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| Topic | Cryptocurrency is amazing. Can't wait for the day that it's mainstream |
| Sad_Face 03/28/21 4:40:42 AM #36: | 1337toothbrush posted... This topic brilliantly demonstrates how crypto fans praise cryptocurrencies for doing things that aren't new. Sounds like you haven't been in a position where you had to fight with your bank over transactions they flagged as fraudulent. I'm ready to look for another bank honestly. The other boon comes from being able to jump between different applications and not needing to "sign up". Just sign a transaction with your wallet and you're good to go. Banks are quaking in their boots. They're going to have to fight to survive when crypto hits its stride in adoption. The decentralized world is super seamless and has zero hassle. To give an example, I applied for a loan with a bank and they wanted multiple cheque stubs, a letter from my company stating I worked there, and a bunch of IDs. It took a few weeks to get verified for a $3K loan with no credit. With crypto? It took me 10 minutes to get a $1000 loan, but I had to overcollaterallize and put up essentially $2K (it's lower than this, but this is cleaner) worth of assets. I had a good 60 days to pay it back and it cost me $13 in fees and interest in total. This was back in 2019, I'm curious to see what kind of ways they'll make loans more accessible to the common man in the crypto world. --- ... Copied to Clipboard! |
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