Yes. And only one of them needs to be compromised for you to lose funds (given that you didn't use multisig). Or if your computer was compromised at the time of generating your paper wallets. Or the printer. Or if you somehow downloaded a malicious copy of wallet generating software. And so on, and so on...

> And only one of them needs to be compromised for you to lose funds (given that you didn't use multisig)

Bank vaults are very rarely compromised. And as you said you can still use multisig.

> Or if your computer was compromised at the time of generating your paper wallets. Or the printer. Or if you somehow downloaded a malicious copy of wallet generating software.

If you factor malicious software into account, you're far more likely to have your credit card or bank account credentials stolen.

Cold storage surely isn't a panacea, but let's be honest in the criticism of BTC. With reasonable security standards your bitcoins are probably safer than your bank account money. (The only difference is that your BTC's probably aren't insured against theft)

My computer was compromised once, and I consider myself tech-savvy. I don't use Windows as well. Two of my collegueges lost BTC due to computer compromise as well. Now imagine what happens to people that know close to nothing about security.