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Can we all take a moment to appreciate the irony here? You're enthused about dealing with cryptocurrencies for reasons of being insured by a centralized, third

• nerdponx 9y ago
  It's ironic, but I don't feel too bad about it. 1. For all of the things we mistrust the US government for, the FDIC is, as far as anyone can tell, rock-solid. If, by some catastrophe, the FDIC were no longer able to ensure deposits, we would likely all have much bigger problems than trying to get your cash out of GDAX. 2. It spreads risk. GDAX itself is a centralized authority. Instead of putting all my trust in one entity, I now only need one of GDAX or the SEC or the FDIC to be functional. 3. It brings legitimacy. For better or worse, your average person is not a crypto cyber hippie, and neither are executives at most traditional companies. If we are to start seeing crypto currency actually become useful as currency in the USA, rather than just the speculation instrument, we need adoption by both average people and business executives. When they see that one of the top exchanges is based in the USA, and is fully certified and regulated by the US government, it ought to help allay some fears about the safety and usefulness of digital currency. 4. Some things I don't trust the US government for any further than I can throw it. Other things, I trust it pretty thoroughly. This falls in the latter category.