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Author Topic: A Brutal reminder that your money isn't yours if you can't access it anytime  (Read 271 times)
Botnake
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November 05, 2026, 11:46:31 PM
 #41

Something like this happened in my country.. One of the major banks collapsed and declared bankruptcy due to mismanagement, and several of their major customers withdrew their money.. This forced the bank to go bankrupt, leaving thousands of people without access to their money.. Even after years of this case, and many people were arrested, customers still didn't receive adequate compensation for their losses.. Many even suffered severe stress from losing all their money.

This is a wake-up call that keeping money in a bank isn't completely safe.. No matter how much you trust a bank, it can run into problems at any time. Whereas with Bitcoin, you expect it to stay in your wallet as long as you keep it secure, and no one can freeze your funds, restrict your access, or run away with your money.. That's one of the key differences between Bitcoin and traditional banking.
People may learn the hard way, but it does not guarantee that everyone will shift to bitcoin. Because as long as the government will not promote bitcoin, people will not trust it, most especially those pro-government people. If they lose their funds on one bank, they will trust another reputable think, perhaps that's their way of response that they're not really open for bitcoin.

However, for us crypto enthusiasts, of course we should promote bitcoin. We knew bitcoin well, something that these ordinary people trusting banks do not have.

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Today at 02:02:53 AM
 #42

Another day to remind everyone to be their own bank, embrace Bitcoin and take full custody of their funds.
A big reminder for those who've forgotten the main reason something like BTC exist, which is to keep us from custodial risk. Those people who favor centralized custodian always talk endlessly about the risk of self custody such as losing seed phrases and so on while in reality if you put enough time to learn you'll be safe and when it comes to central custodial, you're at the mercy of the institution who manages your money. If they ever pulled shitty move that could endanger their entire customers, you're going down with them. Can you imagine getting charged for the custody and you're still going down with them when thing went south!

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