Submitted by fudge_u t3_yrzmif in technology
Policeman333 t1_ivyynco wrote
Reply to comment by flyingkiwi46 in FTX looks for $9.4 bln in rescue funds, Bahamas freezes some assets by fudge_u
>write down seed phrase from cold wallet on a piece of paper or stamp it into a metal card/sheet
It gets lost, thrown out, your neighbors house catches on fire leading to a housefire in your own house, you forgot where you put it, tornado/hurricane, etc.
How did you gloss over that? No matter how you spin it, its a huge security flaw. If a single point of failure is all it takes for you to lose everything, it's a shit system.
flyingkiwi46 t1_ivz021a wrote
Thats the responsibility of the user to store the phrase in a safe place tho...
If you can't find a safe place to store your stuff then crypto is the least of your concerns
I mean if you're invested in physical gold I doubt you will "lose" it or store it in the open so why not treat your seed phrase the same way?
As for the fire you can use a stainless steel case if you're that paranoid lol
For reference
Policeman333 t1_ivzqkyj wrote
Alright, now try a hurricane hitting your town. What excuse are you going to come up with now? Just don't live in a place that gets hurricanes? Create a second copy of your catchphrase a million miles away?
Like I said:
>No matter what you do with crypto, cryptobros will always blame people instead of acknowledging the huge flaws in the system they advocate for.
No matter what precautions you take, even in a fire you guys come up with "just use stainless steel". You guys can sit and type out essays about all the problems with fiat and banks, but refuse to even acknowledge the most basic of flaws with crpyto.
>I mean if you're invested in physical gold
Cryptobros and the people who think investing in gold is smart are the same people.
flyingkiwi46 t1_ivzvqcr wrote
>Alright, now try a hurricane hitting your town. What excuse are you going to come up with now? Just don't live in a place that gets hurricanes? Create a second copy of your catchphrase a million miles away
Yeh..it seems like it doesn't matter what I reply with you will just come up with another imaginary scenario on why its not possible to safely store your crypto so its pointless to argue any further
>No matter what precautions you take, even in a fire you guys come up with "just use stainless steel". You guys can sit and type out essays about all the problems with fiat and banks, but refuse to even acknowledge the most basic of flaws with crpyto.
I already acknowledged that there are flaws in crypto but keeping your crypto safe isn't one of them
>Cryptobros and the people who think investing in gold is smart are the same people.
A well diversified portfolio is a healthy portfolio that means holding cash along with gold/stocks/crypto/bonds & real-estate
darth_aardvark t1_ivziuya wrote
>I mean if you're invested in physical gold I doubt you will "lose" it or store it in the open so why not treat your seed phrase the same way?
Yeah that's why i'm not fucking invested in physical gold
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