Banks have closed till further notice in Lebanon but Bitcoin never closes

in LeoFinance11 days ago

Honestly, I feel deeply for the citizens of Lebanon a Lebanese Republic is a country in Western Asia, which I didn't know that it existed until the major sad news two days ago about all the banks in the country shutting down until further notice, and the services being shut down including automated teller machine (ATM) withdrawals and online banking application, meaning they are back to the stone age when it comes to their backing section.


How Would Their Citizens Survive

The important question I want to ask is this how are they going to survive, I mean for those that are not Bitcoin or Crypto holders who can pay for goods and services to any firm and establishment that has crypto as a payment option because let's say you were lucky enough to withdraw some money before the closure of all the banks in Lebanon until further notice two days, the money you withdrew at some point will finish and the fact they don't have access to their money until further notice, how would they feed and pay off other things, except the government have a plan of take care of all it citizens like during the pandemic, living in Lebanon is going to be like hell right now for non-crypto holders.

The Reason Behind All Banks In Lebanon Being Closed Until Further Notice

So, The banking association of Lebanon (ABL) announced two (2) days ago that all banks in the nation would remain closed until further notice due to persistent risks to staff members following a wave of bank stick-ups last week by aggrieved depositors attempting to access their own funds, which are locked due to the ongoing economic crisis. Well in my opinion Bitcoin fixes this because Bitcoin never closes, that is why I would always choose to save my money in crypto than any bank and all banks in Lebanon being shut down is one of the major flaws with centralized finance.

A lot of people might not realize yet how fundamentally trustworthy the Bitcoin ecosystem is and how amazing It is that it can never close, the ledger and network cannot be manipulated, hacked, or even recreated, and the monetary system cannot be tampered with also it that not amazing, but i would advise that you invest in Bitcoin and also save up some money in stablecoins due to volatility impact on the crypto market.


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Twitter: @VictorOnwugbenu

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BTC is too slow and expensive for day to day.

Some of the other crypto including this one could keep them going.

When you have not planned properly, this happens in the case of a major crisis!