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"Look, idiot, if you do not perfectly follow all of this op sec, your money could disappear at literally any moment. In which case, sucks to be you. Oh, and als

"Look, idiot, if you do not perfectly follow all of this op sec, your money could disappear at literally any moment. In which case, sucks to be you. Oh, and also those crypto exchanges where people leave their money - those also have a good chance of disappearing in the night. Best to keep it under the digital equivalent of your mattress." I will stick with a bank which is regulated to protect my money, and heads will roll if funny business happens.

uoaei 3y ago
> heads will roll if funny business happens To be fair, a lot of the crypto hype is predicated, if indirectly, on how few heads roll when (barely quasi-legal) funny business happens through official institutions.
- RHSeeger 3y ago
  A. "I lost my money while it was in my bank... I got it back, but nobody got in trouble!" B. "I lost my money while it was in crypto... I didn't get it back and nobody got in trouble!" I'm not really sure B sounds like much of an improvement over A.
  - uoaei 3y ago
    I'm not saying they're right, just saying that "regulations will help" won't really be a big selling point for those who already have lost trust in such institutions.
worksonmine 3y ago
> I will stick with a bank which is regulated to protect my money, and heads will roll if funny business happens. When did that ever happen? Did even a single head roll for the bullshit with subprime mortgages? Some people get a bonus when the scam is big enough.
- chrismcb 3y ago
  Well some banks went out of business.
suckitsam 3y ago
I too love my bank which, like most others, is known for its lack of funny business, owing to the regulations that it definitely doesn't skirt at every opportunity (otherwise its execs would go to jail for doing crimes, obviously)
- thrill 3y ago
  Like all those Wells Fargo execs? Uh huh.
- fbdab103 3y ago
  Probably a poor choice of words, but with a bank I have strong assurances that my account will not be drained tomorrow without possibility of recourse. The government went above and beyond (generating moral hazard) in protecting SVB clients.

uoaei 3y ago

> heads will roll if funny business happens To be fair, a lot of the crypto hype is predicated, if indirectly, on how few heads roll when (barely quasi-legal) funny business happens through official institutions.

RHSeeger 3y ago
A. "I lost my money while it was in my bank... I got it back, but nobody got in trouble!" B. "I lost my money while it was in crypto... I didn't get it back and nobody got in trouble!" I'm not really sure B sounds like much of an improvement over A.
- uoaei 3y ago
  I'm not saying they're right, just saying that "regulations will help" won't really be a big selling point for those who already have lost trust in such institutions.

worksonmine 3y ago

> I will stick with a bank which is regulated to protect my money, and heads will roll if funny business happens. When did that ever happen? Did even a single head roll for the bullshit with subprime mortgages? Some people get a bonus when the scam is big enough.

chrismcb 3y ago
Well some banks went out of business.

suckitsam 3y ago

I too love my bank which, like most others, is known for its lack of funny business, owing to the regulations that it definitely doesn't skirt at every opportunity (otherwise its execs would go to jail for doing crimes, obviously)

thrill 3y ago
Like all those Wells Fargo execs? Uh huh.
fbdab103 3y ago
Probably a poor choice of words, but with a bank I have strong assurances that my account will not be drained tomorrow without possibility of recourse. The government went above and beyond (generating moral hazard) in protecting SVB clients.