them until they are sent to you. Even when you withdraw money from the bank, the bank has to give wire you the money before it can be transferred to your custody.

In the past, before the coming of the banking system, people deposit their money into saves which are readily available for them to withdraw and use, while this seems to be easier for people who needed to access their funds in the earnest, it wasn't the best way to keep cash because oftentimes people were robbed off their hard earned money due to the less security attached to those funds. This was one of the most reasons why banks were introduced.

[Knight Hider]

It's both!
The money is not real, and it's backed by other money that's also not real.

[Stalker22]

But in bank my balance might 3000 but bank only got real money the cash or some virtual digits or units 1500.
If they got no equal amount what i actually hold then it's scam.
~

This is an oversimplification and a fundamentally flawed understanding of how banks work.  Banks dont hold all of their deposits in cash. They invest a portion of it to generate returns.  Do you forget that in a similar way as you left your money in the bank, someone else can request a loan from the same bank? Where do you think that "extra" money is coming from?  And did you know that banks can also receive as well as give loans to other banks?

Your understanding of the banking system is flawed, as its not exactly comparable to using a safety deposit box.

[Fortify]

So If i have money in bank is like i have crypto in my wallet? If i see i have 3000 usdt balance i can take it out send it exchange so i know that its there and real.
But in bank my balance might 3000 but bank only got real money the cash or some virtual digits or units 1500.
If they got no equal amount what i actually hold then it's scam.
By BASEL 3 New rules capital requirement it's end of scam you can't just show on the balance sheet what you actually don't have.
By basel 3 rules small banks goes to bust.
So in this case there is a lot questions to ask what is the money and how secure is the system of recording our money.
And even some random peace of stone are more as real money currency then money we think we have in the bank.


That's why If we talking about "having the money" only if it's cash or crypto stablecoins.

Off course even some crypto exchangers show balance what they actually don't have but crypto exchangers not so scammy like Banks the Banks i remember fanny mae and other ones lent out mortgage deals what they did not have ownership and people in USA just lost homes.

The money in your bank is real enough that billions of people transact in it every single day and it keeps a reliable tally of people's money. If a bank starts losing people's money then it quickly goes out of business and every depositor in developed countries will have their money assured by the central banks. There is always vulnerability and extreme possibilities in any system, including cryptocurrencies, but trying to push illogical arguments forward does not help the cause. Bitcoin does not have the capacity to cover all transactions worldwide at a reasonable price point, however it is a huge market and there in room for many competitors to make money in it.

[Ndabagi01]

Money in your bank is just a digital balance of what they owe you. You can never be 100% certain that you won’t get your accounts closed or some kind of worldwide depression causes banks to enforce max withdrawal limits per month or something. Be your own bank, save in Bitcoin.

Bitcoin inventions has crossed that line that allows you not to be your own bank. Breaking the bonds of third party to your own money. Bitcoin may just be alternative to the fiat current used by banks but it sures provide maximum security and control of your own money. I don’t think anyone or company can save your money better than you’ll do, you’ll employ all security measures to safeguard that money of yours by all means possible.

In the past, before the coming of the banking system, people deposit their money into saves which are readily available for them to withdraw and use, while this seems to be easier for people who needed to access their funds in the earnest, it wasn't the best way to keep cash because oftentimes people were robbed off their hard earned money due to the less security attached to those funds. This was one of the most reasons why banks were introduced.

Introduction of banks really came at the right time and people were able to save money in the banks without having to bother about robbers coming to steal their money. But as technology advances, many lapses were seen in this traditional banks which bitcoin also came in to address, it may not be able to address all but at least it addressed the most important ones which are a big concern today to those using these banks for saving their money.

[Wexnident]

~

I think the argument is they only need the equal amount WHEN you withdraw it. If they hold it, they can hold it as whatever the hell they actually want until you need it. It could die out on its own but since the government backs it, they're able to offset any problems just by, well, printing more money. It might be a bit surface-level take but at least that's how I think of it. And there's reason why people trust it, cause if the government goes down then pretty much society went to hell already.

[FatFork]

Banks only keep a fraction of deposits as physical cash and the rest is just virtual - numbers on a screen basically. So yeah, if everyone tried to take out all their money at once, the bank wouldn't have it.  It makes you wonder if the system is a bit of house of cards.  How real is the money we think we have in savings and checking accounts? More real than some shiny rock perhaps, but still makes me uneasy how much banks lend out versus what they actually have liquid.

I know our financial system is more complicated than I can probably wrap my head around.  But I do wonder how sound it really is if it's based on money that doesnt fully exist.

[bubilas]

Banks only keep a fraction of deposits as physical cash and the rest is just virtual - numbers on a screen basically. So yeah, if everyone tried to take out all their money at once, the bank wouldn't have it.  It makes you wonder if the system is a bit of house of cards.  How real is the money we think we have in savings and checking accounts? More real than some shiny rock perhaps, but still makes me uneasy how much banks lend out versus what they actually have liquid.

I know our financial system is more complicated than I can probably wrap my head around.  But I do wonder how sound it really is if it's based on money that doesnt fully exist.

I have always been surprised at how cleverly the banking system has made the exchange of cash for cards among the population. At the same time, no one has thought about the reality of the money on the balance and about security.
And I am not only talking about hacking, but also about the fact that the bank can block all accounts of any user with a snap of the fingers. And if you consider that the money on the balance can only be numbers, then it turns out that in exchange for convenience we have forgotten about the security and independence of our money.

[CryptopreneurBrainboss]

Money in your bank account aren't real. If you think that's a lie then try to withdraw everything you have to cash and see what will happen. Infact banks don't have cash, they prefer you spend the money digitally. In my country banks don't have cash in the ATM machine and when they do, they restrict how much you can withdraw daily because they want to encourage cashless policy to hide the fact that they don't have funds to back all the money under their custody. There's also a very small percentage of insurance so incase the bank goes bankrupt, they can only settle you and not gives you all your money

Off course even some crypto exchangers show balance what they actually don't have but crypto exchangers not so scammy like Banks the Banks i remember fanny mae and other ones lent out mortgage deals what they did not have ownership and people in USA just lost homes.

Crypto exchanges and banks operates in the same well, which is why we're advice to never store our crypto on exchanges. The only money you can call yours is Bitcoin in your personal non constodial wallet and not stablecoin or altcoins because they all can vanish without any trace just as other crypto has vanished and all their investors got nothing in compensation.

[Solosanz]

Centralized exchanges and banks are same, including lending companies or any other centralized projects.

You might think centralized exchange aren't like that because you always able to withdraw your coins, but you should try with huge amount like withdrawing 100,000 Bitcoin at once or at least $1 Billion+, I really interested to know the answer.

Remember, this not only limited to CEX and banks, it also applies to coins runs in non native network e.g. Wrapped Bitcoin, Bitcoin BEP2 and so on.

[Fullbear2222]

So If i have money in bank is like i have crypto in my wallet? If i see i have 3000 usdt balance i can take it out send it exchange so i know that its there and real.
But in bank my balance might 3000 but bank only got real money the cash or some virtual digits or units 1500.
If they got no equal amount what i actually hold then it's scam.
By BASEL 3 New rules capital requirement it's end of scam you can't just show on the balance sheet what you actually don't have.
By basel 3 rules small banks goes to bust.
So in this case there is a lot questions to ask what is the money and how secure is the system of recording our money.
And even some random peace of stone are more as real money currency then money we think we have in the bank.


That's why If we talking about "having the money" only if it's cash or crypto stablecoins.

Off course even some crypto exchangers show balance what they actually don't have but crypto exchangers not so scammy like Banks the Banks i remember fanny mae and other ones lent out mortgage deals what they did not have ownership and people in USA just lost homes.

Keep only money in bank that much what you are willing to lose or you accept that you might not have full control over your money some period of time or only limited options to access your money.

In war time many countries have rules that banks can take people money to use it for military expenses for example the Finland is kind of country where is this law.

[shield132]

Off course even some crypto exchangers show balance what they actually don't have but crypto exchangers not so scammy like Banks the Banks i remember fanny mae and other ones lent out mortgage deals what they did not have ownership and people in USA just lost homes.

I would say that at this point, banks are safer than crypto exchanges because there have been many crypto exchange hack and scam attempts and when you lose Bitcoin, that's lost forever while with banks, you still have a chance to recover money.
Btw as wise people say, not your keys, not your coins. When your cash is in bank, it's not your property anymore and when your coins are deposited on exchange, they are not yours too. Money is only yours when you have cash in your pocket and when you control your keys. (Btw money is still the property of the governments because they can print as much cash as they want and they can make it bankrupt anytime they wish).

Money in your bank account aren't real. If you think that's a lie then try to withdraw everything you have to cash and see what will happen. Infact banks don't have cash, they prefer you spend the money digitally. In my country banks don't have cash in the ATM machine and when they do, they restrict how much you can withdraw daily because they want to encourage cashless policy to hide the fact that they don't have funds to back all the money under their custody. There's also a very small percentage of insurance so incase the bank goes bankrupt, they can only settle you and not gives you all your money

Every bank sets daily restrictions on the amount that you can withdraw and that's because ATMs are small, there aren't millions of dollars in each of them and they have many users every day. Limit helps them to store some amount of money and not worry about ATM going cashless in a week.
By the way, you can get a premium card and get higher limits but you'll have to pay more for that.

[Marvell1]

Banks only keep a fraction of deposits as physical cash and the rest is just virtual - numbers on a screen basically. So yeah, if everyone tried to take out all their money at once, the bank wouldn't have it.  It makes you wonder if the system is a bit of house of cards.  How real is the money we think we have in savings and checking accounts? More real than some shiny rock perhaps, but still makes me uneasy how much banks lend out versus what they actually have liquid.

I know our financial system is more complicated than I can probably wrap my head around.  But I do wonder how sound it really is if it's based on money that doesnt fully exist.

But one thing is for sure if you or anyone here wants to withdraw a large amount of money, they will be able to accommodate it in full.

The numbers on the screen may be virtual, but everything is controlled by central banks and governments. Furthermore, what good is issuing so much cash when we have to spend millions more dollars to print and distribute it? And have you ever witnessed cash shortages and services refusing to accept payments using bank accounts in your country or anywhere? I believe that has never happened and I have never encountered that in my country.

I think the imbalance between cash and numbers on screens is something we don't need to worry about because governments and central banks will address this. They will ensure that your money or everyone else's money will be used legally whether in physical or digital form. What we need to care about is diversifying our assets because everything has risks.

[Oluwa-btc]

Money in your bank is just a digital balance of what they owe you. You can never be 100% certain that you won’t get your accounts closed or some kind of worldwide depression causes banks to enforce max withdrawal limits per month or something. Be your own bank, save in Bitcoin.

Yeah I get your right,this days money in the Bank isn't 100% safe anymore cause the amount you put there won't be the same amount you are to withdraw when the need be, normally they would say it's service charge and all of that but if anything happens like unforseen circumstances that involves robbery attack,fire incidence,incompetency of the bank that led to the close of it and alot more,so what would become of the owners.

Comparing it to crypto,it's safer secured and reliable,amidst all those circumstances Bitcoin will surely survive and stand firm so I think it's the real deal here.

[legendbtc]

Money in your bank is just a digital balance of what they owe you. You can never be 100% certain that you won’t get your accounts closed or some kind of worldwide depression causes banks to enforce max withdrawal limits per month or something. Be your own bank, save in Bitcoin.

Yeah I get your right,this days money in the Bank isn't 100% safe anymore cause the amount you put there won't be the same amount you are to withdraw when the need be, normally they would say it's service charge and all of that but if anything happens like unforseen circumstances that involves robbery attack,fire incidence,incompetency of the bank that led to the close of it and alot more,so what would become of the owners.

Everything has risks, whether it is banking or bitcoin, nothing is 100% guaranteed. Banks are businesses too and they want to make money just like we do. If you feel their service is too expensive and not worth using, don't use their service. But if you want them to hold your money for you, you need to pay them certain fees because they are a business, as I said. Like other services on the forum, you also have to pay a fee if you want to use it, no one will lend you money without interest...

I don't know your country but in my country, bank deposits are guaranteed by the government. If the bank fails, the government will step in to fix it, although it will take a long time to get the money back.

Comparing it to crypto,it's safer secured and reliable,amidst all those circumstances Bitcoin will surely survive and stand firm so I think it's the real deal here.

Yes, in some cases, holding money in bitcoin is safer than relying on a third party. But bitcoin is not an ideal store of value or safe haven. Bitcoin's high volatility makes it more suitable for investment. What if your savings are in bitcoin and the value of bitcoin drops 50%?

The solution here is to diversify your assets, everything has pros and cons so don't put everything in the same basket.