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Destroy the Banks use Bitcoin Cash

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Written by   791
4 months ago

For those who follow my articles you know very well that I do not use a bank account just Bitcoin Cash and I intend to continue like this, because the continued use of Bitcoin Cash will accelerate the adoption of the currency and boost the use by more interested people using my example to get rid of those leeches once and for all. Of course, it won't be easy, since everything related to finance here has their rotten finger: paying workers, paying bills (water, electricity, supermarket) using mobile apps designed by them, paying for government services such as vehicle licenses, radio broadcast rate and more.

In other words, the banks still have an above average power and have the support of the government, but this power interferes a lot in what is the financial health of the citizen.

Her dream car🤑

To take as an example, I am going to tell you a story that happened to a colleague a few weeks ago. As we are in a pandemic, many services are still closed or working on ''slow gas'' to prevent community contagion and prevent more people from becoming infected with the virus that causes COVID-19.

This friend of mine has long wanted a car and, Mozambique is a country that imports most of the second-hand cars from Japan, and not running away from tradition, she also used the same system to buy her first locomotive medium. The first thing she did was go to one of these website sales agencies and choose her dream car, make her reservation and have the vehicle details and payment method sent via email.

The girl was euphoric, because for the first time in her life she could have her own car, but there was still a lot to do. As she did not have much money to hire a customs broker to deal with all matters inherent to the purchase of the same she preferred to act alone.

With the vehicle's payment details in the email, it was time to start running to make payments, but she didn't expect her big battle to be with the Bank. That's right with the Bank! As the country is in times of crisis due to COVID-19, this vehicle payment service only works on certain days of the week and has a lot of bureaucracy to do that. Not to mention that it is protected by a totally inefficient management.

Banks are centralised, expensive, anytime can block users and suspend accounts, it's government controlled

"You have 72 hours to pay for the vehicle and make the reservation" - this was a warning call in the email of the company that she intended to purchase the car in Japan and had not even managed to make the reservation payment because the bank it was making it difficult for her to access the service. She, as many people do, chose to use the easiest route, bribery, and there she managed to get her entry fee by managing to pay the money in time to make a reservation request.

Attention, that this is not just about payment, because when making the requisition she had to pay for other services that, without them, could not have had this chance, all charged by the bank:

  • Income tax

  • Local personal tax

  • Insurance.

Not to mention that she had to "wet the person's hand" (bank worker) to streamline her process. In short, she ended up spending more than she was expecting to pay.

And that was just the beginning of a tortuous journey, as the payment and reservation was already over, but the fight for the race by the banks was not even over. Shipping and inspection of the vehicle in Japan after confirmation of payment by the customer is made in 72 hours, as the payment must first pass through a bank in the United States of America (where the clearance is made) then released to the central bank of Japan that directs it to the recipient bank.

Meanwhile, this friend of mine still had to run out of time to pay for other services all under the tutelage of the bank: vehicle registration, parking at the port (the selling company pays for 3 days of parking, but due to COVID-19 the vehicle takes a long time in the park) because if you do not run the risk of paying a parking fine for exceeding the days, of course when the vehicle is only three days the amount will be refunded.

So she has already paid for everything, at least she thinking so, but not yet, because when the vehicle arrives, it is necessary to have an inspection in the country and it was another queer who had to form to pay at the bank!

In short, she spent more time in the Bank than anywhere else when she was buying her car and had the following consequences:

  • Took a long time

  • She paid more than she owed

  • Suffered several bureaucracies

  • Her bank transaction has increased payments (taxes)

  • Had to pay to third parties (bank employee) to streamline her process.

Time to use smart money

We are in modern times with smart money, and that is Bitcoin Cash, decentralized, cheap, secure

One of the disadvantages of the vehicle purchase service in Japan is that not all companies accept to be paid via cryptocurrencies, but there are some that after talking to the customer can pay using Bitcoin or another that is of interest to both parties. Of course, using Bitcoin Core (BTC) is much more expensive than paying in Metical, a lot because of the fees and also the slowness it, these takes days (if is to speed up, users must pay large amounts) to confirm transactions on the blockchain.

The best way to do this business would be to use Bitcoin Cash as digital smart money.

Using Bitcoin Cash the parties involved would have done the deal in record time, paying absurdly reduced fees and with total security in the transaction, the payment being made directly without intermediaries, only the interested parties (seller and buyer) and also had the protection relationship, because in pandemic time would make the payment from the comfort of the residence without having to move.

The world needs digital smart money, as it avoids bureaucracy, the user pays only what is stipulated in the deal, the transaction is fast, secure and its transfers confirmed in record time and in real time, avoiding that 72 bank hours waiting required by banks and giving the feeling of being the owner and master of your finances, after all the money has to be the property of its owner.

We live in modern times, on smart societies and honestly, it is time to say: LET'S DESTROY THE BANKS AND USE BITCOIN CASH.

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Written by   791
4 months ago
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Great writing. The banks were occupied all this time to find ways and regulate (limit) BTC, which they succeeded in a big part, but missed the Bitcoin upgrade, which is Bitcoin Cash. It is now a currency working for mass adoption.

Bitcoin Cash achieves the vision of the whitepaper and removes the bank from the equation. Well said, everything in your post is on point.

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4 months ago

Thanks mate 🙏 it's time to secure our own destiny free from banks and their games BCH works better for payments without need to third party control, we are the luck ones who uncovered this and we must stick with it.

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4 months ago