Calculating the cost of bank bailouts correctly is important as their real price tag often remains hidden from taxpayers whose money is spent to rescue wealthy bankers. That’s even more important now when the next financial crisis seems to be on the horizon, with central banks preparing for new interest rate cuts and planning for more quantitative easing. Just as Greta points out, the funds are there and they are definitely more needed elsewhere. Supporting the limiting of factors that lead to intensified climate change is worth more than financing policies which simply postpone the problems of the traditional financial system for the next generations to solve.

While inventing Bitcoin, Satoshi Nakamoto must have thought about these matters. We know the creator of the world’s first decentralized cryptocurrency inscribed into the genesis block the Times headline “Chancellor on Brink of Second Bailout for Banks” from the Jan. 3, 2009 issue. It’s difficult to know exactly why Satoshi did so, but he was likely worried about the continued wasting of people’s money on saving failed corporations that under normal market conditions would have been left to go bankrupt, just like thousands of homebuyers, for instance.

Sourced through Scoop.it from: news.bitcoin.com