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330 points beeburrt | 1 comments | | HN request time: 0.209s | source
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rwarfield ◴[] No.44002548[source]
We have normalized the treatment of the financial and payments systems as things that exist primarily to perform law enforcement surveillance functions. It's the same dynamic that leads to debanking of small accounts - payments firms exist on thin margins and the potential fines for inadvertently servicing a bad actor are stratospheric, so it's entirely logical to play it safe by refusing to service anyone whose profile looks even the slightest bit risky.
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ngruhn ◴[] No.44002616[source]
The alternate is crypto. That will service anyone for ANY reason.
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sabas123 ◴[] No.44002688[source]
Which is not necessarily a good thing.
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notpushkin ◴[] No.44002714[source]
But not necessarily a bad thing either.

If everything else fails, I know I can still have two things to pay with: cash and crypto.

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_Algernon_ ◴[] No.44002971[source]
This is a strange viewpoint considering that crypto is 100% reliant on some of the most complicated and high-maintenance infrastructure ever built by man: the internet.

If "everything else fails" the internet has failed, and crypto will be worthless. Gold will probably still have some value, unless shit really hits the fan.

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notpushkin ◴[] No.44003080[source]
We’re talking about different “everything else fails” scenarios. Basically, I’m concerned about my bank accounts being frozen (happened with my Revolut account for example).
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sofixa ◴[] No.44005139[source]
The solution for that is to have redundancy via multiple bank accounts, ideally in multiple countries.

Then nothing short of planning a serious terrorist act can get you kicked out of all accounts.

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1. notpushkin ◴[] No.44011253[source]
Ah, yes, the classic 3-2-1 method: three accounts in two different countries, one of them being an offshore. Yeah, I’m doing all that (not the offshore part... at least not yet).