Comment by alwa

What concerns me is the idea that risks like these might leak into the regulated financial sector.

Right now, if I want to avoid my dollars being among those billions stolen, I can (and do) keep them someplace far away from instant digital currency. With firms that, while they could move large sums of their money somewhere else, build in a whole lot of friction in proportion to the amount being moved—by their customers, their staff, and their counterparties. Limited and well-understood modes of potential malfeasance, and strong structural discouragement for each of them.

There is nothing that I need to do that needs to move fast. But I’d hate for the firms servicing my slow, boring needs to be tempted by the new shiny.