It's a solved problem, and has been since the first bitcoin paper. That no one read that and just heard "magic internet gold I can get rich from" is their problem and not mine.
You don't get rich quick off the bitcoin protocol however so we have people run places like FTX: centralize and get the big bucks because they provide convenience. Then act surprised when it goes tits up like every other centralized system.
Same thing with people not encrypting their emails or not using tor as a bridge to the internet. In short: if you're the type of person who doesn't have their own key, yeah, prepare to get wrenched. The rest of us can manage our exposure quite easily.
> > Hur hur, street smarts better than smart smarts.
I never said that, all I said was that this is not the BGP problem, it's the $5 wrench problem.
And it's not a solved problem, governments seize crypto all the time and people get tortured for their keys regularly. Just a few days ago the US picked up 50,000BTC.
All of crypto is a get rich quick scheme, but people want their winnings denominated in fiat which is why exchanges exist. It's hard to reconcile "best performing asset in history!!" with "you can't get rich off bitcoin."
> In short: if you're the type of person who doesn't have their own key, yeah, prepare to get wrenched. The rest of us can manage our exposure quite easily.
You have this completely reversed. If you're the type of person who does have their own keys prepare to get wrenched.
It probably looks like someone showing up with a court order, but government agents with the right to use violence to enforce court orders is a large portion of what gives such orders teeth.
Of course, violence isn't the only sort of coercion... but it's part of it.