I think you are right.
I also think many of us have taught to be scared to "unbank" ourselves.
How scary is it to be completely in charge of your money? So easy to lose, so easy to get robbed. At least that is how they have programmed us.
I can have a bank account, and lose all the information about it, except for maybe the name of the bank, or, the month and year it was opened, and STILL have access to all the money there.
Let's say the bank goes out of business, my money is insured.
But I can keep track of my accounts, and I can protect my satoshis.
Let us all unbank ourselves a little more.
Here is a good question that you kind of glanced over. How much fiat do you want to hold?
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Absolutely it’s a scar tactic, yes in a country like mine it’s not good to hold your own money as we have high crime and home invasions so owning your money is making yourself a target!
The bank deposits being insured is a lie though, the insurance is fractional and would bankrupt them easily which is what happened to AIG yes the government my backstop you but that’s with inflation so it would be worth less
If banks go bust deposit owners get paid last so anyone who owns banks bonds get paid first, then the equity holders if there’s anything left then the depositors so there’s no chance of that! A bank here went bust recently and people last all their money
I only hold enough fiat to pay my bills and then live on my credit card for any expenses. All my other fiat is in investments and crypto I do have some spare cash I just in case and some dollars and euros Incase my national currency implodes faster than it’s already doing
In South Africa id say 10% in fiat is more than enough