Quote from: foggyb on July 05, 2011, 05:48:51 PM

Quote from: 5grainsilver on July 05, 2011, 12:24:09 AM

Investors like security and the bitcoin is pretty much the opposite of secure. They also like secure exchanges and the bitcoin exchanges are pretty shady compared to mainstream exchanges. That is kind of an understatement really.

Bitcoin investing as secure as your worst security practices. Just like good ol' dollars. If you don't protect your credit and bank cards, someone will clean out your account.

You're only half right about shady exchanges. Turns out its not that difficult to avoid being a MTGOX clone. CAVirtex is a new Canadian exchange that is fully government compliant, professionally run (by actual businessmen) and not shady in the least. The trade volume pegs CAVIRTEX at #4 among all exchanges.

Sorry for being such a buzzkill.

You are way off.

My bank account is insured by the Us government if my bank fails.

My bank reimburses me for fraud.

Heck I even get rebates for using my card to buy things.

If someone rips me off I can charge it back.

Bitcoin offers zero protection. I keep some money in silver. At least someone has to come to my house to steal it. And I can still access it during a power outage.

Bitcoin is a cool idea but has far too many flaws to be anything more than a cool payment method.