Re:Woman holds up Lebanese bank for $13k of her own money
by gruez on Wednesday September 14, 2022 @09:34AM
(#32836946)
>1. You can store cash, if you choose to. Way way way easier than Crypto.
No.
1. Cash is bulky and if you need to store a non-trivial amount it quickly gets expensive (eg. installing safes). Crypto can be stored on a piece of paper, or in your head.
2. cash is treated unfavorably in various legal systems, from civil forfeiture (aka carrying a suspiciously large amount of cash) to outright bans on cash transactions over a certain size
3. crypto can be stored redundantly (ie. 2 of 3 multisig), cash can not.
>2. Can average citizen safely and reliably store crypto on their own anywhere nearly as easily and safely as cash?
If we compare like for like (ie. stuffing it under your mattress doesn't count), then I find the effort to train someone to use a 2 of 3 multisig software to be comparable to installing some sort of floor bolted safe.
No.
1. Cash is bulky and if you need to store a non-trivial amount it quickly gets expensive (eg. installing safes). Crypto can be stored on a piece of paper, or in your head.
2. cash is treated unfavorably in various legal systems, from civil forfeiture (aka carrying a suspiciously large amount of cash) to outright bans on cash transactions over a certain size
3. crypto can be stored redundantly (ie. 2 of 3 multisig), cash can not.
>2. Can average citizen safely and reliably store crypto on their own anywhere nearly as easily and safely as cash?
If we compare like for like (ie. stuffing it under your mattress doesn't count), then I find the effort to train someone to use a 2 of 3 multisig software to be comparable to installing some sort of floor bolted safe.