• FuckyWucky [none/use name]
    hexagon
    ·
    edit-2
    1 year ago

    Show

    Cryptobros now have this thing to store their 'seed' (wallet password) in. I don't understand how it works but its supposed to be fire proof (prepper vibes). Of course, it doesn't make it any less likely to be stolen.

    • HeneryHawk@thelemmy.club
      ·
      1 year ago

      Prepper vibes? I'd say it's just common sense. If you had a password to all your money wouldn't you want to keep it safe from fire and water damage? Your bank does

      • FuckyWucky [none/use name]
        hexagon
        ·
        edit-2
        1 year ago

        Yea and banks too get robbed. Except that banks are insured and in the worst case they can ask the central bank.

        If you had a password to all your money wouldn't you want to keep it safe from fire and water damage?

        I would simply won't have all my money be reliant on a steel rod. Crypto is hot potato, buy drugs and throw it to someone else so its not your problem. Anyone holding it long term as an investment is a fool.

        • GaveUp [she/her]
          ·
          1 year ago

          Idk, if I had enough money storing a little emergency fund in a crypto wallet seems like a good idea tbh

          You can avoid the banks completely freezing on you at the request of the government/cops and you can easily take massive amounts of money across borders and untraced until you transfer back to fiat

          Definitely not useful for non wealthy people though

          • silent_water [she/her]
            ·
            1 year ago

            right up until the value of the wallet craters because you picked the "wrong" coin.

        • HeneryHawk@thelemmy.club
          ·
          1 year ago

          I've had some for about the last 7 years. Honestly, I don't feel so foolish when I look at they money I have in the bank VS the money I have in crypto and how much either has changed since back then

          • FuckyWucky [none/use name]
            hexagon
            ·
            edit-2
            1 year ago

            good luck with that i guess, not everyone was as lucky as you and no one knows if you will be lucky either.

            • HeneryHawk@thelemmy.club
              ·
              1 year ago

              This is true. I'm not advising anyone to do it. I've already taken a lot of my initial out and got myself some stuff

              I'm not rich, it was a modest investment that most would laugh at

      • ShranTheWaterPoloFan@startrek.website
        ·
        1 year ago

        Why not just get a safety deposit box?

        And if you have a ton of money in crypto talk to your home/rental insurance and have it covered. You don't have to do crazy etching.

        • HeneryHawk@thelemmy.club
          ·
          1 year ago

          I've it done my way. It's not the OPs way. I don't have a ton of money

          All I'm saying is it's not prepper vibes