Big companies will never let you have the financial freedom - page 5.

Abu-Naim

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Quote from: icalical on August 09, 2023, 09:23:05 AM

Government will always needs everything to be under control. But in my opinion it's understandable at some extent, not all of the citizen under the government have understanding and knowledge in financial and technology, and those people need to be protected by the government, and the easiest way to protect is to make everything under their control.

That is why government is restricting them from adopting Bitcoin because if they found out the importance of having financial freedom through bitcoin, the government cannot be able to control them again as they will prefer buying and holding bitcoin instead of been control by government.

Quote

And about big companies its much more simple, they need to make profit, if they can control their product, they wont make any profit. The only option if people want the currency that is not under control is to use a pure decentralized.

That is bitcoin.

Altryist

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Quote from: UmerIdrees on August 07, 2023, 05:59:20 PM

This is a very sad reality that almost all the big companies including the government institutions will never think of the general public and theirBTC focus is on how to keep the public under control and for this they can take every measure and go to extreme immorality.

I was reading a tweet where the Paypal stablecoin has a code where they can freeze the money at any time and the wallet holder will not be able to use his coins.

You just cannot trust these stablecoins or altcoins, as most of them are made, not to give us financial freedom but for their own benefit.
Only Bitcoin is the one on which we can trust.

Therefore, they created CBDC and are now trying to introduce it into the financial systems of states, this will give them complete control and the ability to block any accounts, of each person. No need to think that this is done for our good, first of all it is done for total control. I agree that only bitcoin can be trusted, this is the only coin with which you can feel safe.

Maslate

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We can only enjoy freedom if we have anonymity; that's supposed to be what crypto would bring into our life, complete freedom. However, with the advent of regulation, cryptocurrencies are not fully anonymous anymore, as coins are regulated through exchanges and companies that facilitate transactions.

It's not the big companies that are to be blamed, as they are just following what is mandated by law; it's the regulators, it's the government that should be blamed for the loss of freedom.

If we are aiming for full freedom, these should exist:

-Blockchain
-Decentralized exchange
-No government intervention.

icalical

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Government will always needs everything to be under control. But in my opinion it's understandable at some extent, not all of the citizen under the government have understanding and knowledge in financial and technology, and those people need to be protected by the government, and the easiest way to protect is to make everything under their control.

And about big companies its much more simple, they need to make profit, if they can control their product, they wont make any profit. The only option if people want the currency that is not under control is to use a pure decentralized.

Smartvirus

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Quote from: romero121 on August 08, 2023, 03:52:37 PM

In one way or the other everything needs to be under control.

Apparently, we don't live in a lawless world and so long as there are laws, ther3 would be those that instill these laws and thus, have means of ensuring that these laws are functional and defaulters gets punished on their flaws. Even on the form, there exists some fomr of control or authority by some assigned users over others. Like, your account could be banned either gemporalbor permanent depending on what rule you broke. The emphases here is control.

It's not out of place to have the government or other bodies of a platform whom you use or work with to have some control over your account and assets on them. Should you be looking towards a sole custody of your assets, your better of owning a non custodial wallet. It's important that one must learn how use certain services to be safe and having to stock coin on any centralized system has got challenges of its own.

Whne control becomes of great concern, you sorteans of escape.

milewilda

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Quote from: UmerIdrees on August 07, 2023, 05:59:20 PM

This is a very sad reality that almost all the big companies including the government institutions will never think of the general public and theirBTC focus is on how to keep the public under control and for this they can take every measure and go to extreme immorality.

I was reading a tweet where the Paypal stablecoin has a code where they can freeze the money at any time and the wallet holder will not be able to use his coins.

You just cannot trust these stablecoins or altcoins, as most of them are made, not to give us financial freedom but for their own benefit.
Only Bitcoin is the one on which we can trust.

Anything other than Bitcoin is totally that centralized but of course this one excluding those totally anonymous coins like XMR and ZCASH as far as i know which been considered to be that on this way but those other coins
which could really be able or having the feature on freezing or locking up or retrieve back those coins then this is something that totally break out the real essence of crypto currency on which it would really be not surprising that Paypal would really be creating something similar like this. Isnt a shocking news? Not really. We know that Paypal would always be sticking into something that would really love on tracing everything and since this one is heavily regulated with the government then expect that they wont really be making out such step that would really be going against on government rules since they had already that kind of reputation and popularity and they wont really be liking to face up some charges or whatever things that government would be throwing at them. This is why on the time that they do make out their own stable coin then having this feature is no brainer or
something that would really be in default. What you would expect?

romero121

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In one way or the other everything needs to be under control. The innovation is decentralised while the following projects were much aimed at their personal upliftment. Bitcoin is the only thing that gives you with the best whereas the altcoins including the PayPal stablecoin is high risk involved. In the past due to some issues network used to get struck and big volume of funds have got frozen. Later after much efforts the fozen fund gets to be used without any problem. In such incidents there won't be anything intentional to freeze the funds. What we see with PayPal stablecoin is completely begun with intention to freeze funds whenever required. This is not good for the cryptomarket.

MFahad

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There is no guarantee about others altcoins that they will give you profit or will be under your control but in the case of bitcoin it is based on Decentralized technology which refers to the fact that no other entity have any control over it.

Security and safety is the reason that most of the crypto users believe in bitcoin, the mechanism of payment is very secure. Some individuals just focus on greater yield of altcoins but they don't think that related risks are also very high which are not such higher in bitcoin.

Government institutions have control on providing income because they are not decentralized and are based on centralized authority which means that income is under their control but in bitcoin such a technology does not exists.

isaac_clarke22

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Quote from: UmerIdrees on August 07, 2023, 05:59:20 PM

This is a very sad reality that almost all the big companies including the government institutions will never think of the general public and theirBTC focus is on how to keep the public under control and for this they can take every measure and go to extreme immorality.

I was reading a tweet where the Paypal stablecoin has a code where they can freeze the money at any time and the wallet holder will not be able to use his coins.

You just cannot trust these stablecoins or altcoins, as most of them are made, not to give us financial freedom but for their own benefit.
Only Bitcoin is the one on which we can trust.

Well what can we expect anyway from companies? Baby sit us and let us have all our own? As long as something is directly in control by someone or even created by someone, they have the means to do whatever they want no matter what they please.

Heh. Paypal. I avoided that platform long time ago when they just locked my account due to lack of verification even if I submitted a legitimate ID. Just because I have so much to hold, they just did a lock in my account. OP I know you mentioned that we can trust Bitcoin, just be careful custodial wallet.

Bitcoin gave us freedom, but companies adopting might say otherwise for their users.

Helena Yu

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PayPal itself is one of worse company, they have a buggy website, tend to freeze someone else money for few weeks or months and they charge quite high fee.

This PayPal stable coin is obviously want to compete against USDT, they launch it ASAP in order to gain more attention before there's a country officially launch their own CBDC. More and more crypto adoption isn't looking good due to this centralization.

Lucius

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Quote from: UmerIdrees on August 07, 2023, 05:59:20 PM

~snip~
You just cannot trust these stablecoins or altcoins, as most of them are made, not to give us financial freedom but for their own benefit.
Only Bitcoin is the one on which we can trust.

You sound disappointed as if you just realized this (although I hope that's not the case), but the system has always looked at ordinary people as consumables, whether you consider the Middle Ages or the period 100 years ago or what we have today. Financial independence would be a complete disaster for those at the top of the pyramid, because centralized currencies are one of the most effective mechanisms of controlling the masses through all the long instruments that directly derive from them.

It is true that stablecoins are one of the biggest follies that people have accepted because they consider them an easy and simple way to transfer value, but they are neither stable, nor secure, nor nearly as much as most people think. Altcoins are definitely a story for themselves, because as I commented the other day in another topic, I don't consider them to be anything other than tokens for gambling in a game called Pump&Dump.

retreat

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Big companies and the government certainly won't allow us to be able to get financial freedom because when we do get it it will be a loss for them. Therefore, there is no need to be surprised that big companies cooperate with the government to be able to smoothen their business and force the government to regulate various things which will benefit them and this will restrain us. Even big companies also play dirty practices to be able to make products like Bitcoin or any products that threaten them to look ugly in the public eye, so that people prefer to use the products they launch.

ZAINmalik75

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You have pointed out a great issue but that's not something new about we don't know. All the traditional companies or digital companies are connected to banks directly or indirectly. This means banks are the main medium through which they transfer there funds. But to adopt Blockchain technology like the CBDC or FedNow service. where instant transaction and full support etc. features are shown like that's all we need. In reality, most of the people are happy to find such tools.

But they don't know that such companies are made to control you so that you guys don't turn to BTC or other decentralized systems where we could gain financial freedom. But those who know the reality behind such companies must have to spread awareness among others. Because that's how there main motive of using Blockchain technology to lure people into thinking that it's same as BTC blockchain but it is not.

NotATether

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Big companies really just care about selling their products or subscriptions, so their intrusion into your financial freedom is actually fairly limited (unless you spend your money badly).

But Paypal, on the other hand.... they manage your money for you, so they can do basically whatever they want with it. So don't store your money with Paypal, if you have a shred of self-sovereignty. It's mainly intended for people who keep falling for bad sellers and need a refund.

dothebeats

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Quote from: YUriy1991 on August 08, 2023, 02:01:09 AM

Yes, BTC is not an illusion.

We admit crypto trading using Tether, the largest stablecoin, accounts for almost half of all trades on crypto asset trading platforms. But if things like Paypal happen, that's a fundamental weakness point. if they do so and it quickly collapses as the irrational excitement subsides. Therefore, we must focus and never get attracted easily. Currently, there are still many investors who are inexperienced and maintain financial system stability. Many invest without understanding what they are buying.

This happens a lot. People discover investing and heard how it can make profit and the next opportunity they see to invest they will mindlessly grab it, even without knowing just what they bought or invested in. People tend to go blind and just mindlessly dive into something they are clueless about just for money. Hence, it should be greatly emphasized how important research is, as well as asking for second thoughts and advice from those who are already knowledgeable in the field.

YUriy1991

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Yes, BTC is not an illusion.

We admit crypto trading using Tether, the largest stablecoin, accounts for almost half of all trades on crypto asset trading platforms. But if things like Paypal happen, that's a fundamental weakness point. if they do so and it quickly collapses as the irrational excitement subsides. Therefore, we must focus and never get attracted easily. Currently, there are still many investors who are inexperienced and maintain financial system stability. Many invest without understanding what they are buying.

Poker Player

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How shocking, eh?

I don't know if you have stopped to think about the fact that you are only presenting the consumer's point of view. Of course, if you are a consumer, companies are not even going to think about your financial freedom.

Become an investor in those companies, or create one, and see if things change.

I am talking about companies in general, not only in the crypto world. The example you give of the Paypal stablecoin does not surprise me, a centralizedshitcoin and that they can freeze. What you should not do is to use it.

michellee

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Just leave the big companies alone if they won't give us financial freedom. But we already have it by knowing and using Bitcoin. With Bitcoin, we can have it. So there's no need to worry if big companies keep blocking us from having financial freedom.

We can look for coins other than Bitcoin to save money, but saving Bitcoin is better than saving other coins. And we also don't need to save money in Paypal's stablecoin, especially with that tweet. That proves we have to be really responsible with the crypto we have.

So keep as much Bitcoin as possible, don't tell anyone you have Bitcoin. There will come a time when governments will realize that their citizens need financial freedom and they won't be able to stop it. And when Bitcoiners can do that, we can get financial freedom. Just HODL and sell when you are profitable Grin

Sim_card

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Government, financial institutions and big companies don't care about their customers interest but they are after their business to make profit. That's why you see that they come up with fake project to scam their customers. OR they put some conditions to favour themselves so that they van freeze customers funds and turn it to theirs. All these altcoins can do the same because it is a centralized one. This is one of the reason that makes me not to invest in any centralized platform to avoid such. Bitcoin is the only decentralized project that you can have your freedom to use your bitcoin and there is no rules and regulations that will deprive you access to your coins in your noncustodial wallet.

yhiaali3

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Not only Paypal stablecoin can freeze funds at any time but any centralized cryptocurrency can do that, even the most popular stablecoin USDT can freeze your funds and ban you anytime without any reason.

So I wasn't too happy when I heard the news that Paypal is launching its stablecoin PYUSD because it will further deepen the centralization that governments love.

The only fully decentralized coin with the highest reliability is Bitcoin without a competitor.

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