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Author Topic: Bitcoin vs. the Banks  (Read 6713 times)
knight22
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July 05, 2012, 05:16:01 PM
 #21

Watch this and you'll understand why banks are bad MKay

http://vimeo.com/2244372
http://vimeo.com/6822294


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Trader Steve
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July 05, 2012, 05:53:01 PM
 #22

Matthew,

LOL! This is the best laugh I've had all day. Thanks for pointing out the hypocrisy of the bank trash-talkers who continue to patronize them. Folks, if you want monetary (read "personal") freedom stop using the banks. Wean yourself off of them. Exchange locally instead of using exchanges that are tied to the banking system.
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July 05, 2012, 05:55:46 PM
 #23


That's not a bank.
That's the shard.
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July 05, 2012, 05:57:24 PM
 #24

@Matthew.
In the second picture of you at the bank I noticed your nice Asian form as you hand him the magazine. Presenting it with both hands and a slight bow, proper. Your no Korea noob.  Cheesy

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

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Matthew N. Wright
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July 05, 2012, 07:24:02 PM
 #25

@Matthew.
In the second picture of you at the bank I noticed your nice Asian form as you hand him the magazine. Presenting it with both hands and a slight bow, proper. Your no Korea noob.  Cheesy

I lol'ed

Watch this and you'll understand why banks are bad MKay

http://vimeo.com/2244372
http://vimeo.com/6822294



If banks are bad, then BitInstant is bad. How do you feel about credit unions then? Trusts? Any kind of organization or group that handles money for another other group or organization?

knight22
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July 05, 2012, 08:09:22 PM
 #26

If banks are bad, then BitInstant is bad. How do you feel about credit unions then? Trusts? Any kind of organization or group that handles money for another other group or organization?

A system that allow private people to create money out of nowhere is nothing but good. It gives way too much power to some people working in shadow. It's the biggest error humankind has made in history. The only entity that should have the right to do so is a democratic government working with open book which is not the case actually. Trust is also a very dangerous system because it can hide any form of monopoly and also gives too much power to private entities.

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July 05, 2012, 08:12:03 PM
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If banks are bad, then BitInstant is bad. How do you feel about credit unions then? Trusts? Any kind of organization or group that handles money for another other group or organization?

A system that allow private people to create money out of nowhere is nothing but good. It's give way too much power to some people working in shadow. It's the biggest error humankind has made in history. The only entity that should have the right to do so is a democratic government working with open book which is not the case actually. Trust is also a very dangerous system because it can hide any form of monopoly and also gives too much power to private entities.

Ack, there he goes again  Cheesy
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July 05, 2012, 08:13:11 PM
 #28

You can laugh if you want but tell me where I am wrong

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July 05, 2012, 08:16:03 PM
 #29

If you don't hate the nature of banks, you sure will when capital controls come into play.

Just posting this here, so I can dig it back up when this starts to occur for a nice "remember when I said..." post. I simply don't trust banks, at all. Nice people work for companies and organizations that are reprehensible all the time. My complaint isn't with them, more that the bank exists in its current form and is a parasite in the financial system.

I'd diversify and prepare if I were you.

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Matthew N. Wright
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July 05, 2012, 10:01:55 PM
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If you don't hate the nature of banks, you sure will when capital controls come into play.

Just posting this here, so I can dig it back up when this starts to occur for a nice "remember when I said..." post. I simply don't trust banks, at all. Nice people work for companies and organizations that are reprehensible all the time. My complaint isn't with them, more that the bank exists in its current form and is a parasite in the financial system.

I'd diversify and prepare if I were you.

Well spoken and exactly the same way I feel.

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July 06, 2012, 01:07:24 PM
 #31

You can laugh if you want but tell me where I am wrong

Bitcoin allows me to be my own bank.
A bitcoin bank does not take this freedom away from me.
A bitcoin bank is one click away from its nearest competitor because bitcoin lowers the barrier to entry or exit.

That's how bitcoin banks (like paytunia) are different from traditional banks.
It's not that we don't like traditional banks (ahem): we don't like the way they operate.

You are not wrong but you are missing half of the picture.

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July 09, 2012, 11:55:54 PM
 #32


You want to bark about the existence of banks? Yell at yourself for still using one.


I agree with this statement completely.

But again, it's not "banks" as a concept which are the problem. The problem is central government control of money - the problems that arise from modern banks are but symptoms of this government involvement in money itself. In a truly free market, where government does not get to monopolize money production, banks would serve customers well, and make wise financial decisions, or go out of business.
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July 10, 2012, 01:12:12 AM
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But again, it's not "banks" as a concept which are the problem. The problem is central government control of money - the problems that arise from modern banks are but symptoms of this government involvement in money itself. In a truly free market, where government does not get to monopolize money production, banks would serve customers well, and make wise financial decisions, or go out of business.

Governments is not in control of any currency, I don't know where you took this idea. Government is only regulating this stupid system. "banks" as the actual concept is a real problem because all money in circulation represent a dept and can be taken away from you (as society) at their all mighty willing at any moment. How a monetary system that only depend on its credit can be a good concept for the people. This concept is only good for the banks itself and that's all.

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July 10, 2012, 01:27:10 AM
 #34

Governments is not in control of any currency, I don't know where you took this idea. Government is only regulating this stupid system. "banks" as the actual concept is a real problem because all money in circulation represent a dept and can be taken away from you (as society) at their all mighty willing at any moment. How a monetary system that only depend on its credit can be a good concept for the people. This concept is only good for the banks itself and that's all.
Oh? Would you care to speculate where all the frozen wikileaks funds are? And how they got frozen in the first place? That sounds a lot like governmental control, doesn't it?

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knight22
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July 10, 2012, 01:30:44 AM
 #35

Governments is not in control of any currency, I don't know where you took this idea. Government is only regulating this stupid system. "banks" as the actual concept is a real problem because all money in circulation represent a dept and can be taken away from you (as society) at their all mighty willing at any moment. How a monetary system that only depend on its credit can be a good concept for the people. This concept is only good for the banks itself and that's all.
Oh? Would you care to speculate where all the frozen wikileaks funds are? And how they got frozen in the first place? That sounds a lot like governmental control, doesn't it?

I didn't know that Bank of America and MasterCard who where the first to threaten wikileaks was own by the government...


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July 10, 2012, 01:36:04 AM
 #36

Governments is not in control of any currency, I don't know where you took this idea. Government is only regulating this stupid system. "banks" as the actual concept is a real problem because all money in circulation represent a dept and can be taken away from you (as society) at their all mighty willing at any moment. How a monetary system that only depend on its credit can be a good concept for the people. This concept is only good for the banks itself and that's all.
Oh? Would you care to speculate where all the frozen wikileaks funds are? And how they got frozen in the first place? That sounds a lot like governmental control, doesn't it?
I didn't know that Bank of America and MasterCard who where the first to threaten wikileaks was own by the government...
Show me where they turn them away before the goverment got involved and poked its smelly nose into places where it didn't belong.

Do you seriously think they would turn away a revenue generating customer solely on ideological pretenses? Hell no.

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July 10, 2012, 01:40:09 AM
 #37

Governments is not in control of any currency, I don't know where you took this idea. Government is only regulating this stupid system. "banks" as the actual concept is a real problem because all money in circulation represent a dept and can be taken away from you (as society) at their all mighty willing at any moment. How a monetary system that only depend on its credit can be a good concept for the people. This concept is only good for the banks itself and that's all.
Oh? Would you care to speculate where all the frozen wikileaks funds are? And how they got frozen in the first place? That sounds a lot like governmental control, doesn't it?
I didn't know that Bank of America and MasterCard who where the first to threaten wikileaks was own by the government...
Show me where they turn them away before the goverment got involved and poked its smelly nose into places where it didn't belong.

Do you seriously think they would turn away a revenue generating customer solely on ideological pretenses? Hell no.

I don't know the particulars here, but I do know BofA was the target of one of their bigger leaks, so it may not have been solely ideological pretenses.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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knight22
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July 10, 2012, 01:44:25 AM
 #38

Understand this no mater what you have been told in school. All war since at least 200 years ago is only for 1 thing. Who is gonna own the printing machine of the country. Just make research on banking history and you will understand much more the actual society.

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July 10, 2012, 01:47:13 AM
 #39

Government and banking industries are walking hand by hand. But observe this, government is changing while who owns the banks are not so now guess who is telling who what to do.

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July 10, 2012, 01:53:02 AM
 #40

I don't have a bank account. Not one. Can I still hate banks, Matthew?
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