Wednesday, January 5, 2022

Transacting Your Crypto Assets with the Big Banks is a Betrayal and a Disrespect to Satoshi's Work

We all know that Bitcoin was a project that was heavily inspired by the events of 2008 financial crisis. As the result of this crisis millions lost their jobs, life savings, pension funds yet the top executives of the big banks who had caused this crisis pocketed millions of dollars and financial institutions were bailed-out by billions of dollars of the tax-payers' money.

It is safe to say that these events really inspired Satoshi (assuming that it was 1 person) who was disgusted by the greed of the banks and the incompetency of the government in dealing with this problem. Although it was not the sole reason but it sure was a great influence on creation of bitcoin, given that the work on BTC and such cryptocurrencies had been under progress for a long time.

Yet in these past years as the result of the recent boom in crypto popularity, especially BTC, big banks have started to adapt these assets. These financial institutions will surely find ways to steal from the poor once again through these assets and get richer and gain more influence.

Not only is it not a stupid idea to enrich and empower the big, greedy banks but I think it is a disrespect to the Satoshi's work to transact cryptos with big financial institutions.

P.s. If you're interested in 2008 financial crisis (you should be), research TARP and if you are into movies, The Big Short is a great movie.


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