beginingBlockchainAnalyzes5 Reasons Why Bitcoin Will Beat Banking

    5 Reasons Why Bitcoin Will Beat Banking

    Satoshi Nakamoto created Bitcoin in 2008. It seems certain that the subprime crisis of 2008 was part of his motivation to create a fairer monetary system for all its users. It must be said that the banking system works for the privileged few at the expense of the many.

    From central banks to private banks, the current system is opaque and works against the interests of many.

    With Bitcoin, you are dealing with a major paradigm shift. For the first time in your life, you can enjoy the fruits of your labor without the need for an intermediary unfairly telling you what to do. The unique opportunity that Bitcoin presents makes it clear to me that this system will eventually defeat the banks.

    In what follows, I give you at least 5 big reasons why I think this will happen.

    Bitcoin allows you to enjoy the fruits of your labor at any time

    The bitcoin network system is always working. You can transact at any time without any restrictions. You don't have to wait for the banking system to start working again at the beginning of the week to make a money transaction to a friend on the other side of the world.

    You can do it on Saturday at 8pm if you like.

    The amazing thing is that your friend will receive the bitcoin you send him in minutes. In contrast, the SWIFT interbank payment system will require you to wait 2 to 5 days. In a world where everything is moving faster and faster, it is not possible to have to wait a few days to transfer money around the world.

    Members of Generation Z and Generation Alpha will find this even more unacceptable. So Bitcoin will become their first choice. A pointless thing in a world where everything will be digital.

    Bitcoin allows you to use your money with low fees

    When you make a transaction on the Bitcoin network, you have to pay a transaction fee. This is used to fund the work of the miners who secure the Bitcoin network by providing their computing power to the system.

    The big difference with the current banking system is that the fees you pay only depend on the amount you want to transfer. So you can transfer several million dollars in BTC for less than $1. Unthinkable with the SWIFT system.

    Transaction fees mainly depend on the number of transactions pending on the network. So, the more saturated the network is, the more you'll need to increase transaction fees to encourage miners to prioritize your transaction for inclusion in the next block they'll try to confirm.

    With Lightning Network, the situation is even simpler. Transaction fees are virtually zero and transaction speeds are instantaneous. The Lightning Network, whose adoption is growing steadily, is the future solution for the mass adoption of Bitcoin as a means of payment in everyday life.

    Bitcoin allows you to save the fruits of your labor with peace of mind

    The right to save is a basic human right. You work hard and you have the right to choose what to do with the fruits of your labor. Unfortunately, the current system sneakily forces you to spend your money on unnecessary things you don't need.

    The reason is simple and sad: if you save in the current system, the endless monetary inflation of fiat currencies will eat away at your purchasing power. The US dollar is meant to be spent.

    Bitcoin exists in limited quantities, which is a game changer. When you put the fruits of your labor into the Bitcoin network, you have an essential guarantee: 1 BTC today will always be equal to 1 in 21 million BTC 10, 25, or 50 years from now.

    From then on, you can save easily. Your Bitcoin purchasing power will remain the same.

    Bitcoin protects your privacy

    Bitcoin is a pseudonymous network. All transactions on the web are associated with addresses, not people. In fact, your privacy is respected as long as you don't reveal the addresses associated with your identity. If Bitcoin is an open book, it's only about what happens on the network, not what people do with their money.

    The other advantage of Bitcoin is that no one will ask you to justify the transactions you will make. If you want to send 10 BTC to someone on the other side of the world, you can do it. It's your money and therefore your responsibility.

    Under the current system, you'll have to justify yourself to your bank, but also to customs and possibly other government agencies who might suspect you of using your money for illegal activities. It's your money, but you have to use it according to rules that are not yours.

    Rules that are constantly changing. With Bitcoin, the rules of the game are known in advance and never change. The stability of the Bitcoin protocol is remarkable in a world as uncertain as ours .

    Bitcoin gives you the freedom to live your life on your own terms

    Combining what I just told you, you see the 3 main freedoms that Bitcoin offers you:

    • Freedom to get BTC.
    • Freedom to send BTC.
    • Freedom to HODL BTC.

    And that at any time. From there on Bitcoin allows you to live your life on your own terms . This is why Bitcoin is all about power. Once you have the private keys associated with your Bitcoin, you are in control. No one can take your bitcoins away from you or stop you from using it as you wish.

    This is a big paradigm shift from the current banking system where you are sort of a slave. The word may sound strong, but that's the feeling we all get when bankers censor some of our transactions for completely random reasons.

    Bitcoin allows you to be the master of your money again.

    Final thoughts

    7.8 billion people on Earth, but only 130 million Bitcoin users. So clearly what I have explained here is still not obvious to most people. Therefore, if you buy Bitcoin today, you will be an early adopter .

    Those who saw why Bitcoin would beat the banks before anyone else. More and more people will join the Bitcoin revolution to enjoy the freedom this system gives them in their lifetime.

    The key is to understand that Bitcoin is about freedom.

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