You clearly don't appreciate how far society has come because of government oversight. Now I will be the first to admit that I do think they overstep their boundaries many times, but money has to absolutely be central. It has to be backed by something, and the only thing big enough is the government of a country. Would you trust any bank to issue currency? First, we would have dozens floating around out there, and then when we see how easy it is for a bank to fail like in 2007, which would erase whatever value you think you had (ie. Bear Stearns "dollars"), there would be no trust in the system. When there is no trust in the system, you can't do anything. You can't finance big projects, you don't have cheap access to capital, basically, you don't have economic growth. Now at the same time, I'm not saying that a currency that couldn't be manipulated by a government would be a bad thing, but crypo currencies are certainly not it. In my opinion is vaporware, but obviously, when enough people jump on board the value can skyrocket. Using it will be a whole different ballgame though, and I"m sure this will be the death of it when they try and make it useful. Given the choice of government control vs. no control, I prefer government control in a democratic society. Its the lesser of the two evils.
I am sitting right here down in South Florida as Hurricane Irma heads here. And I was here for H. Andrew as well. What of it? As for H Katrina you got that right - true tax-payer funded government break down!!!! All three levels - local, state and "damn good job Brownie" federal.
Because of government control, you actually have a bank that is considered big, meaning they employ lots of people, lend lots of money, allow people to finance a dream, etc. Of course I don't like how the banks are bailed out, since there is no moral hazard, but seriously, under your model of everyone for themselves, we would go back 500 years in time, and I do like my easy modern way of life. I think they clearly know that for next time, they can't bail out the big banks, so they are trying hard to prevent a next time. They certainly won't be able to throw 700B at the problem, of which the common people got nothing, and have the tax payers pay for this. But if the world turns away from the US dollar, trust me, you got much bigger problems and won't be counting your bitcoins thinking you're rich.
So your point is ??? No government at all ?? Just because a system can be inefficient at times, it doesn't mean eliminate it all together. As you are sitting in S Fl I bet you are hoping the new govern issued building codes issued after Andrew are sufficient. Anyway, stay safe.
I think a philosophical or political discussion is appropriate, but this is a trading site and we're here to make money! It seems to me many bashers are just people who can't make any money trading cryptos, but I could be wrong.
You and SSS12 somehow take my distaste for big {controlling} government and turn into no government at all. LOL. When the next real great depression soon comes, that the fed can't print their way out of, we'll see how many people are employed by TBTF banks. BTW they haven't been lending lots of money, looked at on an historical basis. Don't you read the news?
You keep going back to TBTF institutions. But, it was free market dynamics that made them that way. What do you want ? To break them up ? Oh wait, that would be a GOVERNMENT action.