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Message
My faith in Bitcoin just went out the window
Posted on 3/7/13 at 4:36 pm
Posted on 3/7/13 at 4:36 pm
LINK
A Bitcoin transaction services company says that hackers broke into one of its brokerage accounts last week, nabbing more than $12,000 worth of the digital currency.
A Bitcoin transaction services company says that hackers broke into one of its brokerage accounts last week, nabbing more than $12,000 worth of the digital currency.
8
Posted on 3/7/13 at 4:39 pm to BayouNation
quote:
My faith in Bitcoin just went out the window
quote:
A Bitcoin transaction services company says that hackers broke into one of its brokerage accounts last week, nabbing more than $12,000 worth of the digital currency.
Why would that effect your faith in bitcoin? It should effect your faith in Bitinstant.
I don't think you fully understand what you are attempting to discuss.
Do you lose faith in the dollar when a bank gets robbed?
This post was edited on 3/7/13 at 4:40 pm
Posted on 3/7/13 at 4:40 pm to BayouNation
Uh-oh.....
I can honestly say my "faith in Bitcoin" is no less today than it was last week....
I can honestly say my "faith in Bitcoin" is no less today than it was last week....
Posted on 3/7/13 at 4:41 pm to WikiTiger
quote:
Why would that effect your faith in bitcoin? It should effect your faith in Bitinstant.
I don't think you fully understand what you are attempting to discuss.
Do you lose faith in the dollar when a bank gets robbed?
Yep, I don't so I'm going to stay away from Bitcoin.
I use a bank that is FDIC insured, is bitcoin insured?
Posted on 3/7/13 at 4:42 pm to BayouNation
Posted on 3/7/13 at 4:44 pm to BayouNation
quote:
I use a bank that is FDIC insured
and third party companies that transact in bitcoin can be insured by private insurers if they so choose.
quote:
is bitcoin insured?
bitcoin is a protocol
that's like asking if TCP is insured
Posted on 3/7/13 at 4:45 pm to WikiTiger
quote:
Why would that effect your faith in bitcoin?
It's 'affect,' Brainiac.
Posted on 3/7/13 at 4:48 pm to BayouNation
I still have faith in this:
Posted on 3/7/13 at 4:50 pm to WikiTiger
quote:
bitcoin is a protocol
Herp derp.....
Posted on 3/7/13 at 4:50 pm to Vols&Shaft83
quote:
I still have faith in this:
Unicorn Farts cannot be compromised... Just sayin
Posted on 3/7/13 at 4:54 pm to BayouNation
quote:
A Bitcoin transaction services company says that hackers broke into one of its brokerage accounts last week, nabbing more than $12,000 worth of the digital currency.
I know of another case where three guys had 50k+ hacked from their site
Posted on 3/7/13 at 4:56 pm to TheOcean
quote:That's okay because wiki says private insurance covered all of the losses....
I know of another case where three guys had 50k+ hacked from their site
Posted on 3/7/13 at 4:58 pm to BayouNation
Posted on 3/7/13 at 4:59 pm to LSURussian
So you purchase new currency just to have to insure it? How is this viable if you aren't wealthy?
Posted on 3/7/13 at 4:59 pm to LSURussian
quote:
That's okay because wiki says private insurance covered all of the losses....
And it's true because insurance companies spend the resources to create actuarial tables for the figment of some Asian dude's imagination
Posted on 3/7/13 at 5:13 pm to BayouNation
quote:
My faith in Bitcoin just went out the window
It's easy to get reimbursed. Here:
If train A leaves the station going 60 miles per hour and train B leaves one hour later going 85 miles per hour, how long will it take train B to catch up with train A?
Now you can Bitcoin the night away
Posted on 3/7/13 at 5:16 pm to TheOcean
quote:
So you purchase new currency just to have to insure it? How is this viable if you aren't wealthy?
Posted on 3/7/13 at 5:18 pm to WikiTiger
quote:
I use a bank that is FDIC insured
and third party companies that transact in bitcoin can be insured by private insurers if they so choose.
How many U.S. bank customers have lost any of their money over the last 50 years because their bank was robbed?
Posted on 3/7/13 at 5:24 pm to TheOcean
quote:
So you purchase new currency just to have to insure it? How is this viable if you aren't wealthy?
what?
I still don't understand how the article in the OP is an indictment of bitcoin. Can someone explain that?
I'm willing to answer your questions about the technical nature of the currency and political ramifications of it.
I also don't understand the fierce rejection of bitcoin by so many. What would it take for any of you bitcoin doubters to finally admit it's legit and worthwhile?
Also, do you not see that there is demand and thus value in a decentralized currency? If you don't think there is, why do you feel that way?
quote:
There is a principle which is a bar against all information, which cannot fail to keep a man in everlasting ignorance — that principle is contempt prior to investigation. --Herbert Spencer
Posted on 3/7/13 at 5:26 pm to WikiTiger
You said that insurance is a way to protect your bitcoins. How is that a viable system?
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