> There's a literal saying, "Not your keys, not your coins".
Doesn't that also legitimatize a hack then? If someone hacks or steals your keys, you can't then turn around and say "but wait, those aren't your keys".
Doesn't that also legitimatize a hack then? If someone hacks or steals your keys, you can't then turn around and say "but wait, those aren't your keys".
The issue with reversibility is that it’s not just reversibility - it’s also the power for the authorities to take your assets from you.
The question isn’t “do you want to be able to get your money back after it was stolen”, it’s really, “do you want the powers that be to be able to decide whose money it is.” We’ve been lucky to live in a world where “yes” is a reasonable answer. But there’s no guarantee that it’ll stay that way. And crypto is insurance against that possible change.
But either way, it's a tradeoff and that's fine. TradFi is reversible and centralized, crypto is not. Sometimes you want one thing, sometimes you want the other.
I like having part of my assets in a way that can't be frozen, like the people that protested in Canada whose banks accounts were frozen.