“Chancellor on brink of second bailout of the banks” - Financial Times, encoded in the Bitcoin genesis block “The problem with money is all the trust that is i

“Chancellor on brink of second bailout of the banks” - Financial Times, encoded in the Bitcoin genesis block “The problem with money is all the trust that is involved” - Bitcoin Whitepaper We can debate whether or not Bitcoin has truly solved the problem it set out to solve, but the problem Satoshi Nakamoto intended to solve was clearly articulated in the Bitcoin Whitepaper and immortalized in the genesis block. Bitcoin was designed to solve all the trust required in the system, trust in institutions that have proven again and again not to deserve that trust. With traditional currency you have to trust the bank not to lose your deposits through speculation. You have to trust that the bank holds a sufficient fraction of your deposits to remain liquid and solvent when you go to withdraw “your” money. You have to trust central bankers not to print more money out of thin air and dilute the purchasing power of you money, etc.