That statement is totally true... When we ask to a loan or a credit to the bank they charge us close to 80% of interest, but when we decide to save our money on the bank then they offer close to 3% annually. So, if they hold our money we get 3% while if we hold their money we have to pay 80%.
And think about what happens to the unclaimed money when someone dies... the banks keep tons of money from people who die day by day. And no one tells then anything. That's why i believe they are scammers too.
Topic: Banking System a Scam...!!! (Read 236 times)
Actually, I do not know about Godfrey Bloom until I browsed in and found some information about him. ''Well, the bank system is a scam, well, great words. but I think I'm also on this side, hate the bank system, but can't do many things to avoid. we can see how they take our money, make it difficult to withdraw, so complicated. they own our money and they make it as loan for other users. Well, this is sad and they take high interest so that people will be always suffering every time linking to the bank.
I dare to assume that the banking system hated by everyone has long been involved in manipulations with bitcoins, and has in its reserves not a small amount of coins! In my locale they are called "banksters"!
Actually, I do not know about Godfrey Bloom until I browsed in and found some information about him. ''Well, the bank system is a scam, well, great words. but I think I'm also on this side, hate the bank system, but can't do many things to avoid. we can see how they take our money, make it difficult to withdraw, so complicated. they own our money and they make it as loan for other users. Well, this is sad and they take high interest so that people will be always suffering every time linking to the bank.
Bank is evil especially those that are run by relying on margins by rotating customer funds. When banks provide debt with interest, many people dare to take speculative action in investing and consumption. In addition, banks are actually only intended for the rich, not all groups, with the assumption that the majority who can use bank funds freely are rich people who have collateral, for the rich the interest is very low while for the little people the interest is getting bigger.
So the bank is the dredging machine of the oligarchs and plutocrats. The oligarchs and bankers carried out a QE policy which was considered an act of forgery which actually caused the bubble economy. The abomination of financial regulation, half public half private, playing god with something that impacts all the people who are part of our global civilization, and seemingly without accountability or auditability.
So the bank is the dredging machine of the oligarchs and plutocrats. The oligarchs and bankers carried out a QE policy which was considered an act of forgery which actually caused the bubble economy. The abomination of financial regulation, half public half private, playing god with something that impacts all the people who are part of our global civilization, and seemingly without accountability or auditability.
Banking system is a scam: Yes.
Bitcoin Cash is a scam project: Yes.
Bitcoin.com is a website of scam project: Yes.
The website's layout is for Bitcoin Cash (BCH), not for Bitcoin. The owner of the site should register a website with a domain Bitcoincash.com to shill their project. They try to scam people with the domain name bitcoin.com.
The main color of bitcoin logo is orange, not green. What a shame from Roger Ver.
It is not new already in our industry. As the crypto becomes more famous, scamming activity goes rampant. This is the first time that I have encountered bitcoin.com and thanks for sharing this because I can avoid investing to that one.Bitcoin Cash is a scam project: Yes.
Bitcoin.com is a website of scam project: Yes.
The website's layout is for Bitcoin Cash (BCH), not for Bitcoin. The owner of the site should register a website with a domain Bitcoincash.com to shill their project. They try to scam people with the domain name bitcoin.com.
The main color of bitcoin logo is orange, not green. What a shame from Roger Ver.
I searched the website of bitcoin.com and its quiet irony that they posted a link about How to avoid bitcoin fraud while they are the site you have talked about a scam. Well, I don`t care in Bitcoin cash right now because it just hyped their supporters in order to attract to invest in bch. I prefer to buy other alts rather than investing to this one.
They print money out of the air and distribute it to people and receive interest in return. They use that money to buy back real-world assets. They buy real estate, gold, and businesses. Banks are always looking for ways for us to borrow their money and make us work to pay off those debts.
The monetary system is inflationary and it takes workers money away even though their money is still in their wallets.
The monetary system is inflationary and it takes workers money away even though their money is still in their wallets.
It's pretty obvious that a person like him will suddenly be all positive on Bitcoin since they are Bitcoin hodlers themselves so I would say that this is some kind of good news thinking that even economist are now shifting to cryptocurrencies as this is only one person and this person has admittedly bought his shares of Bitcoin now and aside from that Gold and Silver as well. So these guy is just thinking about crypto as some kind of investment vehicle for him nothing more than that. Also I don't know his stats in Twitter as well but he obviously said this in order to have some kind of influence in the market.
You've mentioned that the guy is an economist. It's a fact that the guy knows what he is doing and you would only consider the bank as a scam if you do not have the idea of whole finance. Banks only play their role as the rich. But money is something that you can play. They do not a scam, but the system itself would like a scam once you get to know it.
it is not just about the system itself being a scam but the much bigger problem is all the illegal things the banks are doing! from drug trafficking to money laundering and funding terrorism are all the things that the banks have been doing and have been getting caught doing it, which is the most absurd part since nobody is shutting them down even after they are caught red handed!
"The entire banking system is a scam and the state an institution of theft".
The entire banking system is business, a way to enrich none other than the owners. It may be considered a scam by other people but I don't agree. It is not a scam. A scam is something which appears differently so that others will be baited. Banks are banks. What you see is what you get. They are there to use the people's money to make wealth. They are not hiding it. It's just that ordinary people don't know much about it. Banks are not charity organizations.
The state may be a thief. It is because their role should be to provide a better life for its people. But they failed on this. Those powerful people of the state are not acting the way they should. They are just like banks enriching themselves.
Godfrey Bloom is a legend - his videos are basically indirect Bitcoin ads. He's like the British version of Ron Paul. It was great to see him purchase his first Bitcoin, right before the price goes nuts.
Everyday, someone noteworthy is diving balls deeps into Bitcoin. It's definitely a social movement that is picking up insane momentum again. Everyday I scroll my news feed, you can watch it in real-time. So obvious Bitcoin is about to explode. Market sentiment is kinda bearish but the big money is definitely interested. There's only so many times the whales can dump & accumulate.
Everyday, someone noteworthy is diving balls deeps into Bitcoin. It's definitely a social movement that is picking up insane momentum again. Everyday I scroll my news feed, you can watch it in real-time. So obvious Bitcoin is about to explode. Market sentiment is kinda bearish but the big money is definitely interested. There's only so many times the whales can dump & accumulate.
You forgot about credit cards.
If banks do not exist, there will be no credit cards, that's like borrowing money without collateral.
Crypto is still lacking of this, until one service can offer borrowing money without collateral, we still need banks.
And to those who want to transfer money, when they type in one letter of an address wrongly, the money is gone.
We still need to solve this issue.
Right now, it's cheap to transfer crypto to crypto.
However, what if i want to withdraw to fiat for everyday needs? The exchanges charges high fees to withdraw too.
Crypto needs time to adopt. i'm sure no businesses will want to use volatile ALTs as payment method.
To me, creating a digital stable fiat will solve the big issue here.
BTC will be the world reserve currency so the US won't dominate the world anymore.
And official digital fiat created by every country will be used by banks and for everyday transactions too.
If banks do not exist, there will be no credit cards, that's like borrowing money without collateral.
Crypto is still lacking of this, until one service can offer borrowing money without collateral, we still need banks.
And to those who want to transfer money, when they type in one letter of an address wrongly, the money is gone.
We still need to solve this issue.
Right now, it's cheap to transfer crypto to crypto.
However, what if i want to withdraw to fiat for everyday needs? The exchanges charges high fees to withdraw too.
Crypto needs time to adopt. i'm sure no businesses will want to use volatile ALTs as payment method.
To me, creating a digital stable fiat will solve the big issue here.
BTC will be the world reserve currency so the US won't dominate the world anymore.
And official digital fiat created by every country will be used by banks and for everyday transactions too.
Not just printing money, but banking system is inherently scam and we are always in the disadvantage like
(a) you borrow money, they put high interest rates
(b) if case of financial collapse, government bail them out
As for Godfrey Bloom, controversial figure or not, it's a win for us with his free advertisement of bitcoin. So let him to do and mention bitcoin in his tweet or during public occasion. If he can sway his followers to believed in bitcoin then good, otherwise, he is just another statistics on the growing number of personalities finding bitcoin as a safe haven.
Yes, of course real banking is indeed a scam and makes everyone crazy because the interest bills are getting higher to use, so stop using banking for that.(a) you borrow money, they put high interest rates
(b) if case of financial collapse, government bail them out
As for Godfrey Bloom, controversial figure or not, it's a win for us with his free advertisement of bitcoin. So let him to do and mention bitcoin in his tweet or during public occasion. If he can sway his followers to believed in bitcoin then good, otherwise, he is just another statistics on the growing number of personalities finding bitcoin as a safe haven.
With the Godfrey Bloom controversy, he automatically advertises Bitcoin for free and will definitely boost Bitcoin so that more people buy Bitcoin all of a sudden, I think this is an advantage for all who hold Bitcoin small or big and I believe Bitcoin price will look high. So let's see how it goes for the price of Bitcoin going forward.
Not just printing money, but banking system is inherently scam and we are always in the disadvantage like
(a) you borrow money, they put high interest rates
(b) if case of financial collapse, government bail them out
As for Godfrey Bloom, controversial figure or not, it's a win for us with his free advertisement of bitcoin. So let him to do and mention bitcoin in his tweet or during public occasion. If he can sway his followers to believed in bitcoin then good, otherwise, he is just another statistics on the growing number of personalities finding bitcoin as a safe haven.
(a) you borrow money, they put high interest rates
(b) if case of financial collapse, government bail them out
As for Godfrey Bloom, controversial figure or not, it's a win for us with his free advertisement of bitcoin. So let him to do and mention bitcoin in his tweet or during public occasion. If he can sway his followers to believed in bitcoin then good, otherwise, he is just another statistics on the growing number of personalities finding bitcoin as a safe haven.
Banking system per se was established with a certain purpose - to serve ordinary people, at least to those who had something to deposit in. It is akin to a warehouse but for money, there is nothing wrong with warehouses when it comes to commodities, for instance. It's just a business like any other. The problem here is not in banks, but in the monetary system we currently have. If we had a monetary system based on sound money such as bitcoin, banks would not be able to operate on fractional reserves, they would remain solvent all the time. They would have skin in the game, no one could print more bitcoins to bail them out. They would follow the rules or be out of business.
I'm unaware of it, please give some suggestions of good sources. From now on I've stopped using news.bitcoin.com
It's not necessarily that you're using it, it's that newbies are fooled into thinking Bitcoin Cash is actually the real project out of the two - hence, it's not advisable to post their website as a source of information because newbies may purchase the wrong coin and mess up. I guess any other websites sharing the same information are fine. 
Banking system is a scam: Yes.
Bitcoin Cash is a scam project: Yes.
Bitcoin.com is a website of scam project: Yes.
The website's layout is for Bitcoin Cash (BCH), not for Bitcoin. The owner of the site should register a website with a domain Bitcoincash.com to shill their project. They try to scam people with the domain name bitcoin.com.
The main color of bitcoin logo is orange, not green. What a shame from Roger Ver.
https://i.imgur.com/u4Kqatr.png
https://i.imgur.com/vwerNeW.png
same as the social media reddit, they using btc but symbol as cash https://www.reddit.com/r/btc/ this is scam either. be careful don't get the trap!.Bitcoin Cash is a scam project: Yes.
Bitcoin.com is a website of scam project: Yes.
The website's layout is for Bitcoin Cash (BCH), not for Bitcoin. The owner of the site should register a website with a domain Bitcoincash.com to shill their project. They try to scam people with the domain name bitcoin.com.
The main color of bitcoin logo is orange, not green. What a shame from Roger Ver.
https://i.imgur.com/u4Kqatr.png
https://i.imgur.com/vwerNeW.png
That guy purchased some Bitcoins and we are discussing him for about one week on the forum. 
Can we stop discussing every guy,which is barely famous,who decides to buy some Bitcoin?
Can we stop discussing every guy,which is barely famous,who decides to buy some Bitcoin?
I have seen that some thread is getting some guys popular for buying an amount of bitcoin. Anyway other person can make themselves popular by buying huge amount and becoming known as one of the Bitcoin whales. This is simple and I think some are intentionally doing this.
Quote
Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. - Satoshi Nakamoto
Satoshi did see and invented the solution of the abuse. It is a matter of time that people will going to believe in Satoshi an embrace the p2p digital currency bitcoin. It function as the same like exchanging other currencies, buying products and services to which users are anonymous or has the privacy. It is also consider as an investment.Bitcoin is an all in one cryptocurrency and really amazing technology that Satoshi Nakamoto invented.
Bitcoin.com is a website of scam project: Yes.
I'm unaware of it, please give some suggestions of good sources. From now on I've stopped using news.bitcoin.com
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