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jhonysins (49) · 7 years ago

great information nice post thanks for sharing sir...resteemed

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elementm (61) · 7 years ago

This isn't quite the same (because I don't think Payza counts as a bank) but I'm trying to get the word out. Payza pretends to be cryptofriendly but the transaction they said would take 24 hours took over 50 days and they gave me less than half the value of my Steem. I posted about it.

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crypto-maven (55) · 7 years ago

That's still shitty service. Sorry you had to go through that.

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1 vote

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elementm (61) · 7 years ago

Thanks. One day there'll be competition to give the best possible service to crypto users but that day's not today.

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dylen (46) · 7 years ago

Luckily I jump onto this post and get more knowledge. It is such a scary thing to handle even they are just the employee of the bank can get real though to deal with If someone don't have any other way to handle such problems. Thanks have a nice day.

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cryptotaxadvisor (32) · 7 years ago

First, I am going to trust that you have your ducks in a row about recording people without their knowledge, but I would caution you to double check your law before you go posting those recordings. California is a two-party consent state, and I just don't record people because I don't want to have to do all of the legal study to know what is correct.

I hope that thing about the $5,000 per diem is actionable. Would appreciate a cite on that, but am looking forward to researching it. It grabs me more than the recording issue.

I may have to transfer funds from Coinbase back to my bank. Not looking forward to that. I have had my account at the bank for over 18 years, and don't want it closed with no warning.

I do realize that much of this goes away once we can easily spend our crypto, without having to first convert it to US Dollars, or some other fiat currency.

While I believe you are right on about not putting any crypto words in the name of your business, I feel I will have to stand my ground if I start a crypto tax representation division in Los Angeles.

Thank you for this post. I am reposting tonight.

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gokulnk (63) · 7 years ago

Close your account with a message stating "We don't want to bank with any entity who doesn't respect their customers and opposes cryptos". The USP of cryptos is it opposes financial censorship. So when banks does things like these they are censoring you and it only accelerates the adoption of cryptos as more people realise that they really don't own their money in the current banking system.

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dominicbasulto (42) · 7 years ago

Hope all is OK now. A cautionary tale, to be sure. Great advice for entrepreneurs in crypto, thanks for sharing.

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chronocrypto (73) · 7 years ago

This post has received a 88.24 % upvote from @chronocrypto thanks to: @crypto-maven.

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zulfikrizal (35) · 7 years ago

Very good picture and your story

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themobilewriter (48) · 7 years ago

Banks are doing anything under their control to hinder the growth of cryptocurrencies. They are trying to create road blocks for people investing in crypto or dealing in it.
Just yesterday i heard that a bank named CITI has banned the use of their credit as well debit card for buying crypto currencies.

It just show their fear of loosing business and nothing else.

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teenovision (52) · 7 years ago

Hi,
Nice to read about you and you posts and views. I am into steemit from august 2017, I am interested in photography and I am also into crypto trading and investing,I have followed you so you can also follow me. Let us all join hand and work with one common objective to make steemit reach to great height.
Best Of luck
Teenovision