Originally Posted by
c1ue
A couple notes:
1) A bank account breach for a personal/consumer account is protected - your actual out of pocket loss should have been zero/minimal. Protections for cryptocurrency = zero.
2) A bitcoin transaction actually costs more like $3000 - that's how much bitcoin is being "fiat created" to compensate the miners. The $20-$70 is closer to what the electricity cost per transaction is. Interestingly, the crypto supply has increased roughly 15% in the past year due to mining - which is a far greater increase, on an annualized basis, than almost any fiat currency.
1) Your bank accounts are not protected from the IRS and/or other Governmental Agencies. They can freeze and seize your assets on the flip of a dime.
2) Most cryptos will be out of biz in the future. You're better off looking at the pioneers which will still be around in 5 years. How much did BTC's supply increase in 2018?