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You need to be careful with this message. A lot of people are not capable of responsibly managing their own keys. There are countless stories of fresh faces tak

by beaner 6y ago

You need to be careful with this message. A lot of people are not capable of responsibly managing their own keys. There are countless stories of fresh faces taking this message to heart and then finding they've lost their stash a year later. You do gain a higher degree of financial sovereignty by managing your own keys, and it's definitely an important option to have and fight for. Just be cognizant that you also gain a lot of responsibility, too. For some people, storing at a site like Coinbase will continue to be a safer option.

vmception 6y ago
> You need to be careful with this message. A lot of people are not capable of responsibly managing their own keys. Nope, thank them for their contribution to the predictable frequency of lost digital assets and their scarcity. Praise be. Blessed be the fruit.
maipen 6y ago
People that get into crypto and go to an exchange like coinbase, should already understand how it works and they are getting themselfes into. These people that are just buying to invest and don't understand how to make a wallet, will most likely be the same that make horrible decisions, investing wise. Crypto must be used as it was intended for. It's not that hard nowadays, actually pretty simple.
- beaner 6y ago
  The intention of crypto was to provide the option to opt-out of traditional finance, not to mandate that you opt-out. Even you yourself don't understand it, so you you should be a little less confident in what you promote. Equating investment ability with key management ability is stupid.
  - maipen 6y ago
    If you think that, than coinbase is DEFINITLY not for you. Better buy crypto on paypal or some other garbage that doesn't allow you to fuck up with you bitcoin.
piracy1 6y ago
Who's to say their exchange account doesn't get hacked? SIM Swapped, etc. But yes I do agree storing your own coins would be a nightmare for people who are not savvy with computers and shit. But I do think that in theory paper wallet is easy to secure with 0 tech knowhow (though ofc the tricky part is generating one securely), just put it in a safety deposit box. All that being said it still seems really pointless to me to have coins which you cannot send online. But prehaps if like my grandpa wanted to hold some bitcoin as an investment, I'd advise something like cash app robinhood because no matter what you do wrong nobody can get the actual coins, at best to a fraudster it's another classical bank account for which there are all manner of legal clawback methods and safeguards in place.

by beaner 6y ago

vmception 6y ago

> You need to be careful with this message. A lot of people are not capable of responsibly managing their own keys. Nope, thank them for their contribution to the predictable frequency of lost digital assets and their scarcity. Praise be. Blessed be the fruit.

maipen 6y ago

People that get into crypto and go to an exchange like coinbase, should already understand how it works and they are getting themselfes into. These people that are just buying to invest and don't understand how to make a wallet, will most likely be the same that make horrible decisions, investing wise. Crypto must be used as it was intended for. It's not that hard nowadays, actually pretty simple.

beaner 6y ago
The intention of crypto was to provide the option to opt-out of traditional finance, not to mandate that you opt-out. Even you yourself don't understand it, so you you should be a little less confident in what you promote. Equating investment ability with key management ability is stupid.
- maipen 6y ago
  If you think that, than coinbase is DEFINITLY not for you. Better buy crypto on paypal or some other garbage that doesn't allow you to fuck up with you bitcoin.

piracy1 6y ago

Who's to say their exchange account doesn't get hacked? SIM Swapped, etc. But yes I do agree storing your own coins would be a nightmare for people who are not savvy with computers and shit. But I do think that in theory paper wallet is easy to secure with 0 tech knowhow (though ofc the tricky part is generating one securely), just put it in a safety deposit box. All that being said it still seems really pointless to me to have coins which you cannot send online. But prehaps if like my grandpa wanted to hold some bitcoin as an investment, I'd advise something like cash app robinhood because no matter what you do wrong nobody can get the actual coins, at best to a fraudster it's another classical bank account for which there are all manner of legal clawback methods and safeguards in place.