| ▲ | tucnak 8 hours ago |
| This is why people who happen to own significant amount of crypto typically get hardware wallets |
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| ▲ | mschild 7 hours ago | parent | next [-] |
| That would make it a single point of failure, no? Not a good idea if your company is riding on it. |
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| ▲ | tucnak 3 hours ago | parent [-] | | multisig exists | | |
| ▲ | dsr_ 2 hours ago | parent [-] | | Cryptocurrency recapitulates the history of the modern banking system, and illustrates the necessity of regulation on a daily basis. |
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| ▲ | aurareturn 6 hours ago | parent | prev | next [-] |
| Yes, let's go back to hiding cash and gold under our beds. Maybe buy a machine gun so you can defend it from home intruders. |
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| ▲ | RobotToaster 5 hours ago | parent [-] | | > Yes, let's go back to hiding [...] gold under our beds The people that did exactly that never had to worry about (hyper)inflation... | | |
| ▲ | Aurornis 30 minutes ago | parent | next [-] | | The currency is never the only asset or unit of trade in an economy. As long as value and wealth were being created somewhere, inflation can exist. Gold is interesting because more of it was being mined and produced all the time. There wasn’t even a finite amount of gold. Thinking that a gold standard means no inflation (or in practical terms, deflation as the population grows) is a modern fantasy. | |
| ▲ | compass_copium an hour ago | parent | prev | next [-] | | In addition to the security issues, they would have to deal with non-negligible transaction costs every time they wanted to convert it to actual money so that they could purchase something. If they were using it as an investment, they had to deal with the opportunity cost of underperforming $SPY. | |
| ▲ | 4 hours ago | parent | prev | next [-] | | [deleted] | |
| ▲ | pjerem 5 hours ago | parent | prev [-] | | Still, they have to worry about them and their family not being kidnapped. Oh but hey, checkmate, burglar who is threatening to cut my daughter’s finger, my wallet is multisig ! |
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| ▲ | learingsci 7 hours ago | parent | prev [-] |
| Doesn’t that mean a home invader can break in, torture you a bit and walk off with your millions? |
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| ▲ | duttish 7 hours ago | parent [-] | | I think there was a rash of this kind of this kind of wrench cryptocurrency robberies in the Netherlands a few years ago. Break in, bash owner about with a wrench, get coins. <Insert xkcd> | | |
| ▲ | aurareturn 6 hours ago | parent | next [-] | | Yep, the meme in crypto community is that you can have all the digital security possible but it'll lose to the $5 wrench attack. | |
| ▲ | fragmede 5 hours ago | parent | prev [-] | | xkcd 538, that is |
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