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> How is the USD worth anything after some many bank robberies? Well, because in bank robberies, it is the bank losing money, not the customers - this is exact
by simiones 8y ago
> How is the USD worth anything after some many bank robberies?
Well, because in bank robberies, it is the bank losing money, not the customers - this is exactly what bitcoin is missing.
- lawn 8y agoNo, it is in fact the exchanges that are losing money. In this case the customer funds are insured and they will not lose any funds. > this is exactly what bitcoin is missing What you mean to say is this is what many cryptocurrency exchanges are often missing, which I agree with.
- ForHackernews 8y agoThey're not really insured: the exchange has claimed they have a self insurance fund (they call it 'SAFU') that they will draw on to make their customers whole. We'll see if that happens.