Quote from: Asiska02 on September 18, 2022, 07:06:32 PM

It's really terrible that Beirut's citizens don't have access to their money because they don't have complete control over it; it resembles a dictatorship where you are forced to follow instructions on when and how to spend your money.

This is the risk of saving your money in bank. Even it's your hard-earned money, you dont have full control over it and it's up to the bank if they will allow you to withdraw your money because they can come up for many reasonings to stop you for doing so. Like this situation of Beirut citizens, a woman were coerced to do this act in order to get money from her account. Worse case that can happen to anyone who's desperate.

Quote from: Asiska02 on September 18, 2022, 07:06:32 PM

Even if you already own bitcoins, you might be unable to use them without first exchanging them for fiat, particularly if you live in a nation that does not recognize bitcoin as legal tender. However, compared to a bank, the security associated with storing your money in bitcoin is superior.

Indeed. You still need centralized platforms (bank, exchanges etc.) to cash out your Bitcoin. However saving your money in Bitcoin is much safer because you're the one in control and you can keep it for long period without worries that your account might get freeze or stolen. As long as you're using a non-custodial wallet and you're holding your keys then you would be at ease.

Nevertheless we still need banks but dont be complacent that your money is safe.