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You can't possibly be arguing that these false positives (which are causing major hassles: losing hours to find a way to get cash in a foreign country to pay wi

• TheSpiceIsLife 9y ago
  You read right, that is what I'm arguing. Okay, so not the false positives themselves, but that there are systems in place to detect / prevent / insure against loss. Cryptocurrency theft has been solved by hardware wallets? What happens when you lose your hardware wallet? Now you have to restore from backups, if you have them, but they're in cold storage 4000 miles away.
  • mrb 9y ago
    «systems in place to detect / prevent / insure against loss» Yes the systems are nice. In theory. But when they cause more problems than they solve, that's not "working well". Bitcoin's systems to prevent loss are hardware wallets, and multisig addresses (eg. requiring 2-of-3 wallets/persons/automated systems to approve a transaction). «Now you have to restore from backups» The backup is simply a list of 12 words. Write it somewhere safe. Split the list. Memorize it. Hide it. Store it via steganography in an image in your email account. Whatever. It's easy to hide and have it accessible 24/7.
    • TheSpiceIsLife 9y ago
      > But when they cause more problems than they solve I'm willing to bet traditional payment card anti-fraud and consumer protection systems are solving more problems than they cause. So you have been inconvenienced by them on occasion. That says nothing for the frequency these systems work as intended. > The backup is simply a list of 12 words. I wasn't aware of that, thanks for clarifying.