Post
Topic
Board Bitcoin Discussion
Re: Bitcoin stops bank runs - own your keys!
by
hatshepsut93
on 27/04/2019, 12:47:07 UTC
In 2008 there was a banking scandal and there was a run on the banks because knew that they could not access their money. Yesterday Bitfinex has a scandal and everyone with their own keys just smiles.

https://cryptostar.money/blog/bitfinex-scandal-bitcoin-stops-bank-runs/

The problem with Bitfinex is that some people suspect that they use Tethers to manipulate Bitcoin's price, so even if you control your private keys, it still affects you, because it negatively impacts the price. The value of Bitcoin as store of value is being undermined by shady ecosystem. Hopefully Bitcoin today is more mature than when it was during the Gox fiasco.