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“Not your keys, not your crypto” is one of the most out of touch axioms in the crypto space (and that’s really saying something). See: the vast majority of the
by kkielhofner 4y ago
“Not your keys, not your crypto” is one of the most out of touch axioms in the crypto space (and that’s really saying something).
See: the vast majority of the population (even within crypto) that can’t figure out how to setup a wallet in the first place. Then, if you get that far, you can join the hordes of people that lose access to it, dig through garbage dumps for a laptop, have malware that inspects the clipboard and replaces addresses, make a wrong click in Metamask and get cleaned out, etc, etc, etc.
- dylkil 4y agosmart contract wallets allow users to recover funds in the event they lose their private key - https://www.argent.xyz/learn/what-is-a-smart-contract-wallet/ https://www.argent.xyz/learn/what-is-a-smart-contract-wallet...
- kkielhofner 4y agoI'm aware of that[0]. 1) With chains that support them... 2) They're ridiculously complicated and convoluted. The fact they're suggested by the crypto community only further demonstrates my point about the crypto ecosystem being completely disconnected from reality. 3) They don't do anything to address the other issues I raised. [0] - https://vitalik.ca/general/2021/01/11/recovery.html https://vitalik.ca/general/2021/01/11/recovery.html
- bombcar 4y agoIf you lose your passphrase or get your coins stolen - should have done security better or used an exchange. If an exchange goes bust, not your keys, not your coins. There is always an answer as to why it it is your fault, which is why it will never really catch on.