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that sounds tedious af and still prone to error, i'd rather literally pay someone to handle all of this for me, let's say, some kind of institution which specia
by thousand_nights 2y ago
that sounds tedious af and still prone to error, i'd rather literally pay someone to handle all of this for me, let's say, some kind of institution which specializes in storing and handling money
- hatthew 2y agoHey, what if there was a way to get paid to have someone else handle this for you? That would be crazy right
- dullcrisp 2y agoWhile practically that’s true of course, I think a hardware appliance that did this that you had to physically interact with to release the funds from would be cyberpunk and cool. Imagine exchanging a handful of currency chips for like a flying motorcycle or something.
- stouset 2y agoAnd when that hardware fails? The problem with crypto is that every problem requires additional layers of complication which each have their own failure modes which then need to be further addressed. And the complication itself adds yet more ways to breed failure. This is the fundamental challenge with a system where any mistake or error results in the instantaneous and irrevocable loss of unbounded funds.
- dullcrisp 2y agoIf it fails, you can’t retrieve the money of course. Don’t put more than you can afford to lose on one chip.
- stouset 2y agoYou understand this is insane right?
- dullcrisp 2y agoI’m not offering financial advice.
- ashleyn 2y agoi would argue crypto isn't meant to straight replace the banking system. only substitute for it where certain privacy is required
- spacemanspiff01 2y agoExcept it is explicitly not private?
- bb88 2y agoIt would also be cool if it were guaranteed up to a certain amount, very much like FDIC does for amounts smaller than $250k.