I tried to explain cryptocurrency to my uncle during the Christmas holiday and I gave him the wrong advice about gas fees. He followed my instructions and he moved a small amount of money and the network took half of it in a single transaction. He looked at the screen and he looked at me and the money was gone forever. I felt the heat in my face and I realized I had spoken with an authority I did not possess. I had made a mistake with a digital asset and there was no customer service desk to visit and there was no manager to call. The loss was absolute and the mistake belonged to me.
The Absolute Loss
In the digital realm, human error is often treated as a terminal event rather than a learning opportunity.
I work with wind turbines and I know the weight of physical things. I once ordered a pitch actuator for a GE turbine but the serial number was for a slightly older nacelle. I saw the part on the truck and I knew the mounting bolts would not line up. I called the supplier and they took the part back and they charged me a small fee for the shipping. The world stayed in its orbit and the turbine was fixed two days
