frostdragon on Nostr: Bitcoin “could be bad” in the sense that a large percentage of the population, if ...
Bitcoin “could be bad” in the sense that a large percentage of the population, if not most, won’t understand how to securely hold their keys because of how foreign the concept is, and will either lose or get scammed out of their money. As simple as “don’t ever give away your private key” is, it’s new and unknown to so many people, and they’re not going to know who to listen to. People will passphrase protect their wallets thinking that’s something they can reset or recover. People will get phished. It will be a brutal transition for a lot of people, and there will be too many cases for anyone to do anything about it.
Published at
2023-08-04 14:13:15Event JSON
{
"id": "44d097465bdf21f7f6fa56f7a56cd1e7406d799839a6d608af86160787cf858b",
"pubkey": "771888e462a69b4e80ef1903281290dbb9c85a15e276338bc76d46ef86707f1e",
"created_at": 1691158395,
"kind": 1,
"tags": [
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"content": "Bitcoin “could be bad” in the sense that a large percentage of the population, if not most, won’t understand how to securely hold their keys because of how foreign the concept is, and will either lose or get scammed out of their money. As simple as “don’t ever give away your private key” is, it’s new and unknown to so many people, and they’re not going to know who to listen to. People will passphrase protect their wallets thinking that’s something they can reset or recover. People will get phished. It will be a brutal transition for a lot of people, and there will be too many cases for anyone to do anything about it.",
"sig": "fc554887e57dd68c5381ced815ffe1cc055252c7a332c23bcde6d6105dddae38fc1e32952cccd23ca36076588ea69b6b2c51f69348f6257ad8dc2027621f3721"
}
