Dash size on harddisk

[lynx]

You don't control the money in your bank account, the bank does. In crypto, the only way someone can transfer your funds is if they have your private keys. Also, the issuance of money follows a predictable pattern. It is enough that anyone can verify the information on the blockchain at any time, you don't need every user to constantly do so all the time.

 

[Daniel Hendriks]

If you are only a user you do not have the private keys (most of the time), but some server has it. Is that your understanding of control?

 

[jimbursch]

Then why would a user not use a normal bank account?

Depends on the user. For the vast majority of people in Western democracies, there is no reason to use a cryptocurrency when a normal bank account will suffice. In fact, there are a lot more reasons NOT to use cryptocurrency when you can use a bank account.

That being said, there are lots of circumstances where a cryptocurrency is preferable to a bank account. Many people desire the privacy that can be had with crypto.

 

[TroyDASH]

If you are only a user you do not have the private keys (most of the time), but some server has it. Is that your understanding of control?

That's not what we mean. You can have sole access to your private keys AND you do not need to run a full node in order to do that.

You don't need to host the entire blockchain yourself in order to use crypto. All you need is the key to your funds, and someone else to do business with.

 

[lynx]

If you are only a user you do not have the private keys (most of the time), but some server has it. Is that your understanding of control?

Look at mobile wallets. They are not full nodes and you are still the only one that has your private keys. They are never given to any server.

 

[tungfa]

Depends on the user. For the vast majority of people in Western democracies, there is no reason to use a cryptocurrency when a normal bank account will suffice. In fact, there are a lot more reasons NOT to use cryptocurrency when you can use a bank account.

That being said, there are lots of circumstances where a cryptocurrency is preferable to a bank account. Many people desire the privacy that can be had with crypto.

really ?
i do not think so
i believe there are more other reasons than privacy to get out of the FIAT banking industry
- speed
- cheap transfers
- inflation
.
.
.
Be your own bank (see how good that feels) and not rely on a 3rd party which needs a bailout or shuts down it's ATM's when the time comes
(when you have your security in place )

 

[Dandy]

People in western countries are unaware of how potentially dangerous holding the money in banks is. I live in a country in which in the last few decades a lot of banks just ceased to exist at some point, taking the people's money with it.
So when you hold the money in the bank, it's not actually your money anymore.
Also, fiat currencies are inherently unstable in the long run, because central banks can just issue more of them at a whim, devaluing your money even if you don't hold it in a bank.