Nice job Justin!

[Mometaskers]

I just can't help but mention this since we've already had a lot of discussion about the Canadian government freezing the Freedom Convoy protesters' bank accounts.

https://tokenist.com/big-banks-in-canada-face-outage-day-after-emergency-declared/

Headline:

A number of major Canadian banks were hit by an hours-long outage on Wednesday. The outage happened one day after the Canadian Government invoked the Emergencies Act, giving officials the authority to freeze bank accounts of suspects, seize protesters’ trucks, and suspend their vehicle insurance.

Congratulations Justin. You just singlehandedly destroyed the trust of Canadians on the banking system. We are possibly seeing the start of a bankrun. Even assuming most of the outages are with mobile banking than ATMs, it showed that people are getting anxious and could start pulling funds in the coming days.

Worst thing that could happen after is that they'd lock people out of their money by limiting withdrawals, like what happened when Greece when bankrupt. Except here there's no severe economic reason for people to take out all of their money - it's simply a response to the government's authoritarian actions.

[Silberman]

I just can't help but mention this since we've already had a lot of discussion about the Canadian government freezing the Freedom Convoy protesters' bank accounts.

https://tokenist.com/big-banks-in-canada-face-outage-day-after-emergency-declared/

Headline:

A number of major Canadian banks were hit by an hours-long outage on Wednesday. The outage happened one day after the Canadian Government invoked the Emergencies Act, giving officials the authority to freeze bank accounts of suspects, seize protesters’ trucks, and suspend their vehicle insurance.

Congratulations Justin. You just singlehandedly destroyed the trust of Canadians on the banking system. We are possibly seeing the start of a bankrun. Even assuming most of the outages are with mobile banking than ATMs, it showed that people are getting anxious and could start pulling funds in the coming days.

Worst thing that could happen after is that they'd lock people out of their money by limiting withdrawals, like what happened when Greece when bankrupt. Except here there's no severe economic reason for people to take out all of their money - it's simply a response to the government's authoritarian actions.

This is why bitcoin is important, while the volatility and the financial profits that people can gain with bitcoin are one of the main reasons why people are here, the decentralized nature of bitcoin is what makes all of this possible, governments are feeling the pressure, after serving themselves and neglecting the well-being of their population for too long they thought that they could keep abusing their citizens, but now people are finally reacting to this, and governments are dealing with this as they always had, by suppressing the rights of their citizens, but if people adopt bitcoin massively then the government will be left without the option of taking away your savings with just a few clicks as they can do now, so if we want a future in which we do not have to talk, think and act as the governments want then we need bitcoin to succeed.

[Gozie51]

With this that has happened in Canada, I'm expecting two things to happen at the long run when the whole drama is settled, one of that is that there will be litigation against the Canadian government by the protestants for freezing their accounts and the second possible thing to happen is increase in btc hodlers in Canada.

[The Sceptical Chymist]

A number of major Canadian banks were hit by an hours-long outage on Wednesday. The outage happened one day after the Canadian Government invoked the Emergencies Act, giving officials the authority to freeze bank accounts of suspects, seize protesters’ trucks, and suspend their vehicle insurance.

Yeah, that's a bunch of bullshit if you ask me.  I really dislike all of these "emergency powers" that the government can just bestow upon themselves basically whenever they think it's necessary.  And yes I realize that they're not a new thing at all, but when you look at a situation like this with a bunch of protesters you start to see how politicians being able to level up straight to God Mode is not a good thing.

I wouldn't have thought Canada would stoop to the Draconian measures the US and some other countries have imposed on their citizenry, but I guess we're really living in a different time, eh?

Not sure what the status is of the protest and the truckers, but I'm rooting for them all the way.

[Gyfts]

People already knew your bank accounts could be frozen at any time. Canadians voted for this clown, they don't mind some radical far lefty casually using his personal politics to target the online banking of law abiding citizens. We don't even know if the funds that were donated were used for illegal activity, but that wouldn't matter either. If you receive money from someone but have it in an account for the purposes of something the government doesn't like, legality aside, they can decide whether or not to confiscate.

Trudeau just wants to enforce his tyranny on anyone that might disagree with him (or anyone with a functioning brain, essentially).

[kryptqnick]

I wish people saw cryptos as an alternative to banks not only when something like measures against the anti-vaccination movement take place... Also, while I don't normally like emergency power the state gives to itself, the protests aren't expressing the will of the majority at all (with 80% Canadians being vaccinated), and the protests blocked trade routes, causing losses of lots of money, including 145 million in wages. So it's not like Justin's taking measures without any reasons to do so.

[Upgrade00]

I wish people saw cryptos as an alternative to banks not only when something like measures against the anti-vaccination movement take place...

Seeing crypto as an alternative is one thing, but using it as a decentralized network is another.

A lot of people who are into crypto do not necessarily care about their privacy, anonymity, or freedom, they simply use it cause it's shiny digital money that can grow in value. This usually means that they go for the easiest way to store it, in a centralized exchange (custodian wallet), so if they ever lost their account, they could restore it, cause the platform offers a Fail-Safe. This still makes then vulnerable to government regulations as their crypto related accounts can also be identified and frozen as easily as their bank accounts can be.

[CaVO32]

I wish people saw cryptos as an alternative to banks not only when something like measures against the anti-vaccination movement take place...

Seeing crypto as an alternative is one thing, but using it as a decentralized network is another.

A lot of people who are into crypto do not necessarily care about their privacy, anonymity, or freedom, they simply use it cause it's shiny digital money that can grow in value. This usually means that they go for the easiest way to store it, in a centralized exchange (custodian wallet), so if they ever lost their account, they could restore it, cause the platform offers a Fail-Safe. This still makes then vulnerable to government regulations as their crypto related accounts can also be identified and frozen as easily as their bank accounts can be.

Surely, the people affected by Justin's move will look for alternative ways how to secure their money. But it is not only crypto that will serve as good alternative, because there are other options how to secure your funds. A lot of people don't have the right knowledge to go into crypto, the reason why some of them would be hesitant to touch crypto. However, with the knowledge that some of the donations is in the form of btc, people will get interested on learning this crypto.

[Hydrogen]

Congratulations Justin. You just singlehandedly destroyed the trust of Canadians on the banking system. We are possibly seeing the start of a bankrun.

I would be interested to know how many canadians are aware of this happening. There are many who go through their daily routine without knowing things like this are current events. Any news involving trucker protestors they immediately ignore and avoid.

The sad truth is, there have been many events over the past 10 years which could have destroyed trust in the global banking industry or caused a bank run.

• The euro amount of insurance on european bank accounts has been reduced over time
• Banks around the world limited and reduced cash withdrawals
• India destroyed a big proportion of cash in circulation, which could negatively impacted trust in banks and the financial system
• Etc

People tend to be oblivious until something happens that directly affects them.

If its only an announcement made in the news cycle, they might never notice.

[paxmao]

I would not say that JT has destroyed anything. There is a limit to the protest in terms of the effects that causes and how it may affect many people that do not really want any involvement. While it may look like protesters are super-cool and they are teaching a lesson to those crooked officials and the like, they are actually causing an economic problem for many that is not being given the right attention by the media.

[stompix]

We are possibly seeing the start of a bankrun. Even assuming most of the outages are with mobile banking than ATMs, it showed that people are getting anxious and could start pulling funds in the coming days.

Yeah, nice scenario but ..no!  
The worst way to make the system of all banks collapse would be to go to a damn slow ATM machine, lose time while inserting the card, insert pin, select operation have to atm dispense your cash and your card, all for one operation.
Even if we assume somehow all of Canada ATM's would have been online, would have had cash and every single one of them would be constantly used you don't bring a bank system down with 10k transactions per minute, even if those ATMs would have been constantly used for 8 hours at a rhythm of 1 per minute they wouldn't reach the number of transactions banks do on Black Friday or Christmas.

Far easier to crash the system by sending 1 dollar to all your relatives a couple of times which takes seconds on predefined payments in an app and having them send it back and multiple that by 100 000 users rather than a march of half of the population to ATMs.

Outages don't happen because poeple rush to the ATMs, poeple rush to the ATMs because outages and panic.  

Would be interested to know how many canadians are aware of this happening. There are many who go through their daily routine without knowing things like this are current events. Any news involving trucker protestors they immediately ignore and avoid.

Well, for sure it would have to be a majority cause you can't create a bank run and a crash of the whole banking sector with 1% of the population.

These aside, I think we're past the point where a solution can be found that would make everyone happy, the longer this goes on the more some on each side will become angrier at the opposing one, I'm definitely surprised that of all places in the western world Canada is the place where this happens.

[Vatimins]

     Man, just look at what they have done. This will certainly cause huge panic and make things chaotic within Canada. I mean if you were a citizen of that country what would you do having witnessed such news? Specially when you are aware of the crypto industry? Gosh. The real worse case would be also banning any form of crypto currency in Canada just to control the masses. This is just outrageous. Why take such measures just because of protesters? Are you a child?

[Mometaskers]

Yeah, that's a bunch of bullshit if you ask me.  I really dislike all of these "emergency powers" that the government can just bestow upon themselves basically whenever they think it's necessary.  And yes I realize that they're not a new thing at all, but when you look at a situation like this with a bunch of protesters you start to see how politicians being able to level up straight to God Mode is not a good thing.

What did the saying said about giving an inch? The koof has given governments everywhere the perfect excuse to give themselves more power in the name of "public safety". Good luck having them let go of that. If anything, they're going to take more. If Canadians fail to protect themselves against their government, it's going to set a precedent for the rest of the developed world.

[batang_bitcoin]

     Man, just look at what they have done. This will certainly cause huge panic and make things chaotic within Canada. I mean if you were a citizen of that country what would you do having witnessed such news? Specially when you are aware of the crypto industry? Gosh. The real worse case would be also banning any form of crypto currency in Canada just to control the masses. This is just outrageous. Why take such measures just because of protesters? Are you a child?

They might come up with that next but how can they do that? I think they'll limit most exchanges to ban Canadian citizen transacting with any of them.
He's coming up to the point that he's showing the real nature of centralization especially with the banks. People are not in power to hold their money and the banks together with the government has the power over the citizen's money which is really worrisome if being used like this.

[Fivestar4everMVP]

     Man, just look at what they have done. This will certainly cause huge panic and make things chaotic within Canada. I mean if you were a citizen of that country what would you do having witnessed such news? Specially when you are aware of the crypto industry? Gosh. The real worse case would be also banning any form of crypto currency in Canada just to control the masses. This is just outrageous. Why take such measures just because of protesters? Are you a child?

Really outrageous, though am not a citizen of Canada but I sure feel the pain and anger in me, it's really disheartening and disturbing when government that are supposed to care and protect the people are the ones causing or trying to cause havoc in the lives of the same people they were supposed to protect.
It's absolutely wrong to lock people out of their own money, money they've worked really hard for, and the most annoying part is that this same people are the ones who voted this government into office, and when the same government fail to perform, and the people protest, the government raise against the people, just like what we've witnessed in Canada.
Each and everyday that breaks, we have more reasons why bitcoin and cryptocurrencies in general are very important for our society today, we have given this politicians too much power and now, we have to take that power back through crypto.

[Lucius]

I wouldn't have thought Canada would stoop to the Draconian measures the US and some other countries have imposed on their citizenry, but I guess we're really living in a different time, eh?

I will not go into which political group the Canadian president belongs to, but what I read in the media for days is that the US is putting a lot of pressure on him to end the protests in any way, and that probably means using the military if there is no other way.

The Canadian government is coming under increasing pressure from the United States to resolve anti-vaccine mandate protests that are impacting the economy in both countries with border blockades, including a 5-day shutdown of the vital Ambassador Bridge

In any case, I support the protests of people who primarily fight for their own and their children's health by refusing to be experimental rats for Pfizer, Moderna, and the like who put over $90 million a day in their pockets saving people from a disease that is nowhere near as dangerous as represent it. The example of my country says the following, in 2021 over 15 000 people died of cancer - in 2 years of a pandemic 14 000+ people died of covid - but only because that number included those who had covid, but it was not the primary cause of death.

We really live in a time when communism is back on the small doorstep, and I know what it looks like because I've felt it on my skin before - so all credit to the people who rose up against political and mega-corporate terror.

[fiulpro]

Okay the thing is they didn't just lock out people's money, at the same time they proceeded to do e everything they can like suspending expensive insurance for all the truckers during pandemic where people are already struggling to make the ends meet. I think it's going to be a major concern since with the quarantine people will find it hard to actually find new jobs and to pay for their insurance again. This was uncalled for and at the same time it's very important to understand the fact that if someone does not want to be double vaccinated, it's their choice, you cannot hate them for anything like that. You cannot freeze their bank accounts and at the same time take their insurances away, the one thing a government is here to do is to protect the people and their liberty, what this government is doing is baffling.

[hatshepsut93]

Using banks is way too convenient for people to abandon them. It's like boycotting cars or the Internet or smartphones at this point. And there's really no alternative to them now, not even our beloved crypto, because of fees, transaction times, price volatility, lack of merchant support, weakness to malware and so on. So I can totally see how people who boycott the banks today will return to them in a few weeks once this all blows over.

[coolcoinz]

I will not go into which political group the Canadian president belongs to, but what I read in the media for days is that the US is putting a lot of pressure on him to end the protests in any way, and that probably means using the military if there is no other way.

If he uses the military it's going to be a bloodbath because such actions never end with a few bruises. Somebody is going to get shot, they will poke somebody's eye out with a rubber bullet, break some skulls and cripple people and that's going to escalate things even more. This still is a peaceful protest, but if politicians decide to choose violence they will learn that protesters can be violent too and guess what, the people don't depend on the government, they can live without it, but the government can't exist without people who support it.

[bitmover]

Seeing crypto as an alternative is one thing, but using it as a decentralized network is another.

A lot of people who are into crypto do not necessarily care about their privacy, anonymity, or freedom, they simply use it cause it's shiny digital money that can grow in value. This usually means that they go for the easiest way to store it, in a centralized exchange (custodian wallet), so if they ever lost their account, they could restore it, cause the platform offers a Fail-Safe. This still makes then vulnerable to government regulations as their crypto related accounts can also be identified and frozen as easily as their bank accounts can be.

Exactly. Funds on exchanges are not really yours, and government can take those funds as well!

Take a look at Kraken co-founder said on twitter just yesterday. Kraken (or any other exchange) will freeze your account if government asks it to do so.

https://twitter.com/jespow/status/1494462097161220104


They can move money through cryptowallets and p2p, just avoid regulated exchanges.