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 unhealthy. Get yo’ bag.
However once in a while, we’re reminded what crypto was actually made for. And right this moment’s story is a type of occasions.
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 stated the suspensions are solely momentary and will likely 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 yr.
👉 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 fastened this…
🤔🤔
Lemme introduce you to one thing known as Bitcoin.
Now, to be honest, Bitcoin does 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 swap. 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 if you happen to mess up.
Mainly, 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 in all probability don’t know. I ponder who might repair that… 😃🫵
Unfold the phrase and be the hero you understand you might be!
