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Author Topic: Difficulty in regularizing cryptocurrencies in current governments  (Read 152 times)
Gyfts
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May 13, 2022, 01:25:35 PM
 #21

Are you serious? I haven't seen too many people getting their bank accounts get hacked, in fact I have never heard such a thing before whereas I have seen plenty of crypto projects get hacked constantly. I do not agree with your point of view, I believe that you are wrong about that. I still prefer custodial wallets with crypto inside, over banks with fiat inside but the reason for that is crypto vs fiat not wallet vs bank.

If we could have banks that can hold our crypto, I would put my crypto into my bank account because I am 100% certain that the bank would secure it better than binance or any other exchange and even custodial wallets could.

Online banking systems get hacked all the time. Usually because everything is so centralized, it's easy to get the funds recovered or reversed so it's an easier path to recovery than irreversible crypto's. Doesn't mean people don't still lose money because of their foolishness.

Why would you rely on a bank to hold your crypto currency? Banks, online exchanges, neither serve any real purpose for security. They're merely an illusion giving people a false notion of safety. You can trust yourself, if no one other. You should be your own bank.
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May 13, 2022, 02:14:32 PM
 #22

The trend of hacker attacks on cryptos and why many governments don't accept cryptos?
They can’t totally accept cryptocurrency simple because they can’t control but some countries left no choice but to adopt and regulate crypto, because if they don’t for sure they will lose their control to their people. Cryptocurrency is a revolutionary currency, this give many people access to financial market and sooner or later government will have to do everything just to collect taxes, and we should be ready for that.
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