Post
Topic
Board Economics
Re: "Be your own Bank with Bitcoin" - A reminder why this is so important!
by
beej
on 25/09/2022, 15:39:54 UTC
Bitcoin doesn't remove the risks of you getting mugged. If anything, it's potentially worse with bitcoin/crypto. They just hit you with a wrench at your home until you give up access to your wallet. Hence why being private/secretive about your holdings is very important!

https://cryptosec.info/wrench-attack/

I acknowledge the importance of privacy with your holdings and investments, I believe
it is a matter of great importance to do so. I think banks and bitcoins have different
significance in storage and accumulated wealth. Banks are safekeeping monetary
institutions, traditional in a sense if you think much about it. However in today’s
trend and computing advancements , the emergence and rise of Bitcoins and
cryptocurrency has given a new kind of capability and control to peoples investment
and money. It’s a matter of preference since both are essentially vital in today’s
financial framework. I think large amounts of money is safe in banks, there are
new and improved safeguards that keep things that way, bitcoins are great
investments options that has been promising and competent throughout the years,
That in fact if you don’t mind the volatile nature and component bundled with it.