Why trusting code is better than trusting banks

[samadam007]

We’ve trusted banks with money but they sometimes fail us.Bitcoin doesn’t rely on people It relies on code and math. Its supply is fixed and transactions are public. The rules are clear and can’t be easily changed unlike banks. This make them transparent over banking institutions

Would you trust code more than banks?

[Ucy]

You can only trust our CREATOR, who can never fail anyone who trust HIM, unlike trusting other things.But if code or a system is built on good foundation, it's definitely in "Good HANDS" and can be trusted, but as long as it does not deviate from the good foundation.
 Our aim is to ensure that Bitcoin does not deviate from the right foundation it was built on.

The banks definitely can't be trusted. The foundation is not right, needs to be regulated or controlled by people who are not infallible, and it's not in good  hands.

[BlackHatCoiner]

You should definitely trust one of the most reviewed and tested projects ever in software over a central banking cartel that has failed repeatedly, and is designed to siphon time and energy from you. The banking system is not merely "broken." It is functioning exactly as intended and people need an alternative to it, not a "reform." People need to opt out. Not "vote their way out."

Also, quoting satoshi:

The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible.

[Cookdata]

We’ve trusted banks with money but they sometimes fail us.Bitcoin doesn’t rely on people It relies on code and math. Its supply is fixed and transactions are public. The rules are clear and can’t be easily changed unlike banks. This make them transparent over banking institutions

Would you trust code more than banks?

Almost everything about banks are confidential, the transactions are personalized in the sense that everything is hidden. The only thing you see is transaction session, nobody knows what they do behind, they print when they want, they don't inform people about the things they do but they want people to trust them 100% and are backed by the governments, the rules and how they work are been televise by the government, nothing done in the bank is always transparent even the staffs have limited informations about where they work.

Bitcoin is different, it's open source and you can check how it was created and the growth since when Satoshi launched the Genesis block. There is no transactions you will search on the mempool that are not there unless it's a fake transaction ID that doesn't exist on the network, everything remain public and don't rely on one person so there is no point of failure, the banks don't work on Weeked but Bitcoin never stop, has limited supply, censorship resistance meaning government is limited to how they can stop transactions except when it's sent to centralized exchanges, the Bitcoin itself has a limited supply and no inflation. Anywhere Bitcoin stands, no bank can stand there.

[Fivestar4everMVP]

We’ve trusted banks with money but they sometimes fail us.Bitcoin doesn’t rely on people It relies on code and math. Its supply is fixed and transactions are public. The rules are clear and can’t be easily changed unlike banks. This make them transparent over banking institutions

Would you trust code more than banks?

Well, in as much as I see the perspective you are coming from which to be honest, you are right, I would still say that nothing made by man should be 100 percent trusted, there will surly be some lapses here and there from time to time.

Bitcoin like every other assets does have its lapses but it's definitely better than banks, many a times we have seen how banks failed and still failing, bitcoin on the other hand have done really great in its short existence, so I did say it's true to believe in bitcoin, but not trust codes generally because there are many same code have completely rekt their live forever, I know many times I've been scammed because I trusted in a code.

[Miles2006]

We’ve trusted banks with money but they sometimes fail us.Bitcoin doesn’t rely on people It relies on code and math. Its supply is fixed and transactions are public. The rules are clear and can’t be easily changed unlike banks. This make them transparent over banking institutions

Would you trust code more than banks?

In terms of privacy connected with bitcoin definitely you must trust yourself first holding the coin secondly trusting the code. There’s no third party except an exchange scheme and it’s advisable don’t trust an exchange likewise don’t trust the bank, bank system has proven over time in several cases anyone can get scammed including holding bitcoin privately. Both have different advantages and disadvantages though the bank system seems like a government scheme created to control and monitor our finance. The fact remains trusting yourself first before any code, if being able to protect the coin at all cost which is considered simple by taking the basic security steps serious.

[Obim34]

We’ve trusted banks with money but they sometimes fail us.Bitcoin doesn’t rely on people It relies on code and math. Its supply is fixed and transactions are public. The rules are clear and can’t be easily changed unlike banks. This make them transparent over banking institutions

What's the case with banks, lacks security, no basic returns, delay and stressful transactions.

Banks take control of your account security while you keep the privacy, Bitcoin gives you both security and privacy.

Would you trust code more than banks?

I trust the code in majority purpose while banks hold lighter part of it, both coexist, meaning they serve alternatively with one having the best pick. My level 1 trust, instead of saving in banks, I rather invest into Bitcoin.

[PrivacyG]

Ideally, you should not 'Trust' a code more than you trust a Bank because Open Source codes are auditable and, ideally again, you should audit the code by your self instead of Trusting it.

There is absolutely no point in debating whether it is worth Trusting a Bank more than a code or not.  You do not have any idea how Banks work internally.  If you can read and audit a code, you can know every single inner working of any compilation of lines of code that you read.  Banks have done very shady things in the past, Bitcoin can not do any thing shady because it is entirely public for any auditor to see and verify and no body can stop an auditor from warning any of the people who can not read codes that Bitcoin is malicious in any way.  The debate ends here in my opinion.  Open Source is unbeatable.

[Joy_learns_crypto]

The banks can fail, but also trusting bitcoin is trusting yourself and many times people have failed themselves, some bitcoin are gone never to be found again because someone made a mistake that failed themselves and the bitcoin community.
Trust yourself when you prepare yourself. I don’t want to go into the term Code you used I would have rather used trusting bitcoin.

[mrust_mobile]

It is all fun and games until someone loses his private keys. You can do charge backs with credit cards when you get scammed or even reverse transactions with banks in some rare cases but none of those are available for btc. Btc is superior to banks as long as you are in control of what you are doing but it also takes a second of distraction to lose your coins forever. A tiny copy/paste trojan can ruin everything for you irreversibly. Or a infected browser plugin… a misclicked spam email link… a hacked electrum update…  As long as you are aware of those risks, btc is invincible. If you even miss one of those threats, then banks win. Banks don’t win directly but your loss of btc becomes their victory. I think it is still way too early to ditch banks. They will be around for a long time.

[PrivacyG]

It is all fun and games until someone loses his private keys. You can do charge backs with credit cards when you get scammed or even reverse transactions with banks in some rare cases but none of those are available for btc. Btc is superior to banks as long as you are in control of what you are doing but it also takes a second of distraction to lose your coins forever. A tiny copy/paste trojan can ruin everything for you irreversibly. Or a infected browser plugin… a misclicked spam email link… a hacked electrum update…  As long as you are aware of those risks, btc is invincible. If you even miss one of those threats, then banks win. Banks don’t win directly but your loss of btc becomes their victory. I think it is still way too early to ditch banks. They will be around for a long time.

Your reply makes sense only partially.  You had the same responsibility every time you had Cash in your entire life.  It also takes a little distraction to forget where you put your Wallet the last time or have it stolen from you.  But you are responsible and you hopefully do not forget where you put it.  This is the same for Bitcoin, you only need to be responsible.  If it is such a big difficulty that you really need a Third Party to help you out because you were naive and thought the 'brand ned 200 Dollar iPhone 15' deal was legitimate and fell for it, you have way bigger problems to deal with first.

Holding Bitcoin in a Secure way is not as difficult as it seems.  It only takes one try and then things become so much easier next time as you get used to the system.

You are not used to controlling your own Assets and you are choosing the so called 'comfort' of paying a Trusted Third Party to do it for you.  This is why you believe Banks offer this advantage.  I personally can not believe how people fall for 99 percent of the Scams.  It only makes sense when you start understanding that they only lack common sense and are too irresponsible and immature.  Bitcoin requires responsibility, it is understandable why a lot of people run away from it.  We all have such a big, ugly need to be babysit recently and I will never understand why.

[Spaceman1000$]

We’ve trusted banks with money but they sometimes fail us.Bitcoin doesn’t rely on people It relies on code and math. Its supply is fixed and transactions are public. The rules are clear and can’t be easily changed unlike banks. This make them transparent over banking institutions

Would you trust code more than banks?

The banks runs an opaque system that the outside World hardly understand what they are about to come up with, they are good in change the rules arbitrarily without public input, they set limits you should withdrawal your own money, at some point they have apps some  that are slow to do transactions, the Central Banks are busy on their printing spree. Some of this hiccups is what Bitcoin has been able to solve with public transparency without hidden intent, what else should I prefer if not Bitcoin.

[Moreno233]

We’ve trusted banks with money but they sometimes fail us. Bitcoin doesn’t rely on people It relies on code and math. Its supply is fixed and transactions are public. The rules are clear and can’t be easily changed unlike banks. This make them transparent over banking institutions

Would you trust code more than banks?

Bitcoin have so many reason it could be trusted more than the bank and one of the outstanding reason is that of decentralization of Bitcoin that removes the bureaucracy in centralized systems. Bitcoin does not need the permission of anyone since it is P2P and eliminate any third party intervention. The bank can fail and you will have a hard time recovering your money but there is no such thing with Bitcoin because it is in your wallet where you have full control of it when you chose self custody. Finally, money in the banks is subjected to inflation that affects fiat currencies, there is no such inflation in Bitcoin since it is a fixed asset.

[Asiska02]

We’ve trusted banks with money but they sometimes fail us.Bitcoin doesn’t rely on people It relies on code and math. Its supply is fixed and transactions are public. The rules are clear and can’t be easily changed unlike banks. This make them transparent over banking institutions

Would you trust code more than banks?

Well, in as much as I see the perspective you are coming from which to be honest, you are right, I would still say that nothing made by man should be 100 percent trusted, there will surly be some lapses here and there from time to time.

Bitcoin is of the perspective of when inspected very well, you can see that the tendency of it failing or have its lapses overpower its advantages is very minimal or none to happening. So it makes it a great choice to rely on over other such innovations that works in the same way as it does. Bitcoin is also transparent in its design, and that’s a big edge over traditional banks.

Bitcoin like every other assets does have its lapses but it's definitely better than banks, many a times we have seen how banks failed and still failing, bitcoin on the other hand have done really great in its short existence, so I did say it's true to believe in bitcoin, but not trust codes generally because there are many same code have completely rekt their live forever, I know many times I've been scammed because I trusted in a code.

Trusting of code now relies totally on your method of securing them, many that have being recked through this code have their own flaws also which in reality we shouldn’t use it to blame the Bitcoin design. Embracing Bitcoin and managing your codes well to swiftly get to secure them is the best for a flawless operation of its use.