If I place money in the bank, and someone steals that money, the bank is responsible for ensuring I get my money back via their insurance
No, see this is the exact point I'm trying to make. You just assume they will be nice and fix it for you. This is still relying on a middleman, which is the exact thing you should not do, if you really prefer freedom and control over your own assets.
My car or a gold bar in my possession
Yes, because you understand how stupid it would be to let someone else guard it for you. This is why you still have full control over your car and your gold. Now treat your crypto wallet just like your car, I'm not asking you to build a garage for it and polish and vax it every year but make sure it's a hardware wallet or on a slip of paper or sheet of metal, something physical you can hide in a good place. And don't forget backups.
Try getting money back from MtGOX if you had coins stored there.
MtGOX has paid back everything that got stolen already, this was done a few years ago, and it's a perfect example of why you shouldn't trust or rely on middlemen. People who had their coins there learned the hard way.
No I’m not expecting the bank to just be nice and do that for me, I fully expect to file lawsuits along with others should a major bank screw over their customers. The difference between a crypto exchange and a bank is the bank doesn’t have anonymity. The owners and employees are known and held accountable.
We see eye to eye on possessions BEING in your possession (a slip of paper saying you own some gold is our vault is not you actually owning gold. You can either hold it and show me or you don’t own it.) The old saying used to be keeping your money under your mattress. People never used to fully trust banks and knew of their fuckery for ages, and kept their savings in their possession so it couldn’t be tampered with. I currently have very little in the bank, funds there to pay bills online etc but I prefer to have my resources secured at home. I used to try to carry $500 in cash on me in case machines went down and I needed gas for my vehicle or had to buy a new tire i wouldn’t be caught flat footed. Resource management is something they don’t seem to teach kids these days.
Unless the exchange is you handing me a steak and I hand you a box of bullets, there’s going to be a middle man. Bitcoin requires something in the middle be it the block chain itself or the server or exchange we go through to do the exchange. It’s not an elimination of a middle man it’s just a different one. It may be one you trust more than the others but no everyone trusts it that way.
The owners and employees are known and held accountable.
I have to disagree with you on this one. Here in cashless hell we have 6 major banks, if you're a member of the Russian mafia coming in with a sack of drug money in cash they roll out the red carpet for you can lick your ass, then gladly launder the money for you.
Otherwise, if you're an honest person trying to deposit cash, they just seize it and label you a drug dealer. You have no rights, guilty until proven innocent. While crypto exchanges are far from perfect, they're not nearly as bad as these 6 shitty banks.
I’m in Canuckistan so if our freedom convoy is successful maybe I’ll enjoy some freedom but for now I hear ya. Can’t trust the banks, the police, the media or the government. Schools and higher education are brainwashing libtard hell holes and honest hardworking people are harder to find and vilified when they are.
Sucks to hear about your banks all being corrupt, something needs to change but I don’t believe bitcoin will remain uncorrupted when there’s the whole world looking at it.
No, see this is the exact point I'm trying to make. You just assume they will be nice and fix it for you. This is still relying on a middleman, which is the exact thing you should not do, if you really prefer freedom and control over your own assets.
Yes, because you understand how stupid it would be to let someone else guard it for you. This is why you still have full control over your car and your gold. Now treat your crypto wallet just like your car, I'm not asking you to build a garage for it and polish and vax it every year but make sure it's a hardware wallet or on a slip of paper or sheet of metal, something physical you can hide in a good place. And don't forget backups.
MtGOX has paid back everything that got stolen already, this was done a few years ago, and it's a perfect example of why you shouldn't trust or rely on middlemen. People who had their coins there learned the hard way.
No I’m not expecting the bank to just be nice and do that for me, I fully expect to file lawsuits along with others should a major bank screw over their customers. The difference between a crypto exchange and a bank is the bank doesn’t have anonymity. The owners and employees are known and held accountable.
We see eye to eye on possessions BEING in your possession (a slip of paper saying you own some gold is our vault is not you actually owning gold. You can either hold it and show me or you don’t own it.) The old saying used to be keeping your money under your mattress. People never used to fully trust banks and knew of their fuckery for ages, and kept their savings in their possession so it couldn’t be tampered with. I currently have very little in the bank, funds there to pay bills online etc but I prefer to have my resources secured at home. I used to try to carry $500 in cash on me in case machines went down and I needed gas for my vehicle or had to buy a new tire i wouldn’t be caught flat footed. Resource management is something they don’t seem to teach kids these days. Unless the exchange is you handing me a steak and I hand you a box of bullets, there’s going to be a middle man. Bitcoin requires something in the middle be it the block chain itself or the server or exchange we go through to do the exchange. It’s not an elimination of a middle man it’s just a different one. It may be one you trust more than the others but no everyone trusts it that way.
I have to disagree with you on this one. Here in cashless hell we have 6 major banks, if you're a member of the Russian mafia coming in with a sack of drug money in cash they roll out the red carpet for you can lick your ass, then gladly launder the money for you.
Otherwise, if you're an honest person trying to deposit cash, they just seize it and label you a drug dealer. You have no rights, guilty until proven innocent. While crypto exchanges are far from perfect, they're not nearly as bad as these 6 shitty banks.
Enjoy living in a free country while it lasts.
I’m in Canuckistan so if our freedom convoy is successful maybe I’ll enjoy some freedom but for now I hear ya. Can’t trust the banks, the police, the media or the government. Schools and higher education are brainwashing libtard hell holes and honest hardworking people are harder to find and vilified when they are. Sucks to hear about your banks all being corrupt, something needs to change but I don’t believe bitcoin will remain uncorrupted when there’s the whole world looking at it.