Post
Topic
Board Economics
Re: Bitcoin gives financial security.
by
Alphakilo
on 16/02/2025, 15:09:22 UTC
I heard about something that happened some time ago where a man won a huge some of money in gambling and he decided to save the money in a particular bank the money was there and later on the bank was closed down and he had to go through a lot of procedures to get his own money he was paid half of the money with promise of completing the payment soon, this won't happen if you saved with Bitcoin.
While I agree with you that bitcoin offers financial security, in your example, it is not strong enough to show it. How many of us in our lifetime can say that the banks which we saved our monies have closed and we lost some of it.

Only less than one person. It doesn't always happen and banks are not built to operate that way if not they would be called scammers and not banks. What I am aware that happens is that when a back goes bankrupt, they will be bought by another bank and the monies of their customers will remain safe.

Quote
I also heard of a man who was into real estate investment and because of a new policy established by their government he lost a lot of money and that was how he went bankrupt, this won't happen if you invest with Bitcoin.
This is also not a strong argument for why bitcoin offers financial security.
We already get the point. The safest thing to do is diversify your investment - some in the bank, some in bitcoin, some in real estate, some in stocks and other viable investment.