>> If the answer is "they just don't get access anymore" or "a panel of their peers attests to them", your fantasy authentication system also needs a fantasy species of sentient beings to serve as users, because it won't work for humans.

>This has been my single biggest argument against fiat currency stuff for years: the "lose your money, lose your money" thing is fundamentally incompatible with real users. Humans need to be able to recover from their mistakes.

And yet, for the very longest time, it was the default position for humans.