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>Those strengths are also weaknesses. No one wants to risk losing millions of dollars worth of currency overnight, just because they were outsmarted by some com
by fnordfnordfnord 14y ago
>Those strengths are also weaknesses. No one wants to risk losing millions of dollars worth of currency overnight, just because they were outsmarted by some computer hacker.
Why do people keep repeating this crap as a reason for the impending failure of Bitcoin? People didn't abandon cash or even banks because of John Dillinger.
- jellicle 14y agoYou may want to read up a little. People did and do abandon banks en masse if they suspect their money is not safe. "The FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s. As the FDIC celebrates its 75th anniversary, we present a historical perspective on the rich history of protecting consumers." http://www.fdic.gov/about/history/index.html http://www.fdic.gov/about/history/index.html http://en.wikipedia.org/wiki/Bank_run http://en.wikipedia.org/wiki/Bank_run
- fnordfnordfnord 14y agoYeah, I've heard of the FDIC, it's no magic bullet, and it wasn't created to insure people getting mugged in the street.