.....
And afaik, because of the secure element, Ledger is not fully open source. So leaving your funds "on" a Ledger is a bit like trusting an exchange...
But yeah, you do you
When some employee steals funds off a Ledger wallet because not open source, let me know.
My bank teller knows my account number. So far, I'm still good.
Personally, I'm more concerned about Amazon knowing my cc number.
But yeah you do you too...
Btw...that reminds me, I'm gonna be remixing my late bandmates song "Paranoid Delusions"
Really bad comparison...
The funds in your bank are insured, if there are issues. Ledger company will show you the finger if their hardware fucks up....
...
The Cyprus banks ripped off someone here for hundreds of thousands of euros when they went bankrupt years ago. That's the model the EU intends to use for the whole EU next time the banks go bankrupt. So if there are issues...
The most of circulating assets on our business Current Account are blocked.
Over 700k of expropriated money will be used to repay country's debt. Probably we will get back about 20% of this amount in 6-7 years.
I'm not Russian oligarch, but just European medium size IT business. Thousands of other companies around Cyprus have the same situation.
The business is definitely ruined, all Cypriot workers to be fired.
We are moving to small Caribbean country where authorities have more respect to people's assets. Also we are thinking about using Bitcoin to pay wages and for payments between our partners.
Special thanks to:
- Jeroen Dijsselbloem
- Angela Merkel
- Manuel Barroso
- the rest of officials of "European Comission"
P.S. The worst thing is, that even a month ago I was suspecting that things can go wrong. In February, I several times called my banker and lawyer and asked them if money on the account is safe, mentioning that article in
Financial Times. But they convinced me that there is no reason to worry, and even if country goes default, in no way current accounts may be affected.
"This is European Union and banks here can't just grab your money and go" I was told.
I got a hard lesson and now I know the meaning of phrase "TRUST NO ONE"....