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Why crypto will never be mainstream. Be dependent on storing a private key that can get lost or stolen. Need to store a hard copy at a bank in a safety depos
by adrr 3y ago
Why crypto will never be mainstream. Be dependent on storing a private key that can get lost or stolen. Need to store a hard copy at a bank in a safety deposit box. Can’t even trust the hardware wallets you buy off Amazon since it could have been returned with malware loaded.
- matheusmoreira 3y agoIt's really not any different than traditional cash. "Not your cash, not your money" also holds true. Storing lots of cash at home is even more difficult and risky. Keep your money at the bank? The govern can simply turn off your money for any reason. You're literally posting in a thread about the US government seeking to freeze Binance's accounts.
- ninepoints 3y ago> The govern can simply turn off your money for any reason. This obviously happens so often /s
- matheusmoreira 3y agoHappened in the 90s where I live. Hyperinflation set in and government just froze everybody's accounts in a desperate attempt to stop it. It's 2023 and people are still afraid it might happen again, especially with a literal communist in power. Cryptocurrency is absolutely valuable as a defense against government idiocy. That fact cannot be denied.
- ninepoints 3y agoAnd an easy way to lose everything because you sent tokens to the wrong address, forgot your passphrase, lost your hardware ledger, fell prey to some scam or another, house burned down, etc.
- matheusmoreira 3y agoSure. Doesn't negate the benefits though.
- ex3ndr 3y agoThis is all solvable and in fact solved, just not integrated in the wallets.
- robocat 3y agoFind “ el corralito” in this article: https://www.freethink.com/hard-tech/crypto-argentina-black-market-cash https://www.freethink.com/hard-tech/crypto-argentina-black-m... The article explains why cryptocurrencies are in use in Argentina despite the risks: mostly because Pesos or USD can have worse risks.
- johngladtj 3y agoHappens all the time.