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Iceland 2008 firsthand By Cointelegraph

by Mike Robinson

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What it’s like when the banks collapse: Iceland 2008 firsthand

Many Bitcoiners anticipate the day when hyper-Bitcoinization will occur and the banking system crumbles.

Jared Bibler from the United States, who in 2008 experienced Iceland’s most severe banking and share-market collapses in modern memory, says this reality is not something anyone would want.

Jared Bibler amassed many pieces of evidence throughout the investigation. (Supplied).
Reykjavk, the capital of Iceland and home to over 120,000 inhabitants (Pexels), is also known as Reykjavk.

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A most peculiar bank

Jared Bibler is hard at work. (Supplied).

The crisis is unfolding

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Iceland has amazing Northern Lights views and is powered almost entirely by hydro and geothermal energy. Source: Pexels

Investigating the matter

Justice denied

Bibler feels that punishments were too weak to be deterrent. (Supplied
Jared Bibler is the author of a book that examines the effects of the GFC on Iceland.

Bitcoin emerges

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