Happycoin.club - Snowden's words about the advantage of Bitcoin compared to traditional finance came against the backdrop of a significant technical glitch on the New York Stock Exchange (NYSE), which occurred a day earlier.

“Technical difficulties,” according to NYSE representatives, were related to the mechanisms for increasing/decreasing the limit. They appeared on the exchange after an incident with computer algorithms in 2010 and were supposed to maintain market stability by protecting against price fluctuations during trading sessions.

However, this time it was the protective mechanisms that led to a sharp drop in the shares of the largest issuers. For example, the price of Berkshire Hathaway (NYSE:BRKb), Warren Buffett's legendary investment company, plummeted 99% from $622,000 to $185. The same thing happened with shares of the major mining group Barrick Gold.

Due to the glitch, the NYSE suspended trading, which resumed two hours later.

In response to this event, the famous US National Security Agency whistleblower Edward Snowden published a post with a brief comment: “Bitcoin will fix this.”

Thus, Snowden once again confirmed his belief in the advantage of decentralized financial systems over traditional centralized exchanges.

Indeed, Bitcoin boasts trouble-free operation since its inception (99.989%). During this time, only two incidents occurred: in 2010, when, due to an error, the network created billions of BTC literally out of thin air, and in 2013. Then there was a failure due to software incompatibility. Both incidents were promptly resolved by the developers.