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<p>[QUOTE="Blaubart, post: 1684025, member: 37498"]Sure, people get robbed every day. They get robbed for $10, $20, $50. Very rarely do they get "robbed" of $250,000 in cash, so I still think the ratio is smaller for cash versus bitcoins. Especially when you consider just how much money is in the banking system. Think <i>all</i> deposits, including those that have been loaned out. If a bank has $50 million in deposits and $45 million loaned out, we're talking about a liability of $50 million, not $5 million. Also think about all retirement accounts: 401ks, IRAs, state pension funds, etc. Since the value of the bitcoin fluctuates wildly, why not also lump in all the money in the NYSE? ($15 trillion by some estimates, some of which is held through 401ks, IRAs and pension funds, so there's some duplication there, but still.)</p><p><br /></p><p>The bulk of dollars is held in these types of accounts, not in people's wallets. Just like the bulk value of Bitcoins aren't held in physical tokens in people's pockets, they're held online. So when you're talking about people getting robbed, that's truly an insignificant amount.[/QUOTE]</p><p><br /></p>
[QUOTE="Blaubart, post: 1684025, member: 37498"]Sure, people get robbed every day. They get robbed for $10, $20, $50. Very rarely do they get "robbed" of $250,000 in cash, so I still think the ratio is smaller for cash versus bitcoins. Especially when you consider just how much money is in the banking system. Think [I]all[/I] deposits, including those that have been loaned out. If a bank has $50 million in deposits and $45 million loaned out, we're talking about a liability of $50 million, not $5 million. Also think about all retirement accounts: 401ks, IRAs, state pension funds, etc. Since the value of the bitcoin fluctuates wildly, why not also lump in all the money in the NYSE? ($15 trillion by some estimates, some of which is held through 401ks, IRAs and pension funds, so there's some duplication there, but still.) The bulk of dollars is held in these types of accounts, not in people's wallets. Just like the bulk value of Bitcoins aren't held in physical tokens in people's pockets, they're held online. So when you're talking about people getting robbed, that's truly an insignificant amount.[/QUOTE]
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