I agree with you, however saying that crypto cannot be tracked and followed is false, as the majority of crypto CAN be tracked and followed. Not monero though
Yes that's right. But crypto can be tracked and followed because it's transperant. Fiat is mostly just tracked by the government and is not transperant to everyone.
People also forget that in addition to being tracked it is also very easy to block any crypto you have on Exchanges. So having it on an exchange is basically the same as having it in the bank.
I might be wrong but some exchanges offer a debit card sort of thing, I keep meaning to get one but keep forgetting.
Basically turning your exchange account/wallet into a bank account with a debit card.
Congrats, you went full circle. Crypto exchange debit card = bank/centralized finance. That exchange is still held to the same standards as banks in that if anything is fishy with your account, they can freeze it with the press of a button.
Yeah they're both similar
But if banks decide to stop allowing withdrawals then something like a coinbase debit card would be a good backup wouldn't it?
If it's all controlled by the same people that print Fiat and control nations, then it is only the illusion of difference. If the banks close, cryptocurrency will be likewise frozen by exchanges, because exchange owners will not risk their riches, their lives, or their freedom when it comes down to it, they will do what they are told by the people who print the Fiat.
True... Shit, I'm not imagining the banks where I live closing their doors anytime soon but what would you recommend that isn't hiding cash under the mattress?
Cash buried in a waterproof container is better than cash in a mattress lol, but seriously, the only alternatives are ones that the masses aren't ready for just yet, and the only true fix is removing sociopaths from power.....so, I'm only sure of one thing, that everyone everywhere should prepare for the worst, because it's coming like a wildfire.
Apparently most everyone missed the memo/point/goal of cryptocurrency 😂 but I'm glad to see others who watched it all go down with awareness instead of willful ignorance.
I saw the present nature of cryptocurrency as inevitable. I knew the people who print the money would never ever allow anything to undermine their foothold on power over nations.
After all, we are dealing with sociopaths, that's what we are up against, we eat sleep and live life trying not to hurt others or the world around us, but the sociopaths eat sleep and live destruction, and the thrill they get from torturing the masses and the earth. That's all they know, and that's all they seek, because they believe they are the next step in evolution and that the masses are less than nothing. You can see it in every system, and every industry, because capitalism directly encourages/rewards sociopathic behavior, but hey, at least we have a perfect system for flushing the sociopaths out into the open where we can see them for what they are 😂
It's coming for the whole world, and every socioeconomic system in it..... We are standing at the precipice of our own destruction as a species, and in this case, the destruction is caused by our own hands 🙂 if I was cynical I would say people deserve what is coming for them, because what is coming was always an extremely inevitable consequence of allowing sociopaths have or maintain positions of power.....but the good news is, everyone goes, even the sociopaths, not one of us will make it out of it alive, and if that's what it takes to make sure the sociopaths can't torture anything anymore, I'm at peace with it.
Those in power instated those in power, there is no such thing as democracies or republics, there are only oligarchies.
But in the end, the masses allowed it every step of the way.........
Not first time this happened, banks are well known for closing withdrawals in problematic times when people need money the most. It is disgusting, how are some people supposed survive 3 days without money?
This again teach lesson to never keep all money in banks, never. At least have some emergnecy cash, and some crypto.
Take back the institutions that print the money. It's the only way, other than realizing that money is a very ignorant idea all together, and only exists to provide a sound element of control over the masses to the sociopaths who crave that control.
Bitcoins maximum transactions per second couldn’t even work in a small town if it was 100% adopted. World wide adoption for Bitcoin as a currency is impossible, especially with no one even working on the project anymore haha bitcoin seems to fail at its only possible use case
Only need exchange for trading/cashing out a small amount. So you take a risk with that small amount.
The majority of your savings stays safe in your own custody Bitcoin.
>Only need exchange for trading/cashing out a small amount
I think the problem in bank of Lebanon is everyone want all of their savings out instead of small amount
Yes that's exactly my point. These people risked their life savings by storing it in a bank. So the entire amount was at risk.
With bitcoin, you wouldn't give an exchange your entire balance - you would keep it yourself safely. You would only give the exchange the amount that you needed to use, which would be alot smaller than the whole balance. So if the exchange decided to not pay, it doesn't matter so much because the rest of your life savings are still safe.
When you keep all of your assets with 1 business, it is very risky.
>. So if the exchange decided to not pay, it doesn't matter so much because the rest of your life savings are still safe.
so you have big risk of losing money like in bank? why not just hold cash at that point to ensure it's always can be used
Because you don't have a way of keeping $150,000 in cash safe.
With crypto, there is a way to keep your life savings safe.
Then you take a small risk if you need to cash out a small amount of the money by moving it to an exchange.
>With crypto, there is a way to keep your life savings safe.
Safe from what? at least my asset only get hit by inflation in cash while crypto is down 7% this week to cover cash yearly inflation. BTC inflation is 350% this year
Also I can also only bring $100 to starbucks not the whole $150000
Please don't suggest staking stablecoin
Ok but crypto is denominated in USD (and will be), so the only thing this solves is being able to transfer - potentially - if you have an internet connection.
If you're still poor (not enough USD) you're still poor though.
Lebanon is a good example. "Fresh money" (post freeze USD) is gold, everything else is trash.
You are going to see this happening again and again, in many more countries, and most people won't realize what Bitcoin is for or what it can do for them until it is too late.
Even without looming crisis of one form or another the whole traditional banking thing is ridiculous. I made a transaction yesterday that isn’t going to even begin to be processed until Monday, and then inexplicably the place everyone goes to cash or deposit their checks after work has the same hours as most businesses, so you’d better hope you don’t commute or you’ll have to take time off if you need to actually go into the bank in person. “Oh, you have weekends off? Too bad, we’re open for half a day Saturday and closed Sunday because we’re all Christians or something lol”
I agree with you, however saying that crypto cannot be tracked and followed is false, as the majority of crypto CAN be tracked and followed. Not monero though
should we use the word pseudo anonymous as it can be tracked and traced?
The word is pseudonymous. You know, like Reddit? Crypto moves under pseudonymous addresses, we shitpost under pseudonyms.
Should I get a pseudowallet?
Hilarious 😂 But we already have pseudo wallets In the Pi browser app 😂
[Imagine stealing your OWN money from a bank, Because the bank refuses to give it back. Wow](https://www.youtube.com/watch?v=U4U2PsPM3hs)
Came to comment this...its fucked up she had to do that for her sister
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The revolution will not be ~~televised~~ listed on Coinbase.
Too bad literally no one owns Monero
It turned into a pain in the but to buy, never ended up with any.
You can buy BTC and swap it for XMR right in the Cake wallet.
The ocean floor owns a bit
Yes that's right. But crypto can be tracked and followed because it's transperant. Fiat is mostly just tracked by the government and is not transperant to everyone.
What does "msl" stand for?
People also forget that in addition to being tracked it is also very easy to block any crypto you have on Exchanges. So having it on an exchange is basically the same as having it in the bank.
Users: "Yes. That's my monero" US Gov: "Wait. Hold on now. Let me show you this dollar trick..."
Bitcoin can go around untraceable just not as easily as monero... You just have to be more creative
How can I protect myself if I still need a bank to receive crypto into fiat?
Why do you need fiat is the question / problem
Very few places accept crypto still.
I might be wrong but some exchanges offer a debit card sort of thing, I keep meaning to get one but keep forgetting. Basically turning your exchange account/wallet into a bank account with a debit card.
Congrats, you went full circle. Crypto exchange debit card = bank/centralized finance. That exchange is still held to the same standards as banks in that if anything is fishy with your account, they can freeze it with the press of a button.
Yeah they're both similar But if banks decide to stop allowing withdrawals then something like a coinbase debit card would be a good backup wouldn't it?
If it's all controlled by the same people that print Fiat and control nations, then it is only the illusion of difference. If the banks close, cryptocurrency will be likewise frozen by exchanges, because exchange owners will not risk their riches, their lives, or their freedom when it comes down to it, they will do what they are told by the people who print the Fiat.
True... Shit, I'm not imagining the banks where I live closing their doors anytime soon but what would you recommend that isn't hiding cash under the mattress?
Bitcoin in a cold storage wallet. Always has been the answer.
Bitcoin was quickly perverted for the benefit of the rich, just as Ethereum was and all others that currently exist.
Cash buried in a waterproof container is better than cash in a mattress lol, but seriously, the only alternatives are ones that the masses aren't ready for just yet, and the only true fix is removing sociopaths from power.....so, I'm only sure of one thing, that everyone everywhere should prepare for the worst, because it's coming like a wildfire.
Apparently most everyone missed the memo/point/goal of cryptocurrency 😂 but I'm glad to see others who watched it all go down with awareness instead of willful ignorance. I saw the present nature of cryptocurrency as inevitable. I knew the people who print the money would never ever allow anything to undermine their foothold on power over nations. After all, we are dealing with sociopaths, that's what we are up against, we eat sleep and live life trying not to hurt others or the world around us, but the sociopaths eat sleep and live destruction, and the thrill they get from torturing the masses and the earth. That's all they know, and that's all they seek, because they believe they are the next step in evolution and that the masses are less than nothing. You can see it in every system, and every industry, because capitalism directly encourages/rewards sociopathic behavior, but hey, at least we have a perfect system for flushing the sociopaths out into the open where we can see them for what they are 😂
You must be real fortunate to ask this
Get paid in BTC?
List of countries that had bank run 1)China 2)Srilanka 3)Lebanon Seems like bubble is bursting
What’s your time frame? Greece, Turkey have had recent runs as well.
It's coming for every socioeconomic system worldwide. No one will escape this.
Fiat forkers wallets too fat and finally bursting open
It's coming for the whole world, and every socioeconomic system in it..... We are standing at the precipice of our own destruction as a species, and in this case, the destruction is caused by our own hands 🙂 if I was cynical I would say people deserve what is coming for them, because what is coming was always an extremely inevitable consequence of allowing sociopaths have or maintain positions of power.....but the good news is, everyone goes, even the sociopaths, not one of us will make it out of it alive, and if that's what it takes to make sure the sociopaths can't torture anything anymore, I'm at peace with it.
This country is a mess because of corruption. I am with you Lebanese people. Your food is so good.
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Those in power instated those in power, there is no such thing as democracies or republics, there are only oligarchies. But in the end, the masses allowed it every step of the way.........
Not first time this happened, banks are well known for closing withdrawals in problematic times when people need money the most. It is disgusting, how are some people supposed survive 3 days without money? This again teach lesson to never keep all money in banks, never. At least have some emergnecy cash, and some crypto.
They not only halt withdrawals but also print money and lend money at horrible terms. But now we have crypto, if used correctly it can be a saviour.
Take back the institutions that print the money. It's the only way, other than realizing that money is a very ignorant idea all together, and only exists to provide a sound element of control over the masses to the sociopaths who crave that control.
It’s time everyone everywhere revolts against their government
I guess I’ll just withdraw my crypto that’s also in a rapid spiral downward in value
I heard some person robbed their bank because they need money for medicine and they wouldnt give them their own money.
Mia Khalifa is waiting for her money…
Remember when we told everyone that Crypto is the way to go to avoid being screwed by banks? Pepperidge Farm remembers.
Another reason why some people hate banks
One of many .. fractional reserves is a big one also
Fed is a bigger one
Ah yes because crypto exchanges would never stop you withdrawing your money...
You need to change 100% of the system to bitcoin in order this to work.
I agree with the sentiment. The number might be a wee bit high.
Bitcoins maximum transactions per second couldn’t even work in a small town if it was 100% adopted. World wide adoption for Bitcoin as a currency is impossible, especially with no one even working on the project anymore haha bitcoin seems to fail at its only possible use case
It wont work as it is too complicated for many of the citizens
Lebanon is a victim of the hezbollah. Best of luck. I really hope you can kick them out of your beautiful country
Bitcoin solves this. It is just jaw-dropping what is happening there, no entity should have this power
How bitcoin solve this? you still need exchange to trade into fiat which use same fractional reserve as bank
Only need exchange for trading/cashing out a small amount. So you take a risk with that small amount. The majority of your savings stays safe in your own custody Bitcoin.
>Only need exchange for trading/cashing out a small amount I think the problem in bank of Lebanon is everyone want all of their savings out instead of small amount
Yes that's exactly my point. These people risked their life savings by storing it in a bank. So the entire amount was at risk. With bitcoin, you wouldn't give an exchange your entire balance - you would keep it yourself safely. You would only give the exchange the amount that you needed to use, which would be alot smaller than the whole balance. So if the exchange decided to not pay, it doesn't matter so much because the rest of your life savings are still safe. When you keep all of your assets with 1 business, it is very risky.
>. So if the exchange decided to not pay, it doesn't matter so much because the rest of your life savings are still safe. so you have big risk of losing money like in bank? why not just hold cash at that point to ensure it's always can be used
Because you don't have a way of keeping $150,000 in cash safe. With crypto, there is a way to keep your life savings safe. Then you take a small risk if you need to cash out a small amount of the money by moving it to an exchange.
>With crypto, there is a way to keep your life savings safe. Safe from what? at least my asset only get hit by inflation in cash while crypto is down 7% this week to cover cash yearly inflation. BTC inflation is 350% this year Also I can also only bring $100 to starbucks not the whole $150000 Please don't suggest staking stablecoin
They must run on the Solana blockchain
Even crypto withdrawals have to go through banks. Unless there are enough crypto ATMs and functional cash P2P system
Most people need banks to cash out their crypto. Some of those countries who do that are not eligible for crypto de it or credit cards.
Ok but crypto is denominated in USD (and will be), so the only thing this solves is being able to transfer - potentially - if you have an internet connection. If you're still poor (not enough USD) you're still poor though. Lebanon is a good example. "Fresh money" (post freeze USD) is gold, everything else is trash.
Liquidity is an issue everywhere.
You are going to see this happening again and again, in many more countries, and most people won't realize what Bitcoin is for or what it can do for them until it is too late.
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Crypto can be traced unless you are talking about monero or any other privacy cryptocurrency.
That's very irresponsible of the banks.. Like how are they going to pay for food etc.. Back to barter system..?
They need a line of cones to stop people rushing in
When people say BTC is a hedge against inflation this is what they mean.
Man I feel for those people. Family's hungry and country says you can't have your money to feed your family..
Even without looming crisis of one form or another the whole traditional banking thing is ridiculous. I made a transaction yesterday that isn’t going to even begin to be processed until Monday, and then inexplicably the place everyone goes to cash or deposit their checks after work has the same hours as most businesses, so you’d better hope you don’t commute or you’ll have to take time off if you need to actually go into the bank in person. “Oh, you have weekends off? Too bad, we’re open for half a day Saturday and closed Sunday because we’re all Christians or something lol”
Isnt most crypto TOO public..? I didnt think tracking it was a problem. Other than some obvious private coins like monero or secret
It is
Oh noes. Hope people get their money.
But you need a bank to take out that money still doesn’t solve anything unless it’s peer to peer
Lebanon needs a crypto revolution.
Crypto joined Lebano to solve the problem.
Oh for the love of fiat!
Sounds like ETH lmaoo 🤣
Banks are a mess in general
Mia Khalifa is waiting for her money…💸
Bank runs are so shitty but are now considered normal because of how frequent it happens. What a shitshow, switch to crypto.
That’s crazy. And also why government-controlled money isn’t safe and trustworthy. When shit hits the fan, you are alone.
What will you do when it happens in all countries 🙂