07-26-2020, 10:08 PM
Can we discuss "Be your own bank" and why it will never happen full scale?
<!-- SC_OFF --><div class="md"><p>One of the biggest pro arguments about crypto is "be your own bank", meaning you should be in charge of your funds and nobody should be able to stop you from your decisions. According to this post there is no reason for people to have so much power over their finance.</p> <p><a href="https://www.theblockcrypto.com/post/72200/coinbase-says-it-prevented-over-1000-customers-from-sending-280000-worth-of-bitcoin-to-twitter-hackers">https://www.theblockcrypto.com/post/72200/coinbase-says-it-prevented-over-1000-customers-from-sending-280000-worth-of-bitcoin-to-twitter-hackers</a> </p> <p>Those centralized institutions saved more than 1000 people from their stupidity. While 1000 seams not a lot of people in the world, we still have mostly people in the space that are tech savy. So this number can only go up if we would ever reach world wide adoption.</p> <p>​</p> <p>But lets assume there is a law or some event happening and everybody in the world has to use a crypto wallet for their finances. Do you think people, especially older ones, would be comfortable with all their life savings on hand? One bad decision or error and all gone. One bad actor scamming or mugging them. And in a blink of an eye all gone?</p> <p>What do you think about this?</p> </div><!-- SC_ON --> Kind Regards R
<!-- SC_OFF --><div class="md"><p>One of the biggest pro arguments about crypto is "be your own bank", meaning you should be in charge of your funds and nobody should be able to stop you from your decisions. According to this post there is no reason for people to have so much power over their finance.</p> <p><a href="https://www.theblockcrypto.com/post/72200/coinbase-says-it-prevented-over-1000-customers-from-sending-280000-worth-of-bitcoin-to-twitter-hackers">https://www.theblockcrypto.com/post/72200/coinbase-says-it-prevented-over-1000-customers-from-sending-280000-worth-of-bitcoin-to-twitter-hackers</a> </p> <p>Those centralized institutions saved more than 1000 people from their stupidity. While 1000 seams not a lot of people in the world, we still have mostly people in the space that are tech savy. So this number can only go up if we would ever reach world wide adoption.</p> <p>​</p> <p>But lets assume there is a law or some event happening and everybody in the world has to use a crypto wallet for their finances. Do you think people, especially older ones, would be comfortable with all their life savings on hand? One bad decision or error and all gone. One bad actor scamming or mugging them. And in a blink of an eye all gone?</p> <p>What do you think about this?</p> </div><!-- SC_ON --> Kind Regards R