I didn't bring my lunch into work yesterday and I was beyond starving. Without a car, and far from home, the only place nearby is Whole Foods. I walked to the front of the store and they told me "Sir I am sorry all we can accept now is cash". The first thing I thought is wow, Whole Foods has been trying to push us to go cashless for the past 5 years, making it an inconvenience to pay cash, and trying to get us to pay with our palm - and now they say this is the only payment they accept???
There is a Chase bank nearby, and given how hungry I was I walked to the bank to withdraw some cash. Once I walk into the branch several of the tellers bark at me telling me that I am unable to withdraw funds from the ATMs inside the branch, or through the tellers directly because they don't have access to their systems. They did tell me I could go "Walk Through the Drivethrough" which I did, I'm starving.
Here I am standing in the 115-degree Phoenix desert sun, walking through a drive-through in a long line trying to get cash so I can buy a snack. I try to withdraw $500 like I normally do, and I receive an error (keep in mind there is a line of 10 people standing in the sun - so I go through the entire process again). I can withdraw $100, even though my account is well funded with cuck bucks.
I came to realize what I just went through is what people in Argentina, Lebanon, Venezuela, Cuba, and many other socialist nations went through. We are all one event away from having access to our rations with the permission of our banking system. Not being able to withdraw your full balance at any time is a huge problem, and things like this will erode trust in our banking system - even the normies in line saw it yesterday.
Whole Foods and other stores that experience this outage don't accept Bitcoin (I've tried several times). In a situation like this, I think we need to be honest that we are still completely dependent on the permissioned fiat system especially if you live in most parts of the U.S. This one failure by Crowdstrike moved a lot of the world to its knees as they didn't know how to operate without their systems. While I am grateful to be in Bitcoin, what can bitcoiners do to still exchange value for goods - especially when all of the companies will not accept? The Bitcoin network was up, but still, everyone I spoke to still wanted fiat. What are your thoughts on the situation from yesterday, and what can be done to have redundancies to always have the option to pay in Bitcoin? While I am grateful to have access to $100, and healthy food - many of us still tethered to the fiat world are very close to starvation if all systems go down.
ATM I couldn't withdraw $500 (Only $100)
All digital kiosks closed (Cash Payment Through Register Only)
Seven Hours Later In A Different Part of the Phoenix Valley
Why keep all your money in the bank? I pay everywhere with cash, because I don't like to be analyzed.
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I don't! I got paid on Friday and had a few thousand sitting in the account.
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You need to keep some emergency cash in your wallet for times like this. The bank could care less if you are uncomfortable or starving.
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Definitely! I've finally been able to withdraw a few hundred.
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And keep some more at home in case. I am sure this wont be the last time it happens.
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So, what have you learned from that experience?
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The second my direct deposit hits my account I need to move it out.
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Great. It is also advisable to keep few grand in cash on hand for days like that. Multiple days power outage and you will need some cash to really survive. Food, transportation to get out of the affected area, etc. People are laughing at "preppers" but I think that a "go bag" and cash on hand is a minimum. YMMV.
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I'm building my go bag/prepper bag right now! I think prepping is something we need more of, I don't think anyone is really prepared.
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It's happening. First slowly, then... I lived in Tempe for 25 years. What part of valley do you live.
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South Scottsdale! I was pretty much end to end in the valley the day of the systems going down, Glendale, North Scottsdale and Apache Junction. The story was the same in each place - no access to cash. I look at this as an omen or a yellow flag!
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It makes sense. As someone who has been a bitcoiner for 7 years and living off grid for 2 years, I have been waiting for this sort of thing. Of course, it takes longer to play out than it seems it would. It's inevitable though. I worked in Scottsdale for a lot of years doing electrical work on high end homes. Made good money but it was soulless.
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The drive thru atm 🏧 didn’t work?
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It worked, but had a withdrawal limit!
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Nice post! You are suggesting true implications of Microsoft fart yesterday. I also felt it. My nearby mall didn't let me buy anything and said POS is just closed!
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Yea! Crazy or sensitive our systems can be due to centralization.
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I only wonder what will be the reaction of people if we have prolonged outages of these systems failures! There may be a great chaos...
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Right, and to be fair it wouldn't be in their best interest as it would further erode trust in the system and people would be seeking for alternatives. Nevertheless, I'm going to have cash with me at all times hereforth.
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