Post
Topic
Board Economics
Topic OP
The importance of Bitcoin in avoiding corruption in the banking system.
by
Scarlett_23
on 22/07/2025, 13:47:20 UTC
The oldest and most popular cryptocurrency is Bitcoin. Its current market value is 117.934. It is a completely decentralized currency. Its main goal is that it is better for no one to control the monetary system than for a few people to control it. That is, no country, government or group in the world can control it. Bitcoin is designed this way. That is, Bitcoin starts to come out of the centrally controlled economic system. In the most traditional or conventional way, we deposit our hard-earned money in the bank so that it is safe. However, corrupt bank officials try to embezzle customers' hard-earned money in various ways. And we saw this during the American economic crisis in 2008.

In the global economy, one country is similarly tied to another country. There, a situation has arisen in developed countries like America. Which has affected the entire world. The American people have blamed the centrally controlled economic system and big banks. At that time, the banks used to give this money to various investment institutions and those institutions used to invest this money in risky businesses. Which they later failed to return. In view of this global situation, Satoshi Nakamoto published a white paper. And tried to convince the world about a digital currency called Bitcoin. He also gave the idea that it would run without third-party intervention.

After that, many more crypto currencies came into the market. But it could not be as transparent and long-term as this currency. The influence of Bitcoin on other digital currencies is felt. Therefore, if the price of Bitcoin increases, the price of other crypto currencies also increases. On the other hand, if the price decreases, the price of other currencies also decreases.