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If this thing is inevitably going to $1M and beyond as people think, Bitcoiners are going to become targets.

This isn’t fiat permissioned money, this is liquid wealth with immutable transactions.

Fiat permissioned money isn't much safer anyway, not like people think. I've had a bank flatly refuse to reverse a blatantly fraudulent four-figure charge before.

(There's an ombudsman for exactly that situation - and I've never agreed to any Direct Debit since.)

And I've reported scammers asking for payments to a different Australian bank and heard... crickets.

People need to take ownership of their own security, bitcoin or fiat. The government doesn't GAF unless you're a big shot or can hire a legal rep who is.

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Discussion

StackSats.IO 1y ago

If you were to rob a fiat millionaire though, you’re not getting much was my point. If forced to sign over the deed to a house, the thief isn’t going to get to keep the house.

If someone kidnaps Elon Musk, they’re not going to get to get to keep his stock in Tesla and Xitter and SpaceX.

Rob someone with a Bitcoin, and that corn is in your custody within 10 minutes and irreversible after an hour - that’s a very different proposition.

Throw in political and economic turmoil which Governments will blame on Bitcoin and Bitcoiners and suddenly the threat model looks very different. Absolutely people need to take care of their own security, I’m just not sure many are thinking through what that actually means.