Resources › Facebook Live › I’m STUCK with $47,000 that the stupid banking system won’t let me put in bitcoin until TOMORROW!
I’m STUCK with $47,000 that the stupid banking system won’t let me put in bitcoin until TOMORROW!
Published December 5, 2025
by Joel Bomgar
YouTube Video Transcript
I am stuck with $47,000 that I am not allowed to buy Bitcoin with until tomorrow because the traditional banking system is stupid and slow and insane. Now, this is on the same day where I paid an invoice of with Bitcoin this morning for $10,000. It took me literally 30 seconds or less to pay a $10,000 invoice to a literal mother country and I did it instantly immediately. It's just not that hard. Okay, so the traditional banking system. Last week I showed up at home with after a bunch of traveling before I immediately left on another trip with my family for even more traveling. But as I was filtering through my mail uh in the few hours I was at home, there were two checks in the mail. One is a $20,000 refund check uh based on an amended tax filing. So it's a $20,000 check from the Mississippi Department of Revenue as a tax refund based on an amended filing. and that just showed up. So, $20,000 I can invest in Bitcoin as soon as I can get it somewhere that I can put it in Bitcoin. The other is based on a return of capital for an endeavor uh from years ago that did not work out and I'm basically getting my capital back on that uh or a tiny portion of it and it's $27,000. It was related to legal accounting. Anyway, a bunch of random legal and accounting stuff back from my political days that is not even business related, but anyway, I'm getting a return of capital for some various fees related to legal and accounting sort of stuff. Uh, and that is for $27,000. So, together 20,000 plus 27,000 I'm sitting on $47,000 of physical paper checks like that I'm holding in my hands like right here. I've got checks. I've got checks that I can't do anything with literally floating around in my hands right here. So, um, the problem is I can't deposit them because when I got back and to traveling with my family here, uh, I assume there would be a Wells Fargo in the city where I would be. I mean, I thought there were Wells Fargo everywhere. Well, I get here and normally if you want to put money in or checks in a bank account, if you walk in and you just deposit the check, there's a hold on it. There's a multi-day hold. You can get around that hold by showing up, cashing the check, and then immediately giving the teller the cash from the check to deposit in your account. Then it frees up the funds immediately because they know you have the funds because you literally cashed them and handed it to them. Now, they do it with a cashless transfer. So, they don't actually hand you $47,000 in a duffel bag and then you hand it back to them in the same duffel bag. It doesn't work that way. There's no actual money that changes hands, but it's uh it's uh they they put it in their system as though it did. So, they treat it as though you cashed the checks for 47,000 and then you immediately deposited the cash, which then does not result in a hold on the account. So, normally, if I am near a Wells Fargo branch, I can use that to put a check into Wells Fargo that I can immediately suck out of Wells Fargo into Coinbase or River and buy Bitcoin with it. But in this case, because I am in a city uh with my family that does not have a Wells Fargo or a Trustmark bank, I have no idea what to do. Uh I can take a picture of the checks in the Wells Fargo app. The problem is that results in a 24-hour delay, which is certainly not worth nothing, but come on. Like, how is it? How is it that I can physically be holding a piece of paper? Two pieces of paper literally right in front of me. I'm physically holding two pieces of paper that are supposedly worth 20 uh $47,000 combined. Except they're not worth anything to me right now because I can't use them. I cannot buy a cup of coffee with this paper. I can't do anything. Now, I could go find a random bank and I could cash these and what? I'm going to walk around with $47,000. No, that's dumb. Plus, I don't want to open a new bank account in one of the random banks in the city where I happen to be because I don't want more fiat bank accounts. I want to turn this into Bitcoin. That's what I want. And due to the stupidity of the traditional banking system, you got to have a branch or if you take a picture, you got to wait a day. So, because I can't think of a better option, I'm still brainstorming. If you have a better option, post it in the comments. But because I can't think of a better option, I guess I'm going to take a picture of these two checks, upload them to the uh Wells Fargo app, wait an entire 24 hours like an idiot, and then suck it out of Wells Fargo as fast as conceivably possible. But I don't want to buy Bitcoin with this $47,000 tomorrow. I want to buy it today, right now. Bitcoin is on sale. Could it be more on sale tomorrow? Sure. Nobody knows. I don't know. But I know it's on sale right now. And I don't know when that sale ends. So I want to buy Bitcoin right now. Might be cheaper tomorrow. I don't care. I want to buy Bitcoin with this US dollars right now because that's what I always do. Every chance I get, I turn US dollars into Bitcoin regardless of the price of the Bitcoin. I don't check. I don't wait. I don't time it. I don't think is it expensive or is it cheap. I just want to buy Bitcoin and I just want to buy it right now. And if I can't find a way to think of a way to do that, I'm just going to upload these two checks to Wells Fargo and I'm going to wait like an idiot for 24 hours and then they're going to show up in the account. My guess is they will have a multi-day hold on them because they were not cashed and then redeposited. So, I'm reluctant to do that because I think even if I do it, I'm not going to be stuck waiting 24 hours. I'm going to probably be stuck waiting, I don't know, multiple days while they wait for the funds to clear on a deposited check from an image. Uh, what a what a stupid roundabout idiotic banking system we have. And again, on the same day that I paid a $10,000 invoice to another country in less than 30 seconds because Bitcoin is amazing. It's just the traditional banking system is so obsolete. It's like I'm sitting here shoving paper into a fax machine when the internet's already been invented. And how dumb is that? Like you're shoving paper in the top of a fax machine after the invention of the internet thinking, "Hey, these fax machines are going away. There's no way people are still going to be using these. And here I am staring, holding in my hand physical checks because we apparently send around US dollars with paper like an idiot. I mean, come on, people. We got to get with the program here. So, if I can't come up with a better option, I will upload these checks to Wells Fargo. I will wait a day and then I will probably wait multiple additional days for the checks to clear and then finally they will let me buy Bitcoin. I don't know how else to do it. I'm stuck. Uh I don't want to wait a day. I don't want to wait five to seven days or however long they put the hold on this if I upload the check images. I don't want to wait any of those. I want to buy Bitcoin right now so I can get this US dollars out of my possession and into real sound money that the government can't make more of. Literally today, December 1st, the government stopped quantitative tightening by reducing their balance sheet reserve size. So the government is as of today, literally December 1st, 2025, the government is only printing more money without making any effort whatsoever of sucking any of that money back out of the economy. It'll be heavily inflationary. The US dollar will lose value. I mean, and I'm sitting on $47,000 of stupid US dollars that I can't convert to Bitcoin because the traditional banking system is so idiotic. But anyway, I will persevere. I will get this converted. Uh, I'll post the price as soon as I do uh of what price I bought the Bitcoin at. Uh, when I finally get this converted. Uh, until then, I don't know. I'm looking out the window. I'm thinking, how does one convert a check into Bitcoin? I don't want to like meet somebody random at a coffee shop and do an across the table swap. That's a great way to get yourself robbed. So, I want to do it on River or Coinbase, but I got to get it into an account that they can suck out of. And uh there is no Trustmark or Wells Fargo banks in a very very very long radius. So I'm brainstorming. If you got ideas, let me know. text. Mhm.
Disclaimer:
The content provided in this post is for educational purposes only. It should not be considered financial, investment, or trading advice. I am not a licensed financial advisor, and all opinions expressed are my own. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions. Investing in Bitcoin or any other assets carries risk, and you should never invest more than you can afford to lose.
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