this post was submitted on 13 Sep 2023
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the_dunk_tank
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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.
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
Yea and banks too get robbed. Except that banks are insured and in the worst case they can ask the central bank.
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.
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
right up until the value of the wallet craters because you picked the "wrong" coin.
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
good luck with that i guess, not everyone was as lucky as you and no one knows if you will be lucky either.
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
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.
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
Nevermind stolen. It just looks like a miserable way to IO