The simplest explanation why you should consider Bitcoin

[Audrey Simmons]

@op, I know you love Bitcoin, i love Bitcoin too and many of us here in this forum also love Bitcoin. But I partly do not agree that tbe traditional banking system is entirely slavery. It could be anything but the word slavery is an over exaggeration.

I believe the OP still uses traditional banks, Bitcoin will always be an alternative to fiat. Regardless, there will be an increasing number of adoption, that doesn't change the fact that banks are operating in their own lane, and Bitcoin continues to serve its purpose, both can coexist and be useful when we need to use one over the other. Banks are not slavery, neither is Bitcoin going to replace banks, both are important to me for managing my finances.

[Rgram]

Most smaller investors are gamblers, they appreciate high yield within a short period, satisfy their greed and move on, they don't care about long-term value proposition in bitcoin. Large investors are have a better mindset to preserving value and protecting their assets from predatory instincts of financial institutions and the government, That's why they choose bitcoin.

I don’t think that’s what makes them gamblers. These decisions for them to invest on a short term, prioritizing profits and leverage what they will to satisfy their purposes is okay. At least, they just go into the market like a spot trader would do and predict where the market would be in the next minute.

The simplest way to put this thread would be in question format for me;
1. Do you believe Bitcoin is the future?
2. Do you understand it’s a currency without borders?
3. Why wouldn’t you want to be in the future…?

You can fill in the rest.

[Chinesebaby]

@op, I know you love Bitcoin, i love Bitcoin too and many of us here in this forum also love Bitcoin. But I partly do not agree that tbe traditional banking system is entirely slavery. It could be anything but the word slavery is an over exaggeration.

I believe the OP still uses traditional banks, Bitcoin will always be an alternative to fiat. Regardless, there will be an increasing number of adoption, that doesn't change the fact that banks are operating in their own lane, and Bitcoin continues to serve its purpose, both can coexist and be useful when we need to use one over the other. Banks are not slavery, neither is Bitcoin going to replace banks, both are important to me for managing my finances.

Both Bitcoin and the traditional banking system will always coexist together as a means of exchange in the society, but for me, what I think O.P was trying to point out in the Instagram video he just shared above is for us to know that a money kept in the bank might be seen as our money, until you want it back, thats when you will know that it was never yours, due to the numerous procedures you might be subjected to undergo. Which is literary not the same with Bitcoin where you stand the chance of having full control over your digital assets.

[Tamaperdana]

https://www.instagram.com/reel/Dd9MVAtu4M0/?stkn=MTd4d3RvaHVzbzVhbw==

That Instagram video depicts the advantage Bitcoin has over the traditional financial system, with that video you need not say much again to describe what you as an individual will gain from Bitcoin.

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.

It's undeniable that traditional finance is riddled with manipulation and lies, which ultimately impact us as a society. So, I don't think we need to think about this further, because we all know that the traditional financial system is truly not very good. Frankly, the currency itself is also very weak, as the difference in value between ten years ago and now is clear. So, with Bitcoin's existence, it has rendered all financial systems in the world helpless, because what Bitcoin brings is truth and true justice. So, with this in mind, buying Bitcoin is clearly a very good thing right now, because Bitcoin is fundamentally a very good currency, and it's clearly not filled with any manipulation. Because it is a completely decentralized digital currency and not controlled by any authority. So, this is truly a very good thing to have in our midst, at a time when the financial system is truly in disarray. So, we really don't need to hesitate about Bitcoin.

[SPIDERMAN008]

-snip-
Even if there is savings in my account, if the bank does not have fiat currency at that particular time, then they can block the transaction or I may have to wait to withdraw the money. And this is where the main difference of Bitcoin is create . Bitcoin gives us financial freedom. No one's permission is required to transact through Bitcoin. No one can put any kind of obstacle. And the security system of Bitcoin is so tough that even the owner himself cannot access his wallet without the seed phrase.

Honestly this monitoring process of this banking system makes me annoyed every time. In order to ask a thousand questions while withdrawing my money. It seems as though it were neither mine nor the bank's own money. But here Bitcoin has really gifted us true financial freedom, and this thing you had explained in a beautiful way in your article.

But there is another side to self-custody or controlling my fund that needs to consider properly. As you told us regarding the seed phrase. Although nobody else could prevent your account in bitcoin, if you commit any mistake regarding seed phrase yourself, no customer support could help you in recovering those funds. Alongside financial freedom, comes great responsibilities too. Besides, the common men are used to keeping trust upon bank for centuries.

When a person holds their hard working income as an asset in Bitcoin they must be responsible. The larger the amount, the more dependent a person is on their Bitcoin holding the more responsibility they have to keep their wallet safe. When I initially hold Bitcoin, I usually wrote down my seed phrase on my smartphone and stored it. As my holdings grew over time, I became more careful. I no longer write down the seed phrase on any device. I don't even keep the wallet I hold online on my phone.

I have written it down on paper and kept a few copies in a different place, so that it is not lost in any way. There are a few options as a backup. When Bitcoin makes a holder a personal bank, that Bitcoin holder must be responsible for how he stores his seed phrase and keeps his Bitcoin holding safe.

Another thing is that if your family member does not have access to it in your absence in the future, then the Bitcoin may be lost forever . So it is better to inform a trusted member of the family so that they can access it in the future.

[DYOR+BTC]

@op, I know you love Bitcoin, i love Bitcoin too and many of us here in this forum also love Bitcoin. But I partly do not agree that tbe traditional banking system is entirely slavery. It could be anything but the word slavery is an over exaggeration.

I believe the OP still uses traditional banks, Bitcoin will always be an alternative to fiat. Regardless, there will be an increasing number of adoption, that doesn't change the fact that banks are operating in their own lane, and Bitcoin continues to serve its purpose, both can coexist and be useful when we need to use one over the other. Banks are not slavery, neither is Bitcoin going to replace banks, both are important to me for managing my finances.

Yes both are two different separate institutions with almost same goal but different in its operational strategy. Apart from separate operational strategy,  bitcoin serves as an investment institutions with 100 percent certain probability of life transforming option from being dependent to a stable financial position.
Be it as it may, I  still support the opinion that both can never be replaced by each other because they operate in different ways with separate polices. Among all we can not compare both because bitcoin is miles away from traditional banking systems in profit generation  and other relevant options desired by humans.

[Hewlet]

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.

I like that analogy. very concise and yet straight to the point. the processes you are expected to undergo to retrieve your cash from the bank makes it look like the bank is doing you a favor by using your funds to run business. they are the ones that are benefitting from the money you kept with them but you are the one that is at their mercy and will  have to pass several checks just to get access to your money.

though with mobile banking system, they have been able to work on it greatly such that the stress of going to a physical bank has been reduced to a large extent. in so many regard, bitcoin still stands far ahead of the fiat and the centralized banking system.

[SuperBitMan]

It is a coincidence that I watched the video just some minutes ago on YouTube: https://youtube.com/shorts/fuHaZIxS09s?si=WAqWnWjSFQ39v1Km

Good comparison with Bitcoin, banks would be so easy for you to deposit but when you withdraw they will give you a headache with a lot of requirements. That system is the main reason why Bitcoin was born, so f* them.

You are right, i believe things would have been more difficult if bitcoin was not created in this world, through the creation of bitcoin other cryptocurrencies were created, and all these coins have been very helpful for money transaction.
When you have bitcoin in your wallet, you can decide to take it anytime any day without stress.
The time is coming when cryptocurrency will be more popular, and bitcoin will be used for little daily expenses that is run in homes.

Banks are actually fucking stressful.

[spiker777]

It is a coincidence that I watched the video just some minutes ago on YouTube: https://youtube.com/shorts/fuHaZIxS09s?si=WAqWnWjSFQ39v1Km

With bitcoin you will have control on your money (bitcoin) completely, unlike going to bank to deposit fiat easily but hard to withdraw the whole fiat. They told the man that it will take 24 hours before he can be able to withdraw his money in bank.

In my country there is withdrawal limit, if you want to withdraw above the limit, the bank will make it not possible until you request for a special account upgrade

People have to understand that the money is only yours as long as you have it. once you deposit that to a bank. the bank owns the money now. and they will give any execuse possible to prevent you from withdrawing the money you deposited by yourself.
that is why Satoshi and team build bitcoin. so everyone can have full authority over their money. Bitcoin is the only way a person can control their money. but choosing the right wallet is still very important in bitcoin. Not your keys. not your money. remember this.

[JoyceBTC]

@op, I know you love Bitcoin, i love Bitcoin too and many of us here in this forum also love Bitcoin. But I partly do not agree that tbe traditional banking system is entirely slavery. It could be anything but the word slavery is an over exaggeration.

I believe the OP still uses traditional banks, Bitcoin will always be an alternative to fiat. Regardless, there will be an increasing number of adoption, that doesn't change the fact that banks are operating in their own lane, and Bitcoin continues to serve its purpose, both can coexist and be useful when we need to use one over the other. Banks are not slavery, neither is Bitcoin going to replace banks, both are important to me for managing my finances.

I don’t think op was trying to say bitcoin will replaced banks, maybe he didn’t use the right choice of word that’s why he was misunderstood. from the instagram video, he was trying to explain more reasons why adopting bitcoin is important and of advantage. We all use the traditional banks and it is true that we don’t have full control over our money unlike bitcoin where it is decentralized and we have control over our money. Putting money into our transitional banks can be so easy, but most times getting your own money out becomes an issue that you don’t even have control over, so op is right and regardless the traditional banks are still important to us.

[traderethereum]

The bank grinds the money into other things so they can make more profits. If customers wants to withdraw their money, the bank will say they need time to get the money to us.

"Hello, that is my money I want to take it back but you asks me to wait for a moment" but that is what happens in real. We can't directly take our money as fast as we deposit to them but we need time to wait.

Besides that, banks need many verifications from us and not as simple as the first time we want to deposit to them. Well we can't do anything and that is the risks (if I can say that) we get if we want to keep in the banks. Not to mention about the fee that we must pay to release the money before the time finish.

[Catenaccio]

The bank grinds the money into other things so they can make more profits. If customers wants to withdraw their money, the bank will say they need time to get the money to us.

"Hello, that is my money I want to take it back but you asks me to wait for a moment" but that is what happens in real. We can't directly take our money as fast as we deposit to them but we need time to wait.

Besides that, banks need many verifications from us and not as simple as the first time we want to deposit to them. Well we can't do anything and that is the risks (if I can say that) we get if we want to keep in the banks. Not to mention about the fee that we must pay to release the money before the time finish.

If people are fearful about such situations and requirements from banks, they must have similar concerns with cryptocurrency centralized exchanges. It's quite hilarious that people feel safe or at least don't have concern about sudden KYC requirement, and fund stuck on cryptocurrency centralized exchanges. Or they know about all such risks but want to enjoy higher trading volume and more trading pairs on CEX, then ignore all such risks.

With such people, if they are too noisy and talk too much about risk of banks, it's like they slap into their faces by using CEX and store their cryptocurrency in accounts on CEX.

[AVE5]

That Instagram video depicts the advantage Bitcoin has over the traditional financial system, with that video you need not say much again to describe what you as an individual will gain from Bitcoin.

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.

I can best describe bitcoin as a digital and decentralized currency with the potential of its volatility being an asset.
Particularly, having the privilege of being in control of your bitcoin the processing transactions across the borders without permission from the third parties.
It is also limitedly secured from varieties of physical threats.

The concepts of the traditional financial is seem entirely different that with its limitations across the borders, regulated that individuals don't have full rights over their funds.
And so also, it is vulnerable to physical threats due to its physical tender and can easily attract thefts due to its exposure with no potentiality to store values over inflation.
And it is all hopeless for users to keep their privacies in the traditional concepts while bitcoin gives you the privilege to keep privacies.

[Dunamisx]

There are many reasons why we must consider Bitcoin adoption, but when you see people argue that Bitcoin is not relevant, you won't have to blame them because not everyone knows about Bitcoin. There are other categories of people who only want to discourage others from investing in Bitcoin because they have developed a lack of passion for it and will support every other person not to adopt Bitcoin for no reason.

This is why we have to consider learning about Bitcoin before we even say anything concerning it, while no reasonable person will discover all that is embedded in the Bitcoin network and still argue about adopting Bitcoin.

[L E G E N D A R Y]

I don’t think op was trying to say bitcoin will replaced banks, maybe he didn’t use the right choice of word that’s why he was misunderstood. from the instagram video, he was trying to explain more reasons why adopting bitcoin is important and of advantage. We all use the traditional banks and it is true that we don’t have full control over our money unlike bitcoin where it is decentralized and we have control over our money. Putting money into our transitional banks can be so easy, but most times getting your own money out becomes an issue that you don’t even have control over, so op is right and regardless the traditional banks are still important to us.

I think the misunderstanding starts when people begin to treat Bitcoin and the centralized or banking system as though they were meant to be competing for the same thing when in fact they both have their respective roles they play in the financial markets. Bitcoin offers a much greater control over one’s funds without depending on the traditional banking systems but still without making the banking system look completely useless, because the banks still provide services that majority of the people still rely on for their day to day life. The whole idea of Bitcoin is having an alternative for people choose from when they get tired of sharing the control and responsibility of their funds in the hands of a third party.

[moneystery]

That's why Bitcoin is called an alternative to the current financial system. Bitcoin gives people the ability to manage their own money and transact freely without needing anyone's approval. Whenever you need it, you can transact your Bitcoin; there are no business hours or the need to go to a branch just to confirm your transaction. Whenever you need it, it will be available to you.
Anyone who wants financial freedom needs to own Bitcoin. However, this also requires self-custody, as some people mistakenly assume that storing their Bitcoin on an exchange is just as safe, but that's not the best way to store your Bitcoin. Choosing a self-custody wallet is the key to achieving "independence" from the traditional financial system, as Bitcoin offers.

[sotelorene]

With bitcoin you will have control on your money (bitcoin) completely, unlike going to bank to deposit fiat easily but hard to withdraw the whole fiat. They told the man that it will take 24 hours before he can be able to withdraw his money in bank.

In my country there is withdrawal limit, if you want to withdraw above the limit, the bank will make it not possible until you request for a special account upgrade

You are right but you have to be specific on what you are saying so that some newbie will understand your information, you can only have control on your asset which is Bitcoin only if you save or store it in a wallet and not in exchange because exchange is like a crypto bank and there are rules and regulations and some exchange also have limit of withdrawal like our Fiat banks and they can restrict someone from withdrawing if there is any technical challenge. Just like what happened to Bitget few days ago, some people where  unable to access their asset untill  everything was restored. So the only time one can not go through all these is if they keep their assets in Wallet.

[BIT-BENDER]

That's why Bitcoin is called an alternative to the current financial system. Bitcoin gives people the ability to manage their own money and transact freely without needing anyone's approval. Whenever you need it, you can transact your Bitcoin; there are no business hours or the need to go to a branch just to confirm your transaction. Whenever you need it, it will be available to you.
Anyone who wants financial freedom needs to own Bitcoin. However, this also requires self-custody, as some people mistakenly assume that storing their Bitcoin on an exchange is just as safe, but that's not the best way to store your Bitcoin. Choosing a self-custody wallet is the key to achieving "independence" from the traditional financial system, as Bitcoin offers.

Permit me to say that Bitcoin is a better alternative to the current financial system, the video shows the flaws of the financial system, it is so bad but we have just before now been tolerating it but Bitcoin brings in more than an alternative it's a prayer for financial system answered that's why it is worth checking out.

[Itz-prisigold]

Permit me to say that Bitcoin is a better alternative to the current financial system, the video shows the flaws of the financial system, it is so bad but we have just before now been tolerating it but Bitcoin brings in more than an alternative it's a prayer for financial system answered that's why it is worth checking out.

I totally understand the point you're making, most especially about we getting used to so many flaws in the traditional system, just because we have been living with them for too long. But another thing I will say is that we shouldn't see Bitcoin as a perfect replacement for everything though, I feel it's better to just view Bitcoin in a more realistic way.

Though Bitcoin solves some problems in other ways, but it's important to not overlook the fact that having Bitcoin carries a lot of responsibility, as you are fully responsible for protecting your money.  To me that's one of the things that makes Bitcoin interesting because it offers people a choice, rather than everybody having to rely on one system.

[KingsDen]

That's why Bitcoin is called an alternative to the current financial system. Bitcoin gives people the ability to manage their own money and transact freely without needing anyone's approval. Whenever you need it, you can transact your Bitcoin; there are no business hours or the need to go to a branch just to confirm your transaction. Whenever you need it, it will be available to you.
Anyone who wants financial freedom needs to own Bitcoin. However, this also requires self-custody, as some people mistakenly assume that storing their Bitcoin on an exchange is just as safe, but that's not the best way to store your Bitcoin. Choosing a self-custody wallet is the key to achieving "independence" from the traditional financial system, as Bitcoin offers.

We have all agreed that bitcoin is good and we have all known the countless benefits of owning bitcoin and we also agree that self custody is the good way to go as far as bitcoin is concerned, but there's a challenge which we all understand. That challenge is responsibility or being willing to follow the way of self custody.

The problem people always encounter is the unwillingness to embark on self custody and some that follows the way of self custody do not do it well. This is where problem lies. Anyone interested in self custody must be willing to learn and practise. But many of us here are just interested in quick profit and always do things the wrong way.

If everyone or every new person in bitcoin, were taught was is in Op and they follow up accordingly, there wouldn't be much problems afterwards. Just that some learnt, some didn't and some learnt but couldn't learn.