You don't defeat fiat by deleting your own wealth. Many Bitcoin maximalists reject the idea of diversification. This is the real issue.
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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 having your life savings with a single bank. Then it turns out that bank was far less secure than they claimed to be, they get breached, assets are gone and your savings are gone with it.
No victim of a loss like that would say "well clearly I should have saved some of my money in Zimbabwe dollars, some in Turkish lyra, some in Argentinian pesos, etc".
The wake-up call is simply "I should not have trusted it all to a single bank."
What just went down with Coldcard is like having your life savings with a single bank. Then it turns out that bank was far less secure than they claimed to be, they get breached, assets are gone and your savings are gone with it.
No victim of a loss like that would say "well clearly I should have saved some of my money in Zimbabwe dollars, some in Turkish lyra, some in Argentinian pesos, etc".
The wake-up call is simply "I should not have trusted it all to a single bank."
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