Post
Topic
Board Economics
Re: You should never trust banks
by
1Referee
on 15/12/2016, 10:49:14 UTC
currently we have to trust on both banks as well as bitcoin, as most of the people are depending of banks therefore they must trust on banks, but those people who know the benefit of bitcoin they also do trust on bitcoin, hope that with the passage of time bitcoin is going to become more and and more trusted currency of the world.

Trust in banks only goes up to a certain extent. Mainly because of the fact that people have not forgotten about what has happened in Cyprus years ago. It's an extreme example, but it's something I don't completely rule out to happen in other countries as well at some point in the future. It's not only the banks that you have to worry about, but also the governments. In that regard, you have to focus on more than just one aspect of the system that we are sucked into. We're stuck. Bitcoin gives us a decent amount of financial freedom as it allows to store a part of our wealth into it. Even if something happens like has happened in Cyprus, then there is nothing that the government can take away from your money in Bitcoin. That's the best thing.