The only thing you get from having your money in a bank account is government-mandated insurance, that covers you only up to a point.
That's like saying that the only thing you get from not being homeless is a roof above your head.
Deposit insurance shores up trust in the financial system as a whole, and prevents runs on the bank from desperate depositors if the bank has a bad quarter. Desperate people riot, loot, and create coups. There are trillions in $ value in having a stable economy with a population that has peace of mind.
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That's like saying that the only thing you get from not being homeless is a roof above your head.
Deposit insurance shores up trust in the financial system as a whole, and prevents runs on the bank from desperate depositors if the bank has a bad quarter. Desperate people riot, loot, and create coups. There are trillions in $ value in having a stable economy with a population that has peace of mind.
But unlike banks your own cryptowallet does not have that risk at all.
Banks are simply custodians of your identity, no?