In BitLicense Part 1, we explained how debilitating the proposed NYS Department of Financial Services rules on Bitcoin companies would have been had it been applied to the last major technological breakthrough – the Internet. In a nutshell, we would all be surfing to slow web pages controlled by bank portals.
In BitLicense Part 2, we clearly demonstrated that while Internet technologies have pushed the prices of practically EVERYTHING down while the performance and quality have risen, bank product pricing has literallly skyrocketed in the same timeframe with no material increase in quality. Why is that? Well…
In BitLicense Part 3, we showed all that the proposed (and applied) regulations act as a monopolistic/oligarchal barrier that prevents smaller companies from pushing innovation to increase product/service quality and from dropping prices. We even went so far as to rewrite the proposed BitLicense to prevent and avoid the inevitable “robbing” of the consumer by entities that are essentially protected by regulation and seemingly immune and definitely resistant to the (vastly consumer beneficial) advances of technological change.
Well, here, we will clearly and succinctly demonstrate exactly how much that ‘inevitable “robbing” of the consumer by entities that are essentially protected by regulation and seemingly immune to technological progress actually costs over time in two very simple, but information-packed charts….
As you can see from the chart above, banking products and services pricing has outstripped every consumer staple in price appreciation since the 1997 base year sans the two year period where the US put over $1 trillion in bailout aid into the industry (which essentially makes the services even more expensive, during said period, to the tax paying, savings orientated consumer)!
The chart above illustrates how banking product pricing growth rates outstrip income growth rates when inflation adjusted and normalized. Why haven’t bank profits and revenues reflected such a stark increase in pricing? Because the monies are going to fund the (oft hidden) black holes in bank balance sheets and businesses that caused the 2008 financial crisis.
Veritaseum’s UltraCoin easily beats conventional bank product and service pricing by a magnitude. From the mundane, to the complex. I urge all to read “Using Veritaseum’s UltraCoin To Take Direct, Specific Positions On The Argentine Default For As Little As $5!” for an example or download our quick start guide to get an idea of what the new wave of value transfer feels like.
Are you interested in a more competitive financial landscape that breeds better pricing and superior services? Well, now you can do something about it.
- Step one: Download the future of money, now! See for yourself what the banking industry is up in arms about. More importantly, witness first hand, the power of Bitcoin technology.
- Step two: Stop the BitLicense proposed legislation that simply furthes the forces that allow these price increases in the face of global price deflation. We strongly urge you to voice your own opinions to Superintendent Lawsky, the man who has the authority to put a stop to this overpricing power (althought current actions are heading in the opposite direction) right now.
- Step three:Become proficient in the “new” way of performing trades of value. I’m quite confident that once investors, traders, speculators and those in need of hedging services become aware of what’s possible with programmable money, there’s no turning back – regardless of legislation. Think of how far Uber has gotten in the livery industry simply by offering superior services! Look here for a strong example, and remember this is not going though and exchange, is peer to peer, and has less credit or counterparty risk than any comparable product we can think of. Download the future of money, now and experience a new way of trading value – witness a simultaneous increase in value and decrease in price over existing finacial services by taking advantage of the Bitcoin protocol. The Bitcoin protocol is to the banking industry what the Internet protocol was to the media industry.
via Zero Hedge http://ift.tt/1rWYXkc Reggie Middleton