Hacker News Reader

And yet they introduce a lot of new problems too - problems that have been solved by traditional currencies a while ago. Problems like exchange security and protection to citizens. If my bank goes bankrupt for whatever reason, the government has an insurance for up to 100K for me. When mtgox went down, everyone lost their money.

View on HN

I'm not sure I agree here. Those are definitely real issues that you've highlighted, but they're not because of crypto currency.

There's no reason that a crypto-exchange cannot be as secure as a bank (or more), and that governments cannot insure crypto deposits up to some value. Those are purely problems for regulators/governments, which have been relatively slow to adapt legislation.

The problems you highlight are real, and can be good reasons to favour traditional currencies, but they're also easy problems to solve - the thinking has already been done once for traditional currencies and the solutions for crypto are mostly identical.

Reply on news.ycombinator.com