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Just because you support an alternative money system doesn't mean you have to be against the concept of a bank altogether. Bank exists because people suck at pr
by oreilles 4y ago
Just because you support an alternative money system doesn't mean you have to be against the concept of a bank altogether. Bank exists because people suck at protecting their money. You don't keep cash in your house because you get breaked in. And same goes for crypto. You could get your key stolen. You could forget your passphrase. You could get hacked. And so on. Bank aren't invulnerable, but they sucks much less than average people at protecting their assets, and this is why people uses them.
- robbiep 4y agoRight. No argument from me, except that isn’t the post I’m replying to, there the poster has said that a key safeguard is having custody of it. And without this magic piece, which as op points out is quite revolutionary, you’re literally at the mercy of opaque organisations that are able to screw you over with none of the protections of the current financial system (not to say people don’t get mercilessly screwed today, but default or bank run protection is a pretty sweet deal)