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Comment by adrr | Hacker News Reader

Why crypto will never be mainstream. Be dependent on storing a private key that can get lost or stolen. Need to store a hard copy at a bank in a safety deposit box. Can’t even trust the hardware wallets you buy off Amazon since it could have been returned with malware loaded.

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It's really not any different than traditional cash. "Not your cash, not your money" also holds true. Storing lots of cash at home is even more difficult and risky. Keep your money at the bank? The govern can simply turn off your money for any reason. You're literally posting in a thread about the US government seeking to freeze Binance's accounts.

> The govern can simply turn off your money for any reason.

This obviously happens so often /s

Happened in the 90s where I live. Hyperinflation set in and government just froze everybody's accounts in a desperate attempt to stop it. It's 2023 and people are still afraid it might happen again, especially with a literal communist in power.

Cryptocurrency is absolutely valuable as a defense against government idiocy. That fact cannot be denied.

And an easy way to lose everything because you sent tokens to the wrong address, forgot your passphrase, lost your hardware ledger, fell prey to some scam or another, house burned down, etc.

Sure. Doesn't negate the benefits though.

This is all solvable and in fact solved, just not integrated in the wallets.

Find “ el corralito” in this article: https://www.freethink.com/hard-tech/crypto-argentina-black-m...

The article explains why cryptocurrencies are in use in Argentina despite the risks: mostly because Pesos or USD can have worse risks.

Happens all the time.

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