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> The moment you [...] want to liquidate your bitcoin [...] you indirectly involve traditional banks Not necessarily, you could liquidate f2f with another pers
by waytogo 9y ago
> The moment you [...] want to liquidate your bitcoin [...] you indirectly involve traditional banks
Not necessarily, you could liquidate f2f with another person providing you cash. Just think of the worse case, stock crash, bank crash, etc. Then, it's good to have BTC in your wallet. They are accepted and easily transferred, without any bank).
- tolle 9y agoWell an actual worst case scenario also brings down your internet connection. Without banks various internet providers wouldn't be able to pay each other for connections. I mean they could theoretically let each other communicate for free. But we're talking ISPs and such.
- waytogo 9y ago> Well an actual worst case scenario also brings down your internet connection. Not sure if we talk about the same: The last worst case scenario was 2008 (stock crash, banks went bankrupt) but the Internet was still fine.
- deadmetheny 9y agoDo Bitcoin nerds really think people are going to liquidate 5 figures of Dunning-Krugerrands in person? Get real.
- waytogo 9y agoIt's not about liquidation in person—it's about that you could and this would keep BTC's value stable in times when stock/banks/currencies crash (in a worst case scenario).