If you don't receive your salary paid in bitcoins and if you can't use your salary everywhere you will still need to use a bank.
Otherwise how do you plan to receive your monthly cheque or how do you plan to pay the recurring payments to pay the bills (water, electricity, ISP, phone, insurances, taxes, landlord...)? If you can not pay the groceries how will you pay the cashiers?
How businesses could be created if they can't borrow money from the banks? It's what makes an economy growing, create jobs, etc What about the average Joe using his interest account to earn a small profit annually? He won't have any opportunity. The amount collected with the interest accounts from banks is also used on the local economy, to build houses for the average class for example. The average Joe won't be able to borrow money to buy a car to find a job, or to build his own house.
Bitcoin isn't looking to replace the banks but rather to be an alternative, as a second layer (or as the first, as you wish)
If the OP doesn't work, has his own fortune, then it's possible for him to live without banks. But like with the things you mentioned, banks are here to stay.
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BoardEconomics
Re: Corona Virus and The Effect on The Markets
by
Electric4
on 31/01/2020, 02:36:32 UTC
I don't think it's having any sort of effect on the markets. It would have to be ten times worse in terms of spreading. It has to be bigger, like a war.
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BoardEconomics
Re: Crimes involving crypto have risen
by
Electric4
on 06/01/2020, 02:00:37 UTC
Is that the price of when the crimes took place, or after the Bitcoin boom. For example Bitcoin stolen at $500 would be worth 14 times more today.
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BoardEconomics
Re: What if crypto vanishes?
by
Electric4
on 28/12/2019, 00:58:53 UTC
This is more of a fantasy kind of question. Unless there was some sort of catastrophe that ended society as we know it and electricity, you will need for every person in the world to cooperate in not using or create new cryptos.
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BoardEconomics
Re: Crypto vs stock markets
by
Electric4
on 19/12/2019, 00:53:04 UTC
The question is not about what's more profitable. Crypto is much volatile. But what you should worry is how knowledgeable you are at trading. It's irreverent if you're just going to make mistakes either way.
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BoardEconomics
Re: What’s the SINGLE most valuable benefit for you in Bitcoin and why?
To me is that it can be anonymous. That if you just don't want certain entities not to know how much money you have, you can have it on a piece of paper, or in your computer.
but what if they will search your name or your bitcoin address on a bitcoin explorer ? they can still see your balances and transaction because bitcoin is not that anonymous . if you want real anonimity then go on private coins like monero . by the way , the most valueable benefit that bitcoin gave me is profit because i use my bitcoins as an investment tool and i can earn regular profits with it but aside from that , i also use my bitcoin as a payment method when i need to gave money for my family as they also have a bitcoin wallets installed on thier phone and they are far away from me .
That's why I said that it can be unanimous. Particular for a regular person that's just trying to stay private. As apposed to a high target person who the feds are willing to spend a lot of money and resources tracking.
For example if a person loses their job and is applying for food stamps. The food stamps people will know how much you have in your bank account, but not beyond that.
But yeah, privacy coins for the win.
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BoardEconomics
Re: What’s the SINGLE most valuable benefit for you in Bitcoin and why?
by
Electric4
on 29/06/2019, 02:05:45 UTC
To me is that it can be anonymous. That if you just don't want certain entities not to know how much money you have, you can have it on a piece of paper, or in your computer.
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BoardOff-topic
Re: Life and destiny
by
Electric4
on 26/06/2019, 06:52:39 UTC
Life is not destined. You have the choice to lead your life in unlimited different ways. Really think about that. If you don't take care of yourself, then a girls might not be attracted to you. If you don't work hard, then you won't get the "possible" benefits from it.
Great to see PRiVCY listed at CMC, partnership with Testament and many new added fitur in web wallet. So proud to be one of the community of PRiVCY, great job team.
Community is growing day by day, this is the most important thing actually. A lot of new users are coming to our project, and Testament Partnership will help us a lot to spread our project everywhere.
I would love to see a constant 1000+ airdrop participants.
The most important number in this graphic are the new users that join PRIV, week-by-week. Of course the vast majority comes in in the first couple of weeks. It is encouraging to see ~50 new users every week. But what this graph also shows is that half of the members who joined airdrops (~2,000 different wallets) did NOT qualify last week (they either did not stick around or simply did not qualify).
Let's spread the word and keep that new user metric up
For some reason I was thinking we were getting like 550 - 600 participants. I hope this week we will see 1000 participants. If not week 11 should bring us a lot of knew users because there's 750,000 privcy up for that week. But what worries me is the 5k requirements and some people might give up if they don't reach it.
Hi, where can i check if i'm elegible for join you guys??
In the OP.
To be eligible you need at least 28 activity points, and you only have 18 at the moment.
Also, before today your last post was on the 7th of May, and they will probably view that as a recently active account, and not accept you for that.
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BoardEconomics
Re: G20 releases official statement on cryptocurrency
by
Electric4
on 23/07/2018, 17:22:30 UTC
I just find it funny that they call it crypto assets. Trying to get away from it being a currency. They seem somewhat open minded. But I imagine that some people here might take exception to them saying things like "consumer and investor protection, market integrity, tax evasion, money laundering and terrorist financing."
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Re: Why are some countries still so rich and others so poor
by
Electric4
on 20/07/2018, 03:54:22 UTC
Really because of exploitation, and when you're down it's hard to crawl yourself up. Then you have entities like The World Bank, which is evil, putting poor country into more debt, by pretending to be helping them out.
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BoardSpeculation (Altcoins)
Re: The Ultimate Sleeper coins not in the top 100 and under 10 cents !!!
Here is a list of my High Risk / High Reward coins that I am invested in and think have a chance for Great Returns let me know your thoughts and coins that you like NOT IN THE TOP 100 and under 10 cents
A summary of the coin would have been cool, but I'll check them out. It's hard to research all the coins out there, and it's even harder when you don't have any friends that can give you tips of coins that they researched. But assuming that you did do your research and have reasons to believe, then this is just as good.
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BoardSpeculation (Altcoins)
Re: bitcoin back to $500 is likeley
by
Electric4
on 17/07/2018, 05:25:53 UTC
I think the price will not go lower than what it cost miners to mine in electricity. Last I heard it many times more than $500 at the moment. So no it will not go anywhere near $500. Unless the price of electricity drops significantly.
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BoardAltcoin Discussion
Re: Bounty Campaign are wastage of time?
by
Electric4
on 10/07/2018, 05:55:53 UTC
I don't think it is. You get to visit the site more and learn by participating in discussion. It's been good for me so far.
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Re: Is Your Money Safer In Crypto than at the Bank?
by
Electric4
on 08/07/2018, 03:25:42 UTC
I don't think so, unless you're trying to hide it from your a wife who's trying to divorce you. Then your money might be safer there.
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BoardEconomics
Re: Do you think bitcoin redistributes wealth or just makes the wealthy richer?
by
Electric4
on 03/07/2018, 23:54:50 UTC
I think for something to redistribute the wealth it has to be a system that benefits those it's meant to affect. Say the poor. Bitcoin is more or less equal opportunity. A choice, one can choose to invest if poor, and have made millions if it was done years ago, or one could be super rich and not invest and have gotten nothing from it.
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BoardEconomics
Re: Possible effect of potential billionaire investor?
by
Electric4
on 02/07/2018, 01:17:14 UTC
I don't know how much this relates, but if Bill Gates takes out a couple of billions from Microsoft stocks, wouldn't that greatly impact the Microsoft stock?
