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I always get downvoted for asking this but... doesn’t that seem like a really bad idea that makes you far far more vulnerable to physical crime? If a guy mugs y
by throwawayhhakdl 7y ago
I always get downvoted for asking this but... doesn’t that seem like a really bad idea that makes you far far more vulnerable to physical crime? If a guy mugs you at an atm, the bank is going to flag something as suspicious. If a guy mugs you for your private key, you have no recourse for all of your holdings- and the getaway is a lot easier. Physical crypto crime feels like it would be very prevalent if it became “mainstream”
- askmike 7y agoThe idea of Bitcoin is a system without any centralized trust, eg. "what do you do if the bank mugs you" would be a counter argument. Some people used to think/want that Bitcoin was going to take over all other forms of money. I don't think many people still believe that. In that sense it's just like other forms of property that can be stolen.
- throwawayhhakdl 7y agoThat’s a pretty good counter argument tbh. I don’t think it has practical merit in the US, but I’ll give you it could be viable in other contexts
- deleted 7y ago[deleted]
- DennisP 7y agoSo if you have a lot, don't keep your main stash where it's easily accessible to you.
- throwawayhhakdl 7y agoHow is crypto made non accessible besides storing your private key with a third party?
- Sargos 7y agoBy the time crypto goes mainstream people will be using smart contract wallets like Argent and Gnosis Safe that implement things like social key recovery, daily transfer limits, and other common sense measures.
- throwawayhhakdl 7y agoHow do those differ from banks besides being subject to less regulation.