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Shibenaut t1_j1zcfak wrote

I just spent 3 weeks trying to wire money to my wife, and my bank held my money the whole time saying "we are trying to verify identity/purpose of transaction", all the while earning interest with my money. I had no way of cancelling the wire transfer while they were investigating.

If I had sent a transfer via BTC or a stablecoin like USDC, the transaction would've taken at most 1 hour, and there's no middleman to freeze my funds.

Self custody and blockchain are here to stay because fuck the banks for being overbearing middlemen. As soon as people realize how much freedom they have with crypto, it's game over for banks.

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Aquillyne OP t1_j20mi6b wrote

Freedom is another one of those abstract advantages that will never trump the real advantage of safety. Yes you are free and that’s a principle you can enjoy. Zero recourse when something goes wrong: that’s a reality people will detest. Which will be the more powerful force? I argue that the freedom you mention will never trump the safety of centralised fiat (and other related benefits) for the average person.

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Revenant690 t1_j217zw3 wrote

Safety to lose 10% of your buying power per year due to the constant devaluation of the currency by the issuer

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Aquillyne OP t1_j21ny8r wrote

Inflation is inherent to the economic world order it’s nothing to do with whether we are using crypto or fiat. Crypto inflates and deflates like crazy bananas anyway, so don’t really see your point there!

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