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I'm done with anything crypto. Daily. Bug after bug, breach after breach. I just don't see how, at any point in the future, crypto gets any more secure than, sa

by LightG 5y ago

I'm done with anything crypto. Daily. Bug after bug, breach after breach. I just don't see how, at any point in the future, crypto gets any more secure than, say, Microsoft Windows. There'll always be a bug, there'll always be a fix needed. And this isn't, "oh, my software crashed for an afternoon", it's potentially a good chunk of your life savings. I'll take my chances with the banks and Nigerian Princes.

cableshaft 5y ago
Banks are basically all software too now. They can have the exact same issues. They're not just taking your bills and storing them in a physical vault for you to take out later.
- pgwhalen 5y ago
  > They can have the exact same issues. I don't know if this is right. Traditional money transfer is not some absolute, irreversible thing. It is the product of software yes; but more importantly, it is the product of trust between institutions and individuals, backed by government and the legal system. In traditional finance, there is _far more_ than just the correctness software ensuring the safekeeping and transfer of your assets.
jp42 5y ago
checkout rekt.news to follow attacks in crypto world. It's wont stop, not just crypto but almost everything that involves software will have potential attacks. Crypto is just another area where attacks happen. IMO More the attacks, over the time crypto industry will become more robust.
- vmception 5y ago
  I use to work with regulators on ACH and bank account fraud, in the legacy payment systems It is so commonplace and high volume that it is not news If incidents were listed alongside unexpected crypto seizures, crypto would look like the better option whether it was onchain, smart contracts or custodial institutions (like Coinbase) involved. And that has nothing to do with the size of the respective markets Its not a contest, but anti-crypto people or skeptics are just falling for clickbait at this point and it’s pretty goofy to see.
dogman144 5y ago
I mean you’re aware USAA got a increasingly damming and public reprimand for their failure of IT security controls? By no means the only bank in that bucket either.

by LightG 5y ago

cableshaft 5y ago

Banks are basically all software too now. They can have the exact same issues. They're not just taking your bills and storing them in a physical vault for you to take out later.

pgwhalen 5y ago
> They can have the exact same issues. I don't know if this is right. Traditional money transfer is not some absolute, irreversible thing. It is the product of software yes; but more importantly, it is the product of trust between institutions and individuals, backed by government and the legal system. In traditional finance, there is _far more_ than just the correctness software ensuring the safekeeping and transfer of your assets.

jp42 5y ago

checkout rekt.news to follow attacks in crypto world. It's wont stop, not just crypto but almost everything that involves software will have potential attacks. Crypto is just another area where attacks happen. IMO More the attacks, over the time crypto industry will become more robust.

vmception 5y ago
I use to work with regulators on ACH and bank account fraud, in the legacy payment systems It is so commonplace and high volume that it is not news If incidents were listed alongside unexpected crypto seizures, crypto would look like the better option whether it was onchain, smart contracts or custodial institutions (like Coinbase) involved. And that has nothing to do with the size of the respective markets Its not a contest, but anti-crypto people or skeptics are just falling for clickbait at this point and it’s pretty goofy to see.

dogman144 5y ago

I mean you’re aware USAA got a increasingly damming and public reprimand for their failure of IT security controls? By no means the only bank in that bucket either.