i think they're definitely a better bet than the large institutions, as they're usually community owned and actually perform beneficial banking functions as opposed to playing in the global derivative casino, blowing all their clients money, and getting bailed out be the government.
The downside is they are still a bank, that can be frozen and such at a whim's notice, you can't take out large chunks of money if you so wished. I guess I just hate the idea of capital controls in general.
ya, credit unions to me are really a good alternative but not 100% the answer. I think that the when institutional banking combines with block-chain technology then this might help both worlds. what are your thoughts on that happening
IMO online banks are a better choice than credit unions or other traditional banks. The cashless nature of online probably would make a full blown bank run less likely. The savings rate of online usually trounces whatever pittance the big banks offer. Same capital control issues though.
i think they're definitely a better bet than the large institutions, as they're usually community owned and actually perform beneficial banking functions as opposed to playing in the global derivative casino, blowing all their clients money, and getting bailed out be the government.
The downside is they are still a bank, that can be frozen and such at a whim's notice, you can't take out large chunks of money if you so wished. I guess I just hate the idea of capital controls in general.
ya, credit unions to me are really a good alternative but not 100% the answer. I think that the when institutional banking combines with block-chain technology then this might help both worlds. what are your thoughts on that happening
IMO online banks are a better choice than credit unions or other traditional banks. The cashless nature of online probably would make a full blown bank run less likely. The savings rate of online usually trounces whatever pittance the big banks offer. Same capital control issues though.