I think most people get scared away from crypto because they are told, rightly, that if they don't understand the notion of keys that they can lose everything and there is nothing that anyone can do to get it back for them. People generally have gotten lazy to the point where they complained when ATM Pin codes went from 4 to 6 digits. Tell these people that they have to put a 72 digit or whatever it is key somewhere and NEVER lose it is a pretty scary notion to them. When you tell them that there is no tech support and if you lose it, it is just gone, they don't want to have anything to do with it.
Although I have never used any of the major exchanges such as Coinbase and what not, that might be the only way they would ever get involved. It's my understanding that these things have brought in a ton of new and naive users and I guess that is a good thing. There's a lot of "where lambo?" people out there as a consequence though.
Well dang you absolutely make some awesome points! Can't find a single thing you said that I disagree with. It's a shame I guess. Perhaps this is all just a much slower process than I imagined it would be. I absolutely have used Coinbase and still do so often LOL. I know I should use cold storage. I do have a hardware ledger wallet that I have not used in a bit as well. I guess I just use Coinbase because I sort of lie to myself and say I'll use cold storage one of these days. It is comforting to know that if I so choose I could move the funds over to cold storage. I don't know LOL. I suppose yes the point is pretty valid that the funds would be hard/impossible to recover if keys were lost. I guess this is simply the risk in a tech that is pretty new and one of a kind. Hmmm. You bring up good points.
Yeah the Lambo people are a bit annoying. I am on the spectrum there more or less. I would categorize myself as a 'let's have a decent, much less stressful life, maybe own an adequate property' crypto person lol.
Thanks for your well thought out comment! Definitely thought provoking.
cold storage would be the way to go for ultimate security but I also have never done that. I don't really have enough of it to be super paranoid about it. I have unfortunately gotten involved with exchanges that were attached to a phone OTP system and the phone died and then I had no way of getting back in there. I have since become a lot smarter about all of that though. Live and learn!
Dang, sorry to hear that. Yeah, I definitely get what you mean by live and learn, trial and error. I'm the king of screwing up sometimes, but gotta take some risks sometimes!