Connect with us

Don't Miss

Why no one should be using banks

Published

on

why no one should be using banks
READ LATER - DOWNLOAD THIS POST AS PDF

If government is the devil, the bank is a demon.

It’s not your money anymore.

The moment you put your money on your bank account it becomes the property of the bank. Legally speaking you have just lend your money for minuscule interest. And since the money is not your, terms do apply, so you cannot withdraw all of them in one day, if the amount is high.

Government will know everything

Today banks are obligated to tell the authorities everything they know about you, including how much money you have, how you got it and where you spend it. The golden age of bank secrecy is over. Of course if you are a law abiding citizen, you might think that you have nothing to hide, but it’s not about hiding stuff. It’s about basic human right, and rightness for private life. The government should not be allowed to watch you.

Banks ask too many stupid questions

It’s your money, you rightfully earned them, but still you need to explain to the bank where you got it from and be shamed by them. The funny part is that after long and painful due diligence process the bank may still decline in providing service for you.

They can legally suspend your account or even steal your money

Laws are not made to protect people, they are made to protect the government from the people. And this is the reason why government can legally take all your money from your bank account, and the bank will of course let them. And not to mention suspending your account for uncertain amount of time, which happens so often that everyone familiar to it.

Banks are making profit with your money and you are getting almost nothing in return

A typical bank has hundreds billions of €/$/£ of clients funds at it’s disposal and it pays less than 1% yearly interest on that, which is lower than the inflation. People basically give money to the bank for free and banks make millions of profit with it. That’s very good business, is it not?

Banks have too much power

Money is power. We all know that. And by giving our money to the banks we are giving them power. A lot of power. So much power that they basically control our society. This power can be only taken away if people and companies would stop using banks.

You can loose all your money if the bank goes bankrupt

Luckily in EU the government will back up your funds up to 100k€, but it’s only that. If you have over 100k€, the rest will be gone. And if you are using non-EU bank the back up amount can be significantly lower or lack completely.

Money transfer services provider by banks are worse than the ones offered by their competitors.

Today sending money via bank is the slowest option. The only thing that could be slower is to send cash by physical mail. Average bank transfer takes 1–2 days for IBAN transfer and 3–4 days for SWIFT transfer. And guess what? They don’t work on weekends. But with every online wallet and with crypto currencies you can send funds instantly, so why use banks in the first place?

Banks are no longer needed

The original idea of the bank as institution was quite useful. The point was that you would give your money to trusted 3rd party and they would keep them safe for you, so that thieves and criminal syndicates such as governments would not be able to steal it from you. But today banks provide security only from common thieves and there are lot of others secured options. Besides the crime rate has dropped significantly from what it was hundred years ago, so even if you keep cash at home in coffer and have some alarm system it will most likely be safe there.

There are better options available

Bitcoin and other crypto currencies are safer, more secured and government proof, so why use the worst solution?

Written by Filip Poutinstev

http://poutintsev.com

http://ico-services.net

Don't Miss

VOLUM (VLM) Announces Commencement of Token Generation Event

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

ESTONIA, May 4, 2019 – VOLUM (the “Company”), a multi-dimensional blockchain technology holding company, is thrilled to announce the commencement of the Volum (VLM) Token Generation Event (“TGE”) beginning on Saturday, May 4. The VLM utility token is the native cryptocurrency powering the VOLUM supply chain and logistics management platform.

Driven by algorithmically intelligent software tailored to logistics and supply chain management, along with Internet-of-Things (“IoT”) integrated functionality, and a backbone of hybrid public and consortium blockchain architecture, the platform is organized around the Volum (VLM) token. The VOLUM TGE will be managed by deploying ERC20 tokens on Ethereum Mainnet to maximize future access to cryptocurrency exchanges.

The VOLUM platform operates as a comprehensive control center for supply chain and logistics management operations. Companies who use this platform will be able to carry out a wide range of blockchain transactions including: Payments, Rewards, Purchase Orders, Legal Contracts, Regulatory Compliance, Taxation, Shipment Management, Letters of Origin, Customs Documents, Inputs/Outputs and Inventory Ordering, Delivery/Parcel Tracking, IoT Monitoring and Reporting, Big Data Analytics, and Inputs and End-Product Tracking/Traceability.

“The total addressable market for a blockchain-based supply chain solution is nearly $54 trillion globally, with the majority of the world’s workers playing some part of this equation” noted Arnaldo A. Detrés, CEO of Bengala Technologies, LLC, the principle blockchain developer working to build the VOLUM platform. “However, blockchain solutions have been unable to…

Continue Reading

Don't Miss

How to Secure Yourself in Relation to Bitcoin: Top VPN Services

Published

on

Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

Nowadays, more frequently people opt to use cryptocurrency such as Bitcoin while dealing with financial transactions for its convenience, so its increasing prevalence isn’t round-of-the-mill phenomenon but still, its users need to create fully protected cooltechzone to secure their data.

Recently, a great abundance of VPNs have started to accept it as a way of payment and it definitely makes sense: one buys VPN to retain anonymity on the Web, so why not to use the privacy-focused payment method? Paying for a VPN service with Bitcoins or any other cryptocurrency secures personal data from curious eyes leaving no traces.

What is a VPN?

Virtual Private Network (VPN) is generally presented by the group of linked to each other computers via the Internet. VPN boosts protection and provides a high level of anonymity to all types of Internet connections.

Security

While the connection to the ordinary Wi-Fi networks, a user usually gets access to the Internet directly, thus he becomes vulnerable to the hackers and the malware attempting to steal his personal data. On the other hand, applying VPN one transmits and gets data in encrypted form which makes it protected.

Anonymity

Generally, isn’t hard to trace an Ip-address of any user and to identify his location with sufficient accuracy. With the help of VPN, the attacker will only get the address of the removed computer. Undoubtedly, the safeguard…

Continue Reading

Don't Miss

Is it legal to gamble in Bitcoin casino?

Published

on

Bitcoin casino
READ LATER - DOWNLOAD THIS POST AS PDF

Bitcoin entered the world in 2009 and immediately begun a revolution on the cryptocurrency market. Presently, there are more than 700 different digital currencies, but Bitcoin still remains the most used one. However, despite the large business activity around Bitcoin, there is still no international legal law to regulate it.

Key facts on Legality in Bitcoin casinos

Laws and obligations concerning online gambling legislation vary from country to country. There are many jurisdictions that can issue gambling licenses to online casinos. But, these licenses are issued only after the online casino business meets the requirements of the chosen jurisdiction.

The necessity of Gambling License for Bitcoin casinos

In order to make it clean and clear, a reliable online casino will obtain an online gambling license. Among other things, it allows running a legal activity and assures the casino operator’s trustworthy behavior, fair gaming policy and transparency in business operations and gaming software offered to customers. A representative of this kind of casino, such as FortuneJack for example, will have good reviews and reputation, and stable business that is constantly growing and expanding throughout the years. You can also feel the stability by checking the website, and important details such as casino withdrawal time and the number of games offered for playing, as you can examine on Fortunejack.

There is a difference between Bitcoin and Bitcoin gambling legality. There are countries…

Continue Reading

Elite