Comment by Aurornis
1 day ago
That’s also a downside: When your funds can be transferred away by anyone who happens to acquire the key without triggering any fraud prevention or additional verification checks, losing your entire bank account at 4AM Sunday morning becomes much easier.
This is why people who happen to own significant amount of crypto typically get hardware wallets
That would make it a single point of failure, no? Not a good idea if your company is riding on it.
multisig exists
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Yes, let's go back to hiding cash and gold under our beds. Maybe buy a machine gun so you can defend it from home intruders.
> Yes, let's go back to hiding [...] gold under our beds
The people that did exactly that never had to worry about (hyper)inflation...
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Doesn’t that mean a home invader can break in, torture you a bit and walk off with your millions?
I think there was a rash of this kind of this kind of wrench cryptocurrency robberies in the Netherlands a few years ago.
Break in, bash owner about with a wrench, get coins. <Insert xkcd>
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[flagged]
I bet you can. And I bet that raising the limit takes you a few minutes at most. Or you need a better bank.
> Or you need a better bank.
There are no good banks in Canada.
Why do you have a bank? Don’t you use crypto for all your needs? Or does crypto fail you in that?
No one actually accepts crypto
If your bank doesn't want to raise the limits, there's probably good reasons behind that.
No, there's not. There are rarely good reasons behind what banks do because these are organizations that are run by mediocre people who are not incentivized to not suck. They don't care at all about anything. This "fraud prevention" thing only gets in my way and doesn't prevent the less sophisticated people from sending their money to India.
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> If your bank doesn't want to raise the limits, there's probably good reasons behind that.
Why would their having reasons make me feel better when my payments don't go through? We complain when Apple plays nanny and makes their product a walled garden. How is a bank different? They should be doing their job without causing inconvenience for me.
Unnecessary rudeness.
Strong language used for emphasis. I apologize if anyone was offended.
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