13 upvotes, 2 direct replies (showing 2)
View submission: Don't invest recklessly
The USA is one of the few with a small depositor guarantee scheme, but not every bank is covered.
Also, the European Union is quietly proposing removing their guarantee and forcing everyone into a bail-in system.
Similar to Greece where all accounts are frozen when a bank unilaterally decides that it is "under stress".
Even worse, some countries turn deposits into equity. Depositors now become shareholders in an insolvent bank :(
Hence the interest in bitcoin, even from countries that are not suffering hyperinflation.
Comment by WorldLeader at 01/12/2017 at 00:19 UTC
5 upvotes, 1 direct replies
Yes but almost all countries have minimum reserve requirements... It's part of the standard toolkit for smoothing out credit markets. Nothing in the cryptosphere has minimum reserve requirements.
Comment by Mexicaner at 08/12/2017 at 12:42 UTC
2 upvotes, 1 direct replies
Do you have a source on EU proposing to remove the 100.000 euro guarantee?