The title may seem vague, but as the article develops, you will understand what I am referring to in detail.
As I wake up every day and quickly get connected with the inner and outer world through the sound waves, I listen and read to the BBC a lot. It was with this habit that I've been developing for a long time that I've been following the latest news from Afghanistan, but what took or even caught my attention was the fact that the platform 'OnlyFans' has banned part of its activities [I'm not going to push too hard here because that's not the point of the article] to satisfy their banking partners. Let's be clear,
I am not in favor of explicit material being illegally shared and consumed, but I also cannot pretend to be blind to an undeniable reality, this type of business is often very popular and even puts several millions into the state as well in banks.
Why the news drew my attention
First, because I'm not much 'a can't of an authoritarian bank system because I understand that these institutions cannot at any time impose rules that are highly favorable to one of the sides and harm their clients a lot. For those who don't know, banks are institutions that depend heavily on the money of clients, both companies and individuals, they really have no money and survive on the amount deposited in their institutions, imagine if for instance those deposits stop to go thru, how they could survive!
Have you ever stopped to think why they charge for almost everything that happens in the bank and why we pay to have money to be managed by them, we, the people are responsible for them to exist and for having given so much power to decide about our money they now do what they want. This is where the BBC's report caught my attention. It's clear that they have the power over their customers' money and can also decide who and how their financial tools can be used.
By practically forcing the platform to change its business policy just to keep its banking partners and continue to generate payments they, without realizing it, ended up giving more power to centralized financial agencies to use and ensure that only those they endorse can use their financial means. The platform could very well choose to use another payment method but, it was at a crossroads, they wanted to keep their platform generating profits and also 'kneel down' before their users to continue using their platform after all, they receive almost 20% for every 130 million users who are part of it.
Banks are a drought
One of the things that made me never want to use banks again is their policy to use the services they provide, they not only manage the money of citizens or companies that depend on them, but practically 'obligate' them to scrupulously follow their centralized rules . At any time, they can withdraw the right of use and without warning or even without worrying about the damage that comes with it.
All companies that decide to use their means of payment incur hostile treatment whenever they feel that their 'TOS' are in danger, they don't care about the citizen, but rather have a thirst for control and market monopoly as the sole service provider in digital or physical payments. Their fear of losing control makes their rules and restrictions measures very tight. They are practically in the market with the task of making sure they want their demands fulfilled and whoever is caught wearing a tight skirt will pay the price.
The need to use Bitcoin Cash as a digital currency for payments
One of the things that helps a lot when using Bitcoin Cash is knowing that the currency works for peer-to-peer payments and beyond, it offers enhanced privacy and transparency in transactions.
In the case of the aforementioned platform, they do not want to use or have not yet thought of this possibility, using decentralized payments to pay their content creators and thereby handing them over, the responsibility of managing their own savings, but they prefer to continue to attribute this function to banks that act as custodian on detriment of their users. That's what happens when decentralized currencies like Bitcoin Cash are used as a means of payment, a safe way for the users to be responsible for their own money, with the freedom to do anything at any time, without borders and without having to pay hefty fees just for maintenance, as happens when saving money in banks.
Summary
To sum up, I think that companies and perosn are still very tied up to the past and prefer to submit to the whims of banks and financial institutions, if instead they preferred to adopt decentralized payments, surely a lot would change. Not only in terms of financial institutions, as well as centralized management platforms for digital content creation with monetization, if they could only use payments like Bitcoin Cash, people would be more responsible for their finances and would not have to rely on institutions such banks to manage their money, this is more expensive and people are more dependent.
Using Bitcoin Cash not only frees people up, it also gives people space to see what it's like to deal with personal finances very close. It's time to leave the banks aside and get more freedom of payment choice using Bitcoin Cash as other cryptocurrencies that work for what the people's ambitions are, it makes no sense to continue leaving this function to banks while we can manage our own finances.
'Use Bitcoin Cash to manage your own money, the future is on the decentralized money and Bitcoin Cash is on the forefront to become mainstream'...
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Find me on noise.cash
...'read 05 of my latest articles about BCH and more:
The bank charges are becoming unbearable for the common man like us. Imagine a bank I've not used in about two years. I just checked the balance recently and I saw -#1,350. That's a negative balance. And I had a small amount in it then. An account I wasn't using, what were the charges for. I just left the account as it is. On the other hand, the $2 I had in my wallet some months ago has doubled.