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Who needs things like FDIC insurance anyways /s
by banachtarski 7y ago
Who needs things like FDIC insurance anyways /s
- pbourke 7y agoYou’re assuming that they live in the US.
- ben509 7y agoFunny thing is, FDIC is insuring you against the bank collapsing, not your bank accounts from theft. I don't think you can even do that, since protecting your deposits against theft is supposed to be the service your bank provides. You can insure cash with most homeowner's policies, though.
- klodolph 7y agoThis is called “bank fraud”. In general, no need for you to insure against this because the bank has to eat the loss.
- mindslight 7y agoMakes sense when you're eliminated the risk that FDIC insurance covers...
- war1025 7y agoFDIC insurance only counts towards bank accounts. You aren't going to get any reasonable interest rate in an FDIC insured account. Keeping your money in bitcoin may be a poor idea, but any reasonable long-term investment strategy isn't going to be FDIC insured, so that isn't really part of the calculation.
- chabes 7y agoNot someone who doesn’t have to ask permission to spend their own money. FDIC is meant to protect deposits in banks. If I don’t need to trust a bank, why would I need FDIC?