Canada is now allowing banks to freeze accounts at will without any legal oversight.
This means, that at the press of a button, they can ruin someone’s life overnight. In an instant loan payments will be missed, subscriptions cancelled, credit unavailable, all because of the power granted to the banks.
**This is a great time to advocate for cryptocurrency as a way to keep these banks from accidentally or intentionally holding your money hostage.**
To those who say “It’ll only affect a certain group I disagree with”, with anything this broad and with no accountability, do you think they will err on the side of caution or will they start blanketing this policy far and wide? Imagine for a moment that the mean neighbor two doors down realizes they can screw you over by claiming they saw you at a protest, are you willing to risk that future?
38 thoughts on “How are we not talking about the great crypto opportunity there is in Canada right now?”
I’m Canadian and most of my extra savings are now in crypto. Fuck banks
Except this whole sub has been filled with this news? What do you mean no one is talking about it?
You don’t own crypto if it’s on an exchange. Similarly, you don’t own the money if it’s in a bank. So be your bank my man
Seriously the fact that it doesn’t require a court order, or any probable reasoning is massively messed up.
I see the use in freezing accounts where justification makes sense… but when done in this way, yeahhhhh this is one of the things crypto is good for helping us stay safe from this form of abused centralisation.
Couldn’t the exchanges do the same thing? How could you transfer crypto if the major exchanges shut you out?
This is one of those events I’ll always mention when I’m advocating for Cryptocurrencies. The horrors of centralisation…
People denying the slippery slope in this measure are dellusional and mostly just blinded by their ideological disagreement with this one protest.
If the measure had come against a protest of their liking or it was a government they dislike pushing it they’d be yelling their lungs out invoking nazi regimes and extermination of dissenters. Imagine Trump saying that they’d freeze the bank accounts of BLM protesters.
In Europe, by the way, you can have your bank accounts frozen just for not paying a traffic ticket. So as usual, those commenters are either blind partisans hating on what they’d been told they must hate (and the level of rhetoric dehumanization against these protesters, *by the top authorities of Canada themselves* is something else), or just good-faith Americans who just haven’t been around much and should spend some time abroad to appreciate lots of daily freedoms they take for granted.
As OP says, crypto was invented for this, and this is a golden opportunity to do some proselitizing.
The Canadian situation is being taken out of proportion and context.
Is it illegal to gather and protest in Canada (genuine question) … blocking a road in the US was seen as a form of non-violent protest and civil disobedience when BLM was shutting down highways 2016-2020 … the people shutting down roadways were fined and typically recieved community service, not labeled terrorists.
Either I’m missing some information, or the rhetoric is as hyperbolic as it can get.
Because people are political. They see nothing wrong with this because “those people are in the wrong I’m in the right”. They completely miss the point that the wrong in governments eyes can change at a whim. Made a post about it a good chunk of comments are saying they agree or that I’m in the wrong even though I’m neutral to the politics
However all that being said we can’t allow a gov to go dictator mode whenever they want. Because if the gov abuses its powers like that won’t matter if you have crypto or not they will yeet you into jail or worse. Not saying Canada is about to shoot its people but we should fix the gov then the monetary system
The fact that they can cancel people’s accounts should terrify everyone left, right and center. This isn’t a Canadian issue. This can’t be allowed in the western world.
I know everyone loves Bitcoin, but Im not sure it’s good enough for this situation. This is why we need Monero.
We are. We are just suppressed and labeled crazy for believing what we do.
I would be cautious around your phrasing, it’s not a “great opportunity” for anything. What’s happening there is tragic.
I love the last sentence. Confidence in institutions. I dont care about the cause. Government shouldnt dictate whether people get access to funds.
The Law of Unintended Consequences
When they shut down bank branches to move people to online services they call it “nudging” perhaps this will accelerate the move to crypto if they affect enough people… bullish!!
Problem is most people here (and in general) don’t care about decentralization and freedom, they just like crypto because of the gains and are ok with the fact that governments can do this. It’s really disappointing.
I don’t care about these dumbass truckers
>Imagine for a moment that the mean neighbor two doors down realizes they can screw you over by claiming they saw you at a protest, are you willing to risk that future?
If you think that’s what’s happening here then I think you do not know what is happening here.
Crypto or not its money coming in from 55percent American donors. We don’t need a January 6 here sorry asshats.
The government has already recently been caught illegally spying on Canadians… they know who is where at all times if you have a cell phone. And they abuse your rights daily , what the masses don’t know could fill a stadium.
I don’t see crypto getting wrapped up in the political ideologies of idiots as a great opportunity. I like people dragging their stupid political agenda into this sub as much as a nice kick in the testicles.
Tell me you’re American without telling me you’re american:
I mean honestly, what did people expect to happen? Did people really think that the govt would just continue to do nothing for several more weeks while a vocal minority continued to receive funding from foreign countries to have a temper tantrum with semi trucks?
I’ve been chatting and it seems the consensus is that although this movement was originally grassroots, non-violent resistance, it’s now been hijacked by anti-Vaxxers, some alt right folks and people that just don’t like Trudeau.
I don’t think people want cryptocurrency to be correlated with that.
But that’s the point of something like bitcoin – it will/can not censor anyone.
Stupid as the truckers are, this does set a very uncomfortable precedent
You want to normalize and legitimize crypto for the masses by hitching you wagon to what are largely perceived to be a bunch of fucking moron anti vaxer clogging up a city?
Lol… This sub is the most braindead place on the internet… I love it.
Questioning the state makes you a terrorist. How very Marxist of Canada
Yeah, and Monero is getting attacked. Shit is going down.
Cryptos are now at the beginning of the things that banks are afraid of
First they came for the socialists, and I did not speak out—
Because I was not a socialist.
Then they came for the trade unionists, and I did not speak out—
Because I was not a trade unionist.
Then they came for the Jews, and I did not speak out—
Because I was not a Jew.
Then they came for me—and there was no one left to speak for me.
Just short term against terrorists.
Imagine getting punished for protesting in a first world country!
🙈 this suuuuuucks. Not down with this BS.
Cheering on the funding of armed terrorists (see Alberta blockade arms raid) is not doing any favours to crypto. Get ready for a massive crackdown. Sometimes crypto fanatics are the worst enemy of crypto adoption. Bears incoming for 2022.