Time Magazine Reports Why Bitcoin Matters For Freedom
By Luke Flowers – Crypto Speculator
Buying Bitcoin has had a bad reputation in some ways that has overshadowed the real potential of the blockchain industry, particularly when we think about the liberating possibilities it has. In an article written by Time Magazine, it looks at how a Bitcoin investment could aid financially to exchange funds without the restrictions of a third party.
When we look at the currency hyperinflation situation in Venezuela, it has become one of the world’s worst refugee crises. They live under authoritarianism and are unable to change the policies that have ruined their economy. With their leaders not held accountable, the people live in fear with no hope to fight back.
Venezuelans have started to adopt and experiment with Bitcoin investing in which some trials have been able to avoid the hyperinflation and strict controls over their current finance situation. New laws in Venezuela are forcing people to go through local banks for international transactions and banks are required to disclose data on how the customer uses its money.
In reaction to the new laws, Venezuelans have begun to receive Bitcoin from contacts abroad with small fees and in a matter of minutes. This route allows no government censorship and gives the people control of their money. Buying crypto could be the answer for other countries experiencing restrictive financial regimes. Cash is one of the most anonymous ways to use money but can be impractical due to theft. Going cashless with banks could be the way forward but it still has the implications of the government surveillance.
50% of the world’s population live under an authoritarian ruler, Bitcoin has the power to make a difference to four billion people who cannot trust those who govern them or their banking system. Providing education on how to buy Bitcoin, where to exchange cryptocurrency and developing the system, Bitcoin and other crypto could be their way to financial freedom!
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards