[flixic]

Despite benefiting tremendously from crpyto, I don’t believe this narrative.

The article mentions the core problem: being your own bank is a HUGE risk. I can accept that risk and deal with complex security mechanisms I have to maintain to both protect my own bank and keep it accessible. But a good security guide for crypto is 20-30 pages and requires serious cryptographic understanding. Currently, I can’t expect that from average users.

Everything can be solved over time. Social recovery wallets and user-friendly hardware might become mainstream. But I don’t see that happening in the next 5-6 years, and I fully expect CBDCs to be far along in that time. Then, countries will be a lot less motivated to promote crypto for the unbanked.