Portugal craps on crypto, reverses policy

Discussion in 'Crypto Assets' started by Pekelo, Aug 4, 2022.

  1. Pekelo


    Proly somethin'

    zdreg, ET180, KCalhoun and 3 others like this.
  2. %%
    Proly something;
    for sure, especially if one lives in A] Algeria, B] Bolivia c] China...............................
    Good thing for me\ i never waited on the gov to do all my risk management. LOL:D:D
  3. Eeeey, it is 'prolly'. Get your meme right!

    Jokes aside, they kept it open until there was a business, now that they see a great risk things change. Banks are banks after all.
    KCalhoun, NoahA and murray t turtle like this.
  4. On one side BlackRock partners with Coinbase, at the other side of the pond banks get rid of fake coins. There's something dodgy and smelly here.
  5. Baron

    Baron ET Founder

    Crypto transfers are peer-to-peer so banks will always be at odds with the crypto world, which is the way it should be. I'm sure that Blockbuster wasn't the most complimentary of Netflix, but we all know how that story ended regardless. As much as the banks would love for you to just continue embracing "banker's hours", and as much as they want you to really enjoy them charging you monthly service fees for your accounts and separate charges for wire transfers, overdrafts, and whatever else they can think of, the reality is that the world is still moving forward at breakneck speed to a new financial model.

    What's ironic about the whole Portugal story is that the banks are actually giving users more reason to embrace crypto! The fact that your account can just be closed by your bank at any time and for any reason is exactly one of the reasons that crypto was created and embraced to begin with.
    d08, Trader Curt, johnarb and 4 others like this.
  6. Overnight


    There is still one Blockbuster store open, somewhere in Idaho or something! The thing that would not DIE! LOL
    KCalhoun likes this.
  7. Only peer to peer when you engage in some transactions. Most of the get rich quick crowd are looking to cash out someday and that requires an exchange.
  8. maxinger


  9. Ok but the reality is that the crypto system is almost fully dependent on the trad bank system, cause barely anyone in crypto actually bothered to put significant effort & investment into utilizing the tech to capture the value on the base commerce level, where actual currency truly matters. Instead they just want to play ponzi asset games. So I disagree with your assessment, cause the reality is that the vast majority of current, and the new users, don't give a shit about all that fight the trad banking stuff. Especially the BTC community, who is busy lobbying for gov regulation.

    But if you truly believe in what you said, I would assume that you are a big Monero guy. The only coin to make any real progress in that direction.
  10. It is part of the regulations, banks cannot close your account if they don't have a reason to do it. Those regulations also protect your funds. Banks do not close your account if they are not forced to do it by a government, they want as many accounts as possible.

    I know you crypto fans need an enemy, but banks are on your side, they don't want anything regulated.