| > A point stands on its own, not based on the authority of the person making the point. paraphrasing Asimov my ignorance is not as good as your knowledge > You seem to have little clue how cryptocurrencies even work here doesn't a point stand on its own, not based on the authority of the person making the point? who said that? ... I can't remember anyway, I was involved in btc from 2014 to 2016. dropped it and never looked back. > Now of course someone can put a gun to your head and demand your private key, but they won't have any indication that you even OWN a private key with crypto whereas with fiat they can just raid your house and claim the cash. that's why we have banks and don't keep our money under the mattress. so that the bank is responsible of keeping it safe and I don't lose it if the bank gets robbed. what happens to my bitcoins if someone robs them? but let's imagine you are in a poor country, can't open a bank account because the system doesn't accept you, you don't trust it, there is no bank system in your country, whatever... now imagine you need to buy something that your family needs. you convert your bitcoins to fiat money (someway, that's another cane of worms entirely), because of course you can buy a Tesla with bitcoins, but not primary goods, and you are back at square one: you have cash in your home that is not safe. > I'm not sure what ledger you think will prevent criminals from taking cash from your house or bank in the same manner do you seriously don't know? > people at gunpoint are made to withdraw cash from ATMs. It's common enough. it's not. because you can only withdraw a small amount of money from ATM (€ 250 in Italy) so the incentive is close to zero. thieves steal the ATM machine and try to break it later it's extremely rare, but it happens. but even then the incentive is very low, because if you break an ATM machine the money inside is tainted with a special paint that makes it useless and highly recognizable. > Again, there's no situation where crypto is easier to steal than a countries fiat. bitcoins are useful only when converted to fiat money. you can't buy bread for your family with bitcoins in Somalia. You can't in Italy as well. infact they steal your fiat money, which is much more valueable for a thief. anyway you seem to not understand how developing countries work, at all. money is not stolen from you, it's seized by corrupt governments and corrupt police forces. crypto doesn't solve that, in any way. if you can hide crypto, they will seize the goods you buy with them. don't believe the hype -- Public Enemy |
If the vulnerability is when you buy goods or hold fiat then crypto isn't the problem. Your bank is safe, so is your wallet. If an attacker takes the keys to your bank or the keys to your wallet you are compromised. Maybe your bank is insured and will refund your withdrawals if you can prove you were forced to withdraw by an attacker. I'm sure that's something that would happen in Italy, but in the poor parts of the world I'm familiar with that is not the case.
>> > people at gunpoint are made to withdraw cash from ATMs. It's common enough.
it's not.
this is just ignorant - I've witnessed this multiple times. Maybe it's you living in Italy that has no exposure to the realities of poorer countries if you're ignorant of this common attack.