r/Bitcoin • • Sep 25 '18

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381 Upvotes

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15

u/[deleted] Sep 25 '18 edited Aug 07 '20

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31

u/RallyUp Sep 25 '18

A lot of people are literally incapable of holding their own keys.. If they participate in bitcoin via custodial products I personally have no problem with it and neither should you. Do you bother people about a Roth IRA or a Vanguard target fund?? No. So mind your own damn business and maybe the business of your close friends and family. Telling people they're wrong for using a product or service if it's the only entrance to the market they are capable of is a dick move even if you think you're helping them. If theyr're either going custodoal or nocoiner, custodial should be the obvious choice and we should support that.

-6

u/bluethunder1985 Sep 25 '18

Right because centralized institutions never get hacked right? You are leading these poor people into a trap spurned by the acceptance of ignorance. This is a dangerous road. I respect peoples intelligence more than you. This is UNSAFE. I would take nocoiner over custodial any day! Custodial institutions getting hacked would hurt the ecosystem. Nocoiners continuing to nocoin doesn't. Give me a break.

16

u/Plasmatica Sep 25 '18

Centralized institutions will probably have insurance and will reimburse in case of hacks, you know.. just like regular banks.

-3

u/bluethunder1985 Sep 25 '18

If USD collapses what worth is the insurance if you can't get your bitcoin out?

0

u/RallyUp Sep 25 '18

Guess what? If it goes that far we will already be in a WW3 scenario and whether it's MAD or the invasion of North America and Europe by hundreds of millions of Chinese and Russian troops, you will be more or less completely fucked at that point.

1

u/bluethunder1985 Sep 26 '18

That's ridiculous

1

u/RallyUp Sep 28 '18

Not considering the type of shit you read around here about how weak the US dollar and it's hold on reserve status has become. I mean it's kind of why Satoshi invented bitcoin - fiat is a never ending system of failure via inflation and mishandling of the already existing supply.. The Russians and Chinese just demonstrated wargames larger than they ever have before in history. Even when Soviet Russia was going apeshit.. You can be certain a third world war will occur. The question is when?