So is there any point to using a bank anymore? Thinking about it, why would I want to give my money to chase just so they can continue their loan scheme?
So is there any point to using a bank anymore? Thinking about it...
paying bills
Convenience. And, depending on where you bank, interest. Chase has comically low interest rates on their savings accounts, but many banks you can get 3-4% yearly. If your money is just going to sit around anyways, why not make some interest?
No there isn't
Dumb kike
Jewish hands typed this.
Those rates don't even keep up with inflation so you still lose money when it sits in a bank.
government backed security to replace your lost or stolen money. no rug pulls like with your shit coins. ease of access to your funds with use of debit/credit cards. access to other possible services and loans at your need.
Unironically the only reason I use mine
I don't even have a savings account with them anymore
Bitcoin makes a better account
No it doesn't
Tell me why it doesnt
can use anywhere
accumulates value on its own
highest return per year
requires no oversight or bank teller limited you from taking money
convertable to all cryptos and fiats
also, youre not using money. you're using debt.
Pick a bank that provides you the nessecary physical location services you might need and then has a good investment account system. Instead of having a savings account just sweep it into money market funds.
The only reason I can think would be credit. I never saw the point in banking or in any of the interest rates (the shills typing about a 3-4% APR are idiots, its literally pennies in the bucket. Sit on a large amount of capital for a year to make a fraction of the amount you put in. ALMOST pointless).
I just use the Chime Credit builder card now, you set your own credit limits because you're the one financing it, not the central banks.
I think over time, this new fin-tech wave of banking will take over, especially with all the digital currency flying around.
I'm also a fucking idiot so, take my opinions as you will. My phone can now do anything any of the past brokerages/banks/investment hubs can do without shaking hands and bending over a bankers desk. SoFi is a pretty good example of an all around digital banking service.
Just don't lose your card or deactivate it. These niggers only mail you a new one. No temporary card.Takes 2 weeks.
Tell me why it doesnt
gee I don't know, the wild 50% swings in value?
why would I want to give my money to chase just so they can continue their loan scheme?
there is no reserve requirement they don't need your money at all to do loans. These banks would be happy if you left checking accounts are an annoyance to them they only have them to establish a relationship with you and spam you with credit card offers
Every year it has only gone up.
so what happens if everyone took out their money from their accounts today? You know the answer.
Every year it has only gone up.
2022 it went down dramatically, and that's not the point anyway. Volatility is fine for a speculative investment, but rough for a day to day currency. It's the same reason why people in countries with wild currency try to get a hold of US Dollars or Euros
It's at 100K+ right now, boomer/ kike.
so what happens if everyone took out their money from their accounts today? You know the answer.
In reality they'd probably call a bank holiday and stop it. What happens if some group gets control of 51% of mining?
You said "every year it has only gone up" your SSRI riddled zoomer moron fuckstick
What happens if some group gets control of 51% of mining?
Bitcoin can run on less than 1% of movable currency.
semantics
Every year it has gone up.
you still lose money when it sits in a bank.
not how that works.
Yes and no. It loses value no matter what you do with it. Hold it in a vault, under your mattress, etc.
doesn't even understand the problem
you're an idiot
there is no "and no". you dont "lose" money if you dont touch it, unless it is stolen from you. inflation isnt "losing" money. its your money losing value. you still have the bills under your mattress, in a bank, up your ass etc. regardless having a savings account is retarded, just use a credit card, get a high limit and then slowly tank your credit rating before you die, its that simple
inflation isnt "losing" money.
And there's the naive npc response
losing money isn't losing value
chase bank has scammed me and me friends when we were in usa. They gave us a horrendous exchange rate and claimed it was the official one. literally no difference between a pajeet call center and an american bank
Yeah they do that, I think all banks and governments take advantage of foreign people. The same thing happened to me when I visited Austria, they fucked me. It's like going to disney land a fucking hot dog is going to cost 20 dollars.
arguing over the meaning of "lose"
You are such a nigger.
Purchasing power is lost due to inflation, but my $100 in the bank is still nominally $100 even after inflation cuts the purchasing power of that $100.
Both of you agree and are correct.
Inflation is the government stealing the value held in cash, you fucking kike. Its losing value in the bank even with bullshit kike interest.
Whats even funnier is that even with that interest, all that really means is that they are not using as much of your money for loans.
Nobody cares about the nominal value, pedantic faggot
This. Nominal is just a retarded number, the actual value comes from what you can purchase it. So when we go full weimar and a gallon of milk is $888.88 we will revisit the idea of value vs nominal and I'm sure we'll all be laughing then.
can use anywhere
you're saying you can walk into any bar in america and buy a drink with bitcoin?
Bitcoin isn't an investment. I would never convert crypto back to fiat
You're correct but I'm talking about something else
Cool
Just don't say you "lost" money due to inflation
What should goods be valued in so that we don't have to worry about what the retarded number is?
They should be valued in low-inflation nominal numbers, otherwise the value of those nominal numbers in relation to paid wages to work for those nominal numbers will go down. The value is the derived from the labor put into earning those dollars, and if the government is inflating my nominal value they are inflating the labor value. That's why no one wants to work, the true inflation is somewhere between 15-20 percent per year, so if you have 10k right now, 1 year from no it will have a purchasing power of around $8500 dollars.
You can already do that with all the smartphone tap function apps.
That house of saturn vibe
Jesus christ I bet the ATMs greet you with
WELCOME TO THE CHURCH OF SATAN, GOY. DEPOSIT OR WIDTHDRAWL OR FATED DEBT
how much money you got stuffed in your mattress bud? 10k ? 50?
kek
are you too stupid to understand the difference between value and volatility?
If the rate does not keep up with inflation you are losing money and would be better off putting it in another investment vehicle.
Even CDs barely get 4% interest these days.
Yes
It's going to get higher by the end of the year, faggot.
they could really use your support
rumble.com
government backed security
Fucking kek. Last year a small bank in rural Oklahoma (bank of Lindsay) failed. The town has maybe 10k people absolute tops, so this is a comically small bank in the scheme of things. The government didn’t cover the full amount promised. That was a nobody bank. When it crashes, you aren’t getting shit that you’re owed. And the coinfag rug pull will happen at the same time or sooner