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Except that you don't really own the stock. In almost every instance when you buy or sell securities with a broker, your name is not actually on the stock or bo
by digitalengineer 13y ago
Except that you don't really own the stock. In almost every instance when you buy or sell securities with a broker, your name is not actually on the stock or bond certificate. The name that appears on the certificate is that of your broker, and this is referred to as being held "in street name".Ask the people who were MF Global clients how much rights they had after the meltdown. E.g. none. They got to line up at the end of the queue of debtors.
Bitcoins is more like stocks with Direct registration.
- oleganza 13y agoBitcoin is even better. You own it completely privately without even "direct registration" with any one third party, even the government registry like in case of stocks. Paper USD that you own is "direct registration" and it still does not belong to you. Government takes a bite from it when it wants by printing more paper dollars like yours. You can only own physical stuff like paper of the dollar itself (but not the value), and Bitcoin. Everything else is promises, not ownership. http://blog.oleganza.com/post/67362431718/you-can-own-bitcoin-you-cant-own-your-dollars http://blog.oleganza.com/post/67362431718/you-can-own-bitcoi...