Obviously alot of us support the idea of a decentralized currency.
But what happens if SOMEHOW, the bitcoin currency crashes. (BTC $ is not insured and you lose it all)
Or if you pay someone with BTC and never receive your product. (the transanction is irreversible) so is the buyer just screwed.
I understand that we all dont like the money printing happening in the world. But dont you think having FDIC insurance at the bank, and having a little protection is better than having none at all with BTC.
Thoughts pls.
Of course the exchange rate could crash/correct -- this has been a
huge rally, and may keep on climbing. It's happened before. We went from $32 to $2 in the past -- something like that, anyway.
Sure, there's shady businesses. There are also reputable ones. As BTC becomes more mainstream, having a strong reputation becomes much more important than making a quick buck.
Eventually, there may be real bitcoin banks with proper licensing, insurance and brick-and-mortar presence...