Hi my fellow Steemians how are we all doing today? I never post or write about banks or much about crypto currencies unless I can document it in relation to real life experience. As I am not an economist, accountant or financial consultant I rather talk about things that I know about or have experience in. Last night I spent the evening with my 20 year old nephew and his friend we ate, drank and chatted about most things that concern most young people music, relationships, careers and finance.
What really astonished me about these young men is that they are aware that UK banking is changing and they informed me that the way their grandparents banked is totally different from the way they are banking . I agreed with them it was true because the banking process is different from the days of my parents how they used and accessed their bank accounts. Bearing in mind that my parents are African and our ancestors would barter exchange good and services in which they used gold, salt and cowrie shells as currencies of exchange. How far away we are from our ancestor in the ways in which we use currencies now and the evolution of commerce and finance since those days it's truly a time for change.
I wear the cowrie shells in honor of my culture and my ancestors least we forget.
The banking system in only 2 generations in my family looks so different for our young people, in fact our young people are spoilt for choices with the introduction of crypto currencies which could leverage their money and enable them to acquire vast amounts of wealth if they make well informed investment choices.
https://www.raconteur.net/finance/is-blockchain-the-strongest-security-link
My parents are dead so I explained to them that my parents would get paid around £2 or less a week when my father arrived in London in the early 50s and to get a bank account was almost null and void for him. Mum arrived a few years later and mum said they only had bank accounts in the late 60s as dad got a job at Ford's motor company enabling them to get a mortgage which they saved up the deposit mostly through a system called PARTNER or OSUSU. Where family and friends in afro Caribbean communities put an equal amount of money in a kitty each week or month, each month a member would be selected from names in a hat until every member collected there hand the same amount they put in over the year in a lump sum. This money would enable them to put a deposit down on a mortgage for a house, car or to buy land back home as it was really difficult to secure finances when they first arrived in England.
Moving swiftly into 2017 my nephew pointed out that most London high street banks are shutting down and if they are opened they only have a few members of shadow staff and services are performed by ATM’s and bots’ eventually. As you can do everything online digitally and via your smart phone banking to my father would have been like something out of a sci- fi movie. My nephew and his friend also informed me that they have been looking at various crypto currencies and he would like bitcoins for his birthday and Christmas present bearing in mind his birthday is on New year’s eve lol got to love him for trying. My nephew advise me that they don't respect banks as banks are not really in the business of making their customers much profit, they understand that the banks ethics are make the banks’ richer with profits and share a the minimum with its customers poor deal which they advise me is not cool. The youths reminded me least we forget how the financial institutes gamble with our money with disregard to our financial hardship pushing us deep into to debt.
With headlines like these appearing in the news and the press it's a wonder that younger generation in my family don't trust banks or bankers and they are embracing crypto currency and digital banking. My Nephew will also been joining Steemit as he is currently studying and preparing to start his Law degree he is eager to join and embrace the crypto space and community.
https://www.theguardian.com/business/2017/oct/02/bank-of-england-bailouts-rbs-lloyds
I got into crypto currencies due to the lies and instabilities of the Banking systems that have collapsed in the UK on several occasions leaving customers in financial stress and destitute whilst gambling with customer’s money daily. Receiving bailouts for behaving like common criminals without any reprimands surely I have to be a SHEEPLE or damn right stupid. See the link to this damning report today.
I researched all I could about Bitcoin, asked questions on Reddit listened on YouTube and found STEEMIT took the plunge this summer to invest in some bitcoin and a few others only small sums what I can afford to lose. I feel secure in the fact that I have control over my own investment that no bank can gamble with, it’s better to gamble on you; it feels good to know that I am my own bank by taking control of my own finance. Win or lose it’s my decision to make not a bankers and I am optimistic that the future is bright in crypto currencies and the block chain platform. Which the industry insiders are saying so I guess the corporations and government are just finding ways to tax and control bitcoin so I’m just going to invest and watch the circus China down 💪 the West to follow or not😆😆😆.
I think not I think we will have highs and lows but I have that great feeling that it will eventually only rise to greater heights and enabling people in developing countries to lift themselves out of poverty and economic success with platforms like Steemit. I say this with passion and tears of joy in my eyes THANK YOU STEEMIT and I know that this platform will change the lives of many people who really need it. It has really helped me with the wealth of information it’s awesome. But most importantly the wonderful people that I have networked with in such a short space of time and I know we will network to build the all the good we want to see in the world. Creating a wave of positive energy, of love that must spill through into real lives as we witness and experience daily on this platform. I LOVE STEEMIT THANK YOU UNIVERSE & YOU TUBE (where I first heard about this platform.
Comment tell us about how you got into crypto currencies and Steemit if you’re a newbie how easy it was to take the plunge we can laugh, learn and grow, resteem or upvote I would love to hear from my fellow newbies always good to get some advice from the top Steemians and crypto specialist we need you thanks love n light.
Reports source: - The guardian, Coin desk, raconteur.net
Images: - Google and authors own