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Again, the question is who you trust, and that remains a moral choice, not an objective, empirical choice. Oh come on. It absolutely is an empirical choice. Cr
by harryh 9y ago
Again, the question is who you trust, and that remains a moral choice, not an objective, empirical choice.
Oh come on. It absolutely is an empirical choice. Crypto-currencies have a very short history and that history is CHOCK FULL of people losing their money due to various forms of incompetence and graft.
Storing your money in a bank in a western democracy has centuries of history with extremely rare losses.
Please.
- meepmorp 9y ago>Storing your money in a bank in a western democracy has centuries of history with extremely rare losses. While I agree with your overall point, I think you're glossing over the historical instabilities in the banking system. Bank runs, failures, and physical robberies were pretty common until comparatively recently (in the US, at least - the 19th century was chock full of them).
- harryh 9y agoEven in the dark days before the FDIC losses in US banks were rarer than what we see in cryptocurrencies today.
- return0 9y agoCryptocurrencies offer the opportinity to test the waters with new models. If we go by the thinking "keep what works", society would have never changed. I agree that they have big failures to show, but i think it's still early to tell.