Post
Topic
Board Economics
Re: Why we need bitcoin...
by
RealMalatesta
on 06/01/2022, 20:24:02 UTC
while those kind of bank holidays are just a nuisance we know that when governments lose control of their economy they call for bank holidays to protect the banks from a rush against them so they do not go bankrupt, and not only that a bank holiday of that type can last for weeks in which you have no access to your savings, and once the bank holiday is over most likely the amount of money people had on their bank accounts has gone down or it has lost a great deal of its purchasing power during that time, something that cannot happen to bitcoin.
We literally have a system where the stock market could be stopped. You literally can't be trading on stock markets whenever the government wants to stop it. That is done to protect the stock prices to crash all of a sudden, and their reasoning turns out to be true some of them which is "crash is overreaction, in a few days it will be back on wherever, so stopping it allows people to relax and make sure".

Sometimes that's true, sometimes in a few days people forget all of it and stocks are back to where they are and if it wasn't stopped then many people would have lost a lot of money. However reality is that we are talking about something that is still too centralized and too dangerous.