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The safest place to store money is self-custody, and we have that today. Nothing can possibly come close because it involves storing value with key escrow, trus

The safest place to store money is self-custody, and we have that today. Nothing can possibly come close because it involves storing value with key escrow, trusting third parties. The very thing Satoshi invented this to avoid. Bitcoin does not yield any interest by itself, so it is not possible to earn interest risk free. It’s an incentive for third parties to take custody of your coins (where they will be stolen). I think I stand by my previous statements :-)

P18g4rKns6Q 5y ago
Then "Bitcoin makes banks obsolete" is not true; banks provide safe, interest-yielding accounts. You're arguing that we should not keep coins on exchanges because they could be taken advantage by criminals who are "restrict[ing] your ability to lead your [interest-earning financial] life." This is in direct contrast to your previous statements.
- randomhodler84 5y ago
  That comment was more referring to using and self-custody of monero, which may have some users who use it for crime, just like all money. It’s about not making blanket moral decisions about a thing you perceive as icky, to your own financial detriment. hold your coins close to your heart. You have no right to earn interest on Bitcoin. It’s not in its cryptoeconomic model, it is an overlay at best that introduces risk. Historically, interest was actually religiously banned. It was only corruption from the ProtoBankers that made you believe you were entitled to it.
  - P18g4rKns6Q 5y ago
    Thank you for walking your comments back, I never claimed to have a "right" to earn interest. > You have to weigh the risk of theft vs the financial losses Exchanges provide compound interest, but are vulnerable to hacks, in ways unlike self-custody. Every possible action you take in your life could be taken advantage by criminals. Do you want to let that restrict your ability to lead your life?

P18g4rKns6Q 5y ago

Then "Bitcoin makes banks obsolete" is not true; banks provide safe, interest-yielding accounts. You're arguing that we should not keep coins on exchanges because they could be taken advantage by criminals who are "restrict[ing] your ability to lead your [interest-earning financial] life." This is in direct contrast to your previous statements.

randomhodler84 5y ago
That comment was more referring to using and self-custody of monero, which may have some users who use it for crime, just like all money. It’s about not making blanket moral decisions about a thing you perceive as icky, to your own financial detriment. hold your coins close to your heart. You have no right to earn interest on Bitcoin. It’s not in its cryptoeconomic model, it is an overlay at best that introduces risk. Historically, interest was actually religiously banned. It was only corruption from the ProtoBankers that made you believe you were entitled to it.
- P18g4rKns6Q 5y ago
  Thank you for walking your comments back, I never claimed to have a "right" to earn interest. > You have to weigh the risk of theft vs the financial losses Exchanges provide compound interest, but are vulnerable to hacks, in ways unlike self-custody. Every possible action you take in your life could be taken advantage by criminals. Do you want to let that restrict your ability to lead your life?