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> Why would I want to put my money into something "decentralized" when my bank does a fine job? Because you trust that your money will still be in the bank, in
by glitch003 9y ago
> Why would I want to put my money into something "decentralized" when my bank does a fine job?
Because you trust that your money will still be in the bank, in full, when you want to withdraw it. People in Cyprus, Venezuela, and Zimbabwe don't have that trust because it's been broken by bailouts and hyperinflation.
As long as the economy doesn't hyperinflate, and the banks don't haircut your accounts, and the IRS doesn't freeze your funds, and the government doesn't use civil forfeiture to take your money because they suspect you could be involved in criminal activity, your money is safe.
Therefore, many people see holding cryptocurrency as a hedge against that type of stuff.