i read a newsletter where the author discusses how $10mm was recently transferred between two ethereum addresses for 7 cents & took seconds. author rightly points to all the inefficiencies of bank transfers. also rightly points to the fact that in crypto there is no “recourse” if a mistake is made or fraud happens. BUT wrongly concludes that *banking without banks > banking with banks*. more appropriate would be *banking without banks ≠ banking with banks* given the risk profiles are vastly different. further your own risk aversion profile may make you a bank user name or a crypto/defi user. above tx cost 7 cents vs maybe max $30 in US (tad lower in EU). but it could have cost the entire amount had there been a mistake or fraud whereas the bank w/its $30 cost gives you peace of mind. #fasterpayments #crypto #ethereum #banking #banks #defi #blockchain #cryptocurrency #cryptocurrencies …see more