//This is why I don’t give a fuck about this 10-month bear market.

This is why I don’t give a fuck about this 10-month bear market.

At the end of 2017, I started considering to leave my home country (France, 60% tax on personal crypto gains but claiming to become the first “ICO” hub, LMAO) to a more crypto-friendly country. I had just been graduated, I was 23 yo, so it was now or never. I was considering Singapore, 0% tax, great blockchain ecosystem, etc. But fucking high cost of living and far from France.And then, I found this on Reddit. Portugal paradise, 0% tax on personal crypto gains, friendly regulation for a French graduate in Finance. Perfect deal. I found a french lawyer and a french fiscalist based in Lisbon to manage every part of the process. I launched a blockchain consulting start-up in Portugal and found a fine place to live.My lawyer recommended me a portugueuse Bank, BCP Millennium. The banker speaks English and French, so it was great. When I first met him, I told him about crypto. He told me “No worries, BCP Millennium will never block a transfer from a cryptocurrency exchange”.I have been working for a French blockchain start-up for 6 months, I have signed contracts, invoices issued by a portuguese accountant, everything. 3 weeks ago, the French start-up made a transfer to pay for my services. BCP Millennium compliance service asked me to justify this transfer. I guess it’s European regulation against money laundering so ok, I sent contracts and invoices related to the transfer to the compliance service. No answer, the transfer has been denied, like WTF. The bank is not even able to tell me why. I tried to make a transfer from my portugueuse account to my french account, BCP Millennium denied the transfer too. I have 0 control on my fucking money whereas everything is perfectly legit. Banks are really a shame. I met the banker many times, but he can’t solve this issue as it’s the compliance service responsibility. 3 fucking weeks and nothing yet.So guys, maybe blockchains are not scalable enough for now. Maybe PoW/PoS have negative aspects. Maybe current blockchains are too centralized. But guys, the bank system is archaic as fuck. It’s a shame to have to trust them with our own money, it won’t last for long.

At the end of 2017, I started considering to leave my home country (France, 60% tax on personal crypto gains but claiming to become the first "ICO" hub, LMAO) to a more crypto-friendly country. I had just been graduated, I was 23 yo, so it was now or never. I was considering Singapore, 0% tax, great blockchain ecosystem, etc. But fucking high cost of living and far from France.

And then, I found this on Reddit. Portugal paradise, 0% tax on personal crypto gains, friendly regulation for a French graduate in Finance. Perfect deal. I found a french lawyer and a french fiscalist based in Lisbon to manage every part of the process. I launched a blockchain consulting start-up in Portugal and found a fine place to live.

My lawyer recommended me a portugueuse Bank, BCP Millennium. The banker speaks English and French, so it was great. When I first met him, I told him about crypto. He told me "No worries, BCP Millennium will never block a transfer from a cryptocurrency exchange".

I have been working for a French blockchain start-up for 6 months, I have signed contracts, invoices issued by a portuguese accountant, everything. 3 weeks ago, the French start-up made a transfer to pay for my services. BCP Millennium compliance service asked me to justify this transfer. I guess it's European regulation against money laundering so ok, I sent contracts and invoices related to the transfer to the compliance service. No answer, the transfer has been denied, like WTF. The bank is not even able to tell me why. I tried to make a transfer from my portugueuse account to my french account, BCP Millennium denied the transfer too. I have 0 control on my fucking money whereas everything is perfectly legit. Banks are really a shame. I met the banker many times, but he can't solve this issue as it's the compliance service responsibility. 3 fucking weeks and nothing yet.

So guys, maybe blockchains are not scalable enough for now. Maybe PoW/PoS have negative aspects. Maybe current blockchains are too centralized. But guys, the bank system is archaic as fuck. It's a shame to have to trust them with our own money, it won't last for long.