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by FLUX-YOU 2982 days ago
>Or some system gets hacked, and information or money gets leaked/lost.

Blockchain is worse for theft because someone can't arbitrarily pull money from a bad account and put it back. The amount of security you also need to take on to protect your private key is a vast increase from what you need to currently do for banks.
1 comments
coralreef 2982 days ago
Well, depends on the context of "theft". A government could freeze your bank account and seize your assets quite easily, with no recourse. They can't do that with crypto.

But yeah, the immutability of the blockchain has its tradeoffs.

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threeseed 2982 days ago
Sure but most people aren't getting their assets seized. And in that situation even if you had your assets in Bitcoins the government can still seize them if you've kept a record or wallet somewhere.

Likewise if you're a person who is in the business of getting your assets seized then money is probably the least of your worries i.e. you're quite likely to be facing jail time.

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woah 2982 days ago
PayPal is one of the few centralized ways to receive money over the internet, and the web overflows with stories of people who have had large sums frozen for a very long time.
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coralreef 2982 days ago
Most people aren't getting their assets seized, that is until a national crisis occurs, ex. Greece:

https://www.youtube.com/watch?v=9gW2UnmVuwI

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