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Mark T. Tomczak

· Föderation EN Di 11.02.2025 17:10:40

@molly0xfff I have people who don't know much about computers ask me about Bitcoin, and I don't always know what to tell them.

One point I try to emphasize with them is "If you forget your bank password, you can walk into a physical branch and the bank will let you access your money. And if your bank collapses, the Federal Government will make sure you get your money out of it, to the tune of $250,000. If you lose your Bitcoin password, or if someone tricks you into sending BTC somewhere and doesn't deliver, or if you're holding BTC in an exchange and the exchange goes rogue or collapses? Money's gone."

(... unfortunately, I have to modulate that bit about the FDIC insurance these days with "Of course, with Trump in charge, who the fuck really knows" so I can understand people wanting to shift their backstop assets out of the USD).