Is-Bitcoin-Safe-To-Use-Bitcoin-Training-Camp

IS BITCOIN SAFE TO USE?

SHOCKING NEWS: Your banks are committing fraud, race discrimination, money laundering for drug cartels, rigging interest rates and bribery…!

 

Is Bitcoin Safe To Use - The Short Version

  1. Banks globally are committing fraud.
  2. Media is making money with false panic news.
  3. Bitcoin is safe. Start your own bitcoin bank.
  4. How to invest in bitcoin
  5. Join our team here for free.

Bitcoin is, (in my opinion) the safest monetary system available!

Banks, governments and media are lying to you. I discuss these steps further below…

Is bitcoin safe to use? Before we answer that, let’s discuss the alternative…

Banks and financial institutions are mean to be trusted and respected places for us to place our money with.

We are mean to trust them with our hard earned cash… 

But did you know that most of the major banks in the world are involved in bribery, fraud, discrimination and are being fined billions of dollars for their offenses…

The question has to be asked:

WHERE DOES THE MONEY COME FROM TO PAY THESE FINES?

 

Money-Laundering-Bitcoin-Training-Camp

IS BITCOIN SAFE TO USE?

The folks at Alternate.org share an interesting thought on this:

“The banks are very clever about things like fines, and in some cases, they actually have ways of making you pay for them. When HSBC got hit with a giant money-laundering fine, customers got letters soon after noting certain “changes.” HSBC, for no reason it cared to explain, would be taking longer to deposit monies into accounts. What the bank was really doing was increasing the “float,” or soaking up interest on the money in between the time you deposit a check into your account and the moment it shows up there. Was there any link between the money-laundering fine and what happened to your account? Makes you wonder.”

 

It makes it look like we pay for it in the end!

They further go on to show, that if you take legal action against a bank, even if you win, you may end up paying:

“There’s some very interesting fine print on fines buried way down in the terms-and-conditions agreements you have to sign when you open a bank account with big names like HSBC, TD Bank, and PNC Bank. Basically, if there’s any legal disputes over your account, and the bank has to fork over any fees, like attorney fees and so on, you get to pay them. In other words, if you sue your bank over a credit card dispute, you may have to pay for the bank’s losses, even if you win.

Here’s HSBC’s clause: “You agree to be liable to the bank for any losses, costs or expenses the bank incurs as a result of any dispute involving your account. You authorize the bank to deduct any such losses, costs or expenses from your account without prior notice to you.”

 

And what is scary about all of this, is that we sign the agreements and allow it.

Next time you get a document from the bank, you may want to ask your lawyer to explain it to you first…

So back to the fraud…

Here is just a tiny list of some of the frauds and cases that have recently been fought:

On 11th April 2016, Reuters announced that Goldman Sachs paid a fine of $5.06 billion.  This settled claims that it misled mortgage bond investors during the financial crisis.

in addition, Goldman will pay $875 million for other claims with other agencies.

Settlements were also settled with JPMorgan chase ($13 billion), Bank of America ($16.6 Billion), Citibank ($7 billion) and Morgan Stanley ($3.s billion)

“We are pleased to put these legacy matters behind us,” a Goldman spokesman said in a statement.

Goldman Sachs failed to report a US fraud case. On 9th September 2010 they paid £17.5 in fines.

On 2nd April 2014, Goldman Sachs and 10 other companies paid £250 million in fines. The European Commission claimed that they were running a global illegal cartel.

The Economic Times reported that a former Goldman Sachs banker paid $4.5 million in fines for fraud. The banker was invoicing a client for fictitious accounts.

Goldman and Morgan Stanley paid $35.5 million in fines. This was for improper handling of post-crisis mortgage foreclosures.

Other financial institutions paid over $200 billion for ‘questionable behavior’ according to CNBC.

JPMorgan Chase paid in November 2013 $13 billion for lying to Fannie Mae and Freddie Mac.

Barclays were ordered to pay $2 billion fine for fraud during run up to the 2008 financial crisis

JPMorgan admit that every large bank in the US committed mortgage fraud.

 

Is Bitcoin Safe To Use

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In 2011 JPMorgan Chase admit to foreclosing on thousands of military families. They had no good reason to do so.

In 2012 Wells Fargo paid $175 million. They had put in place discriminatory and predatory subprime lending practices.

In March 2010 Wachovia was fined for laundering billions of dollars in illegal drug money.

In July 2016 HSBC was fined $1.9 billion for laundering Mexican drug trafficking money.

Recently reported on 29th November 2018 Deutsche Bank headquarters raided over money laundering.

JPMorgan has agreed to pay $264m to settle a US probe into its practice of hiring well-connected Chinese “princelings” to win business.

The settlement is the first to arise from a 2013 Securities and Exchange Commission inquiry over whether bank hiring practices breached the US Foreign Corrupt Practices Act. The 1977 law bans companies from paying bribes to overseas officials to win business.

Mortgage fraud…

Wrongful foreclosure…

Race discrimination…

Laundering money for drug cartels…

Rigging interest rates…

Bribing foreign officials…

NO major wall street executive one went to jail.

 

One of the reasons, that no one goes to jail and they can ask such questions as “what law was broken’, is that many of these cases get settled out of court.

This means they they do not have to admit any wrong doing and it saves them money on legal fees and long court cases.

Salon.com states: ‘Bank fines are simply baked into financial business. Until fines are much, much bigger and perpetrators at the top face the possibility of prosecution, the crime spree will go on.”

If you would like to read a horror story of bank fraud and fines, check this massive list out.

In fact what happened in these fraud cases was described by Business Insider  as “The Biggest In History”

 

Where-Does-the-Money-Go-Bitcoin-Training-Camp

WHERE DOES THE MONEY GO?

It is the SEC and US Justice department give fines for:

Concealing risky products…
Kicking soldiers out of their homes…
Trying to scam bailout money…
And more…

The SEC has a list the banks whose activities ‘led to or arose from’ the financial crisis. You can see the list here. You might recognize some of the names listed.

This list does not include cases by:

The US Commodity Futures trading Commission…
The Consumer Financial Protection Bureau…
The Department of Justice…
The Office of The Comptroller of the Currency…
Or other agencies.

But where does the money go?

According to Alternate.org it goes to the following:

The SEC
The Federal Reserve Board
The Office of The Comptroller Of The Currency
The British Regulator
Relief for the people who lost their homes (this is a trivial amount)

Billy Jacobson is ‘a former DOJ officer.

He has gone on record as saying that the fines don’t pay for coffee and donuts for investigators.

Instead, the money has to go the U.S. Treasury. Restitution for victims is rare, and constitutes a trivial amount of what the DOJ brings in. In 2011 the DOJ took in $2 billion in judgments and settlements, and only $116 million went to restitution.

Barry Ritholtz of the Big Picture, says: “Only a portion of the settlements collected go to the actual victims,” stated Ritholtz. “For the most part the money is used to fund more investigations.”

In other words the victims, almost never get any help!

 

Why-Use-A-Bank-Bitcoin-Training-Camp

 

SO WHY USE A BANK THEN?

Very good question…

Could it be we are familiar with banks and a habit from previous generations.

Until recently we had no option but to use a bank. The world is changing though.

Let me share with you some thoughts about why we need a bank account from Investopedia

They claim we need a bank account because:

1) Security

2) Convenience

3) Saving & Investing

 

1) Security

Based on the above content, I would say bank security in not so good for us.

There is a list of 555 banks that have closed on the FDIC website.

At Wikipedia there is a list of bank that have closed since 2008. The list is quite long.

Credit card theft and fraud is huge. At Creditcards.com it states: “The Federal Trade Commission’s online database of consumer complaints has compiled 13 million complaints from 2012 to 2016, with 3 million in 2016 alone. Of those, 42 percent were fraud related, and 13 percent were identity theft complaints.”

FT.com also states “Recently disclosed results showed Citigroup, JPMorgan Chase, Bank of America and Wells Fargo took a combined $12.5bn hit from soured card loans last year, about $2bn more than a year ago.”

Secure? You be the judge of that?

 

2) Convenience

Banks are often closed weekends. Most banks close about 5pm until 9am the next morning (closed more than 50% of the time)

According to Westpac in this day of high speed communication, it still takes 3 days to clear a check (cheque)

Smart Asset.com state that “If you’re sending money to another country, it may take as many as five days for the recipient to receive their funds.”

I am living in Thailand. I asked my bank in The Philippines to transfer money to my account in Thailand. They stated that they needed an original signature to do that. which meant I would have to do a document transfer from Thailand to Philippines.

According to Forbes.com 1.7 billion people do not have access to banking.

Is any of that convenient?

 

3) Saving & Investing

Typical bank saving rates, are according to Bankrate.com, 1.80% to 2.25% per annum (In some countries it is worse)

US inflation rate for 2017 was 2.1% according to The Balance.com. This means with most bank accounts, investors and savers are actually losing money…

So is there a benefit to having a bank account?

Or do we only use it because there is no other option?

 

Be-Your-Own-Bank-Bitcoin-Training-Camp

 

BECOME YOUR OWN BANK

Recently prepaid debit cards allow online transactions. It is not yet possible to do all online transactions with these cards. They do allow people to transact without a bank.

Paypal and Venmo, also opened up the world of online banking to us. With these services, we can transact business, accept online payments and transfer money.

We can transfer money using services like Western Union around the world.

Each has their own charges and pros and cons, but what is exciting is that we can bypass the banks if we want to.

There are new services growing that are taking the world by storm.

Coins.ph and it’s sister company Coins.th is growing. I can transfer money to anyone with an account in seconds anywhere in the world.

Coins.ph allows users to pay:

Utility bills;
Credit cards;
School fees:
Broadband fees;
Cable providers
Government housing contributions;
SSS contributions;
Insurance;
Tollgate fees;
And a whole range of merchants all from an app on their smart phones.

 

Coins.ph also have an exchange. Users can by Bitcoin, Etherium, Bitcoin Can and Ripple all from the dashboard in seconds.

You can withdraw money through banks, and stores, even a door-to-door delivery service.

You can also make money by referring other people.

It’s like a bank on your cell.

Coins.ph are not alone.

There are hundreds of services popping up all the time from WeChat in China To Airpay. Square Point of Sale, Google Pay, Paygo Wallet, Android pay and many many more.

The world is changing and the banks are falling behind…

Inconvenient hours…
Old banking systems…
Slow payment processors…
Expensive transfer systems…
Worst of all corruption, fraud and losses on a scale that should be illegal.

For some reason it seems to be largely ignored by the governments.

Sure, they seem to take an interest, but if they wanted to could they not stop the practices?

And when they do fine the banks, most of the money goes to government organizations (and not the victims)

Is it possible that they are all working together?

 

Whats-The-Solution-Bitcoin-Training-Camp

IS BITCOIN THE SOLUTION?

Until recently, the banks, financial houses and governments controlled money. This caused us hardship.

Well if you have read any of the other articles on this website, you will know that I am Addicted To Bitcoin

I and millions of other people think bitcoin it is an incredible solution.

The cryptocurrency platform opens up the world of finance to the whole world.

Bitcoin was not designed to make us money, but rather to give us freedom over money.

The whole objective of bitcoin was as “A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a financial institution”

Bitcoin gives us financial control over our own money.

Making money is actually a side benefit.

If you had more control over your money, that should be a good thing, shouldn’t it?

If you could send money using bitcoin, anywhere in the world in seconds, would that be good?

If sending it only cost a few cents instead of the high charges that banks charge, would that not be a bonus?

If you could send any time of the day…
Even if the bank is not open…
You needed no 3rd party permission…
You would think that everyone would love the concept.

But it was not to be…

The Star said, Jamie Dimon said “he will fire any employee trading bitcoin for being “stupid””

He went on to say “I’d fire them in a second. For two reasons: It’s against our rules, and they’re stupid. And both are dangerous.”

He said it was against the rules, yet on 11th April 2018 JPMorgan again sued for bitcoin fraud.

JPMorgan has many suits for fraud with banking and fiat currencies. Now they are being sued in cryptocurrency. Now they are being sued in cryptocurrency.

Do you see a pattern happening?

DW.com state “Central banks in the US and Europe are warning about the cryptocurrency bitcoin.”

Business Today reported that “governments warns against cryptocurrency, says don’t get trapped.” They went on to say “There is a real and heightened risk of investment bubble of the type seen in Ponzi schemes which can result in sudden and prolonged crash exposing investors”

Express.co.uk reveal “Bitcoin price WARNING: ‘It’s a HUGE risk!’ Governments could BAN cryptocurrencies, Bitcoin and other cryptocurrencies like Ripple and Ethereum are under threat from governments who could ban the digital currencies, an expert has warned. “

If this was a detective show, would you not be thinking now that there might be a conspiracy theory going on?

Let’s recap…

The fraudulent banks are warning us that bitcoin might be a fraud and that we could lose all our money…

Governments that do nothing caution us about the dangers of bitcoin…

Did I read that right?

Something is wrong…!

The governments should warn us for doing business with banks involved in fraud.

Bitcoin is one of the most powerful financial tools the world has ever seen.

So why is Inc-Asean.com reporting “Why Bitcoin Is the Most Dangerous Global Scam in 20 Years When bitcoin inevitably crashes, inexperienced investors who believed the hype could lose everything.“

So why is all this negative press happening, when bitcoin seems to be a positive product?

Bitcointalk asks the same question. The answer is interesting.

It reports “the media earn money with news that provokes panic, in short the media make money publishing news that has a big impact.”

After Jamie Dimon called bitcoin a fraud, the price dropped.

A week later Jamie Dimon is being accused of market abuse in Sweden for bad mouthing bitcoin.

Is it possible that this negative press is market manipulation?

What do you think?

If you want a real insight, then watch this video:

How Safe Is Bitcoin

 

So what should you do?

Is bitcoin safe to use?

You need to decide if bitcoin and cryptocurrency will be a long term trusted store of value.

Let’s look at the blockchain first. Blockchain is nothing more than a digital ledger of processed activity. Bitcoin sits on Blockchain.

It is permanent. You cannot change it
It is transparent and has not ever been hacked.
It’s decentralised so no one person or group controls it.
It is a secure system.
It is a permission less system.

Doesn’t that sound like the opposite of banks and governments?

Blockchain is here to stay. Thousands of companies and projects are now running on blockchain.

It is integrating into our society.

We cannot stop it.

Bitcoin cash “CEO” Bitcoin will be the greatest wealth transfer in history and could go to $1,000,000 per coin. Watch the video…

Is Bitcoin Safe

Is that worth investing in?

Those who understand bitcoin and cryptocurrency early on can make millions.

He goes on to say “If cryptocurrency fulfills it’s promise, and there is no indication it wouldn’t, then the equivalent of 1 bitcoin needs to be in the 2 to 5 million dollar range”

Today, bitcoin is $6700 a coin…

Now is that worth investing in?

I will let you answer that as I am not allowed to give you advice.

 

IS BITCOIN SAFE TO USE

Blockchain is the platform bitcoin runs on.

It is safe.

Never been hacked…

It’s permanent and cannot be altered…

So if the platform is safe, we need to look at bitcoin. Is bitcoin safe?

 

IT’S DECENTRALIZED

The PACE Project explain what decentralized is:

“A decentralized system is one which requires multiple parties to make their own independent decisions.

In such a decentralized system, there is no single centralized authority that makes decisions on behalf of all the parties. Instead each party, also called a peer, makes local autonomous decisions towards its individual goals which may possibly conflict with those of other peers. Peers directly interact with each other and share information or provide service to other peers.”

 

As a comparison, traditional money is centralized as explained in this post on Medium:

“System of traditional money is centralized, and the clear proof of it is that only government controls money and has the right to issue it. Try to invent your own money — you will be punished by the law. But nobody can prohibit you from inventing your own digital currency — it will cost as much as people are ready to pay for it, and now we can see the birth of new cryptocurrencies almost every day.”

 

The downside of a centralized system is that one group, one agency, one person controls it. In the case of the $US, the Federal Reserve controls it completely. We cannot do anything about it.

With a decentralized system. No one group or person controls it. It cannot be manipulated as the rest of the group prevent it.

This makes it safer for us!

 

IT’S TRANSPARENT

You can see all the blockchain transactions taking place live here at this link.

It’s actually amazing to watch. Some of the transactions are massive.

This is a live ledger taking place.

You cannot do this with a bank.

In this article by Coin Sutra, they explain that transaction are not linked to people:

“Bitcoin transactions, by design, are not linked to a person or identity. Public addresses are used for transactions- alphanumeric strings publicly recorded on the blockchain.

A person’s name, physical address, or email is found nowhere in the transaction. But a person’s identity can still be tracked down using public address info and IPs.

That’s why Bitcoin transactions are called pseudo-anonymous.”

 

It is possible to track Bitcoin transactions. The media and governments inform the public that criminals can hide in the world of bitcoin.

That is NOT true.

Bitcoinist.com explain:

“When creating a wallet, users are given an address that allows them to receive coins. This address is just a long string of numbers and letters, but each one is unique to the wallet.

This property of Bitcoin allows people to link wallets with real-world identities. For example, you send coins from your personal wallet to your exchange wallet. The wallet on the exchange could be linked to your identity.”

You will hear how you can buy guns, drugs and other illegal substances with bitcoin.

You can also pay for them in cash.

I have never bought a gun. I am pretty sure the dealer wants cash and not a traceable bitcoin transaction!

When the internet started, we were warned about how criminal activity would take over the world.

Of course there is criminal activity on the internet. We still can’t live without it.

There is criminal activity (by the banks) in the world of cash. We still want more of it.

Yes there is criminal activity in bitcoin and cryptocurrency. It’s all traceable!

So is bitcoin safe?

It no less safe than the other systems!

 
BITCOIN EXCHANGES HACKED
 
The price of bitcoin tumbles every now and then due to an exchange hack.
 
The Washington Post explains that
 
“For starters, cryptocurrency experts blame lax security at the hacked exchanges, as well as the booming popularity of digital currencies more generally.”
 
The sheer speed in which the crypto world grew in the last year or two, seems to have caught the exchanges out.
 
Many exchanges did not have the speed or the finance to protect themselves.
 
This does not make bitcoin bad.
 
When a bank robbery happens you still want money.
 
You may want to change your bank, but you still want cash!
 
Bitcoin is the same. The value or product is the same. You still want it…
 
Don’t you?
 
You may want to to have your own external wallet instead. They are much safer.
 
Is bitcoin safe to use?
 
I am personally thinking of closing my bank accounts. I think bitcoin is safer than money!
 
HOW I INVEST IN BITCOIN

I have been investing in bitcoin since Feb 2017. To see my full story you can read my book here.

It was an amazing journey.

I did make a lot of bitcoin and it changed my life. I went from almost broke to living an incredible lifestyle in Thailand in less than 1 year.

I cannot guarantee that this will happen for you.

But I am still investing in bitcoin.

And I use online programs to not only buy my bitcoin, but to also grow my bitcoin.

One of my mentors Dan Lok, says there are 3 big problems when it comes to making money:

1) People don’t know how to make money…

2) They don’t know how to keep money…

3) They don’t know how to multiply money…

Well I have the solution to that problem.

We are using bitcoin multipliers that compound our bitcoin and cryptocurrencies.

 

Albert-Einstein

Albert Einstein once said “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”

Warren Buffet, understood compounding and said: “I always knew I was going to be rich, so I was never in a hurry to”.

So here is are my questions to you…

  • Can you see past all the noise created by media, banks and governments?
  • Would you like to get your hands on some bitcoin?
  • If you see what I see, would you like to compound your bitcoin?

 

Last week, I was in Bangkok, with about 35 millionaires. We were discussing bitcoin strategies.

We are working with some of the top companies in the world and changing lives.

Every month, we have access to information that can transform your life.

Some of these guys earned between 15 and 40 million dollars last year alone.

I promise you my life has changed.

I went from $75 in my bank to living by the beach in Thailand in one year.

 

Be-One-Of-Us-Bitcoin-Training-Camp

WOULD YOU LIKE TO JOIN US?

I work with a handful of new bitcoin investors each month.

This is what you will get:

Green-Check-Mark Access to all the programs to grow your bitcoin

Green-Check-Mark Access to specialized techniques we use.

Green-Check-Mark Access to Facebook, Telegram, WhatsApp support groups

Green-Check-Mark Regular online training meetings.

 

I share the techniques we use.

I do NOT charge you anything for working with me.

We are looking for people who are serious.

You have $1000 or more and want to get into bitcoin.

If you have less and are serious, we all consider you, but you need to tell us why we should work with you?

 

We work with a range of products, so after a quick discussion with you, you will know which is the right one for you.

Start today.

Show you are serious about creating a stream of income for yourself.

You can apply here

We only work with the committed. You have to be a pleasure for us to work with.

But if we do, your life could transform…

 

 

Join-Us-Bitcoin-Training-Camp

 

 

 

 

 

Disclaimer:
I am not a financial advisor. all content on this website is provided for informational purposes only. The information does not constitute investment advice, financial advice or any sort of advice at all. NONE of this website’s content is advice of any kind and you should not treat is as such.

We do not recommend that you invest. We do not advise you to buy, sell, trade or hold (HODL) cryptocurrency, altcoins, bitcoins, tokens or any form of cryptocurrency.

We are making no offers to sell, buy, trade or hold any investment or cryptocurrency product. Nothing on this website should be taken as an offer.
Conduct your own due diligence and consult with financial advisors, business advisors and any other kind of professional that you deem fit, before making any investment decisions.

By investing, joining any programs or services or taking any action on any information on this website, you accept full responsibility and waive Timothy Bennett or any of his business associates free from responsibility, claim, lien, or harm of any kind.

Accuracy of Information
Much of what we share is experiential. It is our experience. We cannot guarantee your experience. We have taken every step to ensure that the information given is correct. We will not be held responsible for any missing or wrong information. You understand that you are using any and all information available here AT YOUR OWN RISK.


Price Risk
We discuss bitcoin and cryptocurrencies on this website. They are highly speculative and volatile. Prices can and do change incredibly fast and it is common to see massive high and low swings. Massive losses can be incurred. You use this website accepting all losses as your responsibility. NEVER invest any more than you can afford to lose. Minimize your losses. DO NOT invest all your money in bitcoin or cryptocurrencies. Do not borrow money to invest. Do not sell valuable items to invest. Do not use pension funds, school funds or any other fund to invest. Only invest money which you can afford to lose.

It is possible, that bitcoin and cryptocurrency is not for you. Consult a fully qualified professional financial advisor before investing.

 

 

 

Tim Bennett wrote this post ‘Is Bitcoin Safe To Use? Shocking Bank Fraud Will Make You Say Yes”. it is exclusive for Bitcoin Training Camp ©2018

  1. Nice post dear
    The only people that gained tremendously from bitcoin were those that started early enough when the value has not risen the way it is now. I don’t think I can be able to invest in bitcoin now because of the cost, but is there any other crypto currency that you think is nice and the price is a bit lower that I can invest in

    • Hi Bibian,

      Thank you for visiting my site and leaving a comment.

      Welcome to the team. I really appreciate it.

      The great thing about bitcoin, is that you can buy a ‘bit’ and you do not need to buy a whole coin.

      We have people investing as little as $50 to get started. If the price only went up by 10% (which is quite easy)you would still be doing better than having savings in a bank.

      You know my opinion of banks!

      There are many coins that are still very cheap, but bitcoin is The Lord of The Coins…

      Ripple is also one to watch. If you need help, let me know here your level of interest and I can get you started:

      Click here to get started

      Look forward to help you out.

      Tim Bennett

  2. Hello,
    I don’t think that bitcoin is safe to use and I wouldn’t get involved with bitcoin. Maybe you can gain from investments in bitcoin, but it requires a lot of thinking and calculation in my opinion. And I think it has a higher risk. And as for your statements “bitcoin is the safest investment. Banks and governments are lying to you” this does not result in my experience. I think banks are safe.

    • Thank you for visiting the site and also leaving your comment. I really appreciate that you did.

      I appreciate your opinion…

      My opinion, comes  from my own experience with bitcoin. Bitcoin, from my experience, has no higher risk than any other currency such as the dollar, euro, franc, etc. all fluctuate, all have volatility.

      Is there a risk,? Yes of course…

      There is a risk in buying a house. How many people have lost their houses due to changes in market prices. Bitcoin is the same. If the price value goes down and you sell, then yes you can lose. If you do not sell and you wait for the price value to go back up. In the same way a home investor would wait for the house prices to go up.

      Your experience may be that banks are safe. You might not have personally had any negative issues with them, but clearly you can see from the article that:

      1) Banks are massively involved in bank fraud;

      2) According to the articles they are also involved in money laundering, drug cartels and the such;

      3) I attached a massive list of banks that have closed down.

      On a personal note, I had an experience in 2016/2017 when my credit cards were hacked 9 times and the bank tried to make me pay for the losses. They were responsible for their breach in security.

      It took me almost 1 year to get the bank to remove the charges from my account. By which time I had incurred massive loss.

      If you have not had issues with a bank, you are very lucky. Hundreds of thousands of people have and they will tell you a very different story.

      It’s pretty safe to say that you do not understand bitcoin and that is ok. It is new to many people, however if you look around you, you will see the world is embracing it.

      I wish you success with your banks and thank you again for your comment.

      Not everyone likes everything, so I truly appreciate your look on the topic!

      Have a great one!

      Tim Bennett

  3. I think I would be too scared to get involved with bitcoin as it has many risks. A friend of mine told me that her friend has made around $10,000 in a month with bitcoin, which is actually great but also a matter of luck or chance. For me personally, affiliate marketing is much safer, which is why I will stick to it. Great article though!

    • Tim Bennett Live !

      Hello Ruya,

      Firstly thank you for your comment and visiting the article. I really appreciate you.

      I agree with you. there is a risk. There is a risk to everything though.

      There is a risk to doing something and also to doing nothing! we must all decide if we are prepared to take the level of risk.

      Affiliate marketing is an awesome way to make money. It also has risks, but I would agree with you that they are lower probably than investing.

      However, depending on your level of success, if you are making very little, that is also a risk.

      Maybe for your friend, they did make money with bitcoin by chance. However there are many people who are making money with bitcoin and it most certainly is not by chance.

      I am one of those people. I am making money with bitcoin and it is planned. I am a serious business man and gambling is not in my portfolio. And making money by chance is gambling.

      I have been an entrepreneur all my life and I have seen many people go into business with no real skills in business and they fail. This is also not recommended and how many people treat business.

      Bitcoin is probably not for you. It is OK to be a safe investor, it is very sensible if you don’t like taking risks.

      Thanks again for dropping by and I hope you will visit again!

      Tim Bennett

  4. Very good article with so many information. I must say that you are right when it comes to banks. We think that they are trusted but who knows what are they doing with our cash. I heard a lot about bitcoin but I have never give it much attention because it is a virtual money, I even tried to earn it in the past but without success.

    • Hello Daniel,

      Thank you for your awesome comment. I appreciate you visiting the site so much.

      Also appreciated are the kind words.

      Banks were good once. They are becoming old fashioned and redundant as new technology passes them by.

      Not to mention the massive fraud they are part of.

      It is becoming increasingly difficult to use banks. They have so much data requests and prohibitive regulations.

      I truly believe they need a big shake up.

      I do not use banks much now.

      Having bitcoin has allowed me to become my own bank. When I need case I transfer bitcoin and withdraw cash via ATM.

      I withdrew almost all of my cash from my bank and converted it into bitcoin last year and it was one of the best things I ever did.

      Now I control my money and not the bank.

      If you ever need help with regards to bitcoin, feel free to contact me here at timbennettlive@gmail.com

      Look forward to connecting with you again.

      Tim

  5. I don’t trust banks at all. Somehow I am paying so much for having my affairs in order, even if I don’t make a lot of money. I agree with the fact that we keep out money in the bank because we don’t have any other choice.

    I really like paypal, although I would like to pay less transactions fees, but it seems fair. 

    Last year I met a guy who was into Blockchain and bitcoin, actually the one he was working with was one called Ethereum. He tried to explain to me how i works but I think it’s just out of my league, your post is very clear and I think I should give bitcoin a chance!

    • Hello Vivi,

      Thank for you for your awesome comments

      The more I work with banks the less I like them.

      They are demanding and uncaring in my opinion.

      Paypal is wonderful except as you say expensive.

      Bitcoin is relatively cheap to process, but has less acceptance right now.

      I would be happy to help you take your 1st steps into bitcoin if you would like help.

      Contact me any time at timbennettlive@gmail.com

      Thanks for your time here today

      Tim

  6. I see more and more websites and articles about bitcoin. People are definitely creating a constant buzz around it. I live in the US and feel quite safe with my bank, with fast and easy electronic service for checks and everything I need. Bitcoin is not as broadly accepted as old good dollar. My kids school, supermarkets around, my utility company and others won’t accept any payment in bitcoin. Do you think it’s going to change any soon?

    Two other concerns are the volatility and the amount of frauds related to bitcoin.

    I know, any FX pair can be volatile, but looks like bitcoin is one of the currencies with really high standard deviation. What’s your take on it?

    Bitcoin itself might not be a fraud, but there are too many shady businesses that use its name to scam uneducated people, that it’s hard to distinguish a legit bitcoin business from such a fraud. How do you deal with it?

    • Hi Mary,

      First thank you for your visit to the site. I appreciate it so much.

      Your comments and questions are awesome.

      It is true, paying with bitcoin is a challenge right now. It is not a fully functional payment system. YET!

      I think with time this will change.

      Especially as the $ is in so much trouble right now. Are you aware that the US government pays half a trillion dollars a year in interest alone on it’s debt. And the debt is growing faster than repayments.

      Eventually this will cause a collapse (Source: https://www.trustnodes.com/201…)

      So there will be a time when the dollar might not be so healthy.

      Bitcoin could be the savior!

      The volatility of bitcoin can be an issue if you are short term investing, however over time, bitcoin has steadily grown year over year. It is on an upward trend, so long term investment seems to be profitable.

      For day trading, the volatility is awesome!

      It really depends where you are in the investment platform.

      With time it will begin to settle down, especially as mass adoption begins. It will still have it’s swings for a few more years.

      Research is the only way to deal with the shady companies in anything.

      There is as much dishonesty in bitcoin as there is in banking, as in multi-level-marketing and business in general.

      Before doing business with any company in anything (including bitcoin) background checks are needed.

      All investing has risks and we must reduce the risks by a lot of homework and research.

      Checking on Google is not a good place to do your research.

      We work with a number of really great groups if you are interested in investigating more.

      Contact me any tme at timbennettlive@gmail.com

      Thanks again for your great input!

      Tim

  7. Wow, it just goes to show that nobody reads the fine print when opening a bank account.  They put all those papers in front of you, gloss over them, have you sign here, here, here and here, get all your personal information, and you don’t even realize you just signed your rights away.  I cannot believe a bank can come after you for expenses because you sued and they lost.  Wow, that’s crazy.

    • Hi Babsie,

      Thank you so much for your observation…

      It sounds incredible doesn’t it, that a bank which we trust with our money can treat it’s customers so badly.

      I travel a lot around Asia. My main bank is in The Philippines and I have incredible problems with them. They want me to provide original signatures for everything, which sounds awesome until you travel.

      I have online banking, but they also have massive restrictions on what you can and cannot do.

      Crypto gets rid of all of these problems for me.

      I have become my own bank!

      If you would like to investigate further how bitcoin can help you in the financial world, feel free to connect with me at timbennettlive@gmail.com

      Thanks again and happy banking!

      Tim

  8. Very interesting article. I know banks aren’t perfect, but they are the mainstream option for money management.

    I am wondering what you think about Bitcoin possibly being used to fund illegal activities? I did a quick google search and saw a study from Feb. of this year that approximately 44% of bitcoin funds illegal activities. I’m particularly concerned about human trafficking. Where does bitcoin stand in all of this?

    • Hi Holly,

      Thank you for stopping at my website and leaving your awesome question.

      Right now banks are indeed the main option for money management. I think we will see this start to change over the coming years.

      I am personally using banks much less since I started to use cryptocurrency. I believe as crypto becomes more understood people will shift to want personal control over their money.

      Time will tell…

      Is it possible that bitcoin can be used to fund illegal activities? Yes it is.

      However KYC (Know Your Customer) is now required by virtually every crypto exchange so it will become harder to use bitcoin for illegal purposes with time.

      Also every single transaction is recorded on the blockchain and law enforcement can actually trace back to where the coin is being shipped from. Total transparency is difficult.

      There is an interesting article on Forbes that discusses this point here at https://www.forbes.com/sites/j

      When the internet was launched people said pretty much the same. There were warnings that the criminal world would use the internet to hid.

      Did they? Yes…

      Is the internet perfect? No…

      Is bitcoin perfect? No, but it’s getting better.

      The whole concept of bitcoin was un-regulated community, but I personally think that is a bit naive and some regulation is needed.

      I am not sure though that we want the same people who destroyed our present financial world to regulate bitcoin.

      What do you think?

      Tim

  9. I will admit that I don’t know all that much about bitcoin. But I do know I’m not an investor or a risk taker either.

    Banks are about as safe a risk as I’ll take.

    For me, I’d have to know a lot more about bitcoin and it would take some real convincing for me to invest. I am putting what money I do have into investing for my affiliate marketing business. It’s the safest bet for me.Bitcoin may make money for some, but until I had enough money, I couldn’t invest even if I wanted to.

    • Hi Rob,

      Thank you for visiting my site and your comment

      I really appreciate you !

      Bitcoin is not for everyone. Well not yet anyway.

      I still think that bitcoin will go through many changes, trials and battles before it becomes mainstream.

      It is certainly not a good platform for people like yourself who like to keep things safer.

      And that is awesome.

      Some people like the freedom of entrepreneurship, while other like the security of a job. There is no wrong. Personal preference is always king.

      I hope you fund the post informative and if you would ever have any questions about bitcoin, I would be happy to help you.

      Reard

      Tim

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