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With a hardware wallet where you store your seed phrase. You would never type this seed anywhere. You would store backups of this seed in something like a metal

With a hardware wallet where you store your seed phrase. You would never type this seed anywhere. You would store backups of this seed in something like a metal sheet that you can buy. You would be extremely careful of the numerous phishing attempts that you will encounter. Also with malicious smart contracts. And you would have a hot and cold wallet, to minimize risk.

maccard 4y ago
Remember that this is an alternative to a small card that is widely accepted internationally that I can reclaim a transaction with a quick phone call.
- femiagbabiaka 4y ago
  I’m not a crypto fanatic but credit and debit cards are very susceptible to fraud
  - tekknik 4y ago
    But in those cases the user gets their money back. This isn’t the case with crypto.
    - femiagbabiaka 4y ago
      People with time get their money back. People without it get nothing back. And that’s not even mentioning the legal scams like overdraft charges… I’m just saying, the existing system sucks too.
      - maccard 4y ago
        It's not that much time, and frankly you need the time with any method. The last time it happened to me, my card provider noticed the transactions, blocked the card and phoned me to ask if I made them. The time before, I phoned my bank and told them I had a charge I didn't recognize, they asked me to fill in a form and refunded me within 48 hours.
  - maccard 4y ago
    Absolutely, as much as any other payment method. Meanwhile there are consumer protections available for them. One phonecall and a form will pretty much instantly reverse a debit card, credit card, or direct debit transaction with any bank in Europe. On more than one occasion this has happened to me and it's taken less than 15 minutes to resolve.
    - femiagbabiaka 4y ago
      https://krebsonsecurity.com/2022/10/report-big-u-s-banks-are-stiffing-account-takeover-victims/ https://krebsonsecurity.com/2022/10/report-big-u-s-banks-are... top of HN today EDIT: link to thread https://news.ycombinator.com/item?id=33125442 https://news.ycombinator.com/item?id=33125442
- lmm 4y ago
  Until the operators decide for their own mysterious reasons to make your small card stop working, or that you suddenly owe them a bunch of money you never had, or both at the same time.
  - tekknik 4y ago
    How is any of this possible in the real world? If my bank says I owe them money, it’s on them to prove it. If they can’t I can easily take them to court.
    - lmm 4y ago
      "Easily" is far from my experience. I eventually got everything back but it took literally years.
      - tekknik 4y ago
        I’d love to hear more.
        lmm 4y ago
        I don't know much more, which is the frustrating part of the experience. When we got an actual court date they were suddenly happy to give me all my money back, and I was too tired to push further. But until then it was block, stall, ask for more copies of the same identity verification documents or claim that they somehow didn't meet the requirements (e.g. claiming that my bank statements weren't acceptable identify verification because they didn't show the account being in active use, despite it being my main daily account), insist simultaneously that they couldn't tell me anything but it would all be resolved soon.

maccard 4y ago

Remember that this is an alternative to a small card that is widely accepted internationally that I can reclaim a transaction with a quick phone call.

femiagbabiaka 4y ago
I’m not a crypto fanatic but credit and debit cards are very susceptible to fraud
- tekknik 4y ago
  But in those cases the user gets their money back. This isn’t the case with crypto.
  - femiagbabiaka 4y ago
    People with time get their money back. People without it get nothing back. And that’s not even mentioning the legal scams like overdraft charges… I’m just saying, the existing system sucks too.
    - maccard 4y ago
      It's not that much time, and frankly you need the time with any method. The last time it happened to me, my card provider noticed the transactions, blocked the card and phoned me to ask if I made them. The time before, I phoned my bank and told them I had a charge I didn't recognize, they asked me to fill in a form and refunded me within 48 hours.
- maccard 4y ago
  Absolutely, as much as any other payment method. Meanwhile there are consumer protections available for them. One phonecall and a form will pretty much instantly reverse a debit card, credit card, or direct debit transaction with any bank in Europe. On more than one occasion this has happened to me and it's taken less than 15 minutes to resolve.
  - femiagbabiaka 4y ago
    https://krebsonsecurity.com/2022/10/report-big-u-s-banks-are-stiffing-account-takeover-victims/ https://krebsonsecurity.com/2022/10/report-big-u-s-banks-are... top of HN today EDIT: link to thread https://news.ycombinator.com/item?id=33125442 https://news.ycombinator.com/item?id=33125442
lmm 4y ago
Until the operators decide for their own mysterious reasons to make your small card stop working, or that you suddenly owe them a bunch of money you never had, or both at the same time.
- tekknik 4y ago
  How is any of this possible in the real world? If my bank says I owe them money, it’s on them to prove it. If they can’t I can easily take them to court.
  - lmm 4y ago
    "Easily" is far from my experience. I eventually got everything back but it took literally years.
    - tekknik 4y ago
      I’d love to hear more.
      - lmm 4y ago
        I don't know much more, which is the frustrating part of the experience. When we got an actual court date they were suddenly happy to give me all my money back, and I was too tired to push further. But until then it was block, stall, ask for more copies of the same identity verification documents or claim that they somehow didn't meet the requirements (e.g. claiming that my bank statements weren't acceptable identify verification because they didn't show the account being in active use, despite it being my main daily account), insist simultaneously that they couldn't tell me anything but it would all be resolved soon.