I just spent 3 weeks trying to wire money to my wife, and my bank held my money the whole time saying "we are trying to verify identity/purpose of transaction", all the while earning interest with my money. I had no way of cancelling the wire transfer while they were investigating.
If I had sent a transfer via BTC or a stablecoin like USDC, the transaction would've taken at most 1 hour, and there's no middleman to freeze my funds.
Self custody and blockchain are here to stay because fuck the banks for being overbearing middlemen. As soon as people realize how much freedom they have with crypto, it's game over for banks.
Shibenaut t1_j1zcfak wrote
Reply to Crypto and blockchain are not the technology of the future – prove me wrong. by Aquillyne
I just spent 3 weeks trying to wire money to my wife, and my bank held my money the whole time saying "we are trying to verify identity/purpose of transaction", all the while earning interest with my money. I had no way of cancelling the wire transfer while they were investigating.
If I had sent a transfer via BTC or a stablecoin like USDC, the transaction would've taken at most 1 hour, and there's no middleman to freeze my funds.
Self custody and blockchain are here to stay because fuck the banks for being overbearing middlemen. As soon as people realize how much freedom they have with crypto, it's game over for banks.