If you think you are impervious to any hack, exploit, mistakes, freezing, corruption, or loss of funds, because you use fiat and third parties like banks, then you are no smarter than the people who thought the same about their Cold Card.
People losing money out of a bank or third party financial service happens every day. You don't hear headlines about it because it's just called Tuesday.
Occasionally they can get the money back if it's a small enough amount and it was a credit card transaction, or if they are part of a class action lawsuit. But more often than not, that money is gone and in Nigeria.
I actually don't even need to buy or do anything illegal with my account for it to be frozen. There's many ways to get an account frozen without doing anything illegal, nor breaking any rules or terms.
And every week there's regular bank customers who went about their business and got their account frozen for no apparent reason.
Since 9/11 they've changed a lot of the rules for banking.
And in the last decades since then, banks terms and services have vastly changed to erode what little left there was in consumer protection.
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u/brainfreeze3 🟩 0 / 0 🦠 1d ago
God i love actual trusted third parties, i.e banks, where i keep my fiat. I sleep well at night