Re: "Be your own Bank with Bitcoin" - A reminder why this is so important!
https://www.reuters.com/world/middle-east/woman-holds-up-lebanese-bank-13000-her-own-money-advocacy-group-says-2022-09-14/
" One woman with a gun and some associates briefly held hostages at a branch of BLOM Bank (BLOM.BY) in the capital Beirut, before leaving with more than $13,000 in cash from her account.... "
" Lebanon's banks have locked most depositors out of their savings since an economic crisis took hold three years ago, leaving much of the population unable to pay for basics. "
Let's just imagine this scenario where you have to "rob" a Bank to get access to your own money that you deposited with them. We think these things are impossible, but it is happening and this is a reminder that it does still happen.
Bitcoin allows you to be your OWN Bank .....and it allows you to have access to your own money, without any intermediary having the power to block it. Just make sure that you have sole access to your Private keys.
" One woman with a gun and some associates briefly held hostages at a branch of BLOM Bank (BLOM.BY) in the capital Beirut, before leaving with more than $13,000 in cash from her account.... "
" Lebanon's banks have locked most depositors out of their savings since an economic crisis took hold three years ago, leaving much of the population unable to pay for basics. "
Let's just imagine this scenario where you have to "rob" a Bank to get access to your own money that you deposited with them. We think these things are impossible, but it is happening and this is a reminder that it does still happen.
Bitcoin allows you to be your OWN Bank .....and it allows you to have access to your own money, without any intermediary having the power to block it. Just make sure that you have sole access to your Private keys.
If we compare a bank to Bitcoin, it is quite a big difference because first of all Bitcoin is not a company while a bank is a company. But if we also look at banks and Bitcoin, there is also a risk when we invest our money.
But the percentage of risk in the bank is higher because it can be robbed by exploitative people like thieves or the bank suddenly closes without us knowing that it is a bankrupt bank. Whereas with Bitcoin there is also risk so it is not as high as a regulated bank. Because the only risk that I see with bitcoin is that if you misplace the private key, seed phrase, or password, you will not be able to recover your balance from your bitcoin address, but if you can hide it correctly and it will be good at any time. is that you can withdraw your bitcoin to exchange it for the fiat currency of your country. And the percentage is also a big chance that you will get depending on the future movement of the cryptocurrency market.