The same way they currently work in a system everyone gets burned by? The main benefits of the current system from my perspective are that fraud detection algor

The same way they currently work in a system everyone gets burned by? The main benefits of the current system from my perspective are that fraud detection algorithms are really good now, in the cases of credit card fraud the CC companies usually just credit back the stolen amount to the customer (which unfortunately hurts sellers since buyer fraud is still common), and when events like $300m-$900m getting stolen from banks happen, the overall system generates so much profit that it mostly gets swept under the rug and the average person isn't hurt. (FDIC helps too.) Despite all these benefits, the elderly are still routinely scammed out of money. (Some reports suggest increasingly.) I haven't heard anything about outright bitcoin thefts from privately owned wallets with a password protecting them, but then again I don't follow bitcoin too closely. The typical drama I hear is an exchange shutting down (why would the elderly have their btc on an exchange when their bank account funds aren't on an exchange?) and occasionally someone's unencrypted wallet backup on a compromised server being taken. There was also the issue with the android wallets a while back generating insecure keys. I'm not convinced the elderly would lose any more than they already do on average given they're using bitcoin (which I think they're fully capable of using if they're already using online payment systems). Anyway this is kind of a fruitless discussion for this instance. Grandmas don't use MEGA.