Bitcoin vs. the Banks

[Matthew N. Wright]

Dear tinfoil hatters,

So bankers hate bitcoins huh






Fuck you. They love bitcoins and they think it's really cool. Not everyone who works at a bank, owns a bank or has money in a bank account is against human rights, freedoms and decentralization.

They do their job because the free market (read: you) demands them to.


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

Paypal for bitcoin? MtGox? Are you fucking kidding me?









P.S. I got a free piggy bank and one more subscriber to the Bitcoin magazine.

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[grondilu]

You have a point.  Too much bank hate is ridiculous.

One reason why it's silly to say that banks are bad compared to bitcoin is that bitcoin DID NOT exist before 2009.  We can not blame bankers for not having invented bitcoin.

[kangasbros]

I don't hate banks, I think that we just need more alternatives and competition. I think this is the most common stance here.

But also, I don't want to swear at tinfoil hatters and bank haters, because they are nice people, even if a little weird

[herzmeister]

Code:

!=

[FlipPro]

Love this post.

P.S 95% of the people who work for banks are regular people. It's the manipulators at the top that should be noted...

[aq]

Can someone in San Jose please quickly visit the PayPal HQ and hand out a spare Bitcoin Magazin to someone random there.
Take a few pictures about this "event". Then post them here adding this text: "fuck you - paypal loves bitcoins"

[cypherdoc]

Dear tinfoil hatters,

So bankers hate bitcoins huh

Fuck you. They love bitcoins and they think it's really cool.

could of fooled me.  that guy doesn't look like Jamie Dimon.

[benjamindees]

They do their job because the free market (read: you) demands them to.

Technically, most of them do their job because they used government force to monopolize the inter-generational debt arbitrage market, and because central banks support them via securities fraud.

But you have a point, it's not all.

[Clipse]

Damn, everything asian looks like an anime store even their banks.

Our banks look so serious inside. :/

[kiba]

Is the magazine translated into Korean? This story is suspect.

[jimbobway]

Hating on banks is too mainstream in the bitcoin comminity so Matt attempts to be hipsterish and go against mainstream.

[genjix]

Banks are some of the scummiest and dishonest organisations around. Money laundering, market manipulation, anti-competitive practices and obscene dishonesty are their call sign. They are in bed with mafioso and Russian oligarchs.

Also you don't really hate banks until you've been forced to deal with them for 2 years of your life. Say for instance, if you run a Bitcoin exchange. They are absolute trash, retarded backwards systems run by idiots, retards and dickheads.

I go every so often to financial conferences. All I see around me are dumbasses in suits. I always wonder how the fuck they are getting paid so much for doing so little. They are soooo stupid. And they are obsessed with fads. Once one banker spouts a meme, it becomes a mad rage. Maybe the meme-originator will write a book with a fancy title and then be invited to every banker conference in existence for eternity while little bankers spout the same recycled, repackaged and redundant memes until another charlatan comes along. The current memes are: the cashless society (that would be horrible) and mobile payments (to the max).

They never really get Bitcoin because it is so outside of their reality. They can only have it related in terms of concrete things, and lack the ability to think abstractly. Men of the system, bound by regimentation and schedules, robotic tin-headed men of shiny simple things and boring blaa blaa are opposite to the Bitcoiner type. The Bitcoiner type is more like the conspiracy theorist who believes all people are secretly full of cynicism, hate, ... or a romantic imaginer of distant lands, worlds and eternity and genuinely wants to liberate mankind from the haughty shackles of poverty and disempowerment, or even a curious mind who sees growth-potential in a booming economy and is playfully along for the ride (and hey, maybe some profit ). To an extent I guess we're all parts of those in different doses.

[cypherdoc]

Banks are some of the scummiest and dishonest organisations around. Money laundering, market manipulation, anti-competitive practices and obscene dishonesty are their call sign. They are in bed with mafioso and Russian oligarchs.

Also you don't really hate banks until you've been forced to deal with them for 2 years of your life. Say for instance, if you run a Bitcoin exchange. They are absolute trash, retarded backwards systems run by idiots, retards and dickheads.

I go every so often to financial conferences. All I see around me are dumbasses in suits. I always wonder how the fuck they are getting paid so much for doing so little. They are soooo stupid. And they are obsessed with fads. Once one banker spouts a meme, it becomes a mad rage. Maybe the meme-originator will write a book with a fancy title and then be invited to every banker conference in existence for eternity while little bankers spout the same recycled, repackaged and redundant memes until another charlatan comes along. The current memes are: the cashless society (that would be horrible) and mobile payments (to the max).

They never really get Bitcoin because it is so outside of their reality. They can only have it related in terms of concrete things, and lack the ability to think abstractly. Men of the system, bound by regimentation and schedules, robotic tin-headed men of shiny simple things and boring blaa blaa are opposite to the Bitcoiner type. The Bitcoiner type is more like the conspiracy theorist who believes all people are secretly full of cynicism, hate, ... or a romantic imaginer of distant lands, worlds and eternity and genuinely wants to liberate mankind from the haughty shackles of poverty and disempowerment, or even a curious mind who sees growth-potential in a booming economy and is playfully along for the ride (and hey, maybe some profit ). To an extent I guess we're all parts of those in different doses.

we tried to warn you against wasting your time trying to get "regulated" by these jerks.

[kiba]

Banks are some of the scummiest and dishonest organisations around. Money laundering, market manipulation, anti-competitive practices and obscene dishonesty are their call sign. They are in bed with mafioso and Russian oligarchs.

You know what really make me rage? Anti-money laundering laws. I don't care if they launder money, but I do care if they're spying for the government without a warrant. AML essentially makes bank into unpaid spy.

But do I hate the bank for that? Not really. I hate the government. Of all the ways they choose to tax and fight crime, they chose particularly privacy destructive laws.

[pekv2]

But do I hate the bank for that? Not really. I hate the government.

I have strong belief that the banks own the govt, in a way you should hate the banks as well.

I hate em both with passion.

[MaxSan]

There are reasons I dislike my bank.

My main bank, they removed the ability to go and transfer money to another account. (yes, thats correct, I cant make a transfer using standarder faster payments in the UK to another UK account).

I was unable to use my online banking for two weeks due to changing my phone number (apparetly there computers taking that long to allow me to do anything further, even going into a branch with a passport was not good enough to confirm I made the change).

My other bank cant do international transfers online. Its not a very large bank so finding an office can sometimes be rather tricky.

These are a few things. The list is actually quite extensive but that will do for now.

[SimonL]

Now now lets not get testy people. True, banks are the gatekeepers of the world's economies. They really do control all the money and they really like how things are ATM. No competitors, everyone playing the same game according to their rules. No-one daring to call them out. Must be fucking glorious up there in their crystal towers.

Bitcoin is a completely new set of rules, and the banks have little recourse against them unless they want to draw attention to their own shortcomings in their industry. We shouldn't hate those that work at banks though, they just want to pay the bills, get through life, etc. Whats more, they've never known how to live any differently so we really need to give the majority of the banking industry some slack. It's the pro-keynesianites I have utter hatred for. Such single-minded arbitrary meddling in the economies of nations is so utterly barbaric and overbearing. What the FUCK were people thinking 100 years ago.

It is wholesale corruption on a worldwide scale, or at least is now-a-days. Maybe back in the 1910s the quickfix, QE we all know and despise was the best alternative they had back then, but to keep doing it even now, over and over with the same boom/bust cycles is utter insanity. Hollowing out the value of the entire economy, JUST so it doesn't look so bad on the books? WHAT. THE. FUCK.

Hopefully Bitcoin will not just be the alternative many want, but also a wakeup call to the rest of the economic world that things CAN be done differently and it CAN be a longterm solution.

[minorman]

Remember that front line employees in banks have ZERO understanding of the banking , I.e. they don't know about FRB etc.
They are generally good people and not to be blamed. The fraudulent core business of FRB, which is only possible due to government support in the form of legal tender laws, the uniform commercial code (ucc) and the Basel rules is the problem with banking. Legalized counterfeiting of DEBT money.

[Boussac]

To work as a front desk employee in a bank these days must feel like working in a tobacco factory. The crooks are at the top of the company.
Only difference is bank clerks are well paid compared to factory workers because the bosses salaries are so insanely high with respect to their true capabilities.

[pekv2]

But do I hate the bank for that? Not really. I hate the government.

I have strong belief that the banks own the govt, in a way you should hate the banks as well.

I hate em both with passion.

Take a read and then, rent or buy the documentary.

Source.
http://en.wikipedia.org/wiki/Capitalism:_A_Love_Story

I find, he is on spot with every documentary he has made, I hoping he is coming out with something soon.