# @33b345: crypto holders are walking honeypots, real builders avoid conferences

Source: https://x.com/33b345/status/1987671391177740522?s=20

## Summary

Anonymous poster @33b345 argues that crypto holders who carry large amounts of value are walking honeypots, since crypto offers a much lower threshold for being targeted than a bank account does. The post says even strong wallet security does not mitigate physical "hammer-to-the-head" risk. It also argues that real crypto participants avoid conferences and side events, which they use mainly as an excuse to meet in the same city, and that most meaningful interaction happens outside them. According to the post, events mostly attract career farmers and self-marketers, which pushes out the genuine participants.

## Article

in the real world, walking around with $10k in cash in your pocket makes u a walking honeypot. having $50k in cash under your bed. it’s a rough analogy, but crypto is the digital equivalent. it’s not like having money in bank; there is a much lower threshold for it to be a target

even if you have the best wallet security on earth it doesn’t mitigate the hammer-to-the-head risk

this is part of why most of the real crypto ppl aren’t really going to the conference or side events, we just use them as an excuse to be in the same city together. almost all of the real stuff happens tertiary, and anything marketing itself as a change to that is (at best) a less bad event that’s still in the same bracket. no crypto event has ever met the conditions of who we are to each other, who we are to the world, and why we’re there. the whole industry advertises that thousands of us will be in a city, and here’s the places we’re trying to get everyone to come to

a lot of career farmers and self-marketers who don’t understand the industry they’re in (often the ones working for the companies throwing events) will take pictures of everyone there in order to justify their own role

so events mostly play out as adverse selection towards career farmers. a large network of real participants will be in the city, but mostly meeting each other and adapting away from the adverse selection