Banks are safe, Crypto is for Criminals
Last Week we had the distinct pleasure of co hosting another fine crypto meetup and one of the guest speakers was the Lovely Magdalena from Luno. For more info on their project go to: https://www.luno.com/
One part of the presentation talked about the fact that a lot of people still think that crypto is only used in criminal activities and of course that we should stick to the banks and let them take care of our money.
Banks are safe
&
Crypto is for criminals
Sadly this is still the reality in the state of mind of a whole lot of people in the world. Out of the be billions of people on this planet there are only 35 million that hold any crypto at all.
So why does everyone keep thinking that the banks are a safe place and that they are trustworthy?
there have been 243 BILLION dollars fined since the financial crisis
Standard Chartered bank pays 340 Million in settlement after Laundering Billions for IRAN for years
Dankse Bank Laundered 230 BILLION for Russia
https://apnews.com/25204f3ee9fa4e948ea74a0e82249258
So there is an estimated grand total of roughly 2.9 Billion dollars per day (you read it right, PER DAY) being laundered by our trustworthy banks and so far there is about 9 million in the last 2 years through crypto exchanges.
Now I am aware that the crypto markets are really small compared to the world economies but on the other hand it does make you think
Why make such a big fuss about the crypto exchanges if you see what is going on in the real Fiat world??
As far as I can see the crypto space is in the process of self regulating a lot of things and this is one of them.
Lets hope that we can show the world how things are supposed to be and not let the banks lead by example and take over and continue things in the blockchain space
Yes this is so true.
Crypto can provide true transparency, accountability and self regulation that will be a vast improvement on the current centralised banking system that is so opaque, unaccountable and full of "captured" or corrupt regulators.
yes, transparency will go a long way and blockchain will be a big help
Maybe people think so because it is subjected daily to the mass brainwashing, through systems controlled by bankSters? ;)
creatures of habit is what we are
Yes, absolutely true! 👏
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I think what bothers a lot of people with crypto is that they believe that a couple of individuals can move the whole market (which is also the deal), and they always continue to HOPE that with banks this is more transparent...
we know better :)
well it is only a 100 billion market, so that is even possible to manipulate for a few individuals or groups
Someone wrote about how disruptive technology is always hated and dismissed at first. Cars were hated by those who said they would never replace horsedrawn carriages. The internet was called a fad. Etc. Perhaps the level of opposition from the status quo signals a bright future for a new technology.
Banking without banks? That will never work.
let us hope so, that sounds like a nice future. a lot less money will disappearing if this would come true
because in the end, the ones that are paying all these fines are not the banks but their customers
Truth!
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