Right, because actual currency is controlled by government regulation. For the US, the purpose behind the insurance is to regulate the currency’s stability. The entire point of the FDIC was to prevent runs on banks due to the crash of 1929 and the resulting depression because the government realized that hey, people will freak out and it could cripple an economy.
Bitcoin’s entire point is to be outside of regulatory bodies and answering to “the code.” Introducing an insuring body to regulate stability is anathema to the people who want to use it.
The really stupid thing is that the people who are bemoaning the drop (and complain of losing vast wealth) are the same who just a few short months ago were touting their suddenly dramatic increase in wealth. I think the proper answer to these people is essentially exactly what Japan has said. It’s unregulated. Welcome to Speculation!
