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Now you need to trust developers who wrote the client code, trust large mining(/staking whatever) pools not to collude and 51% you, and uhhhh trust yourself to
by floatboth 5y ago
Now you need to trust developers who wrote the client code, trust large mining(/staking whatever) pools not to collude and 51% you, and uhhhh trust yourself to not lose the fucking keys, or to be an expert in all the various "protection" schemes like multi-signature wallets (until they explode because there's a bug in them)… You also have to 100% trust yourself to not get scammed — there's no chargeback if you do.
- itsthejb 5y agoRegarding not losing the keys (ie. responsibility for your own security), this was my #1 grounds for skepticism in crypto when I first entered the space. I could predict that without some compromise on this, most people would not use crypto. However, social recovery is already one potential solution for that, so don’t discount that surprising ideas can come up (https://cryptonews.com/news/social-recovery-wallet-is-better-for-your-cryptoassets-buter-8863.htm https://cryptonews.com/news/social-recovery-wallet-is-better...)