Quote from: stadus on Today at 02:51:09 PM

Quote from: BitBakerr1 on February 15, 2025, 11:45:27 PM

I heard about something that happened some time ago where a man won a huge some of money in gambling and he decided to save the money in a particular bank the money was there and later on the bank was closed down and he had to go through a lot of procedures to get his own money he was paid half of the money with promise of completing the payment soon, this won't happen if you saved with Bitcoin.

It sounds like that bank seems a bit shady. I'm not too sure about their process for handling a bank closure because in our country, when a bank shuts down, an insurance agency steps in to cover the deposits. This insurance only pays up to a specific maximum, around $8,500, so if a depositor has more than that, only the max will be refunded. I'm really curious about why he was only paid half and that the balance will be completed soon; that process doesn't seem to follow the standard.

Anyway, if we put our money into buying bitcoin, we're likely to be profitable since bitcoin is one of the most profitable assets when you look at its history year by year.

I am also a little confused by what the OP said, because as you said that there will be insurance that can be responsible for returning or helping our money to return. And in the process it seems so easy for the Bank to go bankrupt, I mean before that actually happens, customers will start withdrawing their money before bankruptcy actually occurs.
Also here there will definitely be a role for the government, because after all this is in the country and there will definitely be certain regulations that can protect its customers.
indeed by investing in bitcoin, we will not experience this kind of thing, unless we are not careful in storing bitcoins.