Stating The Obvious - They Are Terrified As No Longer Relevant

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The establishment is terrified of crypto and have no answers to fight it except using media to try and create havoc. The havoc may force the prices down temporarily, but are actually helping everyone buy the dips making crypto even bigger.

I find it very funny what China has been doing with "banning" crypto when not that long ago they were promoting the digital yuan. You can't have it both ways and have to come to terms with how they can work with it and not against it. Change is happening and we all know that and they know that.

The funniest thing I have read today was one of the Directors of the Peoples Bank Of China (PBOC) was stating the obvious. What he stated was that one of the biggest challenges was crypto can operate on it's own without the use of traditional banking systems and payment providers. That is very true and the divide is actually getting bigger and bigger the more games they play.

Delaying tactics are not going to stop what is already bubbling away and will boil over at some point. Banks and other businesses that offer payment services like Western Union need to move with the times otherwise they are history.

Last week I had to go into the bank to help my daughter pay staff wages and act as security. The bank costs that were charges were ludicrous and questioned the bank if this was normal. I haven't used a bank in this way in decades and it showed as the charges were around 5% which to me is nuts when you are drawing your own money. This is not providing a service, but ripping your customers off. not to mention they only had one teller open and it took over an hour with only one other person in front of us in the queue.

This was a once off as the business had made a late move on everyone
s accounts so salaries would have been missed for the casual staff who are paid fortnightly. Still it felt like the bank was robbing you as I am not used to paying excessive bank charges.

I mentioned COTI in my post last night and don't want to harp on it but they are a crypto bank. Getting change to run a business or to pay salaries is not somehting that is going to be needed over the next decades as who carries cash today? The services they offer are exactly what a bank provides today so why would anyone use the current establishment in how it operates today?

The FUD that we see happen very often doesn't make any sense and is really obvious why it is happening. Delaying whilst trying to come up with a plan to make the current establishment have a use case is not an easy solution as there are very few.

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Banks in Korea are providing the exchanges with the KYC they require to operate. This came into effect last week and was part of the new regulations.

We all saw the reports about Western Union and how they will lose in El Salvador as there is no need to send funds that way if you use crypto. In South Korea the exchanges have to partner with a bank in order to make the KYC real which is also another ploy to make them relevant.

Banks used to be a place you kept your money as you could earn interest and to be openly honest with what they are offering it is just not worth it. I use them for direct debits right now and that is the only reason why the accounts are still open. I do think many are seeing what we are noticing and slowly but surely the amount of people having bank accounts will drop.

The same stories keep resurfacing for different countries saying that the government is looking to help protect investors from crypto scams. Russia stating that Crypto is a ponzi scheme is not even worth reading as these are desperate stories. I think every country has at some point used the protecting investors as their excuse as they have nothing else to add and is the go to story.

Honestly I cannot wait for when the World is using Crypto how it should as I actually think things will run a hell of a lot smoother and quicker. the learning curve the masses need to have is not huge and adoption will happen quickly.

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