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> As for taxes it's just a question of making a wallet that automatically pays the correct tax to the taxing agency address. We'll see if that's true the day a

> As for taxes it's just a question of making a wallet that automatically pays the correct tax to the taxing agency address. We'll see if that's true the day all the "minor" limitations are solved. Today bitcoins cannot be spent, due to technical limitations and psychological ones (high fluctuations make it impossible to know how much you are really spending) Bitcoins can be stolen by simply hacking (or losing) a device, your money can't, unless it's cash. But you usually don't keep all your money in cash in the same place, as you do with bitcoins. etc. etc.

ric2b 6y ago
> Bitcoins can be stolen by simply hacking (or losing) a device, your money can't, unless it's cash. Hacking/phishing/social engineering into private bank accounts is quite common, probably more than into cryptocurrency wallets. It's easy and highly encouraged by every cryptocurrency wallet to backup your wallet seed, so losing a device is not a problem unless you ignore that advice. > But you usually don't keep all your money in cash in the same place, as you do with bitcoins. I don't, I have them split into multiple wallets, sort of like my fiat money. I carry a small amount on my phone but most of the BTC I own in on a cold/hardware wallet. That stays home just like the debit card for my main bank account.
- romanoderoma 6y ago
  > Hacking/phishing/social engineering into private bank accounts is quite common, probably more than into cryptocurrency wallets. They are not common and you don't lose any money, if they are stolen from banks. > It's easy and highly encouraged by every cryptocurrency wallet to backup your wallet seed That's not protection, that's just preparing for the worst, hoping for the best. > I don't, I have them split into multiple wallets, sort of like my fiat money. You are not an average user then And that's why you show symptoms of survival bias > That stays home just like the debit card for my main bank account. You debit card cannot easily be used to steal money from you even if someone steals it physically
  - nojster 6y ago
    > They are not common and you don't lose any money, if they are stolen from banks. if someone obtains access to your bank account and withdraws your money, then YOU have to prove that it wasn't you. Also, about how common some scenarios are in the UK: https://www.statista.com/statistics/586715/share-of-cyber-security-breaches-businesses-experienced-in-the-uk-by-type/ https://www.statista.com/statistics/586715/share-of-cyber-se... > You are not an average user then any statistics to back up your claim? > You debit card cannot easily be used to steal money from you even if someone steals it physically right, because especially since covid-19 you are less and less asked for your PIN when purchasing with debit / credit card
    - romanoderoma 6y ago
      > if someone obtains access to your bank account and withdraws your money, then YOU have to prove that it wasn't you. Yes And it's quite easy And that's why it's more secure than any crypto currency out there > Any statistics to backup your claim? Crypto currencies are used by a small minority of the population and a small minority of them have gone further than trading them So if you have some stats to backup your claim that "it's easy to have many wallets and backup your seeds" for the general population, I will gladly look at them Cards are insured, if someone uses your card and it's not you, you simply call and block the card and the amount is refunded You have up to 180 days My bank sends me an SMS everytimey the card is used and they call me everytime I use my card in anomalous ways (for example when I'm away from home, it's a red flag for them and they call to ask if it's me using it in another place, of course they must have some kind of model for that, they don't call when I'm away for work) Can crypto offer that?

ric2b 6y ago

> Bitcoins can be stolen by simply hacking (or losing) a device, your money can't, unless it's cash. Hacking/phishing/social engineering into private bank accounts is quite common, probably more than into cryptocurrency wallets. It's easy and highly encouraged by every cryptocurrency wallet to backup your wallet seed, so losing a device is not a problem unless you ignore that advice. > But you usually don't keep all your money in cash in the same place, as you do with bitcoins. I don't, I have them split into multiple wallets, sort of like my fiat money. I carry a small amount on my phone but most of the BTC I own in on a cold/hardware wallet. That stays home just like the debit card for my main bank account.

romanoderoma 6y ago
> Hacking/phishing/social engineering into private bank accounts is quite common, probably more than into cryptocurrency wallets. They are not common and you don't lose any money, if they are stolen from banks. > It's easy and highly encouraged by every cryptocurrency wallet to backup your wallet seed That's not protection, that's just preparing for the worst, hoping for the best. > I don't, I have them split into multiple wallets, sort of like my fiat money. You are not an average user then And that's why you show symptoms of survival bias > That stays home just like the debit card for my main bank account. You debit card cannot easily be used to steal money from you even if someone steals it physically
- nojster 6y ago
  > They are not common and you don't lose any money, if they are stolen from banks. if someone obtains access to your bank account and withdraws your money, then YOU have to prove that it wasn't you. Also, about how common some scenarios are in the UK: https://www.statista.com/statistics/586715/share-of-cyber-security-breaches-businesses-experienced-in-the-uk-by-type/ https://www.statista.com/statistics/586715/share-of-cyber-se... > You are not an average user then any statistics to back up your claim? > You debit card cannot easily be used to steal money from you even if someone steals it physically right, because especially since covid-19 you are less and less asked for your PIN when purchasing with debit / credit card
  - romanoderoma 6y ago
    > if someone obtains access to your bank account and withdraws your money, then YOU have to prove that it wasn't you. Yes And it's quite easy And that's why it's more secure than any crypto currency out there > Any statistics to backup your claim? Crypto currencies are used by a small minority of the population and a small minority of them have gone further than trading them So if you have some stats to backup your claim that "it's easy to have many wallets and backup your seeds" for the general population, I will gladly look at them Cards are insured, if someone uses your card and it's not you, you simply call and block the card and the amount is refunded You have up to 180 days My bank sends me an SMS everytimey the card is used and they call me everytime I use my card in anomalous ways (for example when I'm away from home, it's a red flag for them and they call to ask if it's me using it in another place, of course they must have some kind of model for that, they don't call when I'm away for work) Can crypto offer that?