Post
Topic
Board Bitcoin Discussion
Re: Our response to Dmytri Kleiner's misunderstanding of money
by
MoonShadow
on 14/11/2012, 13:34:05 UTC
That may be so but if someone hacked my comptuer and emptied my bank account I would get reimbursed 100% by the banks and they would even investigate on their own terms.. With bitcoins will get back 100% of nothing. It just gone to some unknown hash address. I understand your passion towares bitcoins since you run a very profitable bitcoin gambling site but realistically there are far to many negatives for bitcoin to become anything more than a novelty item.

Someone really needs to invent cold wallets, paper wallets, brain wallets, the idea of making multiple copies of a file, strong encryption, online security best practices, diversification (spreading large balances across multiple addresses stored in different locations / formats), multi-sig addresses, and the concept of insurance agreements.  Until at least a few of those advances are made, I think the hacking / accidental loss problem is probably insurmountable.   Smiley

And two-factor authentication.