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Why no one should be using banks

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why no one should be using banks
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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

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AZ FundChain Offers a Compelling Alternative to Traditional Crowdfunding

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AZ FundChain
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Although many tokens have collapsed during the ongoing altcoin apocalypse, the future remains bright for applications with real world usage.  Because of the ongoing bear market and limited trading opportunities, analyzing businesses with the potential to experience real world adoption should be the priority.  Part of that analysis should include looking at industries that need improvement.  During my analysis, one area that quickly popped up is the field of traditional crowdfunding and money circles.  And, as it turns out, AZ FundChain application offers a compelling alternative.

Problems with Traditional Crowdfunding

President Obama’s JOBS Act essentially laid the ground work for crowdfunding.  This legislation was passed in 2012 and included a provision for large groups of anonymous investors to fund startups.  It essentially gets around the dreaded “qualified investor” requirement that created a barrier for so many potential participants.  Crowdfunding is a great way for non-traditional businesses to raise funds for operating capital.  It certainly beats having to beg a bank for a loan, or, even worse, a loan shark.

But, as the common cliché goes, no good deed goes unpunished.  Traditional crowdfunding and money circles certainly have their fair share of problems.  The biggest problem is trust.  There are essentially very little checks and balances when it comes to how these companies will use the money that is raised.  Companies can promise the world but may not deliver…

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Neteller to Launch a Crypto Exchange

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Neteller
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The way to make sure that the cryptocurrency momentum continues and that cryptocurrency credibility occurs is when big companies begin offering services based around cryptocurrency and other features of blockchain. This was certainly the case when Neteller recently announced it will offer a cryptocurrency exchange service in addition to its digital wallet services. The company announced that the 28 currencies compatible with the fiat wallet were able to buy, sell, and hold cryptocurrencies – including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin. It makes sense to begin with Bitcoin and Ethereum as they are seen as the originators of what cryptocurrency and blockchain can do and also the future of how blockchain can be used, despite news that Ripple may be set to topple them all. Neteller’s move into cryptocurrency shows it has its sights set on a bright future of cryptocurrency and making it more accessible. But where do they stand now?

Neteller and Cryptocurrency

Neteller are optimistic about the exchange features of the digital wallet, claiming that they plan to add more cryptocurrencies in the near future. Neteller’s benefit is the ease at which one can begin their cryptocurrency trading journey. Not only do a range of banks offer services to fund the wallets and exchanges, but so do a variety of online payment options. This helps remove the barrier to entry that exists in…

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MGO Will Likely Generate Substantial Gains During 2019

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MGO
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My new year’s resolution is to put the past year behind me and start fresh.  This means to stop worrying about past losses and focus on all the exciting projects that blockchain technology has made possible.  When analyzing new projects, I tend to look for projects that have 2 advantages; growing industry and lack of competition.  Companies with these advantages have always done well in the equity markets and there is no reason to believe they won’t do well in the crypto markets.  MobileGo (MGO) is one such project that will be one of the biggest winners during the next 12 months.

MobileGo’s currency, MGO, performed better than nearly every other token during the past 12 months.  While most altcoins were plunging by more than 90%, MGO is only down about 50%.  And, since September, the MGO token has exploded by more than 200%.  These trading gains can be attributed to increasing adoption rates of the MGO token, most notably on the Xsolla platform.

Xsolla is a global powerhouse within the gaming industry.  It’s a gaming platform that provides developers with critically important services such as marketing, billing, distribution, payment processing, and fraud prevention.  Xsolla’s pay station allows for every developer in the world to monetize by providing 700+ payment types.  The company also has a global presence that is unmatched by reaching 200+ geographies, utilizing…

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