Quote from: Gallar on September 19, 2024, 01:49:58 PM

Quote from: Call_Me_Guru on September 16, 2024, 02:53:38 PM

~Snip

Bitcoin is boss, not by mouth only, you see what fiat cost that innocent guy trying to do a legitimate trading business. His money was useless for him by fiat bank arrangement, no one knows where the actual fault came from due to too many parties involvement and the banks will do it authoritatively, they set the price and charges as they like on your own money. This can't happen with Bitcoin, all transactions are transparent, you can easily know where the fault comes from and less than $0.3 will complete the transaction in minutes.

The bank transfer must have delayed his transaction for at least two days only to realize that almost €100 was charged for transferring €1,000 to the beneficiary account. Fiat is just silly, banks are crook and feeding fat on people's money.

If we talk about transaction fees, bitcoin is indeed cheaper than the transaction fees applied by the banking system. However, you also need to remember that the price of bitcoin often experiences quite significant increases, as has happened in the last few months. So at certain times Bitcoin transaction fees can also become quite expensive due to transaction congestion in it. Apart from that, the transaction fees applied by the banking system from the past until now are quite expensive. But the advantage of the banking system is that I know the costs won't increase too much each year. So even though the transaction fees are quite expensive, the difference is that the transaction fees are quite stable. Therefore at this point I would not say that the banking system is bad, and bitcoin is better. Because both also have their respective advantages and disadvantages. Maybe if we want to send some money across countries, Bitcoin is definitely the most appropriate solution to use. But if, for example, we want to send money within our own country and not across borders, I don't think there's anything wrong with going through a bank too. Because actually, if we think deeper, banking also plays an important role in our lives. Because for example, if we were to sell bitcoin, of course the money would definitely be withdrawn into a bank account. Maybe for countries that have legalized bitcoin, such as El Salvador, you can directly carry out transactions without banking, because in El Salvador there are many shops or shopping centers that accept bitcoin payments. But for people who live in countries that have not legalized bitcoin as a transaction tool, of course to be able to withdraw their money they have to go through a bank first. So the point is that currently bitcoin and banking will always be equally needed by the majority of humanity.

In my experience, using bitcoin is actually more convenient when we use it for international payments or cross-border money transfers. But when it comes to paying bills for everyday needs, even at its most stable, the bitcoin network is no match for banks. I don't know about other countries, but when using a bank in my country, you will be 100% free of domestic transactions, from card issuance to transaction fees, and annual fees...all are free. Not to mention the transaction will be confirmed almost instantly. Bitcoin is not perfect and banks are not as bad as OP says.

People often talk about El Salvador, it is true that they have adopted bitcoin as the official currency of the country. But don't forget that USD is still being used alongside bitcoin there, and we have no evidence that people in El Salvador use bitcoin without using USD.