5 ms·

Er, what about FDIC? The actual deposits are insured, right?

• jsoc815 8y ago
  In the event of failures: FDIC insures deposits in U.S. branches up to $250k per account, IIRC; SIPC covers securities held by brokerages, (forget the amount).
• solotronics 8y ago
  Bitcoin! nobody holds it but you and you can always transfer it no questions asked
  • freeone3000 8y ago
    No depositor lost any money in this case. The bank had trouble getting its insurance to pay up. If this was bitcoin, the money would be gone, because bitcoin does not have the same restrictive regulation scheme as united states dollars held in a united states bank.
    • krageon 8y ago
      If you store it in a long-term storage solution that makes sense (cold storage), it would not be "gone" because this wouldn't have happened.
      • freeone3000 8y ago
        Similarly, if people kept money in their mattresses instead of in banks, it couldn't be robbed from banks!