Hidden Secrets of Rehypothecation and Why Bitcoin is the Solution

[SmartGold01]

This is the reason since I got into crypto i don’t even know what it is like to save money in the bank again not just savings alone. I don’t even keep more 100k in my bank accounts again to be honest, I always  have some liquidity on USDT and bitcoin. I just swap it whenever I have the need to use the money. it’s my own way though, and I guess everyone has the way they handle their finances. Right now I’m a full crypto person.

The USDT that you bought, it is backed by assets like United States dollars. Do you know that Tether, the company that created USDT also invested your money and other peoples' money to make profit?

Do you also know that USDT is very centralized is a way that Tether has the power to freeze your coins on noncustodial wallet? Although , stable coins are convenient than domiciliary accounts.

To be honest instead of me to hold USDT I would better hold BTC irrespective of it's volatility nature because holding USDT is not actually wise since its a Centralized coin any thing could likely happened. Hold bitcoin is more better because of its decentralized nature, if not for the volatile aspect that keeps making more people holding back USDT. In fact, it would be that better to hold DAI than USDT because DAI is decentralized stable coin, although I have to also understood that some of platform have delisted DAI.

[Mate2237]

This may sound funny but you just started the facts of the matter when it comes to the money they we save in the banks. The banks infact is actually lending back our money back to us with interest on top when ever we wants to borrow money from them. So instead of putting your money in the Bank which they are going to even charge you for why don't you put your money in a place were your money is going to add value to you on the long run.


There is need for us as Nigerians to look the way of Bitcoin as a prospective investment drive that can help, us to protecting our money from the effects of inflation which Nigerians has been exposed to which has made many Nigerians to be living below the poverty line.

[Joy- maker]

This thread is an interesting one, and i am sure that no one would read it without having a rethink. There are people who have not really realize that banks are using their money for their own business and enriching themselves through people's money.

On a serious note, keeping money in the bank feel safer than keeping it in bitcoin, now let me ask you this, who did you think became successful by playing safe? As far as i am concerned all the millionaires and billionaires you see today did not become what they are by playing safe, they all took risks that nearly cost them their
fortunes.

The earlier people realized that, keeping their money in bitcoin is far better than keeping their money in the bank the Beter it will be for them. there is a saying that says, he who have ears should hear.

[sokani]

In fact, it would be that better to hold DAI than USDT because DAI is decentralized stable coin, although I have to also understood that some of platform have delisted DAI.

Yes. In time, DAI will no longer be in use or available for trade in centralized exchanges. It's being rebranded to a new stablecoin called United States Dollar Sky (USDS) and that's why most exchanges are discontinuing the support for DAI in order to list the new, rebranded stablecoin.

[Rgram]

So if you are the type that have not been appreciating the existence of Bitcoin being a decentralized financial currency, then maybe the time has come for you to realize various opportunities you have to benefit from bitcoin adoption and why you should not depend solely on the banks in controlling your financial assets for you, it has been over decades that people have been using this traditional system to hold their assets, yet the value decreases over time because of the incidence of inflation when we stand not to make profit from our financial holding, but the entire narrative has changed ever since the introduction of Bitcoin.

That was and still is a working system, where you go leave money with banks and them go help you keep am for you, use am for business and even give you loans when you need am.

One of the major reasons why people Dey prefer use banks for this purpose na the fact say, people no like take the risk of keeping huge amount of money themselves and the fact say, banks fit reproduce your money for you in any city way you Dey and at anytime for regular working hours to go about your business. Them Dey also fascinate financial transactions too between parties.

These na things way Bitcoin don come into and e Dey grant you complete access to do all these things without needing another party to help you. You even get the chance of holding and getting better profit on top your holdings if the market pump. Na why people need to understand and accept Bitcoin to be the very upgrade to our centralized systems.

[Rhow]

Keeping money in the bank means establishing control over your money by others. If you keep your own money in the bank and withdraw it from the bank for your needs, you will have to pay interest again, although the bank provides some facilities, it is certainly not enough. I would say that giving up your freedom to others.

Keeping your Bitcoin with yourself will provide some benefits that are not possible in any other case. If you keep Bitcoin with yourself, it will be under personal control. It will be transactable at any time according to your wishes. Where banks have a fixed time for transactions, there is no need to wait for a fixed time for Bitcoin. Keeping money in the bank will result in inflation, on the other hand, if you keep Bitcoin, it can bring large financial returns in the long run. Where banks cannot transfer money worldwide without any third party, Bitcoin will be able to transact ‍all over the world without any third party.

Rather than letting someone else profit from your hard-earned assets, you should enjoy the benefits of your own wealth. In other words, banks are getting rich by keeping other people's wealth, while others are losing out by keeping their own wealth in banks.