Re: You should never trust banks

I don't have any reasons not to trust banks because as far as I know, banking storage of money is reliable and many business owners deposited their assets on a savings accounts they have for fiat cash money. Well if we ignore trusting banks its not worth earning btc because we can use fiat cash money, to exchange it from digital currency to fiat currency by using online wallet which has an option for bank cash-out.

Yeah that's what banks are something which are more thana century old and j think this person is thinking banks should be replaced by bitcoins or some other alternative which is too much. But I don't think bank is the only way to get bitcoins I met a person yesterday who would give me his bitcoins for my phone.

To date, the bank has no alternative. You say it yourself. So there is no alternative and is not. With bitcoin lot of questions and there will be many problems as your desires will be fulfilled. The first is the legalization and the effective recognition of the bitcoin currency, the second control operations and that everyone understands what it means. Bitcoin will lose benefits.

If someone will now the ways of taking care of their bitcoins then he will not need any banks for keeping his money/bitcoin in banks. That is why blockchain on its dashboard tells be your own bank. The banks are better but it will really lack us with some favorable features of bitcoin.

Yes, it is better not to use the services of banks. They take a lot of money for services for which using bitcoin can not pay at all. In addition, banks deprive us of anonymity

For me, I will still use the services of bank, they are good when you need them like for saving money, just save your money with them if you don't want to use it. Also they are good with lending once you built up a good relationship with them, you won't be having hard time to ask them money if you need so.

A bank's purpose as of this present moment is just really about saving your money and not gaining anything from it because we all know that the interest right now is the lowest of the low. Also people complaining about the fees on using services of the bank, I think it is better and cheaper compared to buying your own Personal Security Safe which can cost you thousands of dollars ( the security/protection you are getting in a banks is better compared to keeping your money at your home). Also some banks offer collateral if a bankruptcy ever happened which is a nice feature that protects your money being lost and also we can take advantage of creating several bank accounts with different banks so that we can diversify and maximize the collateral that each bank is giving.