3 ms·
To be honest: it's much easier for someone to steal $100m in Bitcoin than it is to steal $100m in gold.
by charlesdm 9y ago
To be honest: it's much easier for someone to steal $100m in Bitcoin than it is to steal $100m in gold.
- canoebuilder 9y agoThat's a very good point, people like to paint the hyper-mobility of transference of crypto-currencies as superior to precious metals. But for most people seeking a "store of value" they are more interested in having that value sit somewhere safe and undisturbed. And from this point of view the propensity for a crypto-currency to suddenly vanish if every 'i' is not dotted and every 't' not carefully crossed, is rightly seen as a liability for the 'store of value' game. Also interesting to consider is the kind of security precaution spread that exists between between various value levels in precious metals, vs. crypto-currencies. For example, consider the difference in security mechanisms employed by someone storing a couple gold coins in a box in their house, vs. Fort Knox. Whereas your security precautions for storing $10, or $1,000,000 in crypto-currency are not a whole lot different.
- Lazare 9y agoQuite right, which is the point of the linked article I think. Storing very valuable, very portable things is hard. And few are harder than bitcoin. Saying "just get a safety deposit box" isn't a great answer.