Why should you use Bitcoin? https://i.current.fyi/e542d698067bdbee/uploads/image246835.jpg

TL;DR

What’s wrong with fiat currency and central banks?

After the implementation of the current global banking and fiat currency system, the world was left with no other choice than to trust bankers and politicians to run the global financial system in a fair way.

“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.” — Satoshi Nakamoto

The history of the abuse of fiat currencies can be grouped into 3 categories:

Security. Bad people stealing your money or your money’s value, sometimes in obvious ways, sometimes in sneaky ways. Privacy. Bad people monitoring all your private financial transactions, and using your personal financial data against you. Freedom. Bad people controlling how you can spend your own money, who you can transact with, how much you can spend, etc.

How can people steal my money if it’s in a bank?

Here are a few examples:

Theft by Inflation: This is the primary way banks steal your money, and one of the most sneaky. When central banks issue new money, either by printing it on worthless paper, or just adding an accounting entry in a database they control, they inflate the global money supply. Inflation steals buying power from everyone who holds some of that currency, simply because there is now more of that currency in circulation. Gold cannot be created, so bankers invented a paper money system instead.