4 ms·
Big lesson learned from Mtgox. Unfortunately wallets have their cons too, and there are a lot of people who have lost their passwords or thumbdrives and thus a
by nico 4y ago
Big lesson learned from Mtgox.
Unfortunately wallets have their cons too, and there are a lot of people who have lost their passwords or thumbdrives and thus access to their crypto.
No silver bullet.
- npc12345 4y ago
- andirk 4y agoDidn't the Mtgox people finally get their BTC back but only after a few years and the price 100x'd ironically? Either way, diversify ones portfolio including where the moneys are kept.
- nico 4y agoDon’t know if distribution has happened yet. But there were at least a few investors buying claims, so plenty of people were able to cash out. You could say that’s actually a better outcome than losing your private key.
- k__ 4y agoWeb3auth/Torus and Argent trying to solve that problem. But yeah, the moment you have key recovery, even if it's decentralised and requires multiple parties, you aren't 100% in charge anymore. But, it's probably a good alternative to being 0% in charge with custodial wallets.