5 Things About Bitcoin The Banks Don’t Want You To Know
Banking fees are regressive. This means it hurts the people at the bottom the most. Don’t believe me? Ask your bank about the benefits of being a high-net-worth client. Here are some things the banks would rather keep to themselves.
Am I the only one who felt like throwing up when I heard that JPMorgan reported record revenue for the first quarter of this year? The bank’s profits increased 53% from the same quarter last year. Meanwhile, we consumers are paying higher interest rates for cars, home loans, and everything else. Supposedly there was a banking crisis. Of course, the crisis only affected the smaller banks and once the nuisances were eliminated, the government came in to bail everyone out.
Now that the crisis has been averted and banks get another concession and longer leash to take unnecessary risks, we can all get back to normal life. The only problem is: how many more “get of jail free” cards to the banks have left? Every crisis lowers banks’ credibility and soon it will get to a point where even the most ignorant will have to take notice.
Luckily, a decentralized alternative exists. Bitcoin was created in response to the outsized risk…
