Think about it.
Does the bank actually have the cash to back up everyone’s checking/savings accounts? Not even close.
Does the FDIC have enough greenbacks to cover everyone’s losses during a bank run? Not even close.
All you see is your balance on your phone or computer.
Same with digital assets anywhere.
Exactly!
There is an element of trust with the traditional “system”. Once that goes (happens every now and then) the deck of cards falls down or the dominos collapse whatever you want to say
Read his post GG... And note, we’re overdue one of these “events” ...