What about when the banking system mandates password rotation, or randomly closes the account because of suspected fraud, or it gets wiped out due to actual fraud, or it gets frozen because of a pending investigation, or gets drained dry without warning over a forgotten debt etc. Bank accounts are brittle and I have seen every one of these situations happen to myself, family, or friends.
Also not to mention leaving USD in a bank account long term rots it to inflation.
Meanwhile in crypto-assets the funds stay exactly where they are and are impossible to move until a private key is available.
Shamirs. hardware wallets in vaults, paper wallets... the point is you have choice and control. Any process documented well enough can be followed in the future. We still cook recipes generations old after all.
Ok. Those are completely different issues to the one we are discussing. We were talking about accessing credentials and funds when somebody dies. Swapping to talking about incorrect account closures or inflation is just changing the subject.
Yes, nobody can close your wallet (well sort of, big players like Coinbase or OpenSea can absolutely treat your wallet as poisoned and refuse to transact with you).
This is a frustrating component of the discussion about crypto. “It is better for survivors” shouldn’t be defended with “inflation is bad.”
Also not to mention leaving USD in a bank account long term rots it to inflation.
Meanwhile in crypto-assets the funds stay exactly where they are and are impossible to move until a private key is available.
Shamirs. hardware wallets in vaults, paper wallets... the point is you have choice and control. Any process documented well enough can be followed in the future. We still cook recipes generations old after all.