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Forget Bitcoin, Try Your Mattress
- anm89 8y agoI think they are being intentionally misleading making the claim that this case is representative of the general security concerns regarding owning cryptocurrencies. They claim "An exchange is roughly like a bank for bitcoin" which is either extremely disingenuous or extremely uninformed. I've never heard a member of the crypto community claim that it is appropriate to treat exchanges like banks. They nearly universally say the opposite, that exchanges should be considered risky and that you don't own the underlying coin if you don't own the keys. Keeping your money on an exchange (and not a top tier player at that) would maybe be like putting your money in a bank in some small dictatorship country that has none of the protections of traditional banks and a history of screwing over claim holders. Obviously this situation represents a serious danger in the crypto sphere but labeling this kind of an event as representative of the general risks in holding crypto is highly misleading.
- IXxXI 8y agoUrban legends claim many have lost cash savings stuffed inside their mattress to the ravages of hungry termites or rodents. It may be wise to utilize a pest safe container instead.