I was assured this kind of thing was part of cryptocurrency's "growing pains" and after the first... six times a major exchange was hacked and millions of dollars stolen it would never happen againhttps://twitter.com/davidgerard/status/1225554158561955842 …
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It had happened to mainstream financial institutions.. then govt bailed them out.
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That’s not what happened in 2007.
End of conversation
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To be fair, this still isn't as bad as the time the CEO died and nobody else had the password to access all the money.
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There's also a critical difference: banks are insured. No matter what happens to their systems or physical money, one of the wealthiest governments in the world pledges that your thousand dollars will still be a thousand dollars tomorrow and I put more faith in them than software
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