"I am sorry, we no longer accept cash" - Bank Teller, Chase Bank in San Diego
Ummm...excuse me? Perhaps there is some mistake and I had walked into the Chipotle next door. As I stood there trying to make a deposit, the bank teller notified me that as of February, Chase bank had a new policy that they would no longer accept cash deposits into someone else's account. Even a few weeks later, I am still trying to wrap my head around this concept. Banks….don’t...accept….cash?
This wasn’t my first negative experience with a bank for the day. I had walked into my local Credit Union at 3:30pm and requested to complete a wire transfer. They informed me that it was past the deadline for that day, I would have to come back tomorrow. In an attempt to avoid spending more time at the bank, I asked if I could do all the paperwork and have it go out tomorrow. “No, you can’t do that. We don’t have the systems in place for that. You will have to just come back tomorrow”. "Tomorrow" was actually Saturday so I would really have to come back on Monday.
Annoyed, I decided I would just go make a cash deposit. Easy, right? Wrong. There was a line of 10 people to see the bank teller so I figured I would just go to the ATM. The transaction I needed to complete was for $1,100 but I was notified at the ATM of my withdrawal limit of $500 per day so, back inside. After 20 minutes of waiting in line, I was finally able to access my money after filling out a piece of paper. And with this accomplished, I was finally on my way to Chase bank.
It’s 2014, are we really still using pieces of paper?
Just yesterday - the BS brought to you the information about the 700 TRILLION dollar industry ... the Financial Derivatives Industry...... Let that sink in.... 700 TRILLION that is being BET on the system itself..... like that GREECE who is in a depression, will be able to pay it's bills in Euros....same exactly for Spain..... and Puerto Rico.....(in dollars of course) .... and Argentina already in default.... and Detroit and the coming spasm about retirement systems...... So, YOU trust the POLITICIANS to work all this out right? Personally, I'd say only an idiot thinks all this will be fixed above by Governments and Politicians. It almost all broke, the system itself, in 2008 and barely was pieced together......... at this moment only about 6 billion dollars has escaped the government money - into the virtual currencies like Bitcoin, Litecoin, Dogecoin and others. 90,000 merchants are already taking Bitcoin. They take it, turning some into dollars and saving some bitcoin, because ultimately they know MANY spikes in `prices' of Virtual Currencies is down the road. Much like what initially happened when THE INNOVATORS realized what was up and the EARLY ADAPTERS came on-board. I'd personally say... that may not be too far away at some level. And, eventually the virtual currencies will probably BUY each other UP and out of business.... with only a few surviving. Smaller governments may begin to use the alternative currencies rather than be subject to the whims of the BIG fake money governments. Usage will increase, not decrease. Now, that does NOT mean that TPTB will put up a valiant fight for a bit of time and I hardly think the Military Industrial Complex is going anywhere soon.... but, THEY will eventually use the virtual currencies too and be restrained perhaps. A new dawning could be months, or it could be decades - one thing is SURE... the value of the `marketcap' of Virtual Currencies is going to grow exponentially. And when that period comes, when the market cap goes from 5 billion to 500 billion (compare that to the 700 trillion FAKE dollars in ONE industry) and then from 500 billion to 5 trillion or 50 trillion (the beginnings of a NEW WORLD CURRENCY will be at hand)...... what do you think a ONE Bitcoin (infinitely divisible) will be worth? Do you really think the MSM is going to tell you to invest? The ONE that you could have bought TODAY for about 400 dollars? Or, perhaps you think the Dogecoin (format - 3rd largest market cap) is going to be THE COIN in the future.... did you know that you could buy 10's of thousands of those TODAY for a few bucks.... penny stocks gone wild. There's smart folks that think Dogecoin could go to a dime or dollar a coin. There literally is a story behind all 150 virtual currencies. Barfstew is going to NOT leave this story behind and let it be ignored by the MSM. The BS is going to vastly increase Bitcoin stories and more.... this will be as much of a focus as sex, paranormal and politics. I hope you are ready for the ride.... and seriously, make today the day to get involved at some level. So, today - in that regard I bring to you a guy I've seen on CNBC who faces down these STUPID folks who still believe in government money and not people currency. I will bring much of his recent posting...but dig in for more at the link.
I had lunch with a good friend of mine over the weekend. He is a well respected entrepreneur and has been an informal mentor to me over the past couple of years. He was actually the first person I ever told about my idea of building a Bitcoin investment fund and I often go to him for advice on management, growth, and the general stresses of entrepreneurship. He made his fortune from real estate and private lending and has never been involved in the technology side or high stakes world of venture capital. I have always felt it’s important to surround yourself with a mix of mentors and he definitely fits into the category of ‘traditional’.
Half way through the lunch, he finally asked me: “Brett why are you still doing this bitcoin thing? The price has dropped from $1100 to $300 and it’s quite obvious it’s in a major decline.”
I was shocked. I thought this guy was smart, what was he talking about!? Then I realized this is exactly where the problem is with Bitcoin. People are too caught up in only looking at the price and the daily value. This guy is smart but like many others he was just looking at the value of Bitcoin because thats all many of us focus on. Since we are a long only bitcoin investment fund, our entire business essentially depends on the value of Bitcoin but it doesn’t depend on the price today, next week or even next month. When we talk to investors who are considering investing in Bitcoin, we tell them this is a long term investment and will likely be binary. It’s going to be a roller coaster full of ups and downs over the upcoming years but eventually, we feel that the price will be much, much higher than it is today.
So, what am I looking at that my friend and so many others are missing? I am looking at the infrastructure being built around the Bitcoin ecosystem. I am looking at the 90,000 merchants accepting Bitcoin, the major brands like Expedia, Dish Network, and Dell computers.
Please read the full article at the link AT THE TOP. However, to get FREE Bitcoins to start you off - click the link below please. The BS would not steer you wrong.
No, I'm not done yet Barfsters. This is a chance to be more than Barfsters... this is a chance to be Barf-Stars. You can begin by putting your toe in the proverbially cold waters of change. As I have done... buying about a dollar a day in Bitcoin for the past two months (changing some into Dogecoin) in chucks of 3 to 5 `cents' of a bitcoin 0.05 for example. Bitcoin can normally be bought at Coinbase in units as small as 0.001 (about 40 cents worth).
So, I now `own' about 0.21 Bitcoin (today worth about 80 bucks) - I certainly will not stop until I have at least ONE Bitcoin in full. (Assuming no spike in prices.) And, what I'd like to do is guide you into Bitcoin easily as I have been doing on The BS for the past two months.
First, by pure chance my first purchase was with who PayPal is doing business with - the company is called COINBASE - and IF you ultimately purchase 100 dollars of Bitcoin from them - both YOU and I can make 5 EXTRA BITCOIN dollars value if you use my `affiliate link'. That's right YOU get 105 dollars for 100 ultimately (I also have to buy 100 dollars worth and will cross the 100 dollar barrier tomorrow). You can buy yours in chunks too - say 20 bucks worth at a time - when it crosses 100 we both get the 5 dollars of Bitcoin.
So, please, and for 5 extra dollars - check out Coinbase using my Coinbase Affiliate Link and get familiar. As I've mentioned before on The BS - this is serious - you need to give bank account info to BUY Bitcoin. Coinbase CAN be trusted. All that said, in a matter of minutes you can be buying Bitcoin. You will feel `advanced' when you do - like you are part of the new world beyond governments controlling money.
Finally for today - I've pushed two other links at you over the last few months in regards to Bitcoin (as you know). One is Satoshibet where you can use Dogecoin, Bitcoin or Litecoin.... to gamble anonymously. (Play for FREE first to test the waters I suggest.)
The other link is for Coins-E an `exchange' where you can swap Bitcoin for many virtual currencies like Dogecoin and about 20 others. I've been `playing' with about 0.10 Bitcoin at Coins-E for the last month... mainly buying Dogecoin (some KarmaCoin) - I have over 69,000 Dogecoins.
Obviously, nearly everyone who has crossed the digital currency threshold expects it to GROW. There are places on the internet GIVING AWAY DOGECOINS. (All you need is a Dogecoin address.)
Now, don't START with this last link - start with the first one. This giving away of MONEY is not all that big a deal - a Dogecoin is worth about 0.00025 of a US Dollar each. Yes, a fraction of a penny. This is how I own 69K of them (out of 94 billion available in the world).
Finally - without all the ABOVE - I'd like to ALREADY thank the MANY MANY MANY of you that have went to Satoshibet and signed up to play (over 300 via my websites in 2 months) and the person or two that have ALREADY bought from my Coinbase Affiliate Link too.
A BIG THANKS
As they used to say at the horse racetrack about 2 minutes before race time - DON'T GET SHUT OUT!