Post
Topic
Board Beginners & Help
Re: Is Bitcoin be able to Kill the Bank-System ?
by
metroickha
on 30/12/2013, 14:10:57 UTC
The answer is no, because Bitcoin's value is linked to USD/EUR or other currencies.
If this link did not exist, then the bitcoin has no value.
Imagine you can no longer exchange your bitcoins for USD/EUR or orther currencies.
How will you know how much your car is worth in bitcoins? Would you sell your car for 20 bitcoins, knowing you cannot exchange them for USD/EUR?
When we trade, we trade in $, even if it's just in our head. You would not trade a normal car for a normal bicycle, because the value of the two objects are not the same in $.

I hate banks, but yet we still need them.
If you send bitcoins to the wrong address, then it's lost forever (or someone else is happy). You will never get these bitcoins back.
With banks, you can just cash back your money.

If bitcoins are made to avoid taxes, then how does a country pay for his bills? Healthcare/Education/Mobility Network etc.

Bitcoin is not a solution to a fair and equal world. It makes the big hardware companies more wealthy, some other people more wealthy, and all the bitcoin-hungry-people-who-are-too-late less wealthy.

But that is my opinion.