Is Bitcoin insured by the FDIC?

No. It is not. The Federal Deposit Insurance Corporation (FDIC) covers deposit insurance as held in the bank up to US$ 250,000 per account. Here is what is covered: FDIC insurance covers all types of deposits received at an insured bank, including deposits in a checking account, negotiable order of withdrawal (NOW) account, savings account, […]

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How did large money transfers happen before banks and coinage?

Before banks per se, there weren’t any large transfers. Wealth or value was transferred either through property title deeds or goods being bartered.  There wasn’t much of a need to do transfers of money (in those days money was gold, silver, and other precious metals, plus prized commodities). Unless of course one was looting everything […]

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