. Only #Bitcoin and Cheese can save Mankind
Why people no longer need The Banks .. but don’t yet realize it.
01/26/2014Posted by on
Let’s face it , ask any passer-by what they think about Bankers and you are guaranteed a juicy four-letter word type response. Never in the history of our Modern Times have the leaders of our financial institutions been held in such contempt and deep mistrust by the population. ( Sir Fred Goodwin at RBS, Henry Lehman and Richard Fuld at Lehman Brothers, the Rev Flowers at Coop Bank etc .. etc.. etc )
And it’s not only the ‘Fat Cats’ at the top that are getting this treatment. Recent incidents such as the Cyprus banking shut-down, and subsequent confiscation of deposits, the policy of HSBC in the UK of limiting cash withdrawals, and the repeated incidents of ATM and POS systems failures ( either computer crashes or hackings ?) have hit hard at the General Public’s patience with the whole banking system as a whole.
So why aren’t they withdrawing their money in droves ?
There are two main reasons why this isn’t happening – Yet. Firstly, whatever one’s view of Banks most people feel that they can not do without them. A Bank allows them a depository for their immediate ‘store of income’ ( whether this be monthly salaries, state benefits or forms of unearned income etc) So in effect they never see any ‘cash’, as its just a “numbers transfer” into their bank account. This has a certain convenience in not having to carry vulnerable large amounts of cash on their person. So, this seems a ‘value’ in safety terms in handing over control of their money. In return for this, it is perceived as another ‘value’ that their Bank then grants them the means to transfer their money – via cheques, credit cards, inter-bank transfers etc. to carry on their everyday life. But as pointed out previously, the ‘system’ can easily break down leaving people with no accesses to their own resources. But as these breakdowns, at present, are not all that frequent most people have not given any thought as to whether there may be any alternative.
This is the second reason why current account banking is so intransigent to change. The perceived lack of any alternative. Again, stop any passer-by and they will say to you ‘ all banks are the same, there isn’t much point in switching my money” ( interesting that they still say ‘my money’ even though it passed straight from the “Employer” to the “Bank’ without ever passing through their hands)
Effectively people have handed-over the personal responsibility for their own money – to a third party – The Banks – that, lets face it, mainly serves their own institutional interests and more times than not actually exploit the account holder, with exorbitant penalties and handling charges , that can amount to a very high percentage taken from the “money” of that individual.
So, given all this distrust, annoyance and frustration among the General Public, we have a situation here that is crying out for a radical reform.
We need a concerted public-awareness campaign , that sets out in clear terms – without ‘political’ or ‘ideological’ over-layers – why the development of the Blockchain and the Ethereum scripting protocol will enable ordinary people to take back control of their own money by embracing Bitcoin .
Your Personal “bank account” will lie in your hands – and the blockchain and all the applications that are being built daily on top of that, will enable YOU to perform yourself all the functions that your bank used to do. We are not quite there yet , but the hundreds of coders and cryptographers that are working day and night across the globe, cooperating together to grow the protocol, will deliver that ‘golden egg’ very very soon.
This is dynamite to the Bankers ( and they know it !) – so expect a lot of ‘fight back’ , dirty-tricks, and sabotage attempts – but with the right advocates and ‘bitcoin apostles’ interfacing directly with the public at large, and spreading the word, we can get the message out.
#justsaying #The Future