For those who ask a crypto bro why they’re in crypto, they may say one thing about monetary freedom.
However 99% of the time, their actual reply is quantity go up.
Which is not unhealthy. Get yo’ bag.
However now and again, we’re reminded what crypto was actually made for. And at present’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 Economic system and Society Ministry secretary Wisit Wisitsora-at mentioned the suspensions are solely short-term and will probably be lifted as soon as checks verify 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, preventing scams!
👉 On the opposite… keep in mind, these weren’t confirmed rip-off accounts – simply suspected ones. That means, harmless folks and companies misplaced entry to their very own cash, too.
Which is not truthful.
Hmmm… if solely there have been a system that fastened this…
🤔🤔
Lemme introduce you to one thing known as Bitcoin.
Now, to be truthful, Bitcoin does not cease scams – these undoubtedly exist in crypto too.
However it does cease harmless folks from shedding entry to their cash due to “suspicion.”
For those who maintain your Bitcoin in self-custody, nobody can freeze it. There is not any central authority with a kill change. Transactions are peer-to-peer – no financial institution approval required.
The trade-off? Absolute management means absolute accountability: no reversals, no bailouts, no buyer help to name when 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 pals – they most likely do not know. I ponder who might repair that… 😃🫵
Unfold the phrase and be the hero you realize you might be!
