Fiat fractional reserve banking is a legalized scam backed by the government and subsidized by the taxpayers.

1) You deposit your money.

2) The bank keeps a fraction of it onhand and engages in speculative activities with the rest of it.

3) The bank gamble doesn't pan out.

4) The government steps in and makes it whole by printing money to fill the gaps.

5) Money supply increases and as a result purchasing power is reduced for all holders of the currency.

In effect, the losses of the bank are nationalized and its profits are always privatized.

The system has time and time again failed us. It's about time we opt-out of the #Fiat ponzi.

We finally have an alternative: a #Bitcoin standard.