Happy said:
@MintMingle3
where you gonna put it
Where it is right now.
good luck with that
@MintMingle3
Banks aren’t perfect, but implying they are more “shady” than exchanges, or most crypto projects in general, is off base. Also, most wealth, purchases, and debt helt via banks and credit card companies is insured.
@Holland
Banks all over the world are complicit in funding war, for-profit debt, monopolizing essential service markets, megacorp amalgamation, organized crime, and even Trump’s Ponzi schemes. That’s not shady? They don’t have the 99%ers best interest in mind or even that of humanity in general. Capitalism can not grow forever when the consumer they rely on is stretched so thin. The erosion of the middle class has been ongoing for 25 years. And that’s to say nothing about the state of the environment, etc. Tearing it all down starts with the banks and their debt for profit model. It’s unsustainable, it’s evil, and adds no value to our society. I’d rather barter services and fund social charity. I mean we’re already doing it with gofundme lol.
Edit: Insured debt is generally capped at $100k.
@MintMingle3
My main concern is the health and happiness of my family, and banks provide services that afford the middle class, like myself, an opportunity to own homes, property and have a comfortable life. I own a considerable amount of crypto as an investment, not to change the world. Crypto is not gonna fix anything because the same players are in the game, and they have all the wealth. Just live your life and get your piece through hard work, not moon shots. There were wars, organized crimes, etc long before the concept of fractional banking
@Holland
That’s a pretty selfish statement. Banks are only a portion of the capitalistic society problem (but facilitate it) which will lead to the eventual downfall of that system (you can’t sustain 10% returns forever), and causally, the world. Leave your children a better world, a livable planet, not a house in the burbs. Traditional investing is dead, and will be put to rest with the boomers. Yes, old money is trying to assimilate the crypto market. Not for the tech, not for a store of value, not for fair and equitable transparent “banking” but because it’s a threat to them.
@MintMingle3
It’s not selfish to be realistic and look after your family. It’s the opposite. I am willing to bet i do more for society than you ever will. Maybe i am just not has virtuous as you are.
I also don’t live in the “burbs”, but own a small homestead where I grow most of my vegetables, have chickens, and have zero food waste. You need to stay out of echo chambers and start living in reality. "Traditional investing is dead " implies people will no longer need comodities and will forget the advancements of the industrial revolution, which is simply stupid.
@Holland
I’ll be sure to let the millions of starving children being bombed to smithereens in for-profit and for-commodity invasions that you’re growing your own chickens and believe in big banking and think having wifi and bidets thanks to the Industrial Revolution is worth their suffering while billionaires play war games from their mega yachts and trade Monopoly money on Wall Street. Greatest country in the world. Land of the free. Get a grip, even if it’s from your bubble.
@MintMingle3
You certainly can’t feed kids with low IQ reddit posts. Also, i am not a American. Lol. The rest of your post is too foolish to even respond to. Now. Go sell your little bag of crypto to help those poor, helpless children.
@Holland
This comment is empty, admin should fix
Because they can’t control it
Honestly it’s AML compliance issues and the fact it’s unregulated while they’re strictly regulated. Opens them up to audit issues with OFSI, fines, etc.
MissNicklaus said:
Honestly it’s AML compliance issues and the fact it’s unregulated while they’re strictly regulated. Opens them up to audit issues with OFSI, fines, etc.
Finally a sensible post.
People need to remove the tin foil hat and be realistic in what’s crypto’s main use in the world and why that is… lack of regulation, aka the thing that prevents (or mitigates) criminal activity which includes lots of horrible things today crypto benefits of
I’m all in for the crypto alternative, but let’s not act like a cult
AML regulations mostly
So Yesterday I was having a fight with our company bank (CIBC). We deposited a $25,000 USD cheque April 10 into our USD account. We tried to move the proceeds to our CDN account (same bank) through a foreign exchange broker so that we could purchase more product. Turns out that the US cheque hasn’t cleared yet and isn’t scheduled to clear until May 23rd. How the fuck do they think this is acceptable in 2024?
@Laine
But I your case, I would tell the banks that you have a Shakepay Visa card and you need to pay the balance. Or just use Wealthsimple to buy bitcoin. They definitely cannot prevent wire transfers to Wealthsimple
@Laine
So you can use bank to pay bill and top up Shakepay visa?
@Laine
Pretty standard for banks to hold larger cheques and you are going into a long weekend. Not really that crazy. Cheque fraud is the most prevalent fraud in the industry.
Arielle said:
@Laine
Pretty standard for banks to hold larger cheques and you are going into a long weekend. Not really that crazy. Cheque fraud is the most prevalent fraud in the industry.
May 23 will be a 6 week hold tho
@Laine
My whole point in posting this in this sub is, 1 day,1 week, 3 weeks, 6week holds is solved by bitcoin
@Laine
From April 10?