I have $800,000 in my account for operating expenses.
After bail-in, I only have $100,000.
If I had put half of that $800,000 in Bitcoin, depending on when I invested -
-I might have twice that amount or 10 times that amount
-I might have exactly the same as that amount
-If I invested towards the top of the bubble, I might have half that amount.
In any case, I'd still have more money than the $100,000 that is left after the bail-in.
I don't think the risk that bitcoin will flop is higher than the risk that a bail-in will occur in any given country. Remember, risk is individual. One person can look at the financial news and say "Oh, that won't happen here ayntime soon; I'm safer in Fiat right now." Another person can look at the same news and say "A haircut could happen here any day; I don't want to be the fool who's all-in Fiat monday morning when the bank holiday is announced."
Remember, nobody in Cyprus had any idea it was coming (except those who were forewarned.) They woke up one day and all of a sudden the government had frozen their bank accounts and was talking about taking thousands upon thousands of dollars of their money. This strategy has been authorized in many other countries since then, and most of these countries are, for all intensive purposes, financially insolvent and hanging by a thread. The one thing I know for certain is that if there is a depositor haircut in my country, I am not going to know about it days in advance. And the strategy is already authorized by my government. I'm not a fool.
I agree that if I were in Cyprus, I would have chosen Bitcoin over the banks (being already a bitcoiner of course). As a non-bitcoiner businessman with full knowledge of my company's legal requirements and responsibilities, much less accountability to investors or shareholders if any? Doubtful. As a business owner in any other country that doesn't seem to be in ruin like Cyprus? Most definitely *not*.
I suppose in the end, at least in Bitcoin you actually have control. With a bank account in this world right now your "choice" is whatever the bank thinks is best for the bank. I'll trust my fellow tech nerds over the bankster thieves.
Bitcoin Ashley that is heinous
Wow Ashley, I'm so sorry what happened to your money. People have killed for less.
All of europe though? the UK has a depositor bail-in? Well... shit. Maybe it's time to visit home and purchase silver.