There is literally no better option in terms of holding and protecting your own wealth.
Crypto is the glass cannon of financial security. Yes, you optimize for a single variable…at the cost of everything else.
Crypto is good at resisting computer-based hacking and money printing, but it’s far worse than the conventional banking systems at social hacking, physical coercion, or accidental loss.
Basically, nerds love to latch onto crypto because they view it from its interesting technical properties. But they ignore the real risks to money. Banks aren’t being hacked left and right to have their funds drained. But social engineering drains accounts every day. The crypto nerds are more comfortable with computers than with people, so they focus on the computer-centered threats than the human ones.
Social engineering is stupid people being stupid and then being surprised that their stupidity has consequences. Unless physical coercion is involved, like in the xckd comic about the wrench, then education is the fix here. I got my account stolen in Habbo once when I was a kid and I was never scammed again in my life.
You’re basically arguing that since people can burn themselves on the stove, that stoves are not as safe as ovens and that ovens are preferable. That’s bullshit, getting burnt is part of learning to respect the technology.
You’re the reason all those toys like Mattel’s VAC-U-FORM got castrated because some stupid kid got burnt once and the mom went nuclear, cucking all the other kids who wanted to learn how industrial manufacturing actually works.
I don’t need an institutional daddy to safeguard me from the consequences of my own actions. I need the floor to be there so I can smash my face on it and update my priors.
Crypto is the glass cannon of financial security. Yes, you optimize for a single variable…at the cost of everything else.
Crypto is good at resisting computer-based hacking and money printing, but it’s far worse than the conventional banking systems at social hacking, physical coercion, or accidental loss.
Basically, nerds love to latch onto crypto because they view it from its interesting technical properties. But they ignore the real risks to money. Banks aren’t being hacked left and right to have their funds drained. But social engineering drains accounts every day. The crypto nerds are more comfortable with computers than with people, so they focus on the computer-centered threats than the human ones.
Social engineering is stupid people being stupid and then being surprised that their stupidity has consequences. Unless physical coercion is involved, like in the xckd comic about the wrench, then education is the fix here. I got my account stolen in Habbo once when I was a kid and I was never scammed again in my life.
You’re basically arguing that since people can burn themselves on the stove, that stoves are not as safe as ovens and that ovens are preferable. That’s bullshit, getting burnt is part of learning to respect the technology.
You’re the reason all those toys like Mattel’s VAC-U-FORM got castrated because some stupid kid got burnt once and the mom went nuclear, cucking all the other kids who wanted to learn how industrial manufacturing actually works.
I don’t need an institutional daddy to safeguard me from the consequences of my own actions. I need the floor to be there so I can smash my face on it and update my priors.