I saw the headline on my TV few days ago of the UK government unlocked 150 million pounds of dormant account to help fight coronavirus and I told myself maybe I didn't see that correctly.
So today I bumped into the same news again: UK Seizing £150 Million From Dormant Accounts Proves Why We Need Bitcoin
Oh yes it is for a noble course, it is to fight coronavirus but who gave who the authority to just go into someone's bank account and start using the funds there because it have been dormant?
What happen to long term savings? What happen to leaving funds for one's child/children for future use? What happen to the choice of wanting to leave funds dormant? I thought all these options and many other reasons means saving and privacy, I guess I have to think again.
Noble course it is, since the government is so determined to be noble, why not contact the account owners and ask if they are willing to donate to a noble course? Probably that is more human and exhibits elements of freedom.
I have so many questions, what will stop the same government from seizing active account in other to tackle a noble course? I bet they can dip into anyone's account and there is nothing one can do about it.
In many jurisdictions, for example, simply having some savings stashed away in a bank account that doesn’t have any other activity can put your funds at risk of being seized. – Reads the report.
Source
Here is a reason I support Bitcoin and other decentralized coins out there. Actions like this will only lead people to start looking for other means to secure their money because truly governments and banks are just bunch of legal thieves.
We owe it to ourselves to make Hive great
People used to put their money in matresses. Bitcoin is the digitization of that.
I remember my growing up my parents used to save their money under the mattress, they never paid for mattress charges lol