> And your answer will invariably be some new threshold to move the "trust" goalpost to next.

It won't.

The only "goalpost" I have is: congrats, you've invented banks, with none of the safety nets.

> It won't. The only "goalpost" I have is: congrats, you've invented banks...

Actually you moved it from "holding your cryptocurrency" to being a bank with safety nets.

If you want someone to hold your funds with guarantees to make sure you don't mishandle them then you use dollars in a bank. But if you want to put anything other than, it will not have those guarantees or protections. Only dollars have been given these privileges. You have none of these privileges on other things like stocks, bonds, property, etc. But you can (and do) still hold them in banks and institutions without the guarantees you're asking for. Cryptocurrency is currently treated as an investment and a property (in the US) and will have the same guarantees available to it as stocks, bonds and other property from traditional institutions because that is the risk profile they have established and understand best.

So, if you want the guarantees associated w US dollars, then you need to use US dollars. But having those guarantees from an institution holding your assets was never a goal of Bitcoin... that is, it intended to be a peer-to-peer electronic cash system. It is to distribute the power we currently give to those who manage monetary policy instead to a network of trust-less actors. It is to enable individuals with the means to accumulate and protect wealth. It provides permission-less commerce between private parties who would otherwise be prevented from using their assets as they choose.

It is up to society how it uses and enables Bitcoin and other cryptocurrencies. If society chooses to treat it in a way that it doesn't deserve the guarantees you seek, then you should seek elsewhere in the market to get the guarantees you desire. And those which are looking for the above value propositions will be able to consider cryptocurrency among their options. Just because cryptocurrency does not do what you're asking, that doesn't make it any less useful to the rest of the market with different needs from yours.

> Actually you moved it from "holding your cryptocurrency" to being a bank with safety nets.

The comment I literally responded to is:

--- start quote ---

That's nice that you trust your bank. I wouldn't be so trusting. Nevertheless, if you want someone else to handle your funds for you, there are lots of reputable services that can hold your cryptocurrency with all of the guarantees you are desiring.

--- end quote ---

I didn't read the rest because it ends up in "It is up to society how it uses and enables Bitcoin and other cryptocurrencies." which has moved the goalposts so far, they are now orbiting Jupiter.

I'm not even sure why you replied if you're not going to add anything to the conversation here. You talked about trusting your "bank" with cryptocurrency and I replied that you don't have to....your argument comparing cash to cryptocurrency is like comparing cash to property/stocks.... it was a strawman and doesn't make much sense.

The market (and you) decide to use cryptocurrency however you want, in a bank, in a wallet, or not at all. And that includes whether you think the "bank" holding your funds has enough guarantee that your funds are safe.

Good luck to you.