Stefan Thomas lost the password to an encrypted USB drive holding 7,002 bitcoins. One team of hackers believes they can unlock it—if they can get Thomas to let them.
Well, a shipwreck is far more likely to destroy a flash drive than gold. At least gold can be recovered in most scenarios. Good luck recovering data from a flash drive damaged by salt water, assuming you can find such a tiny thing on the seabed among all the debris in the first place.
As for inflation. Yes, it’s a problem. But no ‘real’ currency fluctuates nearly as much as crypto.
One day, you’re a millionaire. The next day, you’ve got squat.
Plus, the entire system relies on human greed. Each and every single crypto-bro I came across preaches about hoarding… almost as if it’s a pyramid scheme. No one ever talks about spending or using it as an “actual” currency, which is what it’s supposed to be.
Crypto is all smoke and mirrors, not much unlike NFTs, as far as I’m concerned.
In make-believe currency.
An ‘incident’ like this wouldn’t have happened with “real” currency.
Everything is make believe currency.
A lost safety deposit box key is an old urban legend. Not sure if it’s ever happened, but it could happen with a real currency.
It’s not a currency.
Never heard of gold coins lost in shipwrecks, banks losing track of their accounting, or inflation?
Come-on, man. Shipwrecks?!
Well, a shipwreck is far more likely to destroy a flash drive than gold. At least gold can be recovered in most scenarios. Good luck recovering data from a flash drive damaged by salt water, assuming you can find such a tiny thing on the seabed among all the debris in the first place.
As for inflation. Yes, it’s a problem. But no ‘real’ currency fluctuates nearly as much as crypto.
One day, you’re a millionaire. The next day, you’ve got squat.
Plus, the entire system relies on human greed. Each and every single crypto-bro I came across preaches about hoarding… almost as if it’s a pyramid scheme. No one ever talks about spending or using it as an “actual” currency, which is what it’s supposed to be.
Crypto is all smoke and mirrors, not much unlike NFTs, as far as I’m concerned.
You should know better.
bitcoin mostly is an asset not a currency, similar to gold. comparing assets with currencies doesn’t really make sense.