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Author Topic: The simplest explanation why you should consider Bitcoin  (Read 1219 times)
BoiCrypto
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October 09, 2026, 08:56:15 PM
 #121

but the feeling of being in control of how you manage your money and being able to transact at anytime without needing any third party permission is what makes bitcoin more appealing over the traditional banking system.

Exactly, when you invest in Bitcoin you will be the in control of your funds, you can do anything with ut regardless of the time, and again even when you think you are saving your money in bitcoin the value keep increasing time by time while in bank when inflation comes, your money will be affected the value of your money will decrease.

Regardless, Bitcoin still remain the best option to either save money, or invest.
Nightwatchmare
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Today at 08:33:50 AM
 #122


Watching that video really tested my patience because how is it possible that you just want to take your own money but you're treated like a beggar.. I think this is why people say dealing with banks is so troublesome because when you want to deposit money, they roll out the red carpet for you, but when you want to withdraw your money, they immediately give you a ton of paperwork that you have to complete.. but that's how it works, and that's why Bitcoin was presented to be an alternative where people become their own bank.
A bank will easily stop you from getting access to your money in your account because of one stupid reason best known to them, and if you cannot provide what they ask for, you will not access your own money. There was a certain amount of money that was paid into my account by my daddy for my tuition fee, back then my account was still a student account, when i went to withdraw the money so i can pay for my tuition and register my course but i was told i cannot withdraw the money until i upgrade my account to a standard account. It is how traditional banking system treat their customers that gave rise to Bitcoin creation. With Bitcoin everyone is their own bank and they can access their money without needing permission from no-one.











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Yorubek
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Today at 09:45:59 AM
 #123


Watching that video really tested my patience because how is it possible that you just want to take your own money but you're treated like a beggar.. I think this is why people say dealing with banks is so troublesome because when you want to deposit money, they roll out the red carpet for you, but when you want to withdraw your money, they immediately give you a ton of paperwork that you have to complete.. but that's how it works, and that's why Bitcoin was presented to be an alternative where people become their own bank.
A bank will easily stop you from getting access to your money in your account because of one stupid reason best known to them, and if you cannot provide what they ask for, you will not access your own money. There was a certain amount of money that was paid into my account by my daddy for my tuition fee, back then my account was still a student account, when i went to withdraw the money so i can pay for my tuition and register my course but i was told i cannot withdraw the money until i upgrade my account to a standard account. It is how traditional banking system treat their customers that gave rise to Bitcoin creation. With Bitcoin everyone is their own bank and they can access their money without needing permission from no-one.
A person can be harassed by keeping money in the bank. In any case, the person cannot withdraw his money at the right time until the bank gives permission. This is absolutely true. Many of us may have faced such a situation which is really painful for a person when he fails to withdraw his money when he needs it.
Bitcoin has given a person complete financial freedom, which has completely freed a person from the hassle of banking, as a result of which an investor can easily buy, hold it for a long time and can easily exchange it for his needs. For this, he does not have to depend on any third man. The person can independently control his money, as a result of which people are able to benefit from Bitcoin in various ways, Which is truly a matter of enjoy for a person.

EarnOnVictor
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Today at 10:31:35 AM
 #124

Also the video expatiate the financial slavery of the traditional financial system in such a short video, the burdens you need to bear to get your own property and shows that it is not truly yours in the traditional financial system.
This is the most hurtful part. You work hard to amass wealth and build something good for yourself and your family. All of a sudden, maybe due to disagreement, politics, or someone flexing the muscle due to power and influence, or even through the power of the court (an institution often being bought), freeze all those. That's the most painful part. Just in the name of government and "the power that be," you are forced out.

You are not in control of most of the things you think you control. If Bitcoin could help in this regard alone, I think it's worth to be adopted.
Unfortunately, we cannot do away with the traditional financial system completely because of the important role it plays in every economy. However, its importance also makes it a powerful tool in the hands of political elites and other influential people who uses it to control or restrict others.
That's a fair point, and I personally like the way the centralised system operates in terms of traceability and accountability, so that what's due to a country and it's citizens are accounted to them economically. That's where decentralised systems failed, as transactions fades somewhere in-between.

Above all, let's be smart with the two; the government and the systems they created or helped created will always fight back one way or another, so it's left for us to get prepared. Honestly, if I could do transactions with Bitcoin 100%, I wouldn't mind, but only give in to fiat/centralised arrangement if need be.

Leon Zimmer
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Today at 10:31:59 AM
 #125

One of the main features of Bitcoin is financial freedom, being able to have and control money without the consent of banks. This may sound good, but it comes with risks. After all, if your bank account is frozen, you can potentially challenge this, however, losing your bitcoin seed phrase could mean losing access to your bitcoin forever.

Freedom of being able to self custody your bitcoin (or indeed any cryptocurrency) is one, however it does come with learning how to secure and protect this bitcoin properly. Without education, it may end up being more of curse rather than blessing.
This is a very important point, the more careful a person is about the responsibility of storing and controlling their assets safely, the safer they will be. Losing the seed phrase or letting it fall into someone else's hands means losing your assets forever, and therefore it is imperative to be careful about storing Bitcoin. There are many people who only focus on buying Bitcoin, and many even hold Bitcoin on exchanges, such people actually only know how to buy Bitcoin, but they do not know how to store Bitcoin safely, and this can be a reason for them to lose everything, but this issue is neglected and ignored by many in the first place.
Ensuring the security of assets is equally necessary, ignoring it means keeping a very big weakness in yourself and that if something causes a problem, there will be no way to protect the assets. Therefore, along with setting up a secure wallet, it is mandatory to store the seed phrase very seriously.

That is not to say that keeping your BTC with an exchange is wrong, but you need to keep in mind that you are entrusting your money to some company. Getting Bitcoin is the easy part, and keeping it safe for years to come is harder.

Make sure to check that your backup works and that you know how to restore your wallet before you need to. A bad backup (or one you cant find when you need it) is almost as bad as no backup. Remember that keeping your seed phrase safe is only part of properly keeping your Bitcoin safe.
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