Coins Stolen from Wallet

That's like saying car companies are responsible to teach you how to drive safely.

Well if power groups block it or make it harder to use you're going to be left with the people who don't care about said rules. Keep something illegal long enough and you're going to have some people breaking the law. Simple to point the finger at them after the fact and go "see? only criminals are doing that" Also the fact that they use it means that it's working, if anything. I also can't see a simple way for people who can control the value of money to just give up that power.

> The solution for all these and crypto, is education.

I disagree. Educated people still make mistakes, and still become victims of fraud or viruses. A blanket statement like "we just need to educate people" is a nice way to say "no one would have this problem if they were as smart as I am". But the reality is you're just as vulnerable to a zero day or a well-executed scam.

There are many solutions. None are perfect. If you ask me, demanding everyone never make mistakes is a very poor solution compared to using systems that have failsafes.

Weaving a story, which is backed up by the court system for loss recovery, is infinitely preferable to everyone throwing their hands up and blaming the end user.

If I store money in a mattress, and someone breaks in, I can report that to the police. Deposits in banks are federally backed - if there are bank hijinks, my savings are protected.

Crypto is worse in most ways (or overall worse) every way than what we already have. /edit

For me, I'm happy for my money to be stored in a bank. The bank keeps multiple back-ups of their books and is heavily regulated by our national government. If someone attempts to steal from me or commits fraud there's some recourse by notifying the bank and potentially having those criminal/fraudulent transactions reversed. No electronic inertia (i.e via crypto blockchain) for my bank to approach another and reverse a transaction.

There are also several security features to extracting money from my account: there's an account number, name, physical access to debit card, ccv, account password, OTP, pin numbers. All of which are missing in the typical crypto ccy net.

Furthermore, banks are forced to record identity information from their customers making it difficult for a nefarious actor to conceal their identity.

One advantage for crypo ccy is potentially making anonymous transactions. I don't really have anything to hide in that regard. The mundane shop at the supermarket, ebay or even buying drinks at the pub.. nothing very revealing.

If your life savings are at risk from losing a secret key or simply by someone nicking your secret key then I'd call this a "bug".

> She called her bank minutes after it happened, but they told her that they are not able to reverse the transaction

Which bank is this?

Why wouldn’t they be able to reverse the transaction?

What do the police say?

Obviously she has contacted the police? as (unlike crypto) the police can get involved.

Where the bank was based? Not all jurisdictions have the same banking standards.

Banks have federally backed deposit insurance. If crypto was cash, it would be the worst form of it - at least if I bury dollar bills in a drum in a nearby forest, people have to do legwork to guess the location of the drum - they can't just guess numbers on a computer and when they guess right, everyone throws their hands up and goes "too bad".

If crypto was cash, it would be the worst form of cash imaginable.

I posit that crypto isn't cash, or if it is, it's the worst form of it.

> If you put it under your bed and it's stolen, do you go to the government and complain about reverting the transaction?

Literally yes. You go to law enforcement and, if they can figure out who stole it, the law allows for the return of your property.

I would guess fork means code fork where your same wallet works on that seperate network. Farm usually means something that produces a yield, which either means a loan interest or a ponzi scheme.

Indeed it is. I suspect the person asking for the reversal didn't understand the risks involved by participating in this (and similar) networks.

Because this time it’s their money and not some other fools.

Indeed it is how blockchain works within crypto currencies. I find it interesting that many participators (i.e. OP) don't understand how unsafe their coins are and this has to be explained as such by the commentator. Admittedly, perhaps not everyone finds interest in the same things as me.

I'm aware crime existed before crypto.

First google result says the worlds GDP is 91 billion USD.

First google of (only) bitcoin value is 320 billion USD.

How much theft occur in bitcoin every year? I don't know. It is not insignificant by any imaginable measure though. And the amounts are absolute staggering.

It is a new avenue.

3% to 5% of the entire world's GDP cannot come from organized crime since by definition organized crime operates outside the economy and is unaccounted for: no respectable mobster keeps their double-entry bookkeeping tidy for the IRS.

3-5% of world GDP equivalent value being tied to organized crime could be possible, but seems like a low value, based on how many entities do you include into "organized crime": do you include all the rogue/terrorist states, do you include Russia, do you include money laundering banks like HSBC or ING, do you include tax evasion/fraud schemes (Double Irish With a Dutch Sandwich, or just a plain McSandwich [1]), do you include wage theft, and so forth.

[1] McDonald's to pay France $1.3 billion in tax fraud case https://www.business-standard.com/article/pti-stories/mcdona...