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At least to me, and possibly others, any system which I have my money invested and I can lose everything I own with no recourse due to some exploit is completel
by res0nat0r 5y ago
At least to me, and possibly others, any system which I have my money invested and I can lose everything I own with no recourse due to some exploit is completely laughable and something I will never ever touch. There's a reason folks keep their life savings in a Chase bank account, because if something like this happens you have recourse to recover your money.
- fastball 5y agoPeople have never lost their life savings when held in a bank account?
- craftinator 5y agoI'm just gonna leave this here: https://youtu.be/CS9ptA3Ya9E https://youtu.be/CS9ptA3Ya9E It's a dark comedy sketch that has an answer to your question.
- UIGYUIUYG 5y agoThen don't put your money in a newly created contract? You yourself say you keep it in a Chase bank account, you sure as hell wouldn't put your life savings in a newly created bank and trust everything to them would you? Look at what you put your money into, has it had any audits done (this applies to both tax / financial audits for brick and morter stores, and code audits to smart contracts). I will never ever invest my money with HSBC, they have shown time and time again to willfully break the law and soley gain monetarily from it, the governments or financial institutions don't do anything about it. Just like I will never ever invest my money into USDT, I think it's a massive scam and don't touch it in the slightest, doesn't stop millions of others investing though.
- res0nat0r 5y agoI'll take an FDIC insured bank over some new cool crypto project any day of the week.
- kybernetikos 5y agoThat's different, that's because you trust the insurance. If you had insurance you trusted for the new cool crypto project, you might feel differently.