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I understand that at the moment it may seem like all the cryptocurrencies are in a bubble but honestly, I don't mind because it is forcing the banks to stop the

I understand that at the moment it may seem like all the cryptocurrencies are in a bubble but honestly, I don't mind because it is forcing the banks to stop their stupid cash grab and loosen up some of their rules. What about the stupid fees that bank charge you to have the privilege to have you as a customer? What about the fact that at the moment it takes 3-5 business days to make a simple bank transfer to another bank? What about those insane fees when you try to buy another currency through the banks? What about the fact that I have to call my bank and plead my case when I want to transfer an unusually large amount of money to somebody else because of them blocking the transfer and now I have to spend 1 hour on the phone to solve that issue and prove that I am the one who initiated the transfer? What about the fact the bankers have brought the world on the edge of a great depression due to their greed and left millions of people underwater on their mortgages? Bitcoin/LTC/ETH may not solve all the problems that we are facing now, it may not have much practical use at the moment either, but I 'll be damned if I give more money to the banksters.

paulcole 9y ago
>What about the stupid fees that bank charge you to have the privilege to have you as a customer? Pardon my ignorance but don’t banks provide a service? If they charge too much, can’t I find a bank that charges less? What makes their fees “stupid”?
- jachee 9y ago
  If I give a bank my cash, it is I who am providing them the service of liquidity, so that they can have money to loan to others (as a service) for interest. The only way I could find a "bank" with lower fees was to abandon banks altogether and switch to a credit union. I swear it's like all the banks collude to determine market rates for how many and how high of fees they can all charge their customers, to the point where—as a regular consumer—they're all indistinguishable. Not only are the credit union's fees lower (or non-existent in some cases) the interest rates are higher and there are no shareholders to appease, except for other members of the credit union.
  - paulcole 9y ago
    Don't banks provide the service of reducing the danger of holding cash or storing money in a risky investment?
wallacoloo 9y ago
> What about the stupid fees that bank charge you to have the privilege to have you as a customer? Might be worth using a credit union. To my knowledge, BECU isn't charging me any fees for my accounts with them. Also worth noting that all governed digital payment systems (VISA, Paypal) are (1) prone to censorship and (2) leak information. Additionally, ACH and card transactions are based on debits that are initiated by the person requesting funds, as opposed to credits that are initiated by the owner of the funds. Not so terrible, but for the fact that the approval process for transactions is almost always one-sided. Anyone can debit my account and that transaction will go through by default.

paulcole 9y ago

>What about the stupid fees that bank charge you to have the privilege to have you as a customer? Pardon my ignorance but don’t banks provide a service? If they charge too much, can’t I find a bank that charges less? What makes their fees “stupid”?

jachee 9y ago
If I give a bank my cash, it is I who am providing them the service of liquidity, so that they can have money to loan to others (as a service) for interest. The only way I could find a "bank" with lower fees was to abandon banks altogether and switch to a credit union. I swear it's like all the banks collude to determine market rates for how many and how high of fees they can all charge their customers, to the point where—as a regular consumer—they're all indistinguishable. Not only are the credit union's fees lower (or non-existent in some cases) the interest rates are higher and there are no shareholders to appease, except for other members of the credit union.
- paulcole 9y ago
  Don't banks provide the service of reducing the danger of holding cash or storing money in a risky investment?

wallacoloo 9y ago

> What about the stupid fees that bank charge you to have the privilege to have you as a customer? Might be worth using a credit union. To my knowledge, BECU isn't charging me any fees for my accounts with them. Also worth noting that all governed digital payment systems (VISA, Paypal) are (1) prone to censorship and (2) leak information. Additionally, ACH and card transactions are based on debits that are initiated by the person requesting funds, as opposed to credits that are initiated by the owner of the funds. Not so terrible, but for the fact that the approval process for transactions is almost always one-sided. Anyone can debit my account and that transaction will go through by default.