Replying to Avatar hh

Re: self-custody.

For real, just drop it. I know. I agree. But just think what you people are saying: "The current system is already cumbersome, people are just stuck with the familiar and reject the discomfort of what's new".

Yes, but in the current system, unless you're wealthy, you're covered by insurance. And then again, if you're wealthy enough not to be covered, you're probably sophisticated enough for self-custody already, or can afford to pay people to be sophisticated for you.

It's very simple: if my mom's bank "loses" her money, she gets it back. If she loses the keys to her BTC, she doesn't. And that applies to absolutely everybody in my immediate circle. I literally know no one around me who has more than €100k cash in a bank account.

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w3ird_ 2y ago

nothing like depending on the government to bail you out. plus tell that to the people caught up in the SVB debacle. even the rich are bailed out. the whole system depends on the government and the currency not collapsing. 250k used to be unfathomable. not so much anymore given inflation. it's gonna get worse.

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hh 2y ago

I don't doubt it. I'm talking about right here, right now though.

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