The deeper I get into the world of Crypto Currency the more I ask myself the question about how stupid do banks think we are?
I have recently written a post with the same question where I ranted a bit about the way banks takes advantage of their customers. They do this without any shame as we are dependant of our salaries, which is paid into our accounts from where we spend the money and then they charge us for their "Services". You can read my previous post here
Check out this tweet from @lopp which highlights the DAILY GROWTH of Bitcoin over the past few years/ Now in South Africa you get around 6-7% interest from a bank PER ANNUM I am not sure about other countries but this is here.
BITCOIN DAILY Growth since 2010
- 2010 +0.28%
- 2011 +0.76%
- 2012 +0.26%
- 2013 +1.11%
- 2014 --0.25%
- 2015 +0.09%
- 2016 +0.22%
+2017 +0.66%
Credit to James Lopp
I also loved this image from @stephenkendal which he recently tweeted out.
Image Credit to @stephenkendal
And this is only Bitcoin. Just think what is happening with the other crypto currencies.
Today 2017-06-06, we have seen Bitcoin hit another high of $2900. Where will it end?
My suggestion is that if you are working for a bank or financial institution, I think it is time to start looking for another job as banks will be redundant in the next few years when Crypto Currency is adopted by the masses.
Happy Steeming!
It' s bullish is considered to go for a couple of years. Guess Steem follows up to this crypto trend. It certainly deserves more value and more attention. As for Bitcoin, it's simply too late to replace it, so we can expect it 10k in a few years or nearer.
Agreed, I my opinion it is going to hit 10K sooner than everybody thinks ... or not :)
50/50%
Indeed 👍🏻 followed 😎
the banks think that we are very stupid and sincerely a big part of us are stupid and just accept things as if they were a punishment from god almighty.
banks take advantage of people since banks were created and they will not disappear very soon but they will become like the wall phone people have at home that is sometimes useful but you can make it without it
I guess we will keep old check books in museums :) Now that I think of it I wonder how many people can still remember check books :)
Image Credit
hahaha ...I have never had one ..but i remember my parents had
hahaha, I actually used them. It feels like an ancient way of doing things :)
May the bankers wither and die errr.... sorry, I meant wankers {grin}... I wrote my last cheque on 31 December 1999..... have not seen one since. I guess they are all in the post.
It is infuriating to hear friends, family and colleagues quote mainstream financial media about 'bubbles' and 'scams' ...
I may have told you this already but Gartner London told myself and our CIO that Blockchain is 'A FAD' and not to waste too much time on it.
Luckily we caught the FAD at the right time :). Thank you for a great comment @themagus
A perfect example ....
https://www.cryptocoinsnews.com/bitcoin-speculative-asset-no-intrinsic-value-says-business-insider-founder/
From the article...
Aishhhhhhh !!
Great article mate the banks should be worried
Thank you @mikenevitt and I agree in totality
Lol. Bitcoin just hit 2900 USD while I was asleep.. damn.
I was watching it happen and got some more around two weeks ago when it went down :)
Nice Call.. ;)
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Disclaimer: I am just a bot trying to be helpful.
Thank you @twitterbot, exactly what I wrote about :)
nice post!
Thank you @luthanh2001
The laws make companies pay to banks. Because the money is locked up there people use banks. Sorry, banks are not going away soon.
I agree that they will not disappear overnight. I am more talking about long term as I cannot see a reason for banks when CryptoCurrency hits mainstream.
I think some banks will be smart enough to adopt cryptocurrency and/or blockchain technology. And i think people will not mind that it is centralized. Financial institutions are in the best position to take advantage of cryptocurrency. They could help or explpoit the technology.
I think they will try to adopt it, but not sure what they will want to do with it. My question is how will anybody benefit from having somebody to you manage your CryptoCurrency Wallet as the "Wallet" i my opinion is the replacement for a Bank...
Banks have taken a lot from us. Now they need to pay back for us.
kinda kicking myself everyday i see bitcoin go up that i never just invested a bunch at the start, i did some mining and got my investment back (and some) but i could have really set myself up properly if i had done that early investment! - hoping not to miss out on steem! :)
@teamhumble, my strategy is to build as much Steempower as I can. In my opinion that can be your retirement policy in a few years.
i hear you dude, i hear you! :)
banks think we're pretty stoopid.
from the record i'd say they're mostly right.
25,750 million?! more like 29 million! Great article!
Thanks :) @locos
I think the present rise may due to Chinese government controlling the foreign exchange so that the Chinese invest on bitcoin to escape the money from the government's supervision.....
The situation will sustain for an long period of time as long as chinese government strictly control the foreign exchange....
That's why byte coin, sai coin and others are so attractive to me at only .003 per coin right now
Not every coin will see similar gains as BTC, don't expect to make money on penny stocks. Plenty of coins have died, don't be fooled by survivor bias.
I am curious whith bitcoin
I feel positive about crypto currency and I also believe it is the future!
Bitcoin stocks on a tear last few days a something new and exciting to consider. Here is the latest one I did a quick write up about, up 100% just today. Links in the article to the other ones as well.
https://steemit.com/cryptocurrency/@motowngold/1-more-bitcoin-stock-coin-citadel-cctl-0003-share-at-time-of-writing
Definitely going to be fun to watch and be part of...@jacor
On top of that, banks are extremely expensive. Especially in France. I am paying more than 100 EUR to have some people kind of gambling with my money. Unfortunately, I cannot get rid of them (in particular if want to get my salary).
I don't know enough about cryptocurrencies, which is one reason I followed you. You earned the upvote. Nice post.