Sure, the funds in a bank arent "really" yours. But you might as well treat them as if they are.
Im not a fan of people perpetuating the idea that theres this big risk that exists when you hold your funds in a bank. That is completely false. We just repeat it because "crypto vs banks" and steemit is basically a echo chamber of similar ideas on banks, government, etc.
The truth of the matter is that keeping your money in a bank right now is safer then keeping it any other form. (depending on the bank ofc)
Private keys are a huge obstacle for mainstream adoption and we will need to find a way to somehow fix that problem.
Say crypto goes mainstream, and i keep my money in crypto, maybe i get hit by a car, maybe i have a family that now can never access my cryptocurrencies. Maybe i keep my keys in my house and the house burns down...
Lets not lie to ourselves and pretend that the "private keys" option at this point in time is superior to holding your money in a bank. Because it most definitely is not.
Depends how you hold your private keys of course and that has risks too. Banks are stable when the economy is stable but if something happens, that can change fast as we have seen in many forms over the last three decades or as @whatsup mentioned, the great depression.
Keeping the money in the bank also means that it is losing value as for the most part, the interest earned on it is less than the inflation that is driven by the bans that are loaning it out.
Sure, it depends on how you hold your private keys but there is more risk associated with that then holding your money in a bank. We will figure that out one day, but right now banks are safer.
The possibility of "something" happening is extremely low.
If @whatsup wants to take a bet, id bet all my steem and the rest of my crypto portfolio that nothing close to the great depression in magnitude will happen any time soon, if ever.
hehe.
We can talk economic stagnation or depression all we want, but id say thats pretty silly when wer sitting at 0.4$ at 90% down from ATH. :)
If I thought it was reasonable to track... I would take the bet! :)