> Yes, but when my bank fails, the government backing that paper will pay up the deposit up to €50k... if the government is strong well there you go...
Eh, yeah, good luck with this. Maybe ask the citizens of Cyprus how trusting their government's promise to pay out in full on their bank accounts worked out.
The US banking system is now hugely concentrated, with a huge pile of leveraged derivatives bets being pyramided on top of depositor money. When this unravels in spectacular fashion, the choice will be to print a massive amount of new USD to paper over depositors' losses, or bail-ins. Either one will accelerate adoption of BTC to escape the depredations of fiat currencies controlled by gov't backed banking cartels.
Eh, yeah, good luck with this. Maybe ask the citizens of Cyprus how trusting their government's promise to pay out in full on their bank accounts worked out.
The US banking system is now hugely concentrated, with a huge pile of leveraged derivatives bets being pyramided on top of depositor money. When this unravels in spectacular fashion, the choice will be to print a massive amount of new USD to paper over depositors' losses, or bail-ins. Either one will accelerate adoption of BTC to escape the depredations of fiat currencies controlled by gov't backed banking cartels.