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Explain to me as if I was your 50 years old parent: "What is that Bitcoin money and why I should use it if that 'exchange' thingy can loose it and they won't re

Explain to me as if I was your 50 years old parent: "What is that Bitcoin money and why I should use it if that 'exchange' thingy can loose it and they won't recover it back? I know my current bank will recover all my money if they get robbed." Take for granted that I (your 50 years old parent) have near zero knowledge about technology and I just won't use my own wallet and what not.

kaffeemitsahne 7y ago
> Take for granted that I (your 50 years old parent) have near zero knowledge about technology and I just won't use my own wallet and what not. Lol, given these conditions and unwillingness to change them you definitely shouldn't use it at all. Just forget you ever heard about it.
SkyBelow 7y ago
Based on my own parents, I wouldn't want you within 100 feet of bitcoin. I would also wouldn't want you being able to use a credit card online. I'm not sure why they are so against learning anything about technology yet so capable of learning new things not related to technology.
- deleted 7y ago
  [deleted]
- sofaofthedamned 7y ago
  Mass adoption soon, yeah?
dmos62 7y ago
Bitcoin is not well adapted for the technologically unsavy. By design, centralized exchanges should not be used for treating in Bitcoin. However, since Bitcoin does not support trading in the order of seconds, or other features necessary for speculation, like margin positions, speculators use centralized exchanges. They are aware of the subpar regulation and security standards in the industry and take the risk. Again though, this has nothing to do with casual users of the currency, they shouldn't be using centralized exchanges. The best, to my knowledge, decentralized anonymous crypto exchange is bisq [0]. The "unable to recover" feature is central to Bitcoin by design, because that way it cannot be censured or otherwise manipulated by non-majority actors. To finish, Bitcoin is not the most technically sound cryptocurrency around. It is a historically pivotal idea and implementation, but it's details are not the future of cryptocurrencies. [0] https://bisq.network/ https://bisq.network/
lawn 7y ago
1. This exchange hack won't lose you any money, because it's insured. 2. You should anyway only use proper exchanges, then it's like using your current bank. 3. You don't have to use your own wallet. Cryptocurrencies gives you the opportunity to do so, but it's not a requirement.

kaffeemitsahne 7y ago

> Take for granted that I (your 50 years old parent) have near zero knowledge about technology and I just won't use my own wallet and what not. Lol, given these conditions and unwillingness to change them you definitely shouldn't use it at all. Just forget you ever heard about it.

SkyBelow 7y ago

Based on my own parents, I wouldn't want you within 100 feet of bitcoin. I would also wouldn't want you being able to use a credit card online. I'm not sure why they are so against learning anything about technology yet so capable of learning new things not related to technology.

deleted 7y ago
[deleted]
sofaofthedamned 7y ago
Mass adoption soon, yeah?

dmos62 7y ago

Bitcoin is not well adapted for the technologically unsavy. By design, centralized exchanges should not be used for treating in Bitcoin. However, since Bitcoin does not support trading in the order of seconds, or other features necessary for speculation, like margin positions, speculators use centralized exchanges. They are aware of the subpar regulation and security standards in the industry and take the risk. Again though, this has nothing to do with casual users of the currency, they shouldn't be using centralized exchanges. The best, to my knowledge, decentralized anonymous crypto exchange is bisq [0]. The "unable to recover" feature is central to Bitcoin by design, because that way it cannot be censured or otherwise manipulated by non-majority actors. To finish, Bitcoin is not the most technically sound cryptocurrency around. It is a historically pivotal idea and implementation, but it's details are not the future of cryptocurrencies. [0] https://bisq.network/ https://bisq.network/

lawn 7y ago

1. This exchange hack won't lose you any money, because it's insured. 2. You should anyway only use proper exchanges, then it's like using your current bank. 3. You don't have to use your own wallet. Cryptocurrencies gives you the opportunity to do so, but it's not a requirement.