‘I Forgot My PIN’: An Epic Tale of Losing $30,000 in Bitcoin (opens in new tab)

(wired.com)

37 pointssubdane8y ago5 comments

5 comments

5 comments · 2 top-level

simonblack8y ago· 3 in thread

Wealth that you can't hold, see or touch is imaginary. Wealth that relies on electricity doesn't really exist in the real world.

The population of Puerto Rico is discovering that only physical cash is usable, because the lack of electricity means that the so-called wealth accessible by plastic card is no more available than the surface of the moon.

x09as-d09asd2138y ago

Wealth that you can't use, eat or produce is imaginary. Wealth that relies on paper doesn't really exist in the real world.

The population of the post apocalypse is discovering that only old fashioned trading is usable, because the lack of resources means that the so-called wealth accessible by paper scraps is no more available than the surface of the moon.

prostoalex8y ago

Wealth doesn't usually rely on paper, paper is just used as a transaction medium. A wealth storage instrument would be a piece of a real estate, land, shares of a publicly traded company. It's usually converted to paper currency for convenience, but it doesn't have to if we had an easy way to transfer assets themselves to one another.

norlys8y ago

Best reply ever.

bhhaskin8y ago

This is just dumb. Would you stick your social security card or birth certificate under daughters pillow? No. you would put it in a safe place. If you want to make sure family members know about something in case something happens to you then you put it in a safe place and leave instructions.

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