Somebody steals your bank info and withdraws $100k from your account

>If using the Web still required accessing text-only services via the command line, it would not be commonplace.
Can we please go back to this era?

This is the price to pay for centralization being the first step towards communism.

True freedom, decentralization, is not meant for stupid people. That's why the world should fear Bitcoin. Because if it replaces our current system, natural selection shall take its course

>not caring enough to secure your own shit during the greatest bull run in history

plasma network will change that. better buy some ETH and OMG now

You are too retarded if you don't think hardware "wallets" will be 1000x more secure than a bank.

If someone steals your hardware wallet they can't do shit with it because they don't know your pin. No one can move your coins with out that.

You could also keep the recovery phrase in separate locations and itself encrypted.

And YOU control your security, you don't have to trust anyone.

>young people
Shouldn’t you be playing minecraft smallballs?

>walking down street
>someone mugs you and steals your wallet with 100k in cash in it
>SORRY DUDE GUESS YOU'RE OUTTA LUCK XD
you dumb fuck

fuck you got me, I walk around with 100k cash every day

>Keeps all funds in one private key that people could potentially rob, I'm sure banks would do that

I don't know why people think that cryptos won't get easier to use and that we won't overcome the issues we face with mainstream adoption

Just to continue this note, because the more I think about it the more I think that people are so fucking stupid lol.

First computers
>Uh oh too complex might as well give up, we have mail anyway
First social media attempts
>Uh oh too complex might as well give up, we have phones anyway
First cryptocurrencies
>Uh oh too complex might as well give up, we have credit cards and fiat anyway

The internet and smartphones are pretty complicated too but all the complexity has been abstracted away into simple taps so that retards can use them.

>Hardware wallets are amazing because robber cant access them
Absolutely ebin user. You still lost your coins though.

Hardware wallets fix shit

You didn't lose shit you can restore it from the recovery phrase.

>hardware wallet gets stolen
>Just restore em bro

Nah, the banks are coming to offer custodial crypto accounts to the normies who are are afraid of controlling their own keys. It will happen.

>what is insurance

Don't know how dense you are, but I'll try to explain it. Your hardware wallet can sign transactions without exposing the private key. You keep your recovery phrase in a very secure location, either physically or encrypted and you don't have to access it because your hardware wallet can sign transactions. But you can use that recover phrase and import your key into any wallet you want, its just not as secure as using the hardware wallet. So if you hardware wallet gets lost or stolen, the thief can't use it without the pin, and you can just use the recovery phrase to move your coins to a new wallet.

make a bank for crypto that offers centralization if people want it. crypto is a choice. you can choose to remain off the grid at your discretion.

>government seizes your usd, gold, and other assets
>sorry dude guess you're out of luck

Yes. You can buy a new hardware wallet and restore your crypto from the seed. That's exactly how it works, retarded nocoiner.

>Cryptos will free us from using banks
>Needing banks to hold custody of our crypto assets so we don't get hacked

hardware wallets seem like you're just shifting the problem
instead of having to protect a private key you now have to protect your seed

leave you underage fag

you make it seem like a all or nothing proposition. the point is it gives you, the user, the choice. that's freedom. there are benefits to centralization and decentralization.

what business is going to take crypto when the value of it changes by the minute?

I've said this a hundred times, but all you'll hear from the purists is: "REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!!!!!!"

They are fucking delusional.

>us
>normies

some do already, but what i hope to happen in the future is as the technology becomes more regulated and exposed, it will become less volatile. but who knows? it's the future.

>crypto banks

You utter fucking RETARD. How would a "crypto bank" be ANY fucking different than the banks we have today. You'd be trusting your money to a centralized authority - which is exactly what you dipshits claims you're trying to get rid of.

Jesus FUCK the cognitive dissonance from you clowns is mindblowing.

it's not a black and white proposition

the point is that you could (and some subset of users certainly would) freely move between managing their own keys and banking, and using a professional service to do so, which is not a choice available to fiat users.

there's no real downside to those who still want to live in the Desert of the Real, but the increase in uptake and liquidity would be positively reflected in crypto market caps.

exchanges have insurance. But yeah some dumb Stacy getting malware that steals her btc is a real risk.

This single post is the most rational one I've read this week on biz.
The hive mind/echo chamber that is biz grossly overestimates the number of normies in crypto.
The truly big normie wave.
The surge that will make all this board rich and filthy rich to the ones that already made it will come from crypto managers.
Normies will never be tech savvy enough to handle crypto on a massive scale.
Most people can't handle a credit card properly. A lot of people don't even handle digital assets and we are talking first worlders.
The normies that will make crypto boom are the ones that won't be ever aware they are interacting with the blockchain.
Let alone invest in it.
We are all gonna make it.
Some in 2018 some in 2020 some in a decade from now. But anyone on this board right now has a much higher chance of making it that 99.99999% of the world population. Not even memeing

>freely move between managing their own keys and banking

And this is different from the current setup how?

I am perfectly free to move my money to another bank, or withdraw it all and stuff it in my safe. What the HELL is the difference?

I appreciate your post

>someone breaks into your gold vault and steals all your bullion and coins
>SORRY DUDE GUESS YOURE OUTTA LUCK XD

one day crypto wallets will be insured like a stack of gold

Forcing people to put skin in the game is the only way to improve financial security and privacy.

People don't care about those things because they gladly outsource it to the banks/credit agencies that plaster your information all over the web from hacks. This ensures the system improves since people keep using it, applying the bank bandaid to the wound created by the bank.

Bullion from reputable dealers is serialized and can be documented & insured.

How would you propose doing this with crypto?

>system never improves*

It will be normie proof at some point and the group that is able to do this will become very rich.

your serial number is not going to help you when it gets filed off or melted down

>>somebody steals your crypto currency private key and withdraws $1m usd worth of coins, or an exchange gets hacked
>>SORRY DUDE GUESS YOU'RE OUTTA LUCK XD
>This is why crypto will NEVER go mainstream as a real currency or store of wealth

You're an idiot.

That's the whole point of crypto.

YOU are the fucking BANK.

Do you think the money in your bank account is actually yours?

By law, it's the banks. They own the account and they own the money in the account.
They even own the debt that you think is yours.

Whenever they want to they can freeze the funds and tell you to go take a hike.

If you don't get crypto, get money and get the blockchain. then don't enter this space.

I think you are completely right. The market might swing like crazy and shit coins will be purged. However, five years down the line everyone on this board now is still an early adapter and is in a much better position.

I mean is it necessarily a good or bad thing that normies wouldn't get into it though

the difference is that the assets themselves are decentralised, and are not subject to arbitrary issuance, nor other problems associated with a paper cash economy, and the presence of that viable 'exit' option creates the incentives for professional crypto management services to be aligned with the permissionless cryptoeconomic model.

dubs of clairvoyance
I believe in you user, if you believe in me.

>first class problems
bitch I have $7 in my savings account

You missed the point entirely.

So I take my cash and buy gold.

to be quite honest with you, this

why would you not be able to insure a crypto wallet in the same way as a gold vault

I'm not saying that crypto won't get a lot worse before getting better.
But the thing is I don't see a future where the blockchain isn't playing a major role in finance, government and administration.
I don't see a future where crypto ceases to grow in the long run.
And I don't see a future where Veeky Forums isn't one of the crypto vanguards of the Internet.
But perhaps I'm wrong. Idk.
I try to figure a way that will kill crypto and the only thing that rustle s my jimmies is quantum processors. But I haven't read much in that subject

and you're going to send gold around the world to facilitate trading faster then crypto and faster then traditional banks?

just on a random note, what wallets should i be using? i just need some suggestions.

I got into crypto a while ago and used coinbase back then. took all my bitcoin from there just recently and have heard that coinbase is not a good wallet anymore.

pls halp.

The social and economical cost of that assurance from your corrupt as all fuck bank is not worth it. Central banking has brought about a modern worldwide serfdom.

Are you illiterate? Read the question again.

Will you morons stop jumping into the middle of a fucking conversation before reading the whole thing?

I can't believe we made this far with actual discussion without a pajeet Shilling bazingacoin or someone posting a discord pnd group.

i am caught up to the conversation friendo, you should not be so angry, it's bad for your health.

>>So I take my cash and buy gold.

in response to you are asserting that gold has the same properties as a decentralized asset that 'are not subject to arbitrary issuance, nor other problems associated with a paper cash economy...'

while my retort is that gold is not as fast as crypto or traditional banks in send or receiving money as it is a physical object that requires transportation.

Pajeets are sleeping.

>Bullion from reputable dealers is serialized and can be documented & insured.

crypto is also "serialized" and "documented"
its literally how the entire system works

I dont understand the major block you are having here. Why would you be unwilling to insure someone's cold wallet?

Easy, I make it back with the 10% daily gains from the trading bot I use.

satoshibox.com/opw4dm4acoom4ov8ie7i7i4h

yeah and no one will use computers and emails, way to complicated for normies