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Playing the devil's advocate here: In 30 years time, you consider retiring, and you have a significant portion of your savings in Zerocoin. Someone, somehow, m
by jamhan 13y ago
Playing the devil's advocate here:
In 30 years time, you consider retiring, and you have a significant portion of your savings in Zerocoin. Someone, somehow, manages to fraudulently acquire your Zerocoin savings, perhaps through a flaw in the Zerocoin system itself. You go to the authorities, and ask them to help you recover your stolen retirement savings. They reply, "Sorry, as you know, Zerocoin is completely anonymous. We can't help you, no-one can."
What do you do?
- goldenkey 13y agoYou create a kickstarter called "E-Freedom" and "Digital Rights" with a picture of your child. Call it a freedom fund for his college.
- rbehrends 13y agoSimple: You don't invest in Bitcoin/Zerocoin in the first place. Digital currencies are the online equivalent of cash, not of a savings account or stocks. Like regular cash, it can be stolen (e.g., by hacking into your computer) or lost (hard drive crash with an outdated backup), and thus, you shouldn't have more on hand than you can afford to lose. Different rules apply to speculators, of course, but you are talking about retirement savings. Putting your retirement savings in a Bitcoin wallet is about the same as having a pile of cash under your mattress.
- jamhan 13y agoThat much is already clear. I'm more interested in comments from those who appear to think Bitcoin/Zerocoin is an "infinite good": https://news.ycombinator.com/item?id=6806395 https://news.ycombinator.com/item?id=6806395