Post
Topic
Board Economics
Re: Are people losing faith from centralized organizations?
by
stompix
on 11/08/2020, 13:03:23 UTC
What's your thought and what's the real situation of your country?

Well, a lot of people are going to be surprised probably but around here in Europe deposits have actually grown, almost all countries have seen savings increasing and bank account growing. My total surprise was Poland with an increase in banking savings of 10 billion PLN, that's 2.5 billion$ a month.

Also, I've seen a change in people's habits around here, probably because of the virus.
In the first days of the month, the workers from the sanitation department that is located about 2 streets from me usually come in the evening and make lines of 30-40 people to instantly withdraw money from the ATM machines in the mall close by, well, for 3 months I've seen them no more, a max of 1-2, probably they have started using their debits cards to actually pay for stuff in the stores rather than a mean to cash out at an ATM 1 hour after payment.

I don't think people are losing faith in centralized organizations,  but in banks and governments.
Centralized organizations are everywhere: bitcointalk, reddit, apple, Amazon, Facebook,  google.


Well said, but let's add a few more to the mix, binance, coinbase, gemini, blockchain, wirex, crypto.com...and so on.
If people would lose faith in centralized organizations centralized exchanges would be the first to take a hit, but it ain't happening.