[rglover]

> And by using Bitcoin to automate all these transactions you get a bunch of very cool features such as constantly being at risk of losing your life savings due to phishing, scamming, hacking, etc., etc.

All lies.

> unless you store a hard wallet in your intestines and memorize the recovery words (better hope you don't forget any or your life savings is gone!)

Lies. Just write them down and store them securely. You can memorize them if you like. It's also wise to store multiple physical copies in various locations to avoid this exact scenario.

> The cool thing about all of this is that it's a feature of Bitcoin to be able to irreversibly lose your life savings, without any ability to recoup your losses.

Yes, you can't be utterly careless (and I'm not sure what the argument is for wanting to be).

> the only way to make it faster (Lightning Network) is to sacrifice the checks and balances that maxis praise as the hallmark of Bitcoin

Yes, which makes sense for small transactions between trusted parties. Large transactions can and should be done on-chain (also with trusted parties).

--

I'll continue to listen to the signal [1], not the noise. What makes me happiest is that the people who deserve to win the most will win over the people who deserve it the least. It will be the greatest wealth transfer humanity has ever seen and it won't require any violence or coercion.

[1] https://twitter.com/LightningTipB0t/status/16150147987979919...

[methodical]

> All lies.

Doesn't bother to point out what part of it was a lie (because it isn't a lie)

> Lies. Just write them down and store them securely.

Welcome to the future of finance, make sure you don't lose your seed phrases written down on paper (it's the future, trust me bro)

> Yes, you can't be utterly careless

Contradicts saying that I was lying that you can lose your life savings due to phishing, scamming, or hacking, and that if you lose your seed phrases and can't access the wallet then your digital doubloons are gone forever

etc.

[rglover]

> Doesn't bother to point out what part of it was a lie (because it isn't a lie)

This "constantly being at risk of losing your life savings due to phishing, scamming, hacking, etc." is a lie. There is no inherent property of Bitcoin that makes you vulnerable to these. Any vulnerability in those regards is an individual issue, just like with the current system. You could mitigate those away with paid services under a Bitcoin standard (which is great because you could actually pick the vendor you thought could do the job best).

> Welcome to the future of finance, make sure you don't lose your seed phrases written down on paper (it's the future, trust me bro)

Perhaps you prefer steel? https://www.amazon.com/Safe-Seed-Stainless-Recovery-Passphra...

> Contradicts saying that I was lying that you can lose your life savings due to phishing, scamming, or hacking, and that if you lose your seed phrases and can't access the wallet then your digital doubloons are gone forever

Fair enough. This is where an exchange comes in. You still have the option to trust a third-party to hold your Bitcoin if you wish. But of course, that comes with its own risks, just like trusting a bank (which can only ever guarantee up to $250K worth of your money under FDIC).

[ZephyrBlu]

I'm pretty favourable towards crypto, but it is absolutely an inherent property of blockchains.

The whole point is that it's immutable and transactions are not reversible. That means users are susceptible to losing their money with no recourse.

Seed phrases are also a pain in the ass. No one wants to deal with that, and average consumers would absolutely lose/forget/misplace them and lose access to their wallets.

The risk of ruin in crypto is ridiculously high compared to traditional finance.

[TylerE]

This sort of vague handwaving of valid concerns is the definition of noise.

[methodical]

Almost like handwaving is the only way to disregard any of the real concerns people bring up about Bitcoin or crypto because there's not really any good way to dispel them with much logical proof.

[rglover]

I responded directly to what was said. There's no handwaving, you just don't like my response. Read my other responses in this thread, too.

[TylerE]

"All lies" is not a response.

[rglover]

That was only part of the response.

[boeingUH60]

> It will be the greatest wealth transfer humanity has ever seen and it won't require any violence or coercion.

Of course, wealth transfer from the poor rubes to the rich fools.