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> and within minutes, the hackers had stolen $1.8 million in cryptocurrency from him > It essentially destroyed our financial future, our entire life savings w
by usaphp 7y ago
> and within minutes, the hackers had stolen $1.8 million in cryptocurrency from him
> It essentially destroyed our financial future, our entire life savings was stolen
Who keeps their entire life savings in crypto?
- judge2020 7y agoWith that much money not using a hardware wallet is short-sighted.
- tyingq 7y agoEven that leaves it in a crazy volatile currency. Adrenaline junkie I guess, assuming it really was their life savings.
- sdan 7y agoI guess you can call most cryptocurrencies volatile but some like BTC and ETH have so much marketcap that it's getting a bit better. Some people truly believe in crypto (and even institutions are... they store in Bakkt) and I guess you have to respect that (pretty sure they understand the risk as well).
- tyingq 7y agoNot faulting them for having significant sums there. But "life savings"? Ouch.
- wmf 7y agoYes, BTC is "only" down 23% in the last month.
- sdan 7y agoI don't want to argue, but it's up 15% since last year (if you bought/sold right you could've also make 400% since last year. I don't personally have anything in crypto, but am watching enthusiastically from the sidelines (and given it's down 23% in the last month is one reason why). At the end of the day you have to look at it from a bigger picture. Since the next halfing is happening in a year, prices will most likely go up (speculation).
- nguoi 7y agoWhen they say 'life savings' (conjuring the image of money saved slowly, over a lifetime), what they really mean is 'gambling profits'.