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It really isn't. If my physical wallet is stolen I can call my bank and have the cards cancelled and interim charges reversed; and I am guaranteed fraud protect
by dleslie 9y ago
It really isn't. If my physical wallet is stolen I can call my bank and have the cards cancelled and interim charges reversed; and I am guaranteed fraud protection at their expense. If my BTC wallet is stolen I'm fucked.
- posterboy 9y agothat is unless the bank themselves are fraudsters.
- DennisP 9y agoPersonally, the more I use my cryptocurrency hardware wallet, the more I feel horrified that in legacy systems I make payments by giving merchants the ability to withdraw as much of my money as they want. It's a fundamentally insecure system, made sort of workable by layering on hacks like manual overrides, statistical fraud protection, and banks just eating the losses.