FTX Token, FTT down by more than 80% in less than 24 hours

Re:FTX Token, FTT down by more than 80% in less than 24 hours by kevinak on Tuesday November 08, 2022 @04:50PM (#33524791)

Not everyone has this privilege. In fact, most people in the world can't do what you're doing. For them it is immensely hard in comparison.

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Re:FTX Token, FTT down by more than 80% in less than 24 hours by knorker on Wednesday November 09, 2022 @10:33AM (#33533024)

Most people in the world can definitely not use cryptocurrencies.

Maybe the average nonprivileged will succeed once or twice, but this is like going to Vegas and using the martingale system: It'll make you win consistently, right up to the point where you lose everything you have.

I've always found the "what about the third world" arguments bizarre. As if villages and huts are filled with technical geniuses who will never lose their passwords.

And if not wallet keys, then all the blockchain mini-banks who give you no recourse if you lose your second factor, and don't have to because they're not regulated.

And that's the mini-banks who aren't plain rugpulls, or get hacked.

The people who are privileged enough to successfully be able to use cryptocurrencies are also privileged enough to even more successfully use proper banking.

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Re:FTX Token, FTT down by more than 80% in less than 24 hours by kevinak on Sunday November 13, 2022 @03:12PM (#33586842)

Are you insinuating folks in the developing world are incapable of understanding and handling their own keys? Wow.

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Re:FTX Token, FTT down by more than 80% in less than 24 hours by knorker on Sunday November 13, 2022 @05:54PM (#33588239)

People in rich countries can't either.

Please review the HN guidelines: https://news.ycombinator.com/newsguidelines.html

I will not engage further.

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