Quote from: o_e_l_e_o on March 30, 2020, 09:13:02 PM

Quote from: avikz on March 30, 2020, 07:25:43 PM

Banks won't fail. Governments will not let it fail.

And how will they do that? By bailing them out with more money they've printed out of thin air. That can't continue indefinitely.

Quote from: avikz on March 30, 2020, 07:25:43 PM

That wouldn't happen unless governments around the world steps up with such decision.

Nonsense. The whole point of bitcoin is to move away from a system where we rely on third parties, from a system where the government has control over our money. If we need government intervention to promote bitcoin, then bitcoin has failed at what it is supposed to be. Thankfully, bitcoin is doing just fine without any government help.

Speaking of banks, it's a question that concerns me. I've talked to my friend recently about Trump's idea of the $2 trillion financial package, and we both agreed that they'll be printed out of thin air. Where we disagreed is the outcome. I said I worry it might be too much, and since the US is already not in the best position with that debt to other countries plus the world economic crisis is saying 'hello' already, it can trigger an unexpected decrease of the dollar's value (meaning its purchasing power) or even lead to hyperinflation at some point. He believed it'll take years of printing money like this to make a 40% value decrease...
And as for Bitcoin and the government, I agree that we should not rely on the latter, but retailers need to offer where one can spend money because the current options are very limited and thus spending Bitcoin on essentials is next to impossible (at least, in my country).