...and they closed my bank account...

[bitbollo]

Long Story short   that I would to share with all bitcoiners.
A bank, through his director, has closed my bank account where I receive salary/pension etc. without notice or just "I can do it".
Here I think there is the clear evidence of what bitcoin is. And even if I am using since many years, I am still surprised to see what a BIG innovation we have here.

Banks, as you can see, decide to close an account "at their own discretion".
They can size my money if requested by third part.
They can limit the way I am spending or just I am receiving it.
They are even not allowing money "moving faster" but taking days and days for settling payments.
Technically they can do whatever they want because in any case "interact" with these BIG companies is expensive, really difficulty and requires a LOT of time.
So they know that just few people will do it...

On the other hand, you have btc.
That is just pure freedom, that you can bring everywhere in the form of pure text and mathematics.
Even if this is a "selfish" it gives you freedom to accomplish whatever you want without other external helps.

Of course, the banking services somehow will always be necessary (let alone, still today it is full of people who repair wagons wheels, or builds saddles to go on horseback).
But NOW you have an OPTION that before there wasn't. Now there is pure form of "value" that could transact without any permission, borderless, and crazy fast!

This is the real value! Don't use the "monetary", or "gold" standard but the real freedom for "pricing bitcoin".

Imagine in a world with just BANKS and not other options. You will have just to shut up and being forced to act as a coward.
Free suggestion... don't look the price, buy AT ANY PRICE YOU CAN BUY.

[bullbandit9]

Sorry to hear that. This happens to many more people that most realize.

Banks, as you can see, decide to close an account "at their own discretion".

This is a remnant of the old system and corrupt laws. Banking is no longer optional but is required to be able to live a normal life. Because of this banking must be treated as a utility and these things should no longer be possible.

On the other hand, you have btc.
That is just pure freedom, that you can bring everywhere in the form of pure text and mathematics.

Many altcoin people will learn their lesson only after being burned. Using almost any token is very risky as the issuer has even better powers than a bank. Only with Bitcoin is this truly different. 

[Charles-Tim]

What I experienced recently is a failed transaction. It also happened to me last year. This one of recent happened 4 days ago but it took the bank 3 days before they resolved it. I had to report the error again yesterday before it was processed after many hours. If it is bitcoin transaction, it has not failed me before.

[Cointxz]

I experienced this kind of inconvenience with banks when they freeze my bank account containing my whole savings for more than a year just because someone I transacted via P2P have a money from a hack bank account.

I provided all the proof of my P2P transaction yet it still took them more than a year just to conclude that I’m legally acquired my money through P2P of crypto.

Banks is inconvenient especially if you have storing most of your savings. They are hard to communicate once you encounter problem with them.

[john_egbert]

Bitcoin makes you the bank that you yourself control.

I am sorry to hear about your problems with your account, however, all your other points are totally valid.

[lovesmayfamilis]

Banks feel like they own our money. I recently read about a news story that in my country, banks have the right to close accounts if they see frequent card-to-card transactions. They think I should be careful and not transfer my money to anyone else, and if they don't like something, they block the cards. Why the hell are they managing my money? I was also outraged, and OP, you are right, we should have the right to our freedom. On the other hand, the eternal control of banks naturally rebels against Bitcoin, because with proper handling, our funds can pass without their knowledge.

[nemesis_incarnate]

What I experienced recently is a failed transaction. It also happened to me last year. This one of recent happened 4 days ago but it took the bank 3 days before they resolved it. I had to report the error again yesterday before it was processed after many hours. If it is bitcoin transaction, it has not failed me before.

Because you don't need to go and cry for help for such entities, usually, if you make mistakes, that's the only reason the transaction may not be done properly, but those with knowledge don't have such problems almost all the time.

[MrDipBuyer]

That is awful and should be illegal! Banks do own our money as long as we store it with them and as long as they continue to be threatened by crypto, they will do everything they can to maintain control. I am truly sorry. We live in a disgust era of greed and power.

[NotFuzzyWarm]

Gods forbid folks say WHAT bank or ccard company they have had these problems with. Then at least people can have an idea of which ones to avoid.

Personally I have had zero issues since I started in 2014. I know that here in the USA, early on Wells Fargo for a time did not like crypto users but they came around to our side several years ago.

[Marykeller]

Bank cannot be trusted, they can disappoint at anytime. Since I learn of that, I don't like saving a huge sum money with them because of their unpleasant nature of having full control of people's money, to do with it as they like without giving someone returns, instead their money losses value because of inflation. For Bitcoin, that is not the case, there are profits to make in the future and there is nothing like unnecessary debit like the bank does. You have full control of your Bitcoin without fear of losing it to any body or organization.

[Dunamisx]

Banks, as you can see, decide to close an account "at their own discretion".
They can size my money if requested by third part.
They can limit the way I am spending or just I am receiving it.
They are even not allowing money "moving faster" but taking days and days for settling payments.
Technically they can do whatever they want because in any case "interact" with these BIG companies is expensive, really difficulty and requires a LOT of time.

Very soon now, i believe we are transcending form traditional fiat to digital era with bitcoin in cryptocurrency, these leaders wanted to also have a superior edge over what belongs to us, so that they can control us and limit us to being under their authority, except we realized this, we may be forever under slavery except we decide to take what belongs to us and be in charge, not your keys not your coins, freedom is never given, it is taken, and we have taken this already and no going back.

Of course, the banking services somehow will always be necessary (let alone, still today it is full of people who repair wagons wheels, or builds saddles to go on horseback).
But NOW you have an OPTION that before there wasn't. Now there is pure form of "value" that could transact without any permission, borderless, and crazy fast!

A time is coming, all we may be left with is to avoid using fiat completely because we wanted to be in charge, if fiat currency like USD can be a mainstream currency, then with time, bitcoin is becoming one as well.

[betswift]

That is awful and should be illegal! Banks do own our money as long as we store it with them and as long as they continue to be threatened by crypto, they will do everything they can to maintain control. I am truly sorry. We live in a disgust era of greed and power.

It's not illegal for as long as you agree to use their services in the first place, it's called "breach of terms"

[The Sceptical Chymist]

Remember a few (probably like eight) years ago when Circle allowed people to buy/sell bitcoin with their app, and it was so easy to just buy $5 if you wanted to?  Well, I was doing just that and wound up making a bunch of very small purchases that caused my bank manager to approach me and ask about it when I visited my local branch.  

No, they didn't close my account or take any action whatsoever but you better believe banks are watching and are concerned when their customers use their banking services for anything related to crypto.  I imagine the situation's only gotten worse, but I haven't read any horror stories in a while.

Coinbase on the other hand, which isn't a bank, will close down your account in the blink of an eye and basically tell you to get fucked by way of their subsequent lack of explanation and silent treatment.  They're worse than any bank I know in that respect.

[Don Pedro Dinero]

Leaving aside the lesson this teaches us all about bitcoin, managing it yourself through your private keys rather than through centralized entities, I wanted to comment on this specific point:

A bank, through his director, has closed my bank account where I receive salary/pension etc. without notice or just "I can do it".

Check the specific laws in your country because in both Spain and the UK they have to give you at least two months' notice, and I very much doubt that if you live in a developed country they don't have that obligation.

[Apocollapse]

More and more I see the regulation keep getting tighter, holding money in banks doesn't feel safe now for Average Joe. People won't able to escape from using banks, but at least they can minimize the risk of losing their wealth, don't leave most of our wealth in banks, treat banks the same way with centralized exchange.

The true wealth is when we have full control over the assets, Bitcoin in non custodial wallet and physical gold are the example.

[MrDipBuyer]

That is awful and should be illegal! Banks do own our money as long as we store it with them and as long as they continue to be threatened by crypto, they will do everything they can to maintain control. I am truly sorry. We live in a disgust era of greed and power.

It's not illegal for as long as you agree to use their services in the first place, it's called "breach of terms"

I am aware. Which is why I said it "should be illegal". Syntax is important.

[SilverCryptoBullet]

A bank, through his director, has closed my bank account where I receive salary/pension etc. without notice or just "I can do it".
Here I think there is the clear evidence of what bitcoin is. And even if I am using since many years, I am still surprised to see what a BIG innovation we have here.

Your story is not strange with banks and any centralized platform. There is only bank that is decentralized, no censorship and no termination of account, fund seizure by any reason, even arbitrary and non sense cause. It's Bitcoin bank.

Reminder: do not keep your money in online accounts.

Banks, as you can see, decide to close an account "at their own discretion".
They can size my money if requested by third part.
They can limit the way I am spending or just I am receiving it.
They are even not allowing money "moving faster" but taking days and days for settling payments.
Technically they can do whatever they want because in any case "interact" with these BIG companies is expensive, really difficulty and requires a LOT of time.
So they know that just few people will do it...

You can avoid all those messy troubles with Bitcoin bank that is easy to have. Conditions are easy like: Using non custodial and open source wallet; creating your wallet offline; backing up your wallet; making sure you test wallet backup for wallet recovery; and store your wallets as well as wallet backups safely.

Nobody can seize your bitcoins in your non custodial wallet if they, like government, don't arrest you and use something related to law in order to seize your bitcoin. They can not sit down in front of a computer, and seize your bitcoin with any order or code like with banks or altcoins, stablecoins.

[BABY SHOES]

I really hate banks... Recently, my country's government has imposed a rule that any bank that has not conducted any activity for 3 months will have its accounts blocked... whether there is money in the account or not, the government has the right to do this... This is ridiculous news.

So far, hundreds of thousands of bank accounts have been frozen by the government, including large sums of money; this is truly insane. 

And now, we’ve decided we’ll never keep money in a bank because it’s too risky. Our solution is to keep our assets in BTC because we have control over our own assets. 

The bottom line is, never keep your money in a bank.

[bitbollo]

What it sounds to me crazy is... that we have the same issue (or similar ones) in any part of the world! What a great invention bitcoin!
No much more to say, once you realize THIS VALUE, you will never care anymore of the monetary value.
Unitl now I had small issue (like limits on payment and so on) but to get BANNED by a service for an ARBITRARY reason. No. Never. Just crazy.

Just to replies to some comments =
Yes they give me two months notice. But they don't provide an explanation, and however they had to produce it.
Well, any centralized service has a clear fault or point of failure. You can do whatever you want, they can just decide to not care and scam you.
I conduct a frugal life (more similar to a cave man) so I completely don't care about their shitty service.

Anyway, if you know bitcoin you can't stop to use. More you use it, more you understand how "pure" form of transfer value it is.

[The Sceptical Chymist]

The bottom line is, never keep your money in a bank.

It's all well and good to hate banks, but I'd say most people wouldn't be able to get by in their day-to-day life without having a checking account or some other banking account that they can use to, say, pay their rent and utilities, gas for the car, food, and everything else that you can't really use bitcoin for.  It irks me when I read advice like yours because I'm not sure if you even believe it yourself despite what you wrote in the rest of your post that I didn't quote.

The fact is that the vast majority of people do not live on crypto.  Not only that, but my guess is that most people don't have serious problems with their bank such that they'd need to resort to using cryptocurrency.  We're not there yet, and I'm not sure we ever will be.