130 upvotes, 3 direct replies (showing 3)
View submission: Don't invest recklessly
Fiat is protected from bank runs by the FDIC, then land and laws, and ultimately weapons. Ain't nobody bailing out bitcoin investors when the music stops.
Comment by timmy12688 at 30/11/2017 at 15:41 UTC
15 upvotes, 1 direct replies
They do this by creating more money. Imagine if Bitcoin worked the same way by increasing the total supply of Bitcoin by...idk a trillion coins?
Comment by 964d72e72d053d501f29 at 02/12/2017 at 16:56 UTC
3 upvotes, 0 direct replies
In the country I live in ~30% of all the losses from a bitcoin is covered by tax deduction as long as I document the wealth and realized loss in the tax returns.
But for those who hide their bitcoins or don't document their purchases from the state it is possible to go towards 0.
Comment by aballbag at 30/11/2017 at 21:34 UTC*
-1 upvotes, 1 direct replies
Tell Zimbabwe citizens about FDIC.
The ECB is also currently proposing eliminating the small depositor guarantee for Europe. This happens to coincide with serious T2 account clearing issues !