this post was submitted on 27 Jul 2025
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It depends greatly on how it's stored. Most people just keep it in an exchange, which are robbed fairly often. Which wouldn't be a problem with real cash as there are laws in place to protect you. With crypto you have no recourse.
Yes, as everyone knows, if you are mugged in the street, you can just say "no". The robber legally cannot take your money without your consent.
Have you heard of a bank? That's where non criminals tend to keep their money.
Let me be more explicit: You say that like the people running banks aren't the exact sort of people who think that laws are merely suggestions and that fines are the cost of doing business. Finance bros are exactly the same as crypto bros, except instead of shitcoins they talk about Byzantine financial instruments that only have a 90% chance of collapsing the country's economy but has a 10% chance of making them $10000000000.
All I'm saying that is if someone hacks the banks computer and takes the money you will get it back. Same if someone steals your credit card and makes a bunch of fraudulent transactions or the bank goes out of business. If someone does any of those things with crypto (which happens distressingly often), your money is gone.