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I sometimes feel so lucky that I don't live in the USA.
When the US dollar starts experiencing hyperinflation, where do they turn instead?
But, then how will they (the banks) benefit themselves? Until today, they have been controlling the currency along on top of this fractional reserve abuse. Isn't bitcoin's usage suppose to discourage them due to this control loss?
Kind of, but banks do not need deposits or a set amount of deposits before they hand out loans. Bank loans create new money out of thin air.
At this point everyone can create money out of thin air as long as there's trust to this person. So, the root of the problem is the banks' policy. This 0% reserve requirement is disgrace. How's the things there in USA about this? Is there concern from the citizens?
<off-topic> I've no idea what's the proper way to spell it. Bitcoin or bitcoin? Capitalizing the first letter seems more like a licensed product rather than a scarce commodity. On the other hand, bitcoin is the unit we've agreed on and it may bring confusion.
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