P18g4rKns6Q

3 ms·

1.
by P18g4rKns6Q 5y ago
Thank you for walking your comments back, I never claimed to have a "right" to earn interest. > You have to weigh the risk of theft vs the financial losses Exchanges provide compound interest, but are vulnerable to hacks, in wa
2.
by P18g4rKns6Q 5y ago
Then "Bitcoin makes banks obsolete" is not true; banks provide safe, interest-yielding accounts. You're arguing that we should not keep coins on exchanges because they could be taken advantage by criminals who are "restr
3.
by P18g4rKns6Q 5y ago
I never said they had that right. Your belief that "Bitcoin makes banks obsolete" will not be true until there are safe alternatives for compound interest on investments. https://news.ycombinator.com/item?id=288351
4.
by P18g4rKns6Q 5y ago
My understanding was that BTC was to provide permissionless transactions on a public ledger, not replace "the social technologies developed over the length of human history for securing property." Those social technologies haven&#
5.
by P18g4rKns6Q 5y ago
We're not just talking about BTC though, one exchange is offering over 7% APY on DAI. Stablecoins don't gain 100% per year, they lose to inflation. Shouldn't crypto investors have a safe place to earn interest? "Don’t le
6.
by P18g4rKns6Q 5y ago
Cryptsy (and Coinbase) in 2013-14 were the wild west compared to today, I don't believe either had 2FA and if they did it was SMS-based. Neither had licenses, KYC, things like that. You could also argue the opposite: there are many mor
7.
by P18g4rKns6Q 5y ago
The thing is, now there are a lot of ways to earn interest on your crypto holdings, not just yield farming but simple products like exchanges offering compound interest on your balances. You have to weigh the risk of theft vs the financial