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If you can't hold it in your hot little hand, it does not exist. This also applies to your money and other valuables held by third parties such as Banks or Trus
by simonblack 6y ago
If you can't hold it in your hot little hand, it does not exist. This also applies to your money and other valuables held by third parties such as Banks or Trusts, or wealth stored as numbers in a computer.
Unless you hold and control it personally, it's not yours at all.
While it's definitely convenient in good times for your wealth storage to be in the hands of others, you're completely dependent on the goodwill of those others. In bad or difficult times, you're not going to keep that wealth for very long.
- EForEndeavour 6y agoPointing out that you don't technically own the money in your conventional bank's chequing account is a mere distraction from the fact that in the real world, it's easier to permanently lose access to your cryptocurrency than it is to permanently lose access to your bank account.