30 Reasons cryptocurrency will kick ass of banks and take over the world
Why Crypto will be the biggest revolution mankind has ever seen
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.
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 it’s not a puppy that 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 and keep it running.
why are there minimum balance requirements, OMG
5. And it takes days to transfer money
you charge so much for account fees and in transfer fees , still it's not instant is it? 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 a celebrity up until they gather your details and use those to contact your 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.
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.
12. Bigger privacy
Privacy is not piracy, privacy is a fundamental right and financial privacy is a matter of life and death, especially in oppressive regimes ( like 80% of the world), where exploitation by the powerful is a common theme.
The ability to not show off your wealth to others creates more egalitarian society where the people are not judged based on their networths but based on character and innovation.
All this was never possible because our money was never truly private.
13. Money 2.0
crypto is not just money , its money on steroids. You can everything that you can do with money but much more like property records, notaries, decentralised stock markets, multi-signature accounts , time locks , smart contracts and much more.
here are 30 things blockchain can do for you https://medium.com/yope-chain/30-things-you-can-do-with-a-blockchain-b23b2ab39664
14. Adblockers .. God’s wonderful creation.. right ?
Thank god for Adblockers that kill all the annoying ads, but you know who also gets killed when you kill the ads, the content providers.
Publishers rely on ads to fund their journalism but killing ads also takes their revenue off , now here’s a solution , Micropayments.
Using dash you can pay 100th of a penny for reading an article or watching video as you browse. So the publishers gets paid a little something and you don’t have watch penis enlargement ads constantly, Now how does that feel ?
15. Get rid of of costly heating bills
You must have heard the media bash cryptocurrencies saying that they suck up lof of power.. blah blah right.
What they don't tell you is this ..they are lot of startups working on using the heat generated from dash/ bitcoin mining to heat up your house. The money generated from mining this way will more than pay your heating bills as mining is incredibly profitable.
16. Wars , WMDs and budget deficits
Do you know that the WMDs( Weapons of Mass Destruction) they claimed for waging war against iraq were not found to this date ?
Do you know that 70% of british population was against the war ?
Do you know the Iraq war’s true cost is upwards of $7 trillion dollars ?
Do you know they pay for this shit by printing more and more money ?
Do you know that printing money causes Inflation ?
Do you know that you just read about inflation in the previous section , you idiot..
17. Currency controls
Most developing countries in the world have a strict currency control regulations , even though they don't have any regulation against public urination.
Currency controls are a means to deter people from taking their money to other countries and a means to trap them in their suppressive regimes.
Lifting currency controls are the best tool for stopping millions from falling into poverty when a country is under stressful conditions like war or hyperinflation.
Thank god for hyperinflation, overnight millions of zimbabweans have become trillionaires. But unfortunately most of those trillionaires are starving as the money was values less than the paper it's printed on.
Hyperinflation happens when a country runs excessive budget deficits and keeps printing money like theres no tomorrow.
19. $20 Trillions and counting
Speaking of budget deficits and national debts , the american national debt just crossed $20 trillion and it doesn’t look like its going to stop any time soon with Trump thinking of spending much more than obama did.
The day world realises this and stops buying american debt the interest rates will shoot up , when that happens, the entire budget will be just spent on servicing the debt.
Guess what happens then ? Hyperinflation and you become a paper billionaire .. good for you.
20. One world one money
Doesn’t it suck that you need to exchange your money every time you want to travel abroad.
Doesn’t it suck that you pay super hefty fees doing this.
doesn’t it suck counterfeit currency rackets are entirely run by fooling tourists
21. Make a ton of money
By the very nature of cryptocurrency they are limited edition like ferraris and lamborghinis which means when the demand increases the prices go through the roof.
As more and more people realise this more and more people will get into crypto and it creates one gigantic carry trade, where you borrow say in dollars, euros or pounds and you buy dash. As more and more people do this, value of cryptos will increase and the value of fiat currencies decrease so what happens is you end up paying lot less to the banks than you borrowed.
22. wonder why others don’t get this shit :)
Once you are in crypto world and you understand that fiat money is fraud , you often wonder why others don’t get this when its a clear writing on the wall.
23. yes bad guys will love this too.. but
yes drug dealers will love crypto and demand junkies pay in dash, but thats what liberty is about, giving full control of your money to you, not putting arbitrary rules on it.
Whatsapp is used by terrorists because of its encryption but you are able to send pics of your j*** to your lady friend because its so secure.
On the plus side global drug market is about $2–5 trillion, so if all those drug dealers start using crypto , the prices would sky rocket and take down all major fiat currencies like bunch of dominos.
24. Steve Jobs will love it
Steve jobs revolutionized smart phone industry by inventing this shiny new thing called Iphone, because of his love for design and users experiences.
Cryptocurrencies which are built on open architecture much like internet will enable many such wonderful applications that will simply blow your mind.
did you imagine amazing apps like facebook / whatsapp in the 90s ? right when a new architecture starts up its very difficult to predict the future possible applications
in the future you could be doing a crowdfunding for an african farmer sitting in your manhattan apartment or donating to victims of hurricane irma from tokyo in a gamified way by playing a online game or something who knows !
25. Stop just liking stuff
when you watch a video of starving kid in africa or a revolution in ukraine and give a thumbs up , its means nothing tbh. Sending a bit of spare change means something.
you cant send 50 cents to this person coz the cost of sending money abroad is $5 minimum.
26. you want to change the world for better, but you are lazy
You know all those great idealists who fought for our freedoms and did something amazing with their lives instead of just being couch potatoes
now you can do that but don't need to get killed by riot police.
A transparent financial system is the founding block of a fairer society , without transparency fairness can never be achieved.
27. you hate Big bank bailouts
when big banks got bailed out by govt in 2008 financial crisis , govt said if they dont bail the banks the system will collapse. if you and i make bad bets and run up some debts and cannot repay them ,the govt doesnt bail you , it puts your ass in the jail.
why should the big banks get a separate treatment ? coz they are too big to fail , because they control the most important technology of our society ‘Money’, but hey we don’t need them anymore coz we got dash, the world’s first decentralized autonomous organisation that along with being a crypto currency also functions as a full fledged bank.
28. You hate your dictator
Imagine the fate of a syrian refugees, a thriving middle income country was forced into war and one of the worst humanitarian disasters of our decade. Millions have been forced to beg for their lives in alien lands even though most people where pretty well-off prior to the war.
Now imagine the ability to convert all your assets and quietly move to a new country, no guards checking your bags to see if you are carrying $10,000 in cash or gold, no capital controls to stop your money. all your money can be simply converted to bunch of 12 words that you carry in your mind.
This very threat of mass wealth exodus will force dictators to think twice before their rolling out oppressive ideologies.
29. The Crypto community
when was the last time you read a fun filled article about banks anyway ? the crypto community is one hell of geeks, nerds but also fun loving and very giving community.
Its open source and money , can’t get much better does it.
30. The big reset
Fiat money and cryptocurrency are like oil and water, so most businesses that are built around fiat currency like big banks, forex markets, money exchanges will become obsolete. 1000s of new businesses and companies will drive world towards a new level of efficiency, creativity and entrepreneurism like we have never seen before.
Virtual currencies will give a run for your money central banksters ( sorry bankers i mean )
Christine Lagarde — head of International Monetary Fund
For instance, think of countries with weak institutions and unstable national currencies. Instead of adopting the currency of another country — such as the U.S. dollar — some of these economies might see a growing use of virtual currencies. Call it dollarization 2.0.
IMF experience shows that there is a tipping point beyond which coordination around a new currency is exponential. In the Seychelles, for example, dollarization jumped from 20 percent in 2006 to 60 percent in 2008.
And yet, why might citizens hold virtual currencies rather than physical dollars, euros, or sterling? Because it may one day be easier and safer than obtaining paper bills, especially in remote regions. And because virtual currencies could actually become more stable.
So in many ways, virtual currencies might just give existing currencies and monetary policy a run for their money. The best response by central bankers is to continue running effective monetary policy, while being open to fresh ideas and new demands, as economies evolve.