- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Why bitcoin is worse than a Madoff-style Ponzi scheme
Posted on 12/24/21 at 11:47 am to Ross
Posted on 12/24/21 at 11:47 am to Ross
quote:
Nobody has ever had their BTC stolen from a cold wallet that didn’t expose their recovery seed to bad actors. People that equate theft from an exchange to the network somehow having a security issue often have no idea what they are talking about.
They know they no longer have their assets, and there is little recourse, everything else is jut semantics.
Posted on 12/24/21 at 12:37 pm to EA6B
quote:
They know they no longer have their assets, and there is little recourse, everything else is jut semantics.
where you choose to host your Bitcoin is not just semantics. You thinking it is tells me you are either being deliberately obtuse or don’t know much about this space.
If you trust a third party to host your assets and that third party fails you, that doesn’t mean anything is wrong with the asset, or for a digital asset on crypto rails it doesn’t mean there is any fault with it’s underlying network; it means you chose poorly with the the third party. The failure of a third party assuredly doesn’t mean the network itself has a fault.
If you self-custody and protect your recovery seed, you can be as absolutely guaranteed as with anything else on Earth your assets will never be confiscated. This is because the Bitcoin network is the most secure network humanity has ever created.
This post was edited on 12/24/21 at 12:47 pm
Popular
Back to top
Follow TigerDroppings for LSU Football News