I saw a topic that says, "Who says BTC has no future "
Then a known man called Eugene Fama was mentioned as one person who doesn't think BTC has a future.
This topic made me remember something that happened last year.
I am a businessperson that deals in cash and has a good relationship with the tricycle riders around my business area.
Most of these people give me cash to deposit for them, while sometimes I ask them for the cash.
There was this Hausa man I spoke to about cash; his response kept me mute and questioning.
I told him to give me his cash at the end of the day so I can help him deposit it. For a good saving method, which I think was actually the best for him.
His response was, "I don't use banks."
How? Why? How do you manage your finances without saving them in a safe space...? He smiled at me and said, I know how to manage my money. I don't like banks because of their wahala, and I can package it down to North.
I was surprised, but that's the truth. He is actually living his life without believing the bank is the best place to save his money. While more than 90% of the people around him believe the bank is the best, he is living his life as free as he wants.
So people believe in what works for them.
People still go around believing in bank compares to BTC
Without the knowledge that BTC can help them become as free as they want, just as this man carries cash around.
Cash is deflationary, and BTC is increasing in price.
Point of correction my friend, because there are two distinctive difference between bank and Bitcoin, and they all has their merits and demerits, because while bank enables you to execute transaction anytime, at anywhere without carrying bunch of cash from one place to another, Bitcoin on the other hand helps you to have full control over your funds in an electronic way, since it is a digital currency, and for you to be able to buy or sell Bitcoin you need a bank account as a medium to execute your p2p transaction. Hence, in summary, it means that having a bank account is not bad, but leaving a huge sum of money is what is not advisable, as such huge sum are meant to be kept in Bitcoin in a secured wallet.