VanEck says Bitcoin could hit $4.8M if it became the global reserve asset

M.W. · Apr 2, 2022

Bitcoin does not inflation adjust, if you want to buy groceries, housing, gasoline you still pay in local currency and need to convert. This will never change. Governments will not cease control of their monetary policies and hence you will convert regardless of what you hold unless you hold local currency. When prices go up for goods and services than you will be equally affected by inflation. The rest of your post just reflects your hatred for government and is not rooted in any truths or facts. If it was up to governments they would prefer zero inflation or very mild inflation both on the goods and service side and wage inflation.

NoahA said:
Listen, I agree that those guys are crooked and should never have gotten that money. But who gets to decide it should be taken away? One day they will come after you because of the way you talk. You're very anti lots of things on this message board. Should Baron remove you from the crypto forum because you don't agree with us?

All of this wealth could probably not have been stolen from the people and given to them in the first place if there was a public blockchain to track it all. We both agree that them having the riches is bad, but staying in fiat that can be easily controlled and confiscated is not the answer.

I'm not wasting too much time on this, its up to you to do the research, but I will mention one more.

Inflation. Its obvious that it hurts the poor people the most. When you create the divide between the rich and poor, you go back in time hundreds of years and recreate all the problems between the kings and peasants. There is simply no reason for why inflation needs to exist. Its a tax the government uses since people feel better about their purchasing power going down 10% every year, rather than being shown their taxes went up 10%. This inflation is of course necessary to hide the huge spending that the government embarks on, calling it necessary to help the little guy, but if you ask me, the little guy is much, much worse off than the guys at the top like CEO's and politicians. A currency that doesn't allow for unlimited inflation and debasement will fix income inequality and reign in massive government intervention into your personal life.

(ooopps, that is reason number two and I promised to only give you one... look up some videos by this guy... https://www.youtube.com/c/aantonop/videos , he talks about quite a bit about how freedom and privacy are critical to basic human rights)
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ph1l · Apr 2, 2022

deaddog said:
Well I had to send a security deposit to my landlady; Can't send an e-transfer between countries.
What bank do you deal with? I couldn't get a Canadian bank to transfer money to a US bank.
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https://wise.com/ca/send-money/

johnarb · Apr 2, 2022

M.W. said:
Bitcoin does not inflation adjust, if you want to buy groceries, housing, gasoline you still pay in local currency and need to convert. This will never change. Governments will not cease control of their monetary policies and hence you will convert regardless of what you hold unless you hold local currency. When prices go up for goods and services than you will be equally affected by inflation. The rest of your post just reflects your hatred for government and is not rooted in any truths or facts. If it was up to governments they would prefer zero inflation or very mild inflation both on the goods and service side and wage inflation.
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The books "The Bitcoin Standard" and "Layered Money" have a very good way of explaining the problem with money throughout thousands of years of human history over many empires

I don't think I can get you to read either of those books but maybe I can interest you in a short article

It does have reference explanation to Cantillon effect and Triffin's dilemma which I would highly recommend for you to read as well, but not necessary

https://blockworks.co/our-monetary-system-is-broken/

deaddog · Apr 2, 2022

ph1l said:
https://wise.com/ca/send-money/
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I guess that would work but there are fees involved and I'm trying to move US dollars to the US, not Canadian pesos. You get beat up twice with the fees and the exchange rate.

I have a US dollar account with a Canadian bank but it takes 10 days or so for a cheque to clear as Canadian and US banks don't seem to want to talk to each other electronically.

I can see where blockchain could be implemented.

ph1l · Apr 2, 2022

deaddog said:
I guess that would work but there are fees involved and I'm trying to move US dollars to the US, not Canadian pesos. You get beat up twice with the fees and the exchange rate.

I have a US dollar account with a Canadian bank but it takes 10 days or so for a cheque to clear as Canadian and US banks don't seem to want to talk to each other electronically.

I can see where blockchain could be implemented.
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If you are Canadian but don't want to use a bank account with "Canadian pesos" and your Canadian bank won't let you send your USD by bank wire (SWIFT), you might be able to open a bank account in the U.S. (doesn't look trivial to do though)
https://www.stilt.com/blog/2019/03/list-of-canadian-banks-in-usa/

If you’ve already made a financial investment in the U.S. and you own property, having a bank account is a must. On the other hand, if you are planning on getting property in the U.S.. and you’re considering a TN visa mortgage, you’ll most likely need a U.S. bank account at some point.

Canadian Banks in the U.S.
Now, after briefly introducing the main reasons why one would need a list of Canadian banks in the USA, let’s get to the actual list – shall we?

1. BMO Harris
BMO Harris makes it very easy for a Canadian to open a U.S. bank account. There are many advantages worth noting. For one thing, you can go through the entire procedure over the phone. This can be really convenient if you don’t have a lot of time on your hands to go to various banks.

At the same time, there are some specific accounts that don’t entail a balance requirement for waiving fees. On the other hand, a drawback could be that interest is paid specifically on the highest tier account. In addition, note that if you plan on opening a bank account with BMO Harris, you won’t be required to open a Canadian account as well.

Concurrently, bear in mind that BMO Harris has partnered with the Canadian bank BMO. Still, they are independent of one another. The process is time-efficient and you’ll most likely get it over within a few days’ time.

2. CIBC Online Banking
This is another bank that provides you with the opportunity of opening a U.S. bank account. However, before considering this, you should know that you must be an existing CIBC client prior to opening an account. This could be seen as a drawback by some people. Another potential disadvantage is the fact that the balance for maintaining the waive fees is quite high.

After pointing out some of the potential disadvantages, let’s move our focus on the benefits, shall we? For one thing, there is the fact that you can set up your account online, without necessarily having to go to a physical bank.

Concurrently, transferring money from your U.S. bank account to your Canadian bank account is effortless using CIBC Online Banking. Another thing that may be of interest to you is the compatibility of the account with Apple Pay.

3. RBC Georgia
Our list of Canadian banks in the USA continues with RBC Georgia whose prerogative is to allow you to simplify your finances, so to speak. This bank enables you to set up an account, or get a U.S. credit card, U.S. loan, U.S. mortgage, depending on what you need. In order to set up an account, you don’t need a U.S. address, as your Canadian address will be just enough. Plus, you don’t need to provide a Social Security Number. However, you should have an account at RBC Royal Bank in Canada.

At the same time, a great advantage provided by this bank is that you can pay your bills in a matter of seconds – whether you’re in the USA or you’re in Canada. In addition to that, considering that you have to transfer money, this is made readily available and accessible through RBC online banking. You can do this free of charge, and the best part is that you can transfer money from your Canadian bank account to your U.S. bank account.

It would be safe to say that this bank aims at making life easier for Canadians living in the U.S. With that in mind if you’re traveling to the U.S. and you want to save some money on foreign exchanges, RBC bank is worth considering. Concurrently, this bank outlines that the staff is expressly dedicated to helping foreigners comprehend the differences between the Canadian and the U.S. banking systems. With the Premium Checking Account, you no longer have to worry about foreign transaction fees.

4. Desjardins Florida
Desjardins Bank allows people to make day-to-day transactions really easily. Concurrently, it does this at a low cost. In case you become a member of a Desjardins Caisse in Canada, there are many advantages you’d benefit from. Simply put, when you’ll leave for Florida, your account will already be open. If you want or need to, you have the possibility of transferring money in advance. What is more, you will already have a Desjardins Bank debit card.

To open an account, they require a valid photo ID and your passport. Nevertheless, in order to have an account, you should note that they ask for a minimum, which is to be paid to Desjardins Bank via a funds transfer.

Depending on the type of account you are setting up, the required sum of money will differ. Online banking is really convenient as well, enabling you to make transfers between different accounts, check your balances on a regular basis, pay your bills, assess your statements, check past transactions, and so on.

5. NatBank by National Bank
If you want to open an account for your savings or to be able to make transactions, Natbank can assist you in this respect, as well. Having a bank account here comes with the following benefits: access to more than 1,200 ATMs in Florida and other U.S. states, e-statements, and online banking.

Depending on the type of account you want to set up, the specifications will differ. This is why it is better to contact an advisor to find out more information about the requirements you should meet for opening an account.

6. Chase
Chase banking makes it very easy to open a bank account in the US. There are more types of accounts, and you can pick the one that addresses your specifications the best. In order to set up an account, though, you will need an SSN or your driver’s license or state ID. At the same time, just as in the case of other banks, you have to facilitate your contact information. Note that there is a minimum deposit required for opening an account with Chase.

On a different note, if you’re studying in the US, you might qualify for getting up to five subsequent years of $0 monthly fees. Once you have opened a bank account with Chase, you can make transactions from almost anywhere, via your tablet, phone or computer, not to mention that there are 5,100 branches nationwide.

7. TD Bank
And lastly, another bank worth including in our list of Canadian banks in the U.S. is TD Bank. There are three types of accounts you can choose from – namely TD Simple Checking, TD Convenience Checking, and TD Premier Checking. For instance, in the case of the TD Simple Checking, there’s no minimum balance required, and there is no specific low monthly maintenance fee. What are the steps that you should follow for opening an account?

You have to select your primary residence. In case your primary residence is in Canada, you can work with the TD Bank based in the U.S. as Cross-Border customers. With that in mind, even if you’re in Canada, you have to pick the closest bank location to you. After doing that, you can proceed with the online application process, which is to the point and prompt.

You must provide your passport or Nexus card number. In addition to that, you have to supply a second form of ID. Your contact information should be included, as it is logical, and, of course, your source of income. You might be required to answer a range of questions in order to verify your identity. However, this won’t impact your credit score or anything of the kind.
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Pekelo · Apr 2, 2022

ElCubano said:
In the late 90's the internet connected the world, today it does much more than connect the world.
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Nope, it still just connects the world. your analogy is dead on arrival.

NoahA · Apr 2, 2022

ph1l said:
https://wise.com/ca/send-money/
View attachment 281626
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I love how it says "should arrive by April 5".... hahahaha

deaddog · Apr 2, 2022

ph1l said:
If you are Canadian but don't want to use a bank account with "Canadian pesos" and your Canadian bank won't let you send your USD by bank wire (SWIFT), you might be able to open a bank account in the U.S. (doesn't look trivial to do though)
https://www.stilt.com/blog/2019/03/list-of-canadian-banks-in-usa/
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Done that. Plus have a US dollar credit card that I can use while I'm there.

Bitcoin might have been simpler but it's tough to get us old farts into anything new. I'm all for change as long as I don't have to do anything different.

PoundTheRock · Apr 2, 2022

A dumb majority is too emotional about investing in Bitcoin. Shit, throw 10K in a crypto account, and if it does get to $4.8M, you've made a million bucks.

HODL.

ElCubano · Apr 2, 2022

Pekelo said:
Nope, it still just connects the world. your analogy is dead on arrival.
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think of all the things that have evolved and spun out of what once was just AOL chat rooms and porn sites. No it isn’t dead on arrival. No one could have ever imagined what unfolded, sorry I remember it clearly and witnessed it first hand. You’re like the poker player working with hindsight information.