With Ian Balina being the latest victim of a hacking scheme it highlights some of my concerns about crypto currencies. In it’s current form the technology isn’t ready for mass adoption or to replace tradition banking/fiat currencies. In this video I’ll voice my concerns and how they can be resolved in the near future.
Your Crypto Is Never Safe!!!!!
7 years ago by elijah526 (56)
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trezor and a piece of paper would have prevented this
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i agree with your main points though
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However, it doesnt matter if you break your hardware wallet. You can use your recovery seed. And people can also come threaten bodily harm if you have $ in a bank.
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Yes they can but you have a method of retrieving your funds if your account is compromised with tradition banking. With crypto when the money is gone its gone. Also the average person doesn’t want to go through the hassle of remembering a recovery seed or having to remember different key combinations. For early adopters it doesn’t matter but for the average consumer it does.
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true! good points!
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No one is safe from hackers.
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You’re correct but the difference between your wallet getting hacked vs a bank account is the funds are insured by your banking institution. Meaning the consumer isn’t penalized for being hacked. With crypto its bye bye see you later and the average consumer isn’t willing to take that risk.
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I think the worries will be resolved over time.
thanks @Elijah526
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I feel the same way and when it's resolved the real bull run will take place.
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I agree with you. But as systems evolve and financial literacy grows, Final winner will be the investor. Thank you for sharing @elijah526
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I agree with you on that.
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Great video, thanks for sharing. I've smashed the upvote button for you!
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This post has received a 6.46 % upvote from @booster thanks to: @elijah526.
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Hello, I am the admin of the facebook group ''Steemit for Resteem'', please read our rules to post in the group : Steemit for Resteem Rules↕.
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You got a 15.74% upvote from @upmewhale courtesy of @elijah526!
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