| Basically everything in your post highlights why crypto is a horrible idea for your average person: > How do you think bank accounts get hacked? It's much easier to yank a password/credit card number people use daily. Exactly, and when a credit card number is stolen the consumer is almost never liable, as opposed to crypto where your life savings are gone forever. > The benefit of private key is you only need to use it once. Then store it away in a safe or _bank_. As another responder said, you need your private key to sign every transaction. Giving you the benefit of the doubt and assuming you're talking about wallet keywords, even then if you have an account you still need the ability to sign transactions, and according to crypto enthusiasts the no-middleman, non-reversability of crypto transactions is a feature, not a bug. > More UX will develop over time as adoption grows. We already have hardware wallets that even babies could use. This man used a Trezor wallet but was still tricked into entering his wallet keywords into a fake Trezor app and lost his life savings: https://www.washingtonpost.com/technology/2021/03/30/trezor-... > Even in recent modern history people have lost all their savings in a snap be it their house burning down, colleague stealing everything or even your bank going under. Which is exactly why everyone with a mortgage is required to have home owners insurance, and FDIC insurance exists. The only way to introduce these kinds of benefits (e.g. to have someone adjudicate allegations of fraud; insurance; etc.) is to introduce middle men, which then defeats the entire purpose of crypto in the first place. |