Financial privacy has practically vanished over the last 50 years. Most people are in denial about it, and still believe that their relationship with their bank or their credit union is confidential -...
In crypto all transfers require a cryptographic signature from a private key that doesn’t have to be shared. In credit cards, you literally give your private key to the merchant and trust them to take the right amount. The difference of these two security models is enormous.
Also, privacy coins are private. The blockchain isn’t a ledger that shows who spent what to who in privacy coins like Monero.
you probably invested in it and lost a bunch of money. people who blindly and universally hate crypto as a whole usually got fucked over in a scam or in the markets
Besides the power which crypto helps with because it absorbs stranded power or gives a customer for steady income to a power company that can help build more infrastructure. What else is a problem with crypto?
Why?
Crypto is just as insecure as credit cards. The whole point of the blockchain is that everyone can see all transactions.
You’re talking about privacy, not security.
In crypto all transfers require a cryptographic signature from a private key that doesn’t have to be shared. In credit cards, you literally give your private key to the merchant and trust them to take the right amount. The difference of these two security models is enormous.
Also, privacy coins are private. The blockchain isn’t a ledger that shows who spent what to who in privacy coins like Monero.
Not Monero!
Crypto
You are dismissing an entire category with that one word. Are you sure you’re not throwing out any babies with that bathwater?
Crypto is problematic for many reasons.
you probably invested in it and lost a bunch of money. people who blindly and universally hate crypto as a whole usually got fucked over in a scam or in the markets
I’m smart enough to not “invest” in something that has no real world value and that isn’t protected under law.
Crypto tends to be pump and run and I don’t trust it worth a hoot
Besides the power which crypto helps with because it absorbs stranded power or gives a customer for steady income to a power company that can help build more infrastructure. What else is a problem with crypto?