Like the thread title says.
I bet alot of people are still strugling with if they should invest in bitcoins or not.
I am not really talking about $10 or $100 but really invest $1000 or more in this whole thing. (this may be in the form of a mining rig or just pure USD/EURO money)
What is your main reason you do not invest in BTC with huge amounts of money?
(The fact that you cannot afford it not included ofcourse)
My top 3 is:
#1 I still do not understand the system good enough. I cannot answer each question about Bitcoin with a legit answer. Wich makes me doubt about it.
#2 I do not know if everything that is being said about bitcoin is true. And I cannot research myself since all information out here that i can base logic on can always be false. You never know.
#3 Like the stock market, this whole thing can collapse in a matter of days cause of some major development within the system.
I'm not going to invest anything substantial in this simply because the exchanges aren't secure. They don't do enough to mitigate the risk against any sort of attack. I very much doubt they have any sort of security policies or adequate security practices in place. In short I will only invest what I can afford to lose if the exchanges are compromised. The MT. GOX affair should have alarm bells ringing because it was a computer of "an auditor" that got compromised which still had access to the database. That just leaves a lot of questions unanswered such as:
Why was the account on the database not removed or disabled and why was it active ?
Is this auditor from an actual security firm or an employee?
What sort of attack was carried out on his machine?
What other systems did this person have access to which could potentially be compromised?
How is my personal data secured?
Who has access to my personal data?
Do they have a security policy in place?
Are they audited by third parties if so who?
Until there are a set of data security guide lines in place for the exchanges to adhere to and the exchanges are audited by independent security firms, I class them as a "Mickey Mouse" operations and everyone should be careful with what they do with their BTC's and their Fiat currencies and their personal data - unless you deem the risk vs reward worth it.