Posted on March 20, 2020
Corona-Endtimes – How to survive without a functioning bank-account?
Bitcoin will help you in this major crisis. But how exactly?
The corona virus crisis has shown us that the entire world can be paralyzed practically overnight. Air traffic suddenly stops, freedom of travel no longer exists, shops are suddenly closed, the state police protects even children playgrounds from “gatherings”. People should no longer go to their workplace and have to work from home.
The supermarket shelves are suddenly empty and customers are fighting over a few rolls of toilet paper. There are “totally unexpected” mass layoffs and the greatest economic crisis of all time is imminent.
In one swoop, everything is different.
So what to do if you’re stuck at home because of the corona virus. And what to do when suddenly everything, including the banking system fails? It would really be time to think about what, how and why everything is going the way it does. It is time to deal with important things in life that have always been happily ignored during the “good” times.
But how do I prepare for a new world in which there are curfews? Where the public order ceases to exist and eventually the FIAT money system collapses along the way?
Since the Greece and Cyprus crisis, everyone should know by now how vulnerable the banking system is in practice. Queues in front of the banks, frozen accounts, deletion of balances, ban on foreign transfers… With a minimum reserve of just 1%, the system starts to crumble already from looking at it. So what should happen with in in a real crisis scenario? And EVERYONE should be seriously concerned with the question of how he can manage his life when his bank account will no longer work as expected.
Fortunately, even before the crisis, there were a motivated 1% of cryptocurrency fanatics who were always well-informed about the fragility of the system. In fact, the necessary infrastructure has already been built up in recent years in intensive work. Secluded from the public. The answer to collapsing centralized FIAT currencies is simply called: Bitcoin.
Bitcoin does not have a central issuer that could collapse. It is decentralized, algorithm-issued money. No one can prohibit participation in the “system”. No one can block the accounts, no one can confiscate or artificially devalue funds. Bitcoin is THE crisis currency as it was designed from the start.
In this article I want to describe how you can use the existing infrastructure completely independently of the banking system. Please share this article with all friends and relatives. Because Bitcoin lives from participation and the community. A strong Bitcoin community is unstoppable, even in times of the highest crisis scenarios.
1. You need a crisis-proof wallet
Bitcoins are just a few numbers in the computer. You can generate a wallet yourself in 10 minutes. But the problem is that it has to be secure, protected against unauthorized access and, especially in times of crisis, you have to be able to access it at any time.
So what good is it to have the safest bitcoin wallet ever if you can’t get there because it’s buried in a secret hiding place deep in the garden? Or simply because the wallet-provider you are using refuses to give the coins back to you?
Therefore, it doesn’t help, if you have your coins lying around on the wallets of the major providers, such as Coinbase or Kraken. There, the coins are neither protected against access by third parties (Kraken etc. has full access), nor can you be sure that the provider will (or can) return you the coins. Even with the best intentions of the providers, any government can enact overnight a law that orders the immediate confiscation of all such crypto funds that are held by centralized providers.
With these thoughts in the background, https://Bitalo.de was created.
https://bitalo.de is explicitly designed for the highest level of crisis security. Only user-side encrypted wallets are used there and the money is under the exclusive control of the user at all times. Nobody can lock the account there or confiscate money. The cryptocurrencies can also even be restored without the need for the website itself, just with the help of a recovery tool.
Cryptocurrencies are there traded Peer 2 Peer, gladly also for cash or even “natural goods”. Trading takes place in encrypted wallets, to which NO ONE other than the user himself has access. The provider is only the arbiter who can vote, who of both parties is right in the event of a dispute.
The possibility of being able to restore the coins completely without the platform using a recovery tool is also extremely important. This means that even under extreme scenarios, such as the total apocalypse, the coins can be restored locally on your own computer.
2. You need cryptocurrencies!
Bitcoin is THE currency of the hour. The reasons are mentioned above. But where can I get it from? Of course on all big exchanges like kraken.com, bitstamp.net and how all their names are.
However, we prefer to recommend the “Peer 2 Peer Trading” on bitalo.de for the following reason: The purchases are from private to private and are not immediately visible to your bank as Bitcoin purchases. If you transfer money to the large exchanges, every idiot knows that you are trading cryptocurrencies. Most providers also need a so-called KYC, which means that you actually lose your privacy.
An interesting exception is the service from https://coinnexus.ch, because it is possible to buy cryptocurrencies up to CHF 5000 completely without verification or registration. Quick and easy. The sale also goes in the other direction quickly and easily without major verification processes, only the Bitcoin address has to be signed in order to exclude a three-party relationship.
3. You have to be able to pay your bills
Now you have bitcoins. And then what? They are not accepted anywhere? Are they not?
In the next step you have to be able to pay your bills. This is a tough undertaking without a bank account and how is it supposed to work without your own account? Hardly with cryptocurrencies, because almost nobody accepts them.
This thought is however wrong. Because there is also an absolutely indestructible approach for this problem: the so-called decentralized invoice payment. The simple trick:
If I have to pay an invoice, the creditor usually does not care who (or from which account) the money really comes from. The main thing is that he gets his money. This is where Crypto shows its true strength:
Even if the landlord for example does not want to accept bitcoins, I can still use my cryptocurrency to pay my bill indirectly. That means that I will give my bitcoin to another person that will in exchange pay my bill.. This can be any international resident with an account, including YOU yourself.
All you need is a stable network of so called bill payers. As there is already one on https://lamium.io
So if I want to have one of my invoices paid, I can simply offer a certain amount of Bitcoin to the person that will pay it. He pays my bill and everyone is happy. The payer gets cheap bitcoin, I get my bill paid and the landlord gets his money. Win-Win-Win situation.
Lamium.io is the first decentralized bill payment service that has managed to build a solid network of bill payers. Anyone can potentially join this network. Peer to peer and decentralized. In this way, you immediately become independent of your own banking infrastructure. It is also possible to bypass “foreign payments” by simply finding a local bill payer.
Join the network at https://Lamium.io
4.You have to get paid
But you will also have the problem the other way round. When you want to bill someone else and get paid in Bitcoin. Even if that was technically very simple, the problem is usually that your client or customer does not want to pay you in Bitcoin. Without your own account, a payment in EUR etc. is often not possible. So what to do?
Here https://intarium.ch helps with the effective management of invoices and receivables.
https://Intarium.ch is an invoice management tool that allows you to issue invoices in EUR, CHF or USD and then collect the receivables via Intarium and receive Bitcoin directly, without using your own bank account.
In this way, sellers of goods and services can be paid for directly in cryptocurrency without their own bank account. The customers do not even know that they are (indirectly) paying with cryptocurrencies.
5. You will always need help, network with others!
And generally speaking: Bitcoin is not just a computer network, but also a human network that connects people with the same goals and the same mindset. Like every simple sports club in every city, people come together who are generally liberal-minded, skeptical of the state and willing to help other people in need. Simply because they want to, not because they have to. For this reason it is always good to join a network.
Expert knowledge is available free of charge at any time at https://bitcoinembassy.ch
You should use this whenever possible. Because in the Bitcoin community there are not only scammers, but also real volunteers who want to improve the world.
Therefore, I ask you to share the article so that the community can continue to grow. Everyone is needed. Only a large network is a strong network.