Literally went to the ATM yesterday. Waited a couple of minutes behind a girl, who walked away shaking her head. I put in my card. Wait. Type in PIN. Message: "This ATM has run out of money". I personally feel lucky every time banks pay out fully reserve cash for fractional reserve bank credit.
When the time comes you will be able to deposit but not withdraw, your bank deposits will just switch over, and the ATM will be turned off.
https://www.zerohedge.com/crypto/nigerians-not-eager-embrace-central-bank-digital-currency
Discussion
I just wrote this: related.
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If you understand what bank credit is. It's a claim on the loan book (multi decade mortgages) of the bank. Plus a small amount of cash and teir 1 capital, it ought not be surprising that ATMs dont pay out. This is the weakness of the custodial model. Everything works until it doesnt.
Sorry you had to live through that…This happened to all 4 my grandparents
I was fortunate to grow up in western financial privilege
But my fam never forgot and taught us our history
Long live the Bitcoin & freedom money