Post
Topic
Board Bitcoin Discussion
Re: To reassure people about the security of the BTC
by
Rarrikins
on 10/11/2013, 13:50:27 UTC
Lots of articles claim the BTC to be hacked and insecure but is the dollar insecure for similar reasons. Someone hacked mt.gox so bitcoin is insecure?? That means the dollars insecure, because robberies happen on exchanges around the world all the time.
The difference is that regular currency exchanges that actually hold others' money will have insurance so that that money isn't actually lost. Bitcoin exchanges get hacked and no one gets their money back.

If an online wallet is hacked it's your own fault for trusting the wallet, bitcoin is not insecure, the people you trusted your money with are.
Telling people that their fears are justified about the riskiness of using bitcoin is a way to reassure them that they're right.