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The issue with banks is that the battle is legal/social, for example as someone who get paid by international wires often let me tell you that sometimes (rare c
by danamit 4y ago
The issue with banks is that the battle is legal/social, for example as someone who get paid by international wires often let me tell you that sometimes (rare cases but when it happens it happen to many) the money just disappears for months, and there is no way to troubleshoot it as a normal individual, you just go to the bank and ask about your money and either they just deny there is anything they can do and blame it on the sender, or just give you looks and question the legitimacy of what you are doing.
Sometimes banks freeze international wires until the government investigate the source of the funds to make sure they are not funding terrorism, this happen to any sum higher than $5k in my country for example. I just wish to never be in such a position.
- bogota 4y agoNot to mention when doing large wires with countries that have to do exchanges through a national bank your third party can just forget to accept it. Then you get a wire reversed for a large amount in some cases and the bank freezes your assets because you just got a huge amount of money from some random place. The thin vail of freedom is quickly lifted whenever you want to do anything international from sending money to getting married. This happened to me when purchasing a house in another country.
- thawaya3113 4y agoNone of those issues are resolved by crypto. If crypto is to be legitimized, the government isn’t simply gonna say, too bad, the stuff we think is absolutely necessary to the point we suspended civil liberties for, that stuff we will ignore for you. Whether you agree with what the govt is doing or not, they aren’t gonna stop doing it because it’s crypto.