this is why I have a hard time believing that cryptocurrencies will achieve mass adoption: eventually everyone gets hit by a 0-day, and then your money is gone forever.
(I realise cold storage exists, but most people won't bother...)
(I realise cold storage exists, but most people won't bother...)
You might lose $100 out of your smartphone wallet every now and then. But that will hopefully be rare.
It's one of the reasons computer security is so hard. What in the real world would be a minor weakness that really is unlikely to ever be exploited is in the computer world an invitation for a bad actor to "SELECT * FROM private_customer_data" and be walking away with everything you own before the alerting system you probably don't have and probably aren't paying attention to can even go off.
The currencies are continuously inflated, not deflated.
But either way, do you seriously think that governments won't simply use cryptocurrencies to fund both war and oppression if those cryptocurrencies ever become popular? Can you possibly be that naïve?
At best you'd decouple currency from government to make the concepts orthogonal, but Bitcoin won't get rid of oppression or war, let alone crime like theft and murder-for-hire.