Re:Cryptocurrency scams cost owners $7.7B in 2021, driven by...
by AnthonyMouse on Thursday December 16, 2021 @03:08PM
(#29583217)
The obvious solution is to have both and then make sure that people understand what they're getting into.
Traditional banks should exist and be regulated and insured etc. People with a low risk tolerance should be encouraged to use them.
People with a higher risk tolerance or who are trying to do something innovative or disruptive should have a system that works for them too. People with a low risk tolerance are not required to use it. People with a high risk tolerance will be exposed to a high risk, as requested.
No, it is not trustless, it simply shifts trust from central authorities to more nebulous entities such as anonymous developers, shady mining cartels, unregulated exchanges, and even yourself to not lose your private keys. Which you consider to be better is essentially a political decision.