Social Question

Inspired_2write's avatar

Do you think that cyrptocurrency accounts should have better security in place?

Asked by Inspired_2write (14486points) November 18th, 2021

Just saw this article today.
Link to this warning article:
https://www.cbc.ca/news/canada/hamilton/crypto-arrest-1.6252487

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6 Answers

kritiper's avatar

Can’t say since crypto currency sounds like a scam anyway…

filmfann's avatar

Better? How about some?
Some would be nice.

gorillapaws's avatar

@kritiper ”...crypto currency sounds like a scam…”

I think “scam” is a bit too strong. It’s more like people making foolish investments counting on others to be even more foolish. It’s like digital tulip bulbs. At the end of the day, people are exchanging real currency for a number, hoping other people in the future will pay them more for that number than they paid for it.

Security? Yeah, I would expect cryptocurrency brokers to maintain high cybersecurity standards. The thing is, humans are always the weakest link in any system, and attackers have a lot to gain from “robbing the bank” so-to-speak. The fact that cryptocurrency is so easy to rob and difficult to trace is one of its many inherent flaws.

Lightlyseared's avatar

Having read the article what probably needs better security are mobile phone accounts.

kritiper's avatar

@gorillapaws Crypto currency is based on nothing. And. as you know, if anything sounds too good to be true, it usually is.

gorillapaws's avatar

@kritiper I think of the word “scam” as involving some kind of deception. There’s nothing deceptive about crypto, it’s just numbers that people seem willing to exchange money for. People aren’t being tricked, they’re just foolish enough to spend money to buy numbers.

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