4 ms·

> You see, Bitcoin was created after the 2008 crash where the banks, the organizations we've trusted with our money for a century, made some deliberate and know

> You see, Bitcoin was created after the 2008 crash where the banks, the organizations we've trusted with our money for a century, made some deliberate and knowingly poor decisions and they lost a lot of money for many of us. I hadn't heard about that. Which banks lost their customers' money in the 2008 crash?

rlpb 9y ago
The banking system deliberately removed value from all holders of EUR, GBP and USD: https://en.wikipedia.org/wiki/Quantitative_easing https://en.wikipedia.org/wiki/Quantitative_easing
- sanxiyn 9y ago
  This is false. During QE, inflation rate was below target, so less value than normal was removed from EUR, GBP, USD, etc.
  - rlpb 9y ago
    You can't measure value like that during a recession. Whichever way you look at it, QE removed value from those currencies. If I were to rob you, claiming that the overall robbery rate was lower that year, so you weren't robbed by others, so your expected losses were lower does not change the fact that I robbed you.
  - revmoo 9y ago
    This is the most hilarious defense of the Fed's counterfeiting system I've ever heard.
- amarkov 9y ago
  If the money in my bank losing value is robbery, isn't Bitcoin robbing me all the time? Bitcoin price changes may not be intentional, but I don't see why that should matter to me.
tarsinge 9y ago
A lot of them of them but customers didn’t see their balance move because it was repaid indirectly with their taxes money
Grangar 9y ago
example: https://en.wikipedia.org/wiki/Icesave_dispute#Collapse_of_Landsbanki https://en.wikipedia.org/wiki/Icesave_dispute#Collapse_of_La...
posixplz 9y ago
https://en.m.wikipedia.org/wiki/List_of_bank_failures_in_the_United_States_(2008%E2%80%93present) https://en.m.wikipedia.org/wiki/List_of_bank_failures_in_the...
arethuza 9y ago
I certainly know of people who lost a lot of money as bank shareholders rather than as customers.
bonestamp2 9y ago
You seem to be interpreting this very literally as money lost from bank accounts. Banking involves a lot more than simply money in checking accounts so I didn't think it needed to be established that a lot of people lost value in different ways in 2008. A number of banks packaged subprime mortgage lots that were misrepresented, sold and when they defaulted, they crashed the lending market which rippled through other parts of the economy causing job loss, real estate price crashes, stock value crashes and other types of lost equity for millions of people. But I guess if you want to take it literally, then you're right... nobody had cash go missing from their checking account. I personally lost about $60,000 in equity, but my checking account was not affected if that makes you feel warm and fuzzy about saying no banks lost anybody's "money".

rlpb 9y ago

The banking system deliberately removed value from all holders of EUR, GBP and USD: https://en.wikipedia.org/wiki/Quantitative_easing https://en.wikipedia.org/wiki/Quantitative_easing

sanxiyn 9y ago
This is false. During QE, inflation rate was below target, so less value than normal was removed from EUR, GBP, USD, etc.
- rlpb 9y ago
  You can't measure value like that during a recession. Whichever way you look at it, QE removed value from those currencies. If I were to rob you, claiming that the overall robbery rate was lower that year, so you weren't robbed by others, so your expected losses were lower does not change the fact that I robbed you.
- revmoo 9y ago
  This is the most hilarious defense of the Fed's counterfeiting system I've ever heard.
amarkov 9y ago
If the money in my bank losing value is robbery, isn't Bitcoin robbing me all the time? Bitcoin price changes may not be intentional, but I don't see why that should matter to me.

tarsinge 9y ago

A lot of them of them but customers didn’t see their balance move because it was repaid indirectly with their taxes money

Grangar 9y ago

example: https://en.wikipedia.org/wiki/Icesave_dispute#Collapse_of_Landsbanki https://en.wikipedia.org/wiki/Icesave_dispute#Collapse_of_La...

posixplz 9y ago

https://en.m.wikipedia.org/wiki/List_of_bank_failures_in_the_United_States_(2008%E2%80%93present) https://en.m.wikipedia.org/wiki/List_of_bank_failures_in_the...

arethuza 9y ago

I certainly know of people who lost a lot of money as bank shareholders rather than as customers.

bonestamp2 9y ago

You seem to be interpreting this very literally as money lost from bank accounts. Banking involves a lot more than simply money in checking accounts so I didn't think it needed to be established that a lot of people lost value in different ways in 2008. A number of banks packaged subprime mortgage lots that were misrepresented, sold and when they defaulted, they crashed the lending market which rippled through other parts of the economy causing job loss, real estate price crashes, stock value crashes and other types of lost equity for millions of people. But I guess if you want to take it literally, then you're right... nobody had cash go missing from their checking account. I personally lost about $60,000 in equity, but my checking account was not affected if that makes you feel warm and fuzzy about saying no banks lost anybody's "money".