I may have to convert my Bitcoin to fiat at some point to pay for goods and services, and Bitcoin may not eradicate the payment of fees at some point, but the difference between Bitcoin charges to bank charges is that with Bitcoin I chose the fees I pay but with the bank, the fees are imposed on you without your permission. I see that is a dictatorship tendency. So even with the volatility risk of Bitcoin, receiving payment in Bitcoin is now safer and cheaper than fiat payment since there is nothing like charges on deposits with Bitcoin and they is no charge back in Bitcoin transactions.

The reverse is the case with banks in my country, they charge customers for almost everything ranging from transaction notification charges to ATM card maintenance charges down to monthly stamp duty charges. The traditional banking system in my country has limited the citizens and killed the micro economic activities, foreign companies are moving out to other friendly and less taxed countries reason why Bitcoin become a safe heaven for most youths and start-ups.

We can not use Bitcoin or cryptocurrency to pay everything in life at least now. In future, I believe we can have it but in future, governments will have more regulations on cryptocurrency and taxation is one of stricter regulations.

The crypto adoption is different but there are many crypto payment processors like Coinpayments.io, NOWpayments.io, WOOCommerce, Shopify and more. We can use our cryptocurrency to buy a lot of goods but we have to use those platforms. It is another challenge. We can be familiar with crypto transactions but not familiar with using those services.

In future, even we can pay everything with cryptocurrency, taxation will be very different than now. Stricter taxation and Bitcoin or cryptocurrency is not tool to avoid tax.

Its good for singles who can afford to uproot themselves from where they are and move but if you are like the rest who prefers to stay close to family, it will be hard emotionally. The use of Bitcoin may still not get us out of the financial oppression of our own government but at least keeping BTC in your wallet will limit them from getting your money thru forbidding you to withdraw from your bank.

And the place where Bitcoin is right now is the best generational buying for upcoming years. I am glad to be part of history.
People will call us lucky, the next bull cycle I can assure you that. Because they didn't have the courage to buy at these prices and were waiting for the $10k price the whole time.

Would love to see this comment in @DocumentingBTC's tweet in 2025.

Well, it's not surprising, in a world whose global trend is more regulations and more taxes, but anyway, 0.5% is not a very high percentage either and anyway, as hatshepsut93 comments in order to pay for goods and services if you have it in Bitcoin you are also going to have to pay fees that probably exceed that 0.5%.

Do you mind saying in which country this happens? I have searched and I don't see anything recent.

This is such an unfortunate situation. It really saddens me when the government fails their job to provide a good economic development for their country and constituents to the point that their citizens are the ones suffering the consequences.

Although I cannot really say that bitcoin is actually an escape route on financial oppression because no matter how hard we deny, we're always gonna pay the fees because bitcoin isn't fully adopted yet in every place. Hence, we're still going to pay for processing fees for the conversion of bitcoin to fiat. The government will still have their way to tax us and get money from us as long as it isn't widely adopted yet.

However, bitcoin is a great opportunity to be an additional income source and investment for the future which is beneficial to the holders of it. It's just up to us on how we would utilize bitcoin for our own sake and advantage.

I don't know what currency you're talking about, so I can't say if it's a lot of money for you or if it's something that will have an impact on some wealthier people - but banks have never been and never will be charitable institutions. In the past 2 years, most banks in my country have increased the fees for their services, and as far as I know, they will increase their fees even more.

Let's say that the fee for paying bills (electricity, telephone, etc.) at the bank is even 100% higher than if you do it at the post office, and even 500% more expensive than the fee you will be charged for the same thing at the gas station (bills can be paid even at a newspaper kiosk).


If you think that Bitcoin is something that has potential and if you believe that it is safe, then I don't see a problem that you trust Bitcoin more than fiat in your bank. I decided a long time ago that I believe in Bitcoin more than in fiat, and considering that my country will soon abandon its currency, I will have even less reason to believe in fiat.

IMO most of the banks' profit should come out from their credit facilities. That's the main function of banks. Keeping money in the bank should be incentivized by banks hence the interest on deposits. The fees on other services should either be free or negligible for the average joe. After all with the current available technology an email notification costs the bank practically nothing. Of course banks have overheads like offices and personnel, but that should be easily covered by the interest from their main activity --> lending.

It is not generally good for the long-term when the state makes interventions in the economy. I personally don't support it, but there are situations when it is necessary, I guess.
I don't understand what "#" means though.