Damus
theSeattleUnfreeze · 7w
I think you're conflating two kinds of concentration risk: asset concentration (what most investors think of), and security/threat model concentration. What just went down with Coldcard is like havin...
digga 🇩🇪 profile picture
Where do I say invest your money in other fiat currencies like Zimbabwe dollar instead of bitcoin? You're completely missing the point I am talking about. Imagine evenly investing in 20 assets, 19 stocks and bitcoin. This hack would have meant a maximug 5 percent loss NOT 100 percent loss.
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theSeattleUnfreeze · 6w
Yes, you are correct. I suppose my analogy missed the mark. What I mean to say is: The Coldcard breach was not a failure of Bitcoin. In fact, the network worked exactly as designed: private keys were able to move funds. It was just a failure of one very poorly designed and tested vault that secured...