Banks Are Fleeing Crypto. Bitcoin Investors Should Be Worried

Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by 93po on Tuesday January 10, 2023 @12:33AM (#34320914)

Compelling against the US dollar which is "printed" by the trillions and is constantly losing value based on arbitrary decisions of people with effectively no accountability

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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by Nursie on Tuesday January 10, 2023 @03:03AM (#34321857)

Good job nobody's advising you to invest in dollars then!

FYI the 'trillions printed in the last two years!' line is a meme, not a reality, and those running the currency are accountable democratically, in a way that cryptobros are not.

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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by hem777 on Tuesday January 10, 2023 @05:57AM (#34322994)

Those running crypto networks are accountable legally. Those running the currency are not.

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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by Nursie on Tuesday January 10, 2023 @07:47AM (#34324023)

I think you have that backwards.

Those running the currency are accountable to the democratic system of the countries they operate within, even if they are not directly elected.

Those running Bitcoin mining and nodes are accountable to nobody.

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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by oblio on Tuesday January 10, 2023 @07:52AM (#34324068)

> Those running crypto networks are accountable legally.

How? Aren't 99% of cryptocurrencies unregulated, ergo Ponzi schemes, pump and dump, trades by the same (hidden) identity? That's also a feature why a lot of people and finance institutions are drawn to them.

Plus, did anyone take to account Ethereum, for example, for forking it?

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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by 93po on Tuesday January 10, 2023 @11:49AM (#34327656)

> those running the currency are accountable democratically

Except they can't be fired, and there's absolutely zero pressure for a presidential candidate/sitting president to hold this person accountable.

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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by shapefrog on Tuesday January 10, 2023 @05:11AM (#34322667)

The thing is banks dont have lots of their own money, why would they give a shit about the value of the unit they do their accounting in?

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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by eli on Tuesday January 10, 2023 @09:35AM (#34325429)

I don't even understand what you're arguing for. Accounts at the bank would still be denominated in dollars, right?

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