Coinbase and my issue with centralized services (banks)

[bitart]

Can't think of a situation when I had problems with my bank, maybe just had lock so far. Also no problems with deposits and withdrawals from crypto exchange to my bank account. But I recently had huge headache because of PayPal. Their rules are set in a way that they can do whatever they want. They can hold your money for 180 days without a reason, they can even lock your account with no explanation and no option to appeal against it.
PayPal is centralized of course so kind of understand you and how helpless you feel when they simply announce some stupid new rule.

This centralized payment system is the key for the governments, if they can't regulate/rule something, they can easily ban it. Why? Because of the above mentioned things, governments are on thin ice when it's about their economy, because most of the economies are heavily sunk in debt... So they can only run their country if they have full control over the country's fiat and payment systems. The same applies for PayPal, but PayPal serves more lords at once, they have to help most of the governments to control the international payments...
Bitcoin is a solution for this situation, so it's a problem for the governments, because they didn't want the people to have a solution for the quick and cheap money transfer problem (because international payments are neither quick or cheap...)

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[alextechlead]

Bitcoin is a thing but both systems are needed if they want to survive.
Cryptos need fiat and fiat needs crypto. It is something that many people haven't still understood. Banks need cryptocurrencies as there is a new dynamic in this market and so many funds in there, and crypto needs fiat as they need a currency to leverage. So I don't think that Coinbase and Barclays thing is something that need to get our attention.

Thanks for your response, i see now they both have a reason to be here. Crypto needs Fiat and vice versa!



Alex Ginsburg, TechLead
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[alextechlead]

Centralization will kill the basic idea of crypto, but not many people understand it

Not really , my argument is that crypto will infact kill the idea of Centralization and I believe this to be the case. Although other users have pointed out they both have their place in the financial industries of the present and near future.


Alex Ginsburg, TechLead
100% Certified Financial Loss Recovery Service, we will recover what you lost regardless of how it happened.

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[barbara44]

Traditional banks always feel like they are God of men because they are sitting on the money of people in the world forgetting that they are nothing without those deposited cash in their bank by people, so the people they are frustrating are the ones that made them by keeping their money with them, and I think that it is high time people take control of their money from those centralized banks.

This is the same way I think they have frustrated binance also that made binance want to separate the us account from their platform and create a system for them separately. Anything generally with us is always a headache and that is why they are losing power and their dollar value which is no longer getting much relevance from people worldwide.

[serjent05]

Traditional banks always feel like they are God of men because they are sitting on the money of people in the world forgetting that they are nothing without those deposited cash in their bank by people, so the people they are frustrating are the ones that made them by keeping their money with them, and I think that it is high time people take control of their money from those centralized banks.

Bank clients cannot do anything about this.  As a client we agreed to their terms and condition, it not that they forced us to sign that agreement.  They had brainwashed peoples mind that saving in them is a most secure way for our money.  And once they had our money, we have to follow their rule. 

And Centralized service will never have a good grasp with the decentralized things unless a proper regulatory procedure is applied.  This is probably the reason why Coinbase and Barkclay Bank separate its way. 

This is the same way I think they have frustrated binance also that made binance want to separate the us account from their platform and create a system for them separately. Anything generally with us is always a headache and that is why they are losing power and their dollar value which is no longer getting much relevance from people worldwide.

I think Binance case is different.  They wanted to look clean from the SEC guidelines regarding token listing and at the same time don't want to lose the client from the US.  That is why they have implemented a different platform for the US citizen.