I don't know how you got that from the points I've made. I'm also noticing the past two replies to my original comment don't attempt to address, debate, or refute any of the points I've made.
I understand what you're saying but the result is the same and it's little consolation to the people who lose their money.
If you get mugged and someone steals your wallet (FTX, crypto wallet, or physical wallet) = money gone.
If you lose your wallet (physical or crypto) = money gone.
If you get handed a counterfeit bill (physical hack) and it's detected and confiscated later = money gone (best analogy I could come up with for a DeFi hack).
In any of these cases if those funds were needed to buy groceries for your kids or pay your rent the end result is the same. Whatever philosophical point you and the last commenter are trying to make means absolutely nothing to the very real people in the very real world who are significantly impacted by these events. People work for their money and the blase attitude and callousness shown towards victims in this space is very disturbing. We wouldn't remotely be having this discussion if someone gets robbed at gunpoint (victim of a crime) vs FTX (victim of a crime), DeFi hack (victim of a crime), wallet hack (victim of a crime), etc.
In the real world outside of crypto these events are exceedingly rare. I've been mugged once and I'm an outlier. I report credit card fraud and it just goes away. I've never had a bank fail. I've never lost access to a bank, trading, etc account. I've never had a negative experience with a wire transfer. I could go on and on while meanwhile all of these things and worse are a daily occurrence for an outsized portion of people involved in crypto.
The FTX failure alone is estimated to have impacted 1 million people. Celsius has 100,000 creditors. Who knows with DeFi, crypto wallets, etc but as I said originally I personally know an order of magnitude more people who have encountered these issues than the equivalents in the traditional financial system (real world).
I understand what you're saying but the result is the same and it's little consolation to the people who lose their money.
If you get mugged and someone steals your wallet (FTX, crypto wallet, or physical wallet) = money gone.
If you lose your wallet (physical or crypto) = money gone.
If you get handed a counterfeit bill (physical hack) and it's detected and confiscated later = money gone (best analogy I could come up with for a DeFi hack).
In any of these cases if those funds were needed to buy groceries for your kids or pay your rent the end result is the same. Whatever philosophical point you and the last commenter are trying to make means absolutely nothing to the very real people in the very real world who are significantly impacted by these events. People work for their money and the blase attitude and callousness shown towards victims in this space is very disturbing. We wouldn't remotely be having this discussion if someone gets robbed at gunpoint (victim of a crime) vs FTX (victim of a crime), DeFi hack (victim of a crime), wallet hack (victim of a crime), etc.
In the real world outside of crypto these events are exceedingly rare. I've been mugged once and I'm an outlier. I report credit card fraud and it just goes away. I've never had a bank fail. I've never lost access to a bank, trading, etc account. I've never had a negative experience with a wire transfer. I could go on and on while meanwhile all of these things and worse are a daily occurrence for an outsized portion of people involved in crypto.
The FTX failure alone is estimated to have impacted 1 million people. Celsius has 100,000 creditors. Who knows with DeFi, crypto wallets, etc but as I said originally I personally know an order of magnitude more people who have encountered these issues than the equivalents in the traditional financial system (real world).