I am fed up with all these fucking banks which take your money and bet on casino games with it, while never ever asking for your consent, and not giving you a cent of the money they rake out of it back to you. And if they lose they will just declare bankruptcy and the government is going to pay you back only part of what you gave them, because the deposit insurance funds are limited.
It’s a game where they can either win or not lose anything. While you can either not win anything or lose a lot of money.
I can’t begin to explain how unfair this system is. If they are so inclined by betting on fabulous US treasury bonds then let them do it, but with their money for the love of god. And if they want to do it with ours, they ask us first for permission while giving us incentives like part of the benefits earned.
The whole problem is the entire financial services banking paradigm : You can only pay sometimes with Credit cards, and these cards can only give credit to a regular bank, not an individual. So if you ever want to pay something digitally you are forced to go through a bank, which processes settlements in at least a few days. The banks shouldn’t exist anymore in the cryptocurrency era, since bitcoin can settle payments(not credits) in around 10 minutes. And Ethereum is even at 1 second settlement. Cryptocurrencies are currently not able to grow as much as Credit card systems, so we can’t expect everyone to switch already, but we can already switch at least some of them so everyone can see cryptocurrency works already perfectly.
With cryptocurrency payment, we can just use money safeguarding agencies, who can keep your money safe from thieves for a fixed holding fee to cover for expenses like guardians salaries and 24h protection systems.
I’m currently working on a crypto wallet, it’s not finished yet and there might be regulation problems in the end. But if people use it for everyday expenses like groceries it might free us all from the whole casino market banking autocracy hell.