Quote from: Za1n on August 08, 2015, 09:27:44 PM

Quote from: bitbaby on August 08, 2015, 07:37:13 AM

Quote from: Za1n on August 08, 2015, 01:58:31 AM

Quote from: ransomer on August 08, 2015, 01:00:29 AM

This is still th biggest hinderance to bitcoin getting mass recognition.

It is far to unsafe to store any real wealth in for the average person.

Exactly, and the all the useless posts that usually accompany such sad events saying the victim should have done this or that, or used this other wallet, or they were foolish for using said wallet, or site, will not change this basic fact. Until a secure wallet can be developed that doesn't take a month of hard core research to figure out all the ins and outs before using, the average Joe will stay away.

Downloading Electrum and installing it doesn't require any hard core research and making offline cold storage wallets with it or with downloaded bitaddress doesn't take any hard core research either, if you're too careless with your money and use online tools to generate addresses or store funds in online wallets than sooner or later you'll get robbed, it's same like keeping your fiat with unknown strangers and expecting that they don't steal it.

Any average Joe who's familiar with Computers and Internet can easily maintain Cold storage wallets for bigger funds and a Hot wallet for day to day expenses, it's not the problem of bitcoin, it's just that people take things too lightly.

I think you unintentionally made my point. For one, your caveat "average Joe who's familiar with Computers and Internet" is not an average Joe. Sure a lot of people can probably logon, check their email, Facebook, etc., but I would not consider them computer savvy. They have a hard time adding a printer or setting up a backup to an automated external drive. Why do you think the plug and play or zero touch configuration market is so huge, most people just want to download an app or program, plug in a device, or use a website and be done.

How are they to know Brainwallet is any less secure than Electrum without putting some time and effort into it? In most cases it would be more than simply visiting a few websites as their technical competence is not as high as almost anyone posting here and they would have a hard time understanding what makes one more secure over the other.

The average Joe I referenced puts his fiat in the bank, if bank gets robbed or if his CC gets compromised, he is still ok with minimal (maybe $50) or no liability. This same Joe maybe hears about Bitcoin, does a bit of research and all he sees is hacked wallets, hacked exchanges, scams, Mt Gox was a scam, etc. on and on. This is what is keeping Bitcoin from exploding. You are not getting 10's of millions of users until much more progress is made in this avenue. it is not simply making something more secure, it is making it more secure and something your grandma, barber, bartender, car mechanic, waitress, little league coach, and so on can use. I think hardware wallets are a step in the right direction but much more needs to be done on all fronts.

Amen