Old logic being appplied to a new paradigm. Never works.
For example, where did the meme "if you can't hold it, you don't own it" come from in the first place? It's because the digital money we have today is held by the BANKS. If the banks default, good luck on getting your money back. The connection (and general applied rule) was then made between digital money and ownership.
If anyone even made an effort in studying BC, one can see that this general rule cannot be applied to BC. For starters, while BC is a digital coin, not all of them are held by intermediaries (as opposed to the situation with regular money). Some of it is held by YOU yourself.
Also, even if intermediaries are used, the BC protocol can be used in such a way to make it cryptologically difficult for that organization to steal your money. The advantage with a digital protocol such as BC, is that actions usually done by human handling are done by the computer through the BC protocol. And humans are more prone to corruption than actions performed by a computer. By cutting out as much of the middleman as possible, corruption is kept at a minimum.
One other point that needs to be made. Banks default, cause they have an obligation to customers to handout REAL PHYSICAL money. There's alot more digital money than real money held by banks and if customers want to convert that digital money to physical money, the banks will have to default. With BC, you don't have that problem, cause it's ALL digital.
Of course, there's a thing suh as hacking, but that's a different story alltogether.
Want DP delivered to your inbox daily? Subscribe here: