[raesene9]

We have that with existing currencies in most countries. My bank will implement a journal and double-entry bookkeeping system, along with internal fraud controls to reduce the risk of a single staff member defrauding me.

There are then external controls (banking ombudsman, the police, the judiciary) if the bank decides to take my money from me.

Also in the country I live in (the UK) there is a government guarantee, that even if my bank fails entirely, up to £75000 I'll get my money back.

For all practical purposes, my bank is very unlikely to try and take my money from me like that.

whilst cryptocurrencies might in isolation provide that immutability, in practice we have seen several cases where trusted parties involved in the cryptocurrency ecosystem have taken currency from participants in their marketplaces.

I'd be willing to wager that the risks of me losing money to a traditional fiat fraud are far lower than my risks of making use of cryptocurrencies in practice given the current state of regulation of the exchanges that are used.