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Maybe they caught the disease from their friends in banks
by buboard 8y ago
Maybe they caught the disease from their friends in banks
- cwyers 8y agoCanada's largest Bitcoin exchange has lost $190 million in assets because its founder died and nobody else has access to the cold storage wallets. https://www.ccn.com/190m-gone-how-canada-biggest-bitcoin-exchange-lost-it https://www.ccn.com/190m-gone-how-canada-biggest-bitcoin-exc... Traditional banks do not have the "one person died/ran away to the Bahamas/whatever and now everybody is out their deposits" problem. Banks have other problems! Banks have loads of problems. But banks have to exist in a world of piles and piles of regulations, and you have to realize is that most of those regulations exist not because regulators are bastards but in response to someone screwing over someone else in the past. Banking regulations and banking practices have evolved for reasons, and if you don't understand those reasons and try and invent banking from first principles like all the people in the wild west of crypto have been trying to do, you are going to learn real fast that there are things you did not account for.
- buboard 8y agopaypal is not crypto, and in fact in europe paypal IS a bank