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The absurdity of the legacy financial system: Canadian Edition

The absurdity of the legacy financial system: Canadian Edition



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  1. I wanted to transfer money from my account with CIBC to my new account with Simplii. CIBC is the parent organisation of Simplii.

    I initiated the transfer on Friday. Nothing happens over the weekend, because numbers can’t change on a computer screen on a Saturday or a Sunday.

    By end of business day Monday my funds show as on hold. We’re now on Wednesday morning and while my account with CIBC is now at zero, my funds are still on hold with Simplii.

    Bitcoin fixes this.

    I simplii ([do you see what I did there?](https://i.kym-cdn.com/photos/images/original/000/000/681/what-you-did-there-i-see-it.thumbnail.jpg)) can’t see any way that Bitcoin does not eat these dinosaur institutions alive. Their rules are arbitrary and self-serving.

    Viva La Revolucion!

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