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With bitcoin the choices seems equivalent to unsecured banks (trust someone else), or gold bars under the mattress (hope they don't get stolen, you don't get in
by CJefferson 6y ago
With bitcoin the choices seems equivalent to unsecured banks (trust someone else), or gold bars under the mattress (hope they don't get stolen, you don't get incapacitated and they get forgotten about, etc). I wouldn't want to store a significant chunk of my savings in either of those situations.
- brian_cloutier 6y agocurrent state of the art is not very good, storing large amounts of cryptocurrencies is not as convenient as large amounts of fiat and it may never be as convenient, but usability is slowly improving. Hardware wallets and safe deposit boxes and multisig let you build a system which is far better than storing your money in an unsecured bank and far less vulnerable to theft/loss than the mattress strategy.