Interesting Stuff Financial System Holidays - This is an article about how the financial system deals with downtime, particularly downtime that’s not consistent throughout the world. Banking is a strange industry in that it doesn’t like to be open all the time, due to the nature of fractional reserve banking. What I learned from this article is that the holidays are there for a good reason, mostly around lessening the requirement of trust, which unsurprisingly plagues fiat systems. Bitcoin can operate 24/7 because it doesn’t have any authorities.
Bitcoin Tech Talk #387
Bitcoin Tech Talk #387
Bitcoin Tech Talk #387
Interesting Stuff Financial System Holidays - This is an article about how the financial system deals with downtime, particularly downtime that’s not consistent throughout the world. Banking is a strange industry in that it doesn’t like to be open all the time, due to the nature of fractional reserve banking. What I learned from this article is that the holidays are there for a good reason, mostly around lessening the requirement of trust, which unsurprisingly plagues fiat systems. Bitcoin can operate 24/7 because it doesn’t have any authorities.