You’re clearly still in the honeymoon phase, so I won’t argue further. I know how Bitcoin works and all my points stand. In any case, this thread isn’t about crypto, but about banking. As the other person noted, having credit cards in your home is obviously not the same as BTC keys…
I’m a bit torn on Bitcoin. I used to think the same as you, but now it seems to me that Bitcoin is way too easy to control. State actors could quite easily acquire enough hash power to take over the network, mining is too concentrated already. I think Monero is much more true to the original idea of Bitcoin, probably also one of the reasons it’s always branded as a coin for criminals, to prevent people from looking into it.
It’s also, unfortunately, just not that practical. Most people don’t want to be their own bank. Your “unless you fuck up” is not quite true, what do you do if someone breaks into your house and threatens to shoot you if you don’t hand over your keys? That’s the true purpose of a bank, outsourced security.
While crypto is cool, it’s not required to solve this, full-reserve banking would be sufficient.
Not really, the US model is just a particularly dumb model of democracy
Did you feel like you were riding a flying carpet?
Banks are the largest mafia on the planet. They literally have a license to print money. Not even the government can do this. When things go south, they are bailed out with our money. Even after the worst crisis, they have a ridiculously low capital requirement of 2.5%.
Never expect criminal scum to just accept one of their sources of income being taken away.
I wear glasses, using the same headphones since 5 years and they never caused any damage. All the recommendations saying “just get new ones” are pure consumerism and what got us into this state of filling up our oceans with rubbish. Buy quality headphones not cheap crap and you won’t have this issue.
No it doesn’t. The government has nothing to do with the money supply (as long as the CB is independent). Central banks create currency, commercial banks borrow from the central bank and create by far the largest part of money supply by giving loans.