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If it was that simple and easy why wasn't he doing it. It's simply a ridiculous failure mode that you can lose your entire life savings with no recourse if you

If it was that simple and easy why wasn't he doing it. It's simply a ridiculous failure mode that you can lose your entire life savings with no recourse if you make a silly mistake. What a dreadful idea to foist upon ordinary people as the future of finance. We've never accepted this before and let's never accept this again. Every random walk down the timeline results in 100% of coins lost or stolen. [edit] You can only blame the user so many times before you have to really look inward haha.

s1artibartfast 4y ago
Who is foisting anything here? I'm not aware of anyone who has been forced to use crypto
- arcticbull 4y ago
  Anyone with a direct or indirect stake in one of the few companies silly enough to throw it on their balance sheet. Since TSLA made the S&P that's basically everyone with a market investment, an IRA, a 401(k), a pension. CPPIB invested in FTX. CDPQ in Celsius. Everyone in El Salvador. It's a bit of a cancer. Anyways those doing the foisting also includes all the shills, the laser-eyed, the influencers. [edit] It's not enough to say because they weren't forced at gunpoint, it's not coercive or immoral. We don't accept that behavior from people shilling penny stocks. And of course Salvadoran shopowners were in fact coerced with force.
  - gruez 4y ago
    >Anyone with a direct or indirect stake in one of the few companies silly enough to throw it on their balance sheet Sure, there are institutional investors holding crypto, but how is this related to the current discussion of securing crypto? They're not exactly keeping their crypto holdings in a software wallet connected to the internet. They typically outsource that to companies that specialize in crypto custody, which presumably have better security practices than the OP.
    - w1nst0nsm1th 4y ago
      Cryptos are 2500 years of financial frauds, bubbles, greed and insanity concentrated in 13 years of existence. It preys of financially illiterate people who don't know better because they have been bombarded without any pause by endless list of bullshit as soon as they put the word 'investment', 'money', 'market' or whatever in any search box in the world, that being the one from your local bookstore, online newspapers, youtube, google, reddit and on and on and on... And if you tell me fractional banking system is a ponzi scheme then you either don't have a clue of what they are or you pretend to. It doesn't matter which companies, individuals or wathever .org or 'coin something' websites promote them or make a business of them because they're all fucking hucksters at worst or paid shills at best. Talking 'security' about investment scams is like talking personnal safety in '101 suicide' book.
- deleted 4y ago
  [deleted]
gruez 4y ago
>If it was that simple and easy why wasn't he doing it. It's simply a ridiculous failure mode that you can lose your entire life savings with no recourse if you make a silly mistake. Except in this case, it seems like he went out of his way to make it less secure, by putting his wallet on his server. This isn't a case of someone losing his mattress savings in a random home burglary, this is a case of someone leaving a duffle bag of cash in the seat of a car.
- arcticbull 4y ago
  At the risk of murdering this dead horse there's a reason nobody positions duffle bags of cash as the future of finance no matter where located. Precisely because they can be stolen without recourse. Had that money been safely in a bank account they'd still have it in both these examples. I mean this guy is already demanding the FBI get involved when the FBI's position is you should just put it in a bank account and not need to call us in the first place. https://www.newyorker.com/humor/daily-shouts/l-p-d-libertarian-police-department https://www.newyorker.com/humor/daily-shouts/l-p-d-libertari...
  - gruez 4y ago
    >At the risk of murdering this dead horse there's a reason nobody positions duffle bags of cash as the future of finance no matter where located I think you're conflating "someone who is defending crypto in this particular instance" with "someone who thinks bitcoin will take over the world". >I mean this guy is already demanding the FBI get involved when the FBI's position is you should just put it in a bank account and not need to call us in the first place. Yeah, I think we're in agreement here that he was acting like an idiot.
    - arcticbull 4y ago
      > I think you're conflating "someone who is defending crypto in this particular instance" with "someone who thinks bitcoin will take over the world". We've talked a few times, I always appreciate your perspective :)
- 4y ago
wesapien 4y ago
No one has to use it if they don't want to. Keep your money in whatever currency you want or your wealth in art or precious metal
- arcticbull 4y ago
  Tell that to everyone in El Salvador and everyone exposed passively through the silliness of Elon and Jack, or OTPP or CDPQ. It's strictly false to say nobody is forced to use it - they are. Almost 7M of them in El Salvador. Their legal tender law isn't like the US, acceptance is compulsory and non-acceptance is punishable by prison. But even if that weren't true, that doesn't mean its a good idea to use it or advocate for it or pretend it doesn't have these glaring flaws as folks march onward toward the abyss and take down the normies with them. It's everyone's responsibility to call out bad ideas that harm us all. Especially when as soon as anything goes wrong, the afflicted yell "HELP! POLICE!!" just like our tweeter down-thread. That's a draw on public resources which puts this discourse squarely in the public interest. Not to mention spending like 0.6% of the world's electricity on coal-powered lotto ticket scratcher machines undergirding the whole charade. The worst part is when things start to go wrong all the talking heads jump in and start saying "nobody could have seen this coming!!" and "crypto deserves better critics!!" It has fantastic critics - you just have to listen. Critics aren't supposed to say things you want to hear.

s1artibartfast 4y ago

Who is foisting anything here? I'm not aware of anyone who has been forced to use crypto

arcticbull 4y ago
Anyone with a direct or indirect stake in one of the few companies silly enough to throw it on their balance sheet. Since TSLA made the S&P that's basically everyone with a market investment, an IRA, a 401(k), a pension. CPPIB invested in FTX. CDPQ in Celsius. Everyone in El Salvador. It's a bit of a cancer. Anyways those doing the foisting also includes all the shills, the laser-eyed, the influencers. [edit] It's not enough to say because they weren't forced at gunpoint, it's not coercive or immoral. We don't accept that behavior from people shilling penny stocks. And of course Salvadoran shopowners were in fact coerced with force.
- gruez 4y ago
  >Anyone with a direct or indirect stake in one of the few companies silly enough to throw it on their balance sheet Sure, there are institutional investors holding crypto, but how is this related to the current discussion of securing crypto? They're not exactly keeping their crypto holdings in a software wallet connected to the internet. They typically outsource that to companies that specialize in crypto custody, which presumably have better security practices than the OP.
  - w1nst0nsm1th 4y ago
    Cryptos are 2500 years of financial frauds, bubbles, greed and insanity concentrated in 13 years of existence. It preys of financially illiterate people who don't know better because they have been bombarded without any pause by endless list of bullshit as soon as they put the word 'investment', 'money', 'market' or whatever in any search box in the world, that being the one from your local bookstore, online newspapers, youtube, google, reddit and on and on and on... And if you tell me fractional banking system is a ponzi scheme then you either don't have a clue of what they are or you pretend to. It doesn't matter which companies, individuals or wathever .org or 'coin something' websites promote them or make a business of them because they're all fucking hucksters at worst or paid shills at best. Talking 'security' about investment scams is like talking personnal safety in '101 suicide' book.
deleted 4y ago
[deleted]

gruez 4y ago

>If it was that simple and easy why wasn't he doing it. It's simply a ridiculous failure mode that you can lose your entire life savings with no recourse if you make a silly mistake. Except in this case, it seems like he went out of his way to make it less secure, by putting his wallet on his server. This isn't a case of someone losing his mattress savings in a random home burglary, this is a case of someone leaving a duffle bag of cash in the seat of a car.

arcticbull 4y ago
At the risk of murdering this dead horse there's a reason nobody positions duffle bags of cash as the future of finance no matter where located. Precisely because they can be stolen without recourse. Had that money been safely in a bank account they'd still have it in both these examples. I mean this guy is already demanding the FBI get involved when the FBI's position is you should just put it in a bank account and not need to call us in the first place. https://www.newyorker.com/humor/daily-shouts/l-p-d-libertarian-police-department https://www.newyorker.com/humor/daily-shouts/l-p-d-libertari...
- gruez 4y ago
  >At the risk of murdering this dead horse there's a reason nobody positions duffle bags of cash as the future of finance no matter where located I think you're conflating "someone who is defending crypto in this particular instance" with "someone who thinks bitcoin will take over the world". >I mean this guy is already demanding the FBI get involved when the FBI's position is you should just put it in a bank account and not need to call us in the first place. Yeah, I think we're in agreement here that he was acting like an idiot.
  - arcticbull 4y ago
    > I think you're conflating "someone who is defending crypto in this particular instance" with "someone who thinks bitcoin will take over the world". We've talked a few times, I always appreciate your perspective :)
4y ago

wesapien 4y ago

No one has to use it if they don't want to. Keep your money in whatever currency you want or your wealth in art or precious metal

arcticbull 4y ago
Tell that to everyone in El Salvador and everyone exposed passively through the silliness of Elon and Jack, or OTPP or CDPQ. It's strictly false to say nobody is forced to use it - they are. Almost 7M of them in El Salvador. Their legal tender law isn't like the US, acceptance is compulsory and non-acceptance is punishable by prison. But even if that weren't true, that doesn't mean its a good idea to use it or advocate for it or pretend it doesn't have these glaring flaws as folks march onward toward the abyss and take down the normies with them. It's everyone's responsibility to call out bad ideas that harm us all. Especially when as soon as anything goes wrong, the afflicted yell "HELP! POLICE!!" just like our tweeter down-thread. That's a draw on public resources which puts this discourse squarely in the public interest. Not to mention spending like 0.6% of the world's electricity on coal-powered lotto ticket scratcher machines undergirding the whole charade. The worst part is when things start to go wrong all the talking heads jump in and start saying "nobody could have seen this coming!!" and "crypto deserves better critics!!" It has fantastic critics - you just have to listen. Critics aren't supposed to say things you want to hear.