If you happen to ask a crypto bro why they’re in crypto, they could say one thing about monetary freedom.
However 99% of the time, their actual reply is quantity go up.
Which is not dangerous. Get yo’ bag.
However now and again, we’re reminded what crypto was actually made for. And at this time’s story is a kind of instances.
Over the weekend, Thai banks froze 3 million accounts suspected of being “mules” for scammers – and imposed each day switch limits on everybody.
Digital Financial system and Society Ministry secretary Wisit Wisitsora-at stated the suspensions are solely short-term and will probably be lifted as soon as checks affirm no wrongdoing.
Now, this complete factor occurred in response to a rise in on-line scams which have drained an estimated 6B baht (~$189M) from victims over the previous 12 months.
👉 On one hand, yay, combating scams!
👉 On the opposite… keep in mind, these weren’t confirmed rip-off accounts – simply suspected ones. Which means, harmless individuals and companies misplaced entry to their very own cash, too.
Which is not honest.
Hmmm… if solely there have been a system that mounted this…
🤔🤔
Lemme introduce you to one thing known as Bitcoin.
Now, to be honest, Bitcoin would not cease scams – these undoubtedly exist in crypto too.
However it does cease harmless individuals from shedding entry to their cash due to “suspicion.”
If you happen to maintain your Bitcoin in self-custody, nobody can freeze it. There is no central authority with a kill change. Transactions are peer-to-peer – no financial institution approval required.
The trade-off? Absolute management means absolute duty: no reversals, no bailouts, no buyer help to name should you mess up.
Principally, with banks, you belief establishments. With Bitcoin, you belief your self.
Select your fighter 🥊
Now you are within the know. However take into consideration your folks – they in all probability do not know. I ponder who may repair that… 😃🫵
Unfold the phrase and be the hero you understand you’re!
