I think around sometime in May last year, I had to go to the bank to rectify some issues and also get my bank statement. Trust me when I say that it took me over 8 hours to gain access into the bank. The crowd was something else, of which I happened to be no. 253 who was also waiting patiently to get someone that could help me rectify and identify my issue. I also came across another customer who came to the bank with violence, demanding that he wants all his money.
I have also witnessed a situation where a lady's account was closed because she received a huge amount. Sadly, the bank couldn't even give her a good reason why her account was closed, but they insisted that the government did. It left me thinking, what has a common citizen got to do with the government?
you sound like you sugarcoat everything.never knew written document have different sounds ;D
the digital age also pushes the banks to adopt which is why as of now they also have the digital banking. you may never realize it but the ones we use like Paypal is exactly the same as the digital currency they are promoting. cryptocurrency provides freedom but the banking system is likely not.It's not clear of where you are pointing the whole context to. Is Paypal managed by the government or a private entity?. They offer services that gives opportunity to those who chooses to make transactions online. There is literally a behind the scene procedures that takes place between PayPal and the bank we intend to debit from or credit to.
the government have developed CBDC and most of these banks will be involved in developing this surveillance system. if they ever have success then we fell.I intend not to mention names of private companies that have brought their financial backup services to the citizens. It's true that the government introduced CBDC, but major/popular banks in the country have also failed to capitalize on such opportunities. In my country, we have a popular brand like OPAY, which is not managed by any bank in my country, but has proven to be a good service to the people. The digital services offered by various banks are still poor.
this digital currency will only be good if the currency is backed by gold. if they are not backed by any commodity then cryptocurrency will be more appropriate to use.
you sound like you sugarcoat everything.
the digital age also pushes the banks to adopt which is why as of now they also have the digital banking. you may never realize it but the ones we use like Paypal is exactly the same as the digital currency they are promoting. cryptocurrency provides freedom but the banking system is likely not.
We cannot generalize the bad experience of banks to all banks in the world, as commercial, investment and service banks all follow the Central Bank in policies, and the bank can force those banks to provide better features, as customer services will not cause banks to collapse compared to poor capital management.As you have noted, the success of banks is not only in their ability to be customer friendly. They could be very friendly but doing some shitty things behind the scene.
The unrealistic investments of these banks, which make the bank keep 99% of customers’ money, and accelerate the accumulation of assets and reduce liquidity, are what may cause one of the banks to collapse, including the collapse of all banks.
you sound like you sugarcoat everything.
the digital age also pushes the banks to adopt which is why as of now they also have the digital banking. you may never realize it but the ones we use like Paypal is exactly the same as the digital currency they are promoting. cryptocurrency provides freedom but the banking system is likely not.
Well for me I think it's an evolutionary process just like you said even the banks themselves don't want to be left behind and that's why they too have evolved by innovating CBDC which is almost same thing as crypto or digital money if you ask me though it's acceptance and adoption is not that as same but it's because of the centralize nature of the bank that's why it's adoption is a bit slow but am very certain the bank to themselves are doing all they can to join the moving train and like they say "if you can't beat them you join them".
If they actually find their way in by buying huge chunk of Bitcoin then it will be good for them and also for Bitcoin it's almost like a win-win situation and am sure like you that most of these government officials have their piece of finance on Bitcoin too.you sound like you sugarcoat everything.
the digital age also pushes the banks to adopt which is why as of now they also have the digital banking. you may never realize it but the ones we use like Paypal is exactly the same as the digital currency they are promoting. cryptocurrency provides freedom but the banking system is likely not.
Well for me I think it's an evolutionary process just like you said even the banks themselves don't want to be left behind and that's why they too have evolved by innovating CBDC which is almost same thing as crypto or digital money if you ask me though it's acceptance and adoption is not that as same but it's because of the centralize nature of the bank that's why it's adoption is a bit slow but am very certain the bank to themselves are doing all they can to join the moving train and like they say "if you can't beat them you join them".
the government and the banks are just in one boat. they always join together as they are the ones on the other side of the fence. government has always been doing the shady stuff and most of the time deceives the smartest people alive.
so i wouldn't be surprised if they have already joined in the form of institutions getting into crypto. it will sound very conspiracy theory for some of us but it always does when its the government that does it. but when criminals band together and do similar thing, its called organized crime.
If they actually find their way in by buying huge chunk of Bitcoin then it will be good for them and also for Bitcoin it's almost like a win-win situation and am sure like you that most of these government officials have their piece of finance on Bitcoin too.you sound like you sugarcoat everything.
the digital age also pushes the banks to adopt which is why as of now they also have the digital banking. you may never realize it but the ones we use like Paypal is exactly the same as the digital currency they are promoting. cryptocurrency provides freedom but the banking system is likely not.
Well for me I think it's an evolutionary process just like you said even the banks themselves don't want to be left behind and that's why they too have evolved by innovating CBDC which is almost same thing as crypto or digital money if you ask me though it's acceptance and adoption is not that as same but it's because of the centralize nature of the bank that's why it's adoption is a bit slow but am very certain the bank to themselves are doing all they can to join the moving train and like they say "if you can't beat them you join them".
the government and the banks are just in one boat. they always join together as they are the ones on the other side of the fence. government has always been doing the shady stuff and most of the time deceives the smartest people alive.
so i wouldn't be surprised if they have already joined in the form of institutions getting into crypto. it will sound very conspiracy theory for some of us but it always does when its the government that does it. but when criminals band together and do similar thing, its called organized crime.
My countries government is a perfect example of such hypocrisy, I know of many governors and government officials that have Bitcoin in their wallet and know about the benefits and yet they still hold a big NO stands to it, that's not until this new administration had a different view towards the benefits and potential money they can make through its taxing.