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CRYPTO founder steals 2 BILLION !!! - disappears

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ty_ger07
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Re: CRYPTO founder steals 2 BILLION !!! - disappears 2021/04/30 17:55:30 (permalink)
Bluuhaku
As long as people actively feed into crypto, this will keep happening. Its a literal problem with crypto's premise.


Not really.  Cryptocurrency is extremely secure and hard to steal.  It's only when going through middle-men (such as exchanges) that you can get your cryptocurrency easily stolen.  If it is in a "wallet" (address) which you control, it cannot be stolen, unless you somehow leak your private key to someone by using unsafe computer practices.  Those same unsafe computer practices could also get your money stolen from your bank account.  The private key itself would take longer to figure out than the heat death of the universe.  So, if anything, factoring in you the human who is capable of making mistakes and accidentally revealing your private key to someone, it is no easier to steal cryptocurrency than it is to steal the money that is in your bank account (which you currently trust more for some reason).
 
If cryptocurrency was ever widely used as an actual currency which you didn't just trade speculatively on an exchange, it would be extremely secure and extremely hard to steal.  It is a direct result of it being a speculative investment that it spends so much time on exchanges.  And on exchanges, it is "owned" by you only in perception, but actually controlled by someone else (who could easily steal it).
post edited by ty_ger07 - 2021/04/30 18:56:55

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