Banks vs Blockchain technology. Where is safer for money savings ?

[Interface User 1070]

For me this two parties is safe. But the safer is Blockchain because it uses some cryptography and hashing techniques to secure its private data.

[avatarkiyoshi 270]

On 12/20/2019 at 7:31 AM, Michal said:

I read about cryptocurrencies news, social media and other side and every one this place can tell me "That it is gold of the XXIst for investing money.

Gold, ok I understand this as a symbol of profit or some security for the future without worrying (exaple) about the total loss of money which my savings money from family generation to generation.
Apparently, gold can never drop to 0 in its value, because everyone wants it, has the applications humanity needs, is beautiful and is not easy to find
or bring it out. Just why they compare bitcoin to gold while being aware of the 2017 story when Bitcoin had a huge price drop in just a few moments. So why do they compare investment in it as in gold?

Is Bitcoin, or will it always be, as surely an investment as gold 50 years ago?

Why Bitcoin considered as Digital Gold is because it's demands, supply and the price. Of course Bitcoin is volatile which sometime the value will turn into zero, but look at the current news about Bitcoin, this innovation attracted more people even the governments.

 

Your thread does not match the title. If we talk about bank vs blockchain, we talk about the security.

Bank actually is safer if you don't want to be complicated with how to secure your money, they have an insurance. But your money in the bank is just a number, there's no money there, that's why bank is centralized.

Blockchain is decentralized and transparent, but it's trustless system, you need to know how to secure your money.

[Dmasked 1840]

Banks also includes risks of bankruptcy, robbery and fraud. Likewise crypto wallets and exchanges are also prone to hacking, scams and losing value. If you store money in cryptocurrency in longrun then either you make a good profit or incurr huge loss.

[Rifrach 207]

Blockchain is a platform in a virtual world, it may not be safe. I prefer blockchain because the farther you keep your savings. I think banking is safer than blockchain.

[JuliaNedz 25]

I think the bank is still safer against Blockchain technology. Because at Blockchain, our account can be hacked and we can lose all our currency.

[Jbetancourt532 17]

Well it all depends on how you want to save it because the bank will always be worth the same and you will have little interest, if you pass it to some fiat currency there may be one that generates a little more interest than a bank

[Calvinpriva 17296]

All are safe but bank is more safe because their money its being controlled and protected by many people but in crypto there is no one who will protect it for you, hackers can take it easily.

[hamo86 214]

for banks they save your money instead of you and they are forced for that but they must know every thing about you 
for block chain you save your money as you want but the safety for your money is on yours but no one knows any information about you 
so you need to choose the better for you very well 

[crypto-xcoin 6]

On 12/23/2019 at 2:55 AM, Wijayafajar06 said:

in my opinion to save money on the blockchain because there are no transaction costs while in the bank there are transaction costs, only the weakness of the blockchain is less secure because it can be hacked while the bank is difficult to hack,

in my opinion to save money on the blockchain because there are no transaction costs while in the bank there are transaction costs, only the weakness of the blockchain is less secure because it can be hacked while the bank is difficult to hack,

Blockchain is a safe technology compared to traditional banks, so I fear for those who use it, provided they understand its specificity

[misterbody1 3]

Banking machine is safer than blockchain system to maintain your money because in blockchain your account can be hacked easily and you'll get nothing however in banking device financial institution provides you full protection and if your money tansferred to different account financial institution can take that cash back.

I assume no banks are safer in phrases of investment systems than cryptocurrencies, but if you also need the funding platform that offers huge profits then i advise you invest into cryptocurrencies.

For months they pretended to endure, then went on the counterattack. After attempting to apprehend what blockchain changed into and the way it worked, in order to replicate it to provide a similar carrier to its customers, the banks declared warfare on bitcoins. And to do this they used Bri, the International Bank of Settlements: the oldest international financial institution, the financial institution of imperative banks. I surely suppose that from next yr we will begin to see the start of this manner of converting the monetary system, because bitcoin is frightening and fighting it and stopping its spread on a global stage is the handiest device to sluggish it down or at least that's what they believe

[Body1998 5]

I think it's a great deal safer on the way to save you savings in the bank than in the blockchain. But if you need to make investments your money and make it grow, I more decide upon blockchain as it has a higher value of exchange than in the banks.

Bitcoin is both desirable for cash saving as well as for money growth. Because price will constantly grow with time. Hence accept as true with in crypto.

[Body1998 5]

I have to mention in which wallet you may save the cryptocurrency in an effort to be your solution because if you assume in that way bank can be the safest right now but crypto pockets like trezor and nano ledger s is maximum safest for crypto to keep and a few exchanges like binance or pinnacle maximum exchanges has most secure region to maintain your crypto

I think bitcoin is a top notch way to shop money. Where there is no tax in it and its use isn't difficult. No ready in line like a bank. Yes everything is made easy.

[Banito23 216]

For the newbies to understand me more clearly, blockchain holds every bit of transactions of cryptocurrencies, why banks holds the transactions of Fiat currencies be it local or international. But for the purpose of this thread, I will say that banks can offer you interest on your saved funds while blockchain never.

[teminalibug 309]

Banks take freedom from you but assures you insurance, blockchain offers you freedom and maximum security, so it is real up to you.

[luisecastillor 9]

The banking system is safer than the blockchain system to keep your money and is probably always going to do so since in the blockchain your account can be easily hacked and you can lose everything. I personally like the blockchain but if we compare it with the level of bank security, banks will always be safer.

[BitMart 326]

In many ways we are going to say banks are better but one thing is sure that now Banks and blockchain have no competition as in future most of banks are going to use blockchain because its going to create many new changes transactions are going fast and cost is also going to less transparency is also going to improve so we sure this technology is going to improve standard of banking.

[akmal1984 103]

For now I prefer banks in terms of security. because banks have clearer legal rules. And I can sue if something goes wrong or fraud. while crypto is not safe to save money in my opinion.

[maxiway 44]

I hate leaving money in banks, I don't know who likes that, but I don't prefer to invest it in btc and save them in digital mode, I like it more and I earn more interest.

[Irungu 4299]

The old traditional banking and safer ways to really think of this kind, the best for me would be a combination of banking and block chain, that involves safety and services together, blockchain brings safety and also the other one is how fast you can transact a huge amount of money

[maxiway 44]

I think that blockchain is better because transactions are safer, I don't trust banks much, but if it's the way many people save their money, that won't change.

[Amirul Islam 382]

On 12/20/2019 at 6:31 AM, Michal said:

I read about cryptocurrencies news, social media and other side and every one this place can tell me "That it is gold of the XXIst for investing money.

Gold, ok I understand this as a symbol of profit or some security for the future without worrying (exaple) about the total loss of money which my savings money from family generation to generation.
Apparently, gold can never drop to 0 in its value, because everyone wants it, has the applications humanity needs, is beautiful and is not easy to find
or bring it out. Just why they compare bitcoin to gold while being aware of the 2017 story when Bitcoin had a huge price drop in just a few moments. So why do they compare investment in it as in gold?

Is Bitcoin, or will it always be, as surely an investment as gold 50 years ago?

In this time we can't say which is better for money safe. Because there are too much hacker and scammers in the market. It think after Blockchain registration we will get its solution.

[Badhon420 126]

I presume no loan companies are safer in the case of commitment types when compared to cryptocurrencies, still, once you equally intend all the commitment principle that offers great profit margins afterward it is best to pay out right into cryptocurrencies.

[Ms.o 3322]

I prefer bank. As blockchain or any online connected wallet are very much prone in hacking and once it was hack it will never get back unlike on bank if they lost your funds with their own negligence you can still get back your money.

[Sasaki 171]

Well it still an arguments for some people but I think I must prefer blockchain technology because it is the new technology now and we need to adopt it because we are now in a digital age, banks is centralized and it needs to control the flow of money while blockchain is a decentralized system that no one is controlling where everyone also free to use it .

[Jessica Karren 1242]

For sure baking system is very mature as compared to blockchain. It provides very good security but in blockchain technology there is always a fear of spam.