| Well you have to consider that: * CBs are monetizing enormously; and if they stop the stock market crashes; they are also promising inflation; * the Libor conspiracy might bring down one TBTF in London * Bankia and Santander are under stress and might fail * There's a full-blown currency war going on with competitive devaluations * People are placing billions of dollars betting that the Japanese bonds & yen will collapse * there are reasons Germany is repatriating their gold I could go on, but bitcoin is oblivious to all that; in some ways it is less risky than the int'l banking system. Finally, just as an example, the Fed is printing $800,000 new usds per each new bitcoin created. I'm not saying that bitcoin is going to be that valuable, of course, but if you look at the numbers involved you might as well consider putting some savings completely out of an interconnected banking system that is the contrary of the internet: it needs all nodes to be up and running to survive. |