>you cannot store cryptocurrency on an internet-connected computer. Because what will happen is, if your computer ever gets compromised, all your money gets stolen and there’s nothing you can do about it.
This is the point of having a hardware wallet. Someone has to push a physical button in the real world to sign a transaction.
>And [ransomware] only exists because people can pay in Bitcoin.
The concept of ransoms predates cryptocurrency and would still exist without it.
>And my gain is not just the difference between what I bought it for and what somebody else bought it for, but that plus the benefit of all the dividends and interest.
Stocks aren't guaranteed to just go up. If your stocks even pay dividends that might not even cover your losses.
>So the stock market and the bond market are a positive-sum game.
The stock market isn't positive sum. Someone is going to be holding the bag when a company goes out of business.
>but [Tether] does have the potential for bank runs causing collapse, because it’s unbacked.
This is the point of having a hardware wallet. Someone has to push a physical button in the real world to sign a transaction.
>And [ransomware] only exists because people can pay in Bitcoin.
The concept of ransoms predates cryptocurrency and would still exist without it.
>And my gain is not just the difference between what I bought it for and what somebody else bought it for, but that plus the benefit of all the dividends and interest.
Stocks aren't guaranteed to just go up. If your stocks even pay dividends that might not even cover your losses.
>So the stock market and the bond market are a positive-sum game.
The stock market isn't positive sum. Someone is going to be holding the bag when a company goes out of business.
>but [Tether] does have the potential for bank runs causing collapse, because it’s unbacked.
This is false. See https://tether.to/en/transparency/
>Tether tokens, loans them to their big colleagues in the cryptocurrency space
See the above link. Their reserves aren't made up those kinds of loans.
>The cost of a transaction in cryptocurrency systemically is the amount being used to protect it.
This isn't true. If I charge $100 per transaction that doesn't mean that $100 of that goes towards protecting it.
>So let’s do programs that cannot be updated that handle mone
This isn't true. Smart contacts get updated all of the time.
>There’s no mechanism to fix problems if they occur. There’s no undo button. In fact, there’s often no way to upgrade at all.
This is just plain wrong. You can even make upgrades which are delayed that you can potentially cancel to prevent from being applied.