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In this video, I discuss the many reasons why Bitcoin is a much better savings and spending technology than banks.

When you hold money in a bank, you have to worry about the regulators and the government that controls that bank.

You also have to worry about bank runs. Banks are unstable, highly levered structures that can implode overnight if confidence in them falters. If a bank run happens, you may or may not be made whole by a bailout.

Banks are notorious for carrying out the will of political elites, censoring political enemies, minorities, etc.

By contrast, Bitcoin allows you to send or receive money 24/7 (even on weekends and bank holidays) without needing permission from anyone. Bitcoin is open to everyone, regardless of race, gender, net worth, nationality, politics, or other ideological opinions– and it’s censorship resistant.

Bitcoin is a new form of money that we can hold ourselves without having to trust a bank to hold it for us. Bitcoin allows you to hold the fruits of your time and labor in a form that cannot be confiscated, or debased through money printing.

Bitcoin has no counter-party risk. It’s a bearer asset like gold, but adapted to the modern digital world.

Bitcoin can be sent instantly anywhere in the world, or sent to yourself after you move to a more friendly economic or political jurisdiction.

With your “Bitcoin bank account,” all you need to do is memorize 12 words. You can cross any border and “reconstitute” your Bitcoin on the other side using these 12 words. Bitcoin is a life raft for refugees, who would otherwise risk losing everything, whether it’s Germany, Rwanda, Ukraine, etc.

Not investment advice! Consult a financial advisor.

How to live on Bitcoin (playlist):

Banks dying:

Celsius freezes withdrawals:

Ethereum devs gets to decide when you get your money back:

Ethereum limits full Shanghai withdrawals for 18 months

New PayPal Policy Lets Company Pull $2,500 From Users’ Accounts If They Promote ‘Misinformation’:

China freezes bank deposits:

Canada freezes then unfreezes protestors’ bank accounts:

Argentina freezes bank accounts:

Lebanon closes the banks:

Circle freezes USDC at law enforcement request:

Bank of Cyprus depositors lose 47.5% of savings:

Banks discriminating against minorities:

Satoshi understood the central banks and banks:

Falling purchasing power of US dollar over time:

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.

My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.


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