In most countries, the system worked.
It worked ? It worked for who ?
*Whom. For all of those whose economies didn't collapse?
It means a loss to the UK taxpayer of £13billion ... it was the central bank creating money out of thin air and placing it on the balance sheets of the commercial banks that I was referring to.
What you're doing here is not making any sense. How could bailing out banks cost the taxpayer anything above the printing cost of the filthy fiat that's printed out of thin air?
Intrinsic consistency is super important.
Bitcoin means Governments will lose a large tranche of their nation states control over monetary policy, were it ever to be adopted wide scale.
"Gentlemen, let's adapt bitcoin instead of trying to stop it. One very intelligent bitcoiner explained to me how then we'll be able to successfully lose control of the monetary policy, crawl in some corner and die. Seems pretty attractive, so let's hurry up and stop printing our worthless scrip and embrace bitcoins!" -- Every Government Ever