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I don't know if "reliable" is a good word for the legacy banking system. The banks in Cyprus for example siezed money from peoples accounts only a few years ago
by deevolution 6y ago
I don't know if "reliable" is a good word for the legacy banking system. The banks in Cyprus for example siezed money from peoples accounts only a few years ago... its much harder for banks to seize bitcoin that you self-custody. Many wealthy people and now companies are beginning to view bitcoin as a safe haven asset because of its decentralized security model and censorship/seizure resistant properties.
https://en.wikipedia.org/wiki/2012%E2%80%932013_Cypriot_financial_crisis https://en.wikipedia.org/wiki/2012%E2%80%932013_Cypriot_fina...
- tomfern 6y agoArgentina did exactly that on 2001. Life savings stolen forever. To this day, most people save their dollars in their houses because no one trust banks in the long term.