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If you cannot trust a single third party to hold your money, it's no better than cash under the mattress. We have guard rails in banking for a reason.
by mmastrac 4y ago
If you cannot trust a single third party to hold your money, it's no better than cash under the mattress.
We have guard rails in banking for a reason.
- ekianjo 4y agobanking is for fiat currencies whose value halves ever dozens of years. you dont have to worry about bank robbers. inflation does the same thing.
- rco8786 4y ago> whose value halves ever dozens of years This seems demonstrably better than halving over 6 months...
- jonnycomputer 4y agoOr six hours. Looking at you not-stable coin.
- sweetbitter 4y agoHm, I am not quite sure I understand. Are you saying that people should not have the ability to withdraw their USD into cash either? Cryptographic currencies are exactly the same thing imo- they are not meant to replace trusted third parties in the traditional sense, they are just the digital equivalent of cash. A cryptocurrency wallet is far closer to a physical object than being a 'promise' from networks of trusted authorities. Apples and oranges.