Bitcoin cannot replace the traditional banking industry because banks provide many different services to us. But bitcoin can be our own bank, with bitcoin, we have full control over our assets. In terms of storing bitcoin assets, it is more secure than traditional banking. For example, when SVB goes bankrupt, if you deposit money there, maybe you won't lose your money, but if you need the money urgently and the bank collapses, you won't be able to withdraw your money to deal with the emergency. But with bitcoin, you won't have that problem, you can use it anytime.

First we don't need banks. Second, yes to all. Can't do it in your country? Move to El Salvador. Blame your politicians for being fools, not Bitcoin.

Please go through this thread -  While Everyone was Talking about El Salvador! We forgot about Guatemala

All this listed payments ways are visible when bitcoin becomes legal tender like the fiats in banks. Almost all this seems payable with bank transfers so I don’t see the reason why it can’t be payed with bitcoin. The only thing is the recipient willingness to accept the payment in bitcoin. Although we aren’t there yet but gradual with the recent increase of business accepting it as mean of payment then one day we would all those listed been payed with bitcoin.

Also social media is a place where everyone say what they believe is the truth, Michael Saylor might be saying something good about bitcoin that doesn’t sit well with some people but they are also some lnfluencers tat say Worse against bitcoin. But no matter what is said no FUD or media stereotypes can tarnish bitcoin image

There it is, that's the problem here, to be honest. Why would anyone compare bitcoin to a bank? Does anyone tell us or wrote any guidelines that bitcoin is made so that we can compete with real-world banks? Satoshi's simply stated that you can be your own bank or chose to have the freedom of transacting anonymously and without any limits. Those were the premium features that he offered through bitcoin. He never claimed that bitcoin should be used against the banks and compared the benefits. THe vision was simple, have your own bank!


What's the point here? No one would use bitcoin for those purposes considering the current drive of holding and earning profits with it! In the future we may start having those offerings through stable pricing or a system that will correct the bitcoin deduction as the prices change and have the  stability issues resolved.

But seriously we don't have to pay all those with bitcoins.

Op, your topic need to be restructured, bitcoin is not building or a structure that can be bank where coins or currencies will be kept. Or Michael Saylor has a parochial view on bitcoin. Bitcoin is an online currency that can be used for exchange. In the nutshell, bitcoin is money for exchange. And for 4 questions, I capitalize on YES. But all depends on the country's adoption and the awareness of people on bitcoin. If the awareness is very high and the adoption is more then one can use bitcoin to do all the above mentioned, like my country we can't use bitcoin to do all that except bitcoin lovers, which is about 0.0001%. I am just estimating that percentage to let you Know that the adoption is very much few. Which is not even up to 1%. Therefore, if the country adoption is high then you can use bitcoin for all that.

Developers are making a lot of development for bitcoin network. And I know that all these bills will be possible with bitcoin. El Salvador already made bitcoin legal tender. I don't know about another country. But I know some other countries are planning to do same. Have u heard about bitcoin lightning network? If you know about that, you will know that a lot is possible with bitcoin.

I think you made a wrong interpretation of the tweet. Bitcoin can be some type of revolutionary bank that is unique these days. But do not get confused about the difference between a bank and a bitcoin. Bitcoin is a currency, it is not a corporation that is centralized. The best way to compare bitcoin is to fiat. Sooner or later if countries will allow bitcoin to become a legal tender then all the questions you raised OP are possible. Banks and businesses in the future will accept and use bitcoin for their mortgages, house rent, bills, medical bills, and many more.

Ehh I mean it just depends on how you look at it.  Bitcoin technically would only be a "bank" if it was simply an asset, or means of currency that a bank used.  At that point, that means that a company of workers is behind the bank, and they will certainly charge fees, be able to freeze accounts etc. 

Now I know this is not what he means, but that's what banking is.  Banking is lending, accounts etc..and that's not what bitcoin is..it's simply a digital currency/asset.