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[–] MolochHunter ago  (edited ago)

exactly

you control the exchanges. Ppl dont HAVE to use the exchanges, but they need to be more tech savvy. So ur 60 yr old mum isnt exactly going to put her savings into crypto unless its in a smoothed out more friendly format like an exchange

and then you're back with the same effective 3rd party liability as holding your cash in a fractionally reserved bank

only the volatility changes, and thats a double edged sword 60 yr old mommy aint gonna be savvy in taking advantage of