[marcinzm]

> The problem is that so many people got comfortable delegating all their financial and data risk to third parties

The "problem" is that most people prefer to not lose their life savings because their cat stole a little piece of metal and dropped it in the forest.

[px43]

Yup, and some people crash their cars, and some people accidentally burn their own house down. Most people have figured out how to deal with situations like what you mention. People who have trouble following best practices are going to have a hard time, but that's no different than status quo.

[frumper]

The solution people came up with a long time ago were banks and is very much considered a best practice to keep your money there.

[marcinzm]

And when that system of institutional safety measures fails such as someone being swindled into sending all their money to a Nigerian prince you get news stories that ask why the institution isn't liable for the loss or doesn't have better safety guards.

[frumper]

Me getting swindled sure sounds better than:

>The "problem" is that most people prefer to not lose their life savings because their cat stole a little piece of metal and dropped it in the forest.

[px43]

That's great. If banks work better for you, that's awesome. Recognize the privilege though. About half of the people on the planet are unable to even open a bank account, and banks have been becoming increasingly predatory in the past few decades, especially in developing nations. They also are lagging decades behind in their capabilities.

Other options exist now, and I think that's pretty great, even for people who prefer using banks. The competition forces banks to provide better services to their customers, which improves quality of life for everyone.