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by simiones 2601 days ago
> How is the USD worth anything after some many bank robberies?

Well, because in bank robberies, it is the bank losing money, not the customers - this is exactly what bitcoin is missing.
1 comments
lawn 2601 days ago
No, it is in fact the exchanges that are losing money. In this case the customer funds are insured and they will not lose any funds.

> this is exactly what bitcoin is missing

What you mean to say is this is what many cryptocurrency exchanges are often missing, which I agree with.

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ForHackernews 2601 days ago
They're not really insured: the exchange has claimed they have a self insurance fund (they call it 'SAFU') that they will draw on to make their customers whole. We'll see if that happens.
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