The reason banks fear cryptocurrencies

in #money7 years ago

I remember going into the bank with my mum as a kid. It was always like a scene out of Mary Poppins with suited and booted blokes staring grimly at the customers and two- piece wearing old dears sat behind the counter. they reminded me too much of the school headmistress.
"You'll be getting an account here too when your older dear," Mum would tell me. "Proper bank this one. Where all the posh people keep their money."
We were a lot of things but posh was never one of them, but she was right enough. I got an account at the same bank. Even taking my own kids there and telling them what a wonderful bank it was.
The television has been loaded for years with bank advertisements. All of them offering the same product in some faux smile to assure us, that with them, our money would grow and grow. We believed them and loyally parked our hard earned in their vaults.
It was all bullshit.
Anyone that still has loyalty to a bank after the crash and bailouts must have been living under a rock, and this is why they fear cryptocurrencies of any kind. There is no customer loyalty and very little marketing. Crypto just is and just works.

Reading here on Steemit the experts discuss the multitude of options was an eye opener for me. Nobody once mentions loyalty to any particular name.
Sure, Bitcoin is reasonably stable and has developed a trust, but tomorrow we might all be in Etherium or of course Steem.
We'll go wherever the best option is on the day and feel no remorse for doing so.
This is the last thing the banks want.

Crypto-currency has removed any credibility the banks have left and they are now dependent on government regulations to force us to use their services.
The campaign to discredit crypto by aligning it with terrorists, perverts and any other criminals is a last desperate bid to drive us back into those warm and friendly bank manager's offices, cap in hand and so grateful they could give us the time of day as we gave them our money.

It is done. It is over.
Today, our choices just exploded and we have a freedom we have never experienced before. We get to use our money in our way and we are always in control.
Embrace it. Utilise it and spend time on here finding out your best options in this revolution of the "People's money."
In the future, banks will be visited like we might visit the pyramids. Relics of a past of slavery.

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"Relics of past slavery." That is awesome. Great post.

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