Cryptocurrency

[FrontEnder]

Tether crypto-currency operator reports $31m raid - BBC News

Yeah, that beats the banking system for sure

It's easy to avoid this - don't store your coins in online wallets.

Fraud in the traditional banking system is worth many orders of magnitude more than $31m dollars though.

[AtW]

Fraud in the traditional banking system is worth many orders of magnitude more than $31m dollars though.

Banks will have to cover the losses, that's the key difference.

[Jog On]

Banks will have to cover the losses, that's the key difference.

What is the point of you posting in this thread? What are you trying to achieve or are you so bored you're just looking for some drama?

[scooterscot]

Be quick - ETH is going up...

[scooterscot]

Tether crypto-currency operator reports $31m raid - BBC News

Yeah, that beats the banking system for sure

Well when the banks loose big on gambling Mr and Mrs taxpayer gladly pick up the bill. Sorry, you were saying something about the banking system being better?

[FrontEnder]

Banks will have to cover the losses, that's the key difference.

Not necesarily. e.g. Laws in other countries don't offer anywhere near the same level of fraud protection as we do.

[Jog On]

Not necesarily. e.g. Laws in other countries don't offer anywhere near the same level of fraud protection as we do.

The ECB are looking to withdraw covered deposits as well

“Covered deposits and claims under investor compensation schemes should be replaced by limited discretionary exemptions to be granted by the competent authority in order to retain a degree of flexibility.”

Currently deposits of €100,000, which are protected in the event of a bail-in would no longer receive that protection. However, this issue is not the most substantial. The report also suggests that banks would be able to limit depositors’ access to their own funds. According to the report:

“...during a transitional period, depositors should have access to an appropriate amount of their covered deposits to cover the cost of living within five working days of a request.”

This is why Crypto is here to stay, it's this behavior from banks and politicians that makes crypto a necessity.

[FrontEnder]

What about that time when the greek government restricted withdrawals and were planning on taking a chunk of all deposits?

[Jog On]

What about that time when the greek government restricted withdrawals and were planning on taking a chunk of all deposits?

If that EU bail-in 'extension' gets approved you can bet it will be rolled out here.

It really gets me that there are panama/paradise papers and we get stuff like this and whatever TF Hammond will throw at us tomorrow...

[scooterscot]

Interesting.. who here for the record would believe Dash would hit $12k a coin before the next 18 months come to an end?