or any powerful actor...even a controlling family member
I know this yet I always seem to not think of it. This is a huge use-case. Thank you for reminding me. I am sending myself reminders for the next couple of weeks to think more about this.
And I think Bitcoin is a very long way from winning the convenience race.
I'm not convinced that it must. If you have no need or desire to "be your own bank", then you don't have to be. But the downside of not being your own bank in Bitcoin will always be bigger than the same in some government issued money.
For example, even if we were to get truly insured balances from multiple insurance companies / banks that actually compete, the Bitcoin insurance will always be more expensive than that for something that can safely be fractionalized (and thus dilutes.)
it means that all the people working on cool and exciting bitcoin products may struggle to find the sexy chandelier-swinging out of control growth they want.
Sure, but I feel like every bear market there are too many people that need to be reminded of taking the long view (and the low time preference)
I know this yet I always seem to not think of it. This is a huge use-case. Thank you for reminding me. I am sending myself reminders for the next couple of weeks to think more about this.
I'm not convinced that it must. If you have no need or desire to "be your own bank", then you don't have to be. But the downside of not being your own bank in Bitcoin will always be bigger than the same in some government issued money.
For example, even if we were to get truly insured balances from multiple insurance companies / banks that actually compete, the Bitcoin insurance will always be more expensive than that for something that can safely be fractionalized (and thus dilutes.)
Sure, but I feel like every bear market there are too many people that need to be reminded of taking the long view (and the low time preference)