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Included in the coinbase parameter of the genesis block of Bitcoin is the following message: “The Times 03/Jan/2009 Chancellor on brink of second bailout for b
by nrb 5y ago
Included in the coinbase parameter of the genesis block of Bitcoin is the following message:
“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”
- imtringued 5y agoBitcoin doesn't eliminate the need for bailouts. It doesn't even do lending, at least nobody is crazy enough to borrow something that is going up in value.
- rand49an 5y agoI think it's more a point that it's a currency that it is effectively impossible for anyone to change the supply more than it doesn't need to be bailed out.
- nrb 5y agoWell, essentially it seemed to be pointing out that existing financial systems are inherently unstable by design. Whether these alternatives do any better is a different topic, I was merely answering the question above.