- cross-posted to:
- [email protected]
- cross-posted to:
- [email protected]
The U.S. Treasury Department said on Sunday it would not enforce an anti-money laundering law that obliges millions of business entities to disclose the identities of their real beneficial owners.
I’m just telling you what I know.
I got into crypto because the 2008 recession threw a wrench into my 18th birthday. It was difficult to find a reliable bank and have a debit or credit card. I was desperate for any kind of financial independence at that time in my life when I should be, and sought crypto as a last resort.
At 18 you certainly weren’t borrowing to buy real estate, nor were you a customer for wealth management services. These were the things that hit (and sometimes sunk) banks and bank customers at the time. Are you saying you couldn’t find any bank or credit union that would give you a checking account with a debit card attached to it?
How did having cryptocurrency enable you to have financial independence? Besides few places accepting crypto for promotional purposes (remember when you could buy a pizza with bitcoin?), you couldn’t spend cryptocurrency on any of life’s needs that would allow you to establish yourself financially.
FFS. Go lecture my 18yr old self. I’ve grown up since then. I didn’t say it was the correct or best option. All I said is that I was desperate.
My apologies, it sounded like you were still defending that choice as a correct one for an 18 year old. Certainly won’t hold you accountable for your 18 year old self. I did equally (if not worse) stupid stuff in my youth.
I’m now asking about what lead to that choice, and what the value proposition of that choice looked like to 18-year-old you. As in, if you got into crypto as a replacement for a bank account for …reasons. Did crypto accomplish anything you wanted out of a bank account? Or was it “a bank is a money place and crypto is a money place, therefore crypto is a replacement for a bank”?