3 ms·

I'm not saying it's not possible to back up the key, I'm saying if a billion dollars disappear overnight because one person was stupid, we don't know the way pe

by enkid 5y ago

I'm not saying it's not possible to back up the key, I'm saying if a billion dollars disappear overnight because one person was stupid, we don't know the way people would react to that. May be they would value Bitcoin more or maybe they would value it less. It's not apparent less supply equals more demand in this specific case.

anonporridge 5y ago
You're presenting this like it's a secret thing that lost private keys are irrecoverable. It's not a secret. Immutability is one of the key features and regularly advertised part of the system. So much so that when that irreconcilability is violated (e.g. rolling back the DAO hack in Ethereum) it's seen as a negative. There might be some morons who didn't do any research before investing, but they won't be a huge loss if they sell out and stay out.
- GaylordTuring 5y ago
  > There might be some morons who didn't do any research before investing, but they won't be a huge loss if they sell out and stay out. I think you're underestimating the size of this group.