Bitcoin is A Viable Alternative To Capital Control And Central Bank Dominance

To some people, the question will always remain why Bitcoin is a better alternative compared to government-controlled fiat currencies. While there are many answers to that question, the most obvious reason is to circumvent capital control and a collapsing fiat currency. Throughout the years, Bitcoin has provided exactly that to citizens in need of moving funds out of a country during economic woes. After all, Bitcoin is financial freedom, whereas fiat currency is a master-slave relationship.

Circumventing Capital Control With Bitcoin

In the Western world, capital control is more exception than a rule, although the Greek population may want to argue that point of view. When capital control is enforced, a country is limiting the amount of funds that can be moved to other countries, as well as the amount of foreign funds flowing into the local economy.

It is important to keep in mind capital control is only forced as a last resort solution. For example, the Greek banks limited the amount of funds citizens could withdraw from a bank ATM every day, in an effort to keep some form of control over funds at all times. Even though this only compounded the economic stagnation at that point,

Read more ... source: TheBitcoinNews

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