Post
Topic
Board Economics
Re: What they mean whenever they say Bitcoin was born in the wake of 2008 recession?
by
yurgee
on 11/07/2020, 19:13:34 UTC
Well, it was never intend to be profiting thing, do you really think that when bitcoin was created, the idea would be "buy bitcoins at lower dollar value and sell it at higher dollar value so that you would have more dollars" ? Do you really think that you would create a currency with the idea of making more of another currency? Of course not.

When people say bitcoin was created because of 2008, they mean that governments gave bail outs to banks to keep them open while punishing absolutely no one and causing hundreds of millions of people worldwide being at an unfair disadvantage because they still need to pay their mortgage while banks didn't had to pay for their own debts. So bitcoin was created in order to create a decentralized and fair situation and not to make more money.

Thanks for the education. The explanation makes sense