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What happens if someone steals cryptocurrency from my wallet? What happens if someone hacks into my bank account and steals dollars? Cryptocurrencies don't ev
by ericmay 7y ago
What happens if someone steals cryptocurrency from my wallet?
What happens if someone hacks into my bank account and steals dollars?
Cryptocurrencies don't even solve basic issues like this that actually matter. I can sign up for an Apple Card and use that immediately to seamlessly make payments (it's not the best card but just for illustration purposes) or buy services. I can't do that with any cryptocurrency.
So far there are just too many inconveniences/risks for me to make it worthwhile.
> Name one other Network, be it payment or otherise, that has had less downtime than Bitcoin's in the last 10 years. Just one.
??? All of them? I've never not been able to spend dollars. I've never had an issue where "all payments are down" on a network at a store or website, and if so it would have also affected any sort of cryptocurrency transaction.
> 1MB blocksize is a feature, not a bug. I won't explain why
I think this is one of the inherent issues. Why should it even need to be explained? If people don't just get it from the start, you're already at a disadvantage.
Not to mention, governments will always require cryptocurrency to be pegged to dollar amounts for tax purposes, so it doesn't really solve the main issue I have with fiat currency is that the government can screw up the currency and devalue my wealth accumulation.
Privacy issues aren't really solved en mass either, because companies like Coinbase authenticate you for tax purposes (i.e. the IRS and NSA have you).