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My "bank account" holds "money" "insured" by the FDIC. Enjoy your "freedom."

ganeshkrishnan 9y ago
There is no right or wrong in this. Dollar and Bitcoin have their strengths and weakness. Neither is going to replace other in the near future.
kbody 9y ago
Your tone showcases your emotions. I can send bitcoins to anyone that wants to accept them, anytime. I can send my USD only if my bank permits me to do so and depending on their schedule. That's one of the core values for me, however I can see that people are used to or just fine with their current bank relationships. Thinking that it's either the one or the other that work for everyone is naive.
- username223 9y ago
  > Your tone showcases your emotions. I doubt you can define or explain those words, but you're welcome to try.
  - dang 9y ago
    Crossing into outright incivility is definitely the wrong direction to take a discussion on HN. Please read the site guidelines and please don't do this again. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
- victor106 9y ago
  “I can send my USD only if my bank permits me to do so and depending on their schedule.” I can login to my online Bank of America account now and transfer money to most anyone I know in about 100 countries. I can do the same from my bank account in A foreign bank account. Freedom = I don’t want the government to know. I don’t have anything to hide and I am perfectly fine with the government seeing to whom I send/receive my money. But bitcoin’s utility of it being a mechanism for transactions is over. It has become a mechanism to hoard wealth. The same way Tulips were used to hold wealth. The bulb will burst and it will lose that mechanism as well. That said I think crypto currencies are the future...I just don’t think it’s bitcoin...
  - mplewis 9y ago
    You don't see utility in hoarding wealth? Plenty of rich people do when they keep their money in the Cayman Islands.
  - rurban 9y ago
    Sure, for a $40 fee. No thanks.
drawkbox 9y ago
FDIC insures up to 250k so you have to spread it around to get protection above that. Not like that is a problem to most people just saying there are limits to that protection. Crypto currency accounts have some massive accounts now, not sure those would be covered much in those cases even with FDIC protection though it would be nice. If there truly was a banking crash where more banks went down than in the Great Recession, I wonder how FDIC would hold up based on how many over leveraged games were being played that led to that implosion. Crypto currency is probably a reaction to that as well, trust in banking is immensely low in history.
dang 9y ago
Could you please not post snarky dismissals to HN? This is just the sort of thing we're trying to get away from. If you have a substantive point to make, make it thoughtfully; if you don't, please don't comment until you do.

There is no right or wrong in this. Dollar and Bitcoin have their strengths and weakness. Neither is going to replace other in the near future.

kbody 9y ago

Your tone showcases your emotions. I can send bitcoins to anyone that wants to accept them, anytime. I can send my USD only if my bank permits me to do so and depending on their schedule. That's one of the core values for me, however I can see that people are used to or just fine with their current bank relationships. Thinking that it's either the one or the other that work for everyone is naive.

username223 9y ago
> Your tone showcases your emotions. I doubt you can define or explain those words, but you're welcome to try.
- dang 9y ago
  Crossing into outright incivility is definitely the wrong direction to take a discussion on HN. Please read the site guidelines and please don't do this again. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
victor106 9y ago
“I can send my USD only if my bank permits me to do so and depending on their schedule.” I can login to my online Bank of America account now and transfer money to most anyone I know in about 100 countries. I can do the same from my bank account in A foreign bank account. Freedom = I don’t want the government to know. I don’t have anything to hide and I am perfectly fine with the government seeing to whom I send/receive my money. But bitcoin’s utility of it being a mechanism for transactions is over. It has become a mechanism to hoard wealth. The same way Tulips were used to hold wealth. The bulb will burst and it will lose that mechanism as well. That said I think crypto currencies are the future...I just don’t think it’s bitcoin...
- mplewis 9y ago
  You don't see utility in hoarding wealth? Plenty of rich people do when they keep their money in the Cayman Islands.
- rurban 9y ago
  Sure, for a $40 fee. No thanks.

drawkbox 9y ago

FDIC insures up to 250k so you have to spread it around to get protection above that. Not like that is a problem to most people just saying there are limits to that protection. Crypto currency accounts have some massive accounts now, not sure those would be covered much in those cases even with FDIC protection though it would be nice. If there truly was a banking crash where more banks went down than in the Great Recession, I wonder how FDIC would hold up based on how many over leveraged games were being played that led to that implosion. Crypto currency is probably a reaction to that as well, trust in banking is immensely low in history.

dang 9y ago

Could you please not post snarky dismissals to HN? This is just the sort of thing we're trying to get away from. If you have a substantive point to make, make it thoughtfully; if you don't, please don't comment until you do.