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This is a mentality problem with America. I find banks to be terrible and high friction institutions. I don't trust that it is 'federally insured' as you are on
by cmdrfred 12y ago
This is a mentality problem with America. I find banks to be terrible and high friction institutions. I don't trust that it is 'federally insured' as you are only insured to what their database/multi-page legal policy/management says you have in the account in the first place. So the system doesn't work for me. I'd love a system like bitcoin, a system that gives me the freedom to move my money as I see fit, on my terms, without a fee because I don't have enough of it. But you will always have people like above, who complain that such a system exposes me to 'risk' and because of that I shouldn't be allowed to make a informed decision in how I wish to store my money.
- JoeAltmaier 12y agoYou say the system doesn't work for you, but in fact it does. You're insured whether you like it or not. Bitcoin exchanges aren't free, right? They have to make their money. They will end up working almost identically to the way banks work. Or they will go out of business.
- cmdrfred 12y agoI'm not. I use cash. I'm too poor to always keep a few hundred dollars around and wait for them to make a 'policy change' that now doubles the minimum and have them take my money. I simply don't have the time to read the dozens of spam notices about 'free life insurance' they send me as well as the notices about the changes in policy. Bitcoin already has a transaction fee built it, its reasonable and value-added. I have no problem for paying for a service that gives me value. I can handle myself in the real world, If I give money to someone who steals it from me? My bad, I'll eat my mistake. Don't steal from me and tell me its for my own protection.
- ubersync 12y agoI can't see why you are being downvoted. You are making a valid argument in the current discussion.