I Hate When Banks Do This!!
6 years ago in #life by byrondallen (59)
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Yes, they act like your money is theirs because the government rewards them for having it, not you! They make so much money off your deposit being listed on their books, meanwhile lending it out, that they really do feel like you're taking their money when you withdraw it from your account.
Crypto is here. Great insight on the original hodl concept transforming as more people get into crypto wanting it to be a transactional currency. We'll see how that goes. It really isn't that great as a transactional currency if you look at anything that is likely to satisfy investors wanting rapid appreciation. Who wants to pay with anything today that's worth 10x as much in a few months?
I know I'm going to HODL the coins I got unless there is just some big emergency or something. This is part of my investment portfolio as I create my path to wealth and freedom.
Maybe one of the other coin such as Tether or NuBits can be used as the transactional currency?
I think that at some point, crypto is going to become the new stock market. Just a thought without investigation though.
So here's the interesting thing, is it about blockchain technology transforming tech beyond the internet, or about crypto that secures the blockchain transforming transactional currency beyond fiat, or about crypto transforming investment markets like commodities and stocks? Or is the transformation in the deeper integration of technological solutions and currency than we've ever experienced before? Or is it the decentralized destruction of the 3rd party arbiter of official truth? Or in the exposure of the values system that secretly lies behind the money we already use, and awakening to the idea that there might be alternative measures of value that we align with more than corporate or military dominance? Or maybe the way it allows for untraceable transactions, so that there is both privacy beyond the reach of governments AND radical transparency that is virtually impervious to corruption? Or is it simply a hot speculative market in which lots of money can be made?
Crypto is revolutionary in so many ways, that I think it is impossible to say at this juncture which it is primarily going to be known for. It is definitely going to do all those things to some extent.
Wow you really put it into perspective with all of the possibilities that are out there for blockchain technology and crypto. Like you said it is impossible to know what it'll be known for but what we do know is that it's changing the world as we know it!
Yeah, if they feel it's a "suspicious" transaction (and the definition is subjective to each banks policy definitions), they will ask you a bunch of invasive questions. They are filling out a report they will send into the government. Tellers are even instructed to fill this out if they just "feel" it's suspicious.
I know that whenever I take out more than a certain amount of cash from the bank (I leave enough in their to pay bills - everything else is sucked out in cash ASAP), within 1-3 days of doing so, I will get 1-7 phone calls from "private numbers" some of which never go to voicemail. Once, one rang for 23 minutes straight.
The larger the amount of withdrawal, the faster the private calls come. Now, when I get even one of those, I take the battery out of my cell phone part of a day. It usually stops after that.
There was a law passed - I can't think of the name off the top of my head -- but it basically is ruled now that any deposits in the bank, now become the banks 'securities' in the event of bank failure.
Meaning? Your deposits ARE their money!
Yep. It's TOTALLY DISGUSTING once you really start looking into it.
Another reason why decentralized crypto is so awesome, as well as the good ol' genuine gift economy.
Hey Banksters -- fill out your damn form on the smile I just gave to that stranger. They were struggling with thoughts of suicide, but my genuine smile and eye contact for that brief moment, helped them NOT DIE today. Put a price on that. Fill out your damn form and call me suspicious because I WON'T use your monopoly money one day. NOT. AT. ALL.
People are becoming more aware and they are getting tired of it.
Thank you for the great article on the issues with banks. Your work has been review and curated by the @buildawhale and @upmyvote team.
You can find the curation here:
https://steemit.com/curation/@buildawhale/buildawhale-curation-digest-03-26-18
This is spot on! "It was created in the spirit of revolution" when talking about Bitcoin! The banks hate it because they can't control it and that makes me soooooo happy! haha I have believed for a very long time that one of the most corrupt organizations on earth are the banks. They could get away with murder (probably literally), and it is about time people are standing up to them and using a currency they don't have their hands in! :)
I think that the power the banks hold will slowing begin to disappear!
Plus it is just exciting to be part of something that is truly considered a revolution! :) haha
Great post!
I think you're just as excited as I am about the whole thing! It's a great feeling to be ahead of the curve on something like this!! I followed you BTW. I need more health posts in my feed.
I hate it when they ask you to sign the transaction paper than stare suspiciously at your scribbling - that after already checking your ID.
I swear the bank is the only place I have to sign my name or write anything with a pen, for that matter... move on, people...
It's pretty ridiculous how they treat their "customers" at times smh
Taking out a bond to buy a house has become more personal than visiting the proctologist! Buying life insurance is just as bad, they quite literally want your blood to do so!
It would be surprising if one day they started requesting the blood as well haha
Never done a medical for a life insurance policy? They draw your blood for testing.
I was speaking on taking out a bond haha
Probably just a matter of time :D
Yeah, the crypto is the future. The funny thing about banks is when they advertise those 10-15% per year, knowing about that is happening in cryptoworld, it make me laugh. ☺
Yeah crypto is killing it for sure! If you want to lose your purchasing power then just let it sit in the bank!
When the bank tries to sell me investments that gain 7% yearly, I laugh and tell them We make that in a day in crypto. BTC has outperformed every investment for 9 out of the last 10 years.