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A comment on Bitcoin and cryptocurrency prices have fallen sharply over the last few days. Parent comment

Re:Bitcoin and cryptocurrency prices have fallen sharply ove... by unhashable on Thursday March 12, 2020 @02:59PM (#22560425)
Single points of failure? Bitcoin is decentralized, like the internet. It’s designed to explicitly avoid points of failure and trusting of node participants.

Lots of Bitcoin has been lost. Good key hygiene should not be taken lightly. What is unfortunate for those losers is fortunate for Bitcoin. As the supply of lost Bitcoin increases the overall scarcity of the asset increases.

[ Parent | on HN ]
Re:Bitcoin and cryptocurrency prices have fallen sharply ove... by arcticbull on Thursday March 12, 2020 @11:50PM (#22564551)
There is no single point of failure for a bank account. If you die suddenly, your assigns can petition the court for the assets.

With bitcoin the single point of failure is always your key. That's why every random walk down the timeline leads to 100% of keys lost over the full course of time.

[ Parent | on HN ]