This Thomas Cook failure is a good argument for Bitcoin.
The failure of this travel company left hundreds of thousands of travelers trapped in foreign countries.
The failure of this travel company left hundreds of thousands of travelers trapped in foreign countries.
The British government mandates by law that travelers pay a few dollars in travel insurance for each flight, so the British government will respond by making sure such travelers can return home.
I mean, travelers sorta expect if they buy a return ticket, that it's guaranteed. That's not always the case, unless you buy travel insurance. Britain forces you to buy travel insurance.
In the case of private travel insurance, it's the private insurer that ensures the travelers get home if the airline goes bankrupt.
In any event, the analogy for Bitcoin is who insures you if your government goes bankrupt? Good examples are Zimbabwe and Venezuela recent. Venezuela was an oil rich country whose government decided to completely destroy the economy.
My own country (the U.S.) has similarly elected a populist president doing similar policies, trade wars hurting the economy, trying to inflate the currency to hide this fact. So the risk of your own government bankrupting the economy is high, no government is safe.
Your only protections are non-government schemes. The only two I know of are gold and bitcoin. And government messes a little bit with gold.
