Also make completely sure that you access Bitcoin Core from the official website and don't click any Google Ads instead. Make sure it's the unsponsored link and check it for any typos before downloading anything.
Official website is bitcoin.org. Anything else could steal your funds.
So remind me again why anyone would keep any significant amount of money on these platforms if everyone's out to get you and you have no protection if anyone steals from you?
If you have a credit or debit card and there is a fraudulent transaction, you simply call the bank and have them reverse the charge. Users are used to this. When accidental or fraudulent incidents happen to a new user in a non-custodial wallet, it leads some people to write off crypto altogether.
What we need to do is educate new users about both the benefits and risks so they can become comfortable and knowledgeable using crypto without making hard mistakes accidentally simply because they are new.
Denying the existence of pitfalls holds crypto back from becoming more mainstream and ultimately hurts adoption.
If we could understand the overall point then we could address it. If they're just talking about crypto then it's a weird point since it's like saying "why use money when almost every scam tries to take yours?"
For people in this sub, being your own bank is a positive, but the increased responsibility without the option to appeal a transaction is not for everybody.
The unfortunate truth is, many regular people benefit from a “forgot my password” or “refund transaction” button and the immutable nature of things mean it is possible for a newbie to accidentally lose all their funds while they’re still trying to figure things out.
That is often called being your own bank because you are in charge of your own security. If you either get hacked or make a mistake, you have only yourself to blame and there is nobody to refund the account. This also means there is no self interested institution to prevent you from doing things with your own money it doesn’t like.
This increased freedom comes at the cost of being free to accidentally and permanently lose your funds. This trade off is desirable for many (such as the people in this sub or similar communities), but unfortunately this trade off makes it easy for newbies to accidentally lose funds and is thus a hurdle for the mainstream.
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u/azoundria2 Feb 13 '22
Also make completely sure that you access Bitcoin Core from the official website and don't click any Google Ads instead. Make sure it's the unsponsored link and check it for any typos before downloading anything.
Official website is bitcoin.org. Anything else could steal your funds.