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While practically that’s true of course, I think a hardware appliance that did this that you had to physically interact with to release the funds from would be cyberpunk and cool. Imagine exchanging a handful of currency chips for like a flying motorcycle or something.

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And when that hardware fails?

The problem with crypto is that every problem requires additional layers of complication which each have their own failure modes which then need to be further addressed. And the complication itself adds yet more ways to breed failure.

This is the fundamental challenge with a system where any mistake or error results in the instantaneous and irrevocable loss of unbounded funds.

If it fails, you can’t retrieve the money of course. Don’t put more than you can afford to lose on one chip.

You understand this is insane right?

I’m not offering financial advice.

i would argue crypto isn't meant to straight replace the banking system. only substitute for it where certain privacy is required

Except it is explicitly not private?

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