Friday 13 October 2017

Impact of crypto on our banks

What does the future have in store for banks have you noticed in more and more shops that you go into that they are now accepting bitcoin as a payment method alongside credit card payments, wow such a change in the last year or so. With more shops accepting this type of payment there is no wonder that the banking system will come under more pressure as most people don't trust our banking system (well i don't anyway) maybe someone reading this is involved in banking that right about now is giving out about my stupid opinion.

 I think over the last 100 years banks have been robbing us blind or better said robbing us and we know they are robbing us. Take for example in some banks if you lodge your money in it could take hours before you can use it or even withdraw it all in the mean time you will be charged for doing this.

So Mr Bank you want me to lodge my hard earned money into your bank and in return you get to charge me for spending my money (confused scratch of the head moment) just crazy. Now let me be the first to say even with crypto currency you will be also charged a certain amount to use it (dam they all want our money) but the big difference will be that it is such a small amount that you don't really notice it.

I have no hassle paying a small amount in bitcoin while I use bitcoin to help maintain the network it runs on, but paying a large amount to a bank that then pays the top dogs massive amount of money all in the meantime I cant get anyone on the phone to talk to if I have a problem is just crazy. We as a society have already moved so much in terms of money, ancient times we would have used gold as our main form of currency then some bright spark decided gold was to heavy to carry around and made paper money and then that was to heavy so we moved more into credit cards system and now we are going to end up more into digital money in terms of bitcoin which.

Believe me when I say it but you will start to notice that more and more shops will start to accept bitcoin as payment method which will be great for everyone but not for banks. We will start to keep the money we make and stop giving it to the corrupt banks. I know this was a bit of a rant post about banks and may have veered off topic a bit but as always it is just my opinion.

Thanks for reading!!!!!!!!     

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