30 reasons cryptocurrency will kick ass of banks

Dashmaximalist

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Mar 16, 2017
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30 reasons cryptocurrency will kick ass of banks @Mark Mason check it out

1.Open a bank account easier than opening your email account
when was last time you heard a bank make this statement?

opening a banking account is one of the most harrowing experiences in the modern world, you need to fill up bunch of forms, show your passport, income statements, address proofs, some banks even ask for your fingerprints, God dammit, i just need to open an account to send some money to buy some s*** , not fund North korea’s regime and take over the world.

2. Single word account numbers
we as humans have put man on the moon, but somehow can't fix the legacy banking system which has sort code, IBAN,IFSC, REGS, SWIFT code OMG enough is enough

Crypto is all about single word account numbers and qr codes like the one shown below.



dash XqL4pEPDPZPBAGWmLJPxvukCwvWE6Qu4zS
3. Hell with the transfer fees
why should it cost money to send money ? last time i checked we got rid of the gold standard so that it doesnt cost anything to move the otherwise worthless fiat currency. it costs 10% or more sometimes to send money to the developing countries where most people make less than $10 a day , now i know why bankers are called banksters.

Dash costs 1pence for transferring any amount of money , are you listening banksters ?

4. Hell with account fees
Yes i have a bank account but’s not a puppy that you needs feeding everyday is it, its just a database entry , Google doesnt charge me anything to open an email account. why does it cost so much money to just open a damn account anyway

5. And it takes days to transfer money
Omg you charge so much for account fees in transfer fees , still it's not instant ? Most international transactions takes days or sometimes even weeks.

sending money internationally is often so slow, the joke is, its actually faster if you physically travelled and handed over cash to your friend.

Now crypto makes it happen in secs to anyone anywhere in the world at the speed of light aka electromagnetic waves aka internet :)

6. Machine to machine payments
Imagine you drive into a parking lot and your car paying the parking lot in real time without you pulling out shit, sounds like sci-fi ?

Ok no more banker bashing, this is just impossible for banks.

7. Inflation, inflation, inflation
Inflation sounds like a fancy chemical compound that can react with anything in the world and destroy it. Turns out inflation is much worse , inflation is the reason why your money buys less and less with every passing year as banks print more and more money.

isn’t printing money a federal crime you ask , not for the banks.

8. Fractional reserve lending
Its not a maths nerd’s catch phrase, it's what runs the big bank’s profits, banks only keep a tiny little fraction( like 1–5%) of your money in the banks and lend out the rest so they can make a profit on that by issuing all the fancy loans to you and me. So if all of us went to a bank and took our money, only 5% of us can get our money back , does this sound like a conspiracy theory ? It’s not..

crazy thing is it's completely legal
and still banks charges fees for transactions , account handling ,issuing checks , don't ask me why

9. Identity Theft
The first time i heard of identity theft it felt like great, it felt like i am an important person to others and people want to have my details, turns out it's partially true.

Hackers make you feel like celebrities up until they gather your details and use those to contact banks to steal your money or load up credit cards.

with crypto there’s nothing to steal from you only ever give your account address( public key like this XqL4pEPDPZPBAGWmLJPxvukCwvWE6Qu4zS ) while your password ( private key no way sorry !) remains safe in a hardware wallet.

10. KYC AML blah blah..regulations blah blah…
your account has been put on a temporary freeze ?

how can my account be frozen, frostbite huh ?

No sir, your account has been put under a regulatory scanner while we clear out few things , meanwhile can you please give your passport , your address details , your income statements, your car no, your DNA sample, your father’s DNA, your Ancestor’s DNA basically give all the details tracing yourself to ADAM and prove that you are truly God’s creation.

But i have already given them to open my account, damit

I hereby declare that my money can no longer be put under regulations as i am the king of my money.
11. Privacy
So you are saying the government knows when you buy porn online ?
Now you are saying a hacker stole all this info from govt?
Now you are saying this hackers threatens to give this info to your wife if you don't pay a hefty ransom ?
Now you are saying you gave the money , but the hacker gave this info to your wife anyway ?
Now you are saying your wife is really angry you gave a ton of money to a hacker and wants to divorce you ?
Now you are saying you lost your house, your kids and most importantly your dog?
Now you want to become a legendary serial killer ?Stop it there.

Be a true christian, stop your lustful urges or move your money to dash.
 
Last edited:

Stuart Rolinson

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Oct 6, 2017
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Firstly, great post.

I do think the key to the mass adoption of digital currencies is simplification of the user experience and education. I think back to the switch from signature to chip and pin across Europe and the money that was spent to educate the public was significant.
When I think about digital currency there are many challenges for non technical or very interested people to overcome first. The friction levels are high at the moment and although there are things coming that will simplify this, we should learn from the financial services industry and create products that resonate with the general populous, such as savings wallets, general payment wallets etc. Make it simple, market it correctly and adoption will increase.
 

DashDude

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Jul 10, 2017
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I agree that crypto will change the banking world and with most of your points. However, banks won't go away. There will always be borrowers who want to borrow and savers who want to earn interest. Banks do a good job of providing this service and will continue to do so even if crypto takes over. Some smaller loans can be done in a decentralized fashion, but larger more complex loans benefit from having a skilled intermediary like a bank.

The other misconception I see a lot in crypto forums is the idea that crypto would end fractional reserve banking. Fractional reserve banking can be done with crypto the same way it's done with fiat. The only way fractional reserve banking goes away is if the government eliminates it either by outlawing the practice or by raising reserve requirements to 100%. Alternatively, savers could refuse to deposit money in an institution that has less than 100% reserve. Frankly, however, I don't see either of these things happening and expect fractional reserve banking to remain.
 

camosoul

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Sep 19, 2014
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I'm really confused be the anti-christian slant it has....

I'm about as "praise the Lord and pass the ammunition" as they come, and I'm all for DASH...
 

Mike Crypto

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Jan 3, 2018
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I like your passion man and I completely agree with you, but we also have to be very professional and strategic about long-term implementation of Dash and our projects. Making major changes in the world requires that we focus on education and outreach while being very professional and smart about our arguments and lobbying. World is changed by intelligent people, not rebels. Do not get me wrong, you can be an rebel, but you just have to be a very professional one, otherwise no one will take us seriously if we start saying F banks, we are the kings, free world. etc. Working our way up professionally and being understood well by the general community will result with everyone getting the point of what we stand for.
 

Dashmaximalist

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Mar 16, 2017
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I like your passion man and I completely agree with you, but we also have to be very professional and strategic about long-term implementation of Dash and our projects. Making major changes in the world requires that we focus on education and outreach while being very professional and smart about our arguments and lobbying. World is changed by intelligent people, not rebels. Do not get me wrong, you can be an rebel, but you just have to be a very professional one, otherwise no one will take us seriously if we start saying F banks, we are the kings, free world. etc. Working our way up professionally and being understood well by the general community will result with everyone getting the point of what we stand for.
Thanks a lot for your advice I will keep that in mind , this article is more geared towards young crypto noobs and giving a little laugh to folks.
 

yocko

Member
Feb 7, 2017
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behind you
Dash Address
XqWRVQSoUyrMQ7TDHqz5zcFd1xxdQEDR3D
The banks in Australia are doing all they can to stifle crypto growth. Australian crypto business are being de banked at an alarming rate. I'm talking about the big 4 banks In Australia as well.
I know personally 4 localbitcoins.com traders who have been given life bans from the banks without explanation. Other business like coinspot have recently had to stop offering their service to Australia due to the banks.
The Australian government changed the double tax to a fair tax system for digital currency to grow digital currency business, yet the banks say they won't deal with digital currency business because it's lacking regulation! Where and when did our banks become our regulators above government regulation?
The power these banks are trying to wield and damage they are trying to do to the growing crypto currency ecosystem is outstanding.
 

KollySeum

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Nov 1, 2017
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It was useful to know. I know that such cryptocurrencies like Ethereum, Litecoin and BitcoinCash are becoming popular because these they are decentralized, meaning no one central authority manages it, they are completely digital in format and are run on a peer-to-peer network called a blockchain. This makes them secure, anonymous and instantaneous. I read about it on article "Bitcoin Casino: Your Guide to The Best Bitcoin Options for Gambling #1 Bitcoin Casino Guide - Cryptocurrencies for Gambling" . It's not only profitable to play in online casinos with bitcoin but fun and minimum risks.
 
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Dashmaximalist

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Mar 16, 2017
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The banks in Australia are doing all they can to stifle crypto growth. Australian crypto business are being de banked at an alarming rate. I'm talking about the big 4 banks In Australia as well.
I know personally 4 localbitcoins.com traders who have been given life bans from the banks without explanation. Other business like coinspot have recently had to stop offering their service to Australia due to the banks.
The Australian government changed the double tax to a fair tax system for digital currency to grow digital currency business, yet the banks say they won't deal with digital currency business because it's lacking regulation! Where and when did our banks become our regulators above government regulation?
The power these banks are trying to wield and damage they are trying to do to the growing crypto currency ecosystem is outstanding.
yes i couldnt agree more , banks have been wield their might in crushing the budding crypto exchanges , but the darkness is nearly over, dawn is coming. Banks and finance minister have done all the damage they could possibly think of, crypto has survived it in the next few months we will see the results , these banking dinosaurs can't stop the crypto revolution, they will realise this very soon.

https://www.express.co.uk/finance/c...rrencies-bitcoin-price-ethereum-dash-litecoin