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Sad, but predictable. There's a mantra in Bitcoin: if somebody else has the private key, you don't own your cryptocurrency.
by VMG 9y ago
Sad, but predictable. There's a mantra in Bitcoin: if somebody else has the private key, you don't own your cryptocurrency.
- mnm2 9y agoAny bank could "just" spend your money on your account The central bank just prints money and thus steals 'value' from you (devaluation) It's a matter of trust into an entity
- pythonaut_16 9y agoBanks operate in a predictable, fairly transparent framework. Inflation devalues your money but the process of inflation is well understood and the occurrence/details are public knowledge. Cryptocurrencies values can fluctuate rapidly and there's a strong precedent for your money disappearing in an exchange or otherwise.
- hashkb 9y agoOk, sure. Even if banks can be slimy, they can't be nearly as slimy as anonymous internet folk working in unprecedented/unregulated legal areas. All trust is not equal.
- nv-vn 9y agoHe wasn't anonymous though...
- ubernostrum 9y agoA bank is subject to laws, and generally believes that it is subject to laws. Cryptocurrency people tend to believe that the stuff they're into makes laws and regulations obsolete, so who would bother writing up any of those?
- JustAnotherPat 9y agoShould be if a hard fork is possible, you don't own your crypto.
- hsod 9y agois a hard fork ever not possible?
- toomuchtodo 9y agoCryptocurrency: you never own your currency.