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by ur-whale
1406 days ago
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> Why is this all happening? It's happening because people use banks to store their wealth instead of doing self-custody. Cyprus, Argentina, various east block countries in the 80's, etc... How much more proof do you need? Storing your wealth in a Bank is a bad move, independently of the country you live in, and especially in 2022 where you earn exactly zero on interests in most places. Lebanon is just an extreme example of why it's a bad move. |
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Self Custody of digital currencies is tricky in different ways. What if you forget your 12 words seed phrase? Then your life savings are gone as well..
For background on Lebanon: https://bitcoinmagazine.com/culture/bitcoin-should-be-the-sa...