Quote from: n2004al on January 15, 2016, 07:34:54 PM

Quote from: monsanto on January 15, 2016, 07:17:23 PM

Quote from: n2004al on January 15, 2016, 05:36:07 PM

Quote from: Fontas Returns on January 15, 2016, 07:55:53 AM

The bitcoin bandwagon brigade has always preached how secure crypto is but it seems like every exchange has gotten hacked. Is securing crypto a pipe dream? Is this what the BTC experiment has taught us?

There are to many other exchanges (more big, more important or less big and less important than Cryptsy) that are not hacked never. Why such importance to this exchange. Much more banks have been object of thieves and never is put in discussion their existence. Why be put in discussion the security of crypto exchanges as a Institution where is changed and traded another kind of currency but yet is money? Why must be different this case by the case of the stolen banks? Have seen various threads today which treat this matter and absolutely all treat this case with fatalism. One for bitcoin, another one for the exchanges another third for all the cryptos and so on. Why this point of view?

We don't really know if other exchanges have been hacked or not. Cryptsy was hacked a long time ago and nobody knew for sure until now. I've seen similar rumors about much bigger exchanges like OKcoin. As for banks, yeah they get robbed but usually not of everything. Are you really claiming that an equivalent percentage of fiat has been stolen from banks as has been stolen from crypto exchanges since 2009?

If we will use your kind of reasoning I must tell that since I have not heard about the steal of every bank that doesn't mean that is not stolen every of those. So if we don't have news about the steal of every then bank every bank may have been stolen. Or even if we haven't hear nothing about the steal of every home that doesn't mean that is not stolen every home. I can go further of such kind of examples but the above may give the full idea of what can happen if everyone use your way of reasoning. I'm sorry but I don't use such kind of use of my mind and my reasoning is totally different from yours.

Then as for the amount stolen from the banks I'm again sorry, but even without having your accurate data (seems that you are very informed about the amount stolen on all the banks around the world since the beginning of their existence as specifies the word "everything") I am sure that is much, much more higher than all the value of all the amount of all the cryptos in circulation until this moment and not only much, much bigger that the value of the stolen cryptos since 2009. This is an conviction created using the kind of reasoning made from you in the case of the possibility of hacked exchanges based on the hear or not hear about their hackering.

You might have a point if a large percentage of banks had been hacked and then gone out of business losing customer funds, but alas, this isn't so. Also, they usually don't continue to operate as fractional reserves (see mt gox and cryptsy which continued to accept deposits after being "hacked"). Sorry I know this doesn't fit into you're narrative so must be ignored.

Actually "everything" was referring to the crypto exchanges that have lost everything in the sense that they lost enough to put them out of business. I guess Gox and Cryptsy etc, wasn't as bad as I thought and you are right and they will be returning our money soon. Good luck with that. And if you read my post you will see I used the word "percentage," which you then conveniently ignored. Comparing total amount is kind of ridiculous when when bitcoin market cap is 1/5th the size of Tanzania's GDP. Using your logic every shitcoin ever invented is more secure than depositing your money in a bank. Again, good luck with that.