Reply to post: Re: Self Interest, Public Interest

China all but bans cryptocurrencies

jtaylor

Re: Self Interest, Public Interest

"No, they aren't safe: there are countless examples of banks acting as criminals"

Financial deposits in a (US) bank are insured by FDIC. Credit unions have NCUA.. Depositors are guaranteed to get their deposits back (up to a limit). In financial terms, that's "safe." Your "countless examples" failed to include even one.

"Banks never lose."

My bank was put into administration and the US government found another bank to take over the accounts. By any measure I would use, that bank did indeed "lose."

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