Quote from: jrrsparkles on September 14, 2022, 05:12:16 PM

Quote from: yazher on September 14, 2022, 10:28:29 AM

As I looking at some news today, I saw this one that has the same problem with the other banks all around the world where they sometimes restrict you to get your own money and they ask you for some valid reason which not all people needed to do because first of all, it is his/her money. Some people are forced to do this stuff when if only she had bitcoins, she wouldn't have put her life in danger or anyone else. she could just withdraw wherever she wants.

For how long should people understand the importance to have bitcoins for emergencies such as this one?

https://www.facebook.com/watch/?v=607786560854535

Quote

Depositor stands on a desk holding a gun inside one of Lebanon’s local banks as she demands the release of her money to pay for her sister’s cancer treatment.
Video from: marwanmatni
-Arab News

First of all, the Fiat money is the property of central banks of their respective governments so its not your money. And banks has to follow such regulations because if everyone wants to withdraw their money from bank there will be actually no money for everyone to withdraw and the question raised is what actually make sense. Why we need to trust the paper issued by banks to have value and we have to follow lot of procedures to handle our money?

But as of sudden bitcoin can't change everything, first of all the payment infrastructure is needed then only we can pay by bitcoins or any other cryptos.

The deposit that we do in banks is a special type of deposit where the former has to respect their obligations. This is what we call a 'fiduciary relationship' where the banks must honor their obligation of giving back the money that you just deposited because that is your property. You trust the bank for safekeeping and the bank will have this obligation that they have to fulfill immediately.

That is the problem of banks- sometimes regulations from the main branches may halt your deposit for some reason. That is why BTC was created in order to experience financial freedom where no one has control over your money.