The Cryptocurrency end is near!
Sound the alarms fellow steemians!
Recently, some users have tried to send funds from a Portuguese Bank to Coinbase, and we were presented with the following message:
The intended transfer is destined to Coinbase UK in Estonia, which is an entity that deals with digital currency and is not regulated in Portugal.
As such, the bank is not authorized to make transfers to that IBAN.
Well, well... The Banks are quite a bit afraid of cryptos aren't they?
Why can we not transfer our own money into what we wish?
They sure don't stop us from paying our taxes.
Oh come on guys, that's no biggie, you still got TenX or Bitwala or Xapo to withdraw money!
We would, if Visa wasn't being severely pressured into cutting out those handy tools.
A couple of days later from the bank incident, we had these notices via e-mail:
So our banks don't let us transfer money directly into Coinbase, and two of our sources of crypto to fiat withdrawl were cut off.
And thus, a couple of our portuguese fellows are worried quite a bit.
And as we explained in one of our first posts - we saw this coming.
You see, change is always met with resistance.
Real accomplishments, deep change is achieved not by panicking but by fighting back.
Imagine a Tug-of-War between us that wish cryptocurrency and blockchain technology into real-use cases and financial institutions and governments that see to keep things they way they are.
Now don't get us wrong, we are not saying that they are some sort of evil dungeon master and intend to keep us chained-up - But they seem to be contorting quite a bit with the idea of having "digital coins" being spent in the real world.
So TenX, Bitwala and Xapo have been disabled because of Visa, and some portuguese banks are cutting off the easy access to cryptocurrency - possibly in hopes that cryptocurrency dies off a bit.
But we at Primus Investing know different. This is just the beggining and not the end.
While access is becoming more difficult, people are now aware of cryptocurrency, of blockchain and smart contracts and of the new possibilities that they entail - and people will fight for what they believe in.
Cryptocurrency isn't going to just up and vanish.
It is on it's way to everyday use as we speak - and if you wish to help it grow, spread the word, keep supporting projects you believe in and keep fighting during these hard times.
If nothing else, let us reach 2020 and see if John McAffee's prophecy is true - lest he miss one very necessary body part.
Tipping jar - help us see if McAfee keeps his promise!
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This isn’t the end! It’s the war we all knew was coming. Sadly much of newbies don’t understand bitcoin was started to put banks outta Biz! Not to be a trading item for future and wall street markets
True enough. We need to adapt and keep developing and supporting cryptocurrencies!
Agreed!
I just wish many newbies understand what these were created for! I often wonder we’d of been better off being underground more years and not have the exposure we did in 2013
Totally agreed with that! most of the top 100/200 cryptos atm need a lot more development and time to achieve its true potential! And sadly with all this exposure, the prices are ramping up leaving more and more people trying to enter simply for pure profit and not the true potential of the technology making this a great market for speculation and not disruption as its true intentions!
Crypto isn’t near end. That is for sure! It just might not be what others thought it would be
It sure isn't, as long as we all keep helping and contributing with information and developing solutions.
As long as Wallstreet thinks they can get a piece of the action the US won't try to squash crypto.
You just might be right. Interesting line of thought! What do you base your claims on?
I'm basing it on the SEC's decision to allow bitcoin futures and moves by the IRS to tax gains from bitcoin. Perhaps that's a leap but to me it seems the United States just wants to regulate and tax crypto. Not ban it.
Absolutely! In Europe, it's the same way at least for the European regulatory body. The problem is some smaller financial institutions are simply ignoring that there is no actual law atm against buying or selling crypto, but still censure most of the transactions that are being sent to bank accounts related to exchanges like coinbase, or Gdax. We heard that even some bank accounts were closed simply because they got transactions that came from trading crypto's and that's the actual problem right know. There is no law banning anything but they close accounts and block transactions or even worst they freeze assets simply with the premise of the AML laws and regulations stating that the account was used for laundering money.
i upvoted your post. will you upvote this post? https://steemit.com/news/@a-a-a/l-a-marzulli-ufo-s-are-real