For storing your money?
Let's not fool ourselves. Banks are infinitely safer at this point in time. Sure, we can all spread FUD about how evil and insecure they are, but in a bank, our money is Federally ensured regardless of the circumstance.
Let's not fool ourselves. Banks are infinitely safer at this point in time. Sure, we can all spread FUD about how evil and insecure they are, but in a bank, our money is Federally ensured regardless of the circumstance.
Tell that to Cypriot or Greek
My apologies, sometimes I forget this is a global forum.
I cannot speak for everyone on earth, but in the United States, your money deposited into banks are Federally ensured (up to $250,000 I believe). This is infinitely more secure than the 0 insurance associated with a Bitcoin wallet.
And when the banks introduce negative interest rates to save themselves again?
I was not aware this has ever taken place in the US? Of course, there were a lot of banking/credit issues that led to the Great Depression in the 40s, but in response a lot of regulations and safety nets were added in order for the public to regain faith in the banking system. And I do believe that there has not been anything in the form of negative interest rate since that depression.
You are correct - but negative interest rates are spreading across Europe - and there has been much talk of "banning cash", from both the European and American sides of the Atlantic. It is a real risk - as is inflation. Of course BTC hasn't shown that is an effective hedge against inflation yet, even though it was designed that way. I can tell you this much however, fiat money kept in a bank account deflates more than what you earn in interest.
