Unlike numbers on a bank account, which represent legal liability of the bank and are backed by the collateral of specified real estate or other debt instrument that a borrower offers as a way for a bank to secure the loan, the numbers on a bitcoin address are completely void of any legal liability since software that creates them is not a legal entity which can have legal rights and obligations.
first of all i want to thank you for sharing your thoughts.
but please if you could further clarify your points by answering my queries.
let me begin with asking you if you have ever researched with what is really happening with fiat currency right now.
if not then i think you should do it first.
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next question.
what do you think will happen if all of the fiat holders right now will approach banks and ask for the collateral of the paper cash that they are holding?
do you think the banks will be able to give all of the equivalent collateral to every cash holders?
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don't you think federal reserve is just simply printing money without gold reserves as back up?
meaning the paper cash you are holding right now is just a paper without any real value.
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hopefully you can provide answers.
have a nice day...