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You should be trusting no one. Your money should be a push system. You should push money to someone else instead of giving them they keys and they take the mone
by qwertay 8y ago
You should be trusting no one. Your money should be a push system. You should push money to someone else instead of giving them they keys and they take the money out.
- imustbeevil 8y agoI'll trust whoever I want, and that includes the FDIC insured banking system. This is an incorrect use of the term "should" which implies obligation. I have zero obligation to go through life without trusting anyone, because I consider that a worse life than one where I make calculated decisions about who I believe to be trustworthy, as all sane adult humans do. I imagine your alternative is some cryptocurrency that becomes worthless as soon as people stop running the nodes. Yeah, that definitely has less risk than a legal financial entity backed by the United States Government.
- qwertay 8y agoMy alternative is not some cryptocurrency. I would be happy if credit cards moved to a system where I get a message requesting a charge and I reply to authorize it. Also cash is pretty much a push system, you hand the money to the store instead of telling them where your pocket is and letting them pick what they need. Unfortunately that doesn't work online.