Sorry, but all this talk about cold wallets and seed phrases and private keys makes me want to repost two snippets I've already put in this thread, so I apologize for the duplication but I think it bears repeating. Particularly since so many sites/comments I've read online hand-wave the issue away with constant statements like "gotta have personal responsibility" and "secure your keys, everyone knows that."
Schneier:
That has nothing to do with the cryptography or the protocols. In fact, a system where you can lose your life savings if you forget your key or download a piece of malware is not particularly trustworthy. No amount of explaining how SHA-256 works to prevent double-spending will fix that.
Tante:
With a blockchain based system all these protections go away because there is no “undo”. If you have your life’s savings in Bitcoin and someone gains access to your key, those coins are gone and you are s*%t out of luck. Given how easy it is to accidentally click on a wrong button, have people clicking on a phishing mail or just have people get their computer infected with a virus that risk is completely indefensible. If one virus can wipe out all your assets with no way to correct that mistake, that’s not a world we should ever want. We need more protections for people, not fewer.
I'll add on to the "forget" or "stolen" scenarios - someone passes away without revealing to next-of-kin what/where the keys are.
A system without "undos" that relies on perfect guardianship of private cryptographic keys throughout ones lifetime (and beyond), as well as bug-free code of numerous systems along the way, is not one I'm super optimistic about.
A text without a context is a pretext.