Quote from: smoothie on August 03, 2011, 09:12:11 PM

Quote from: quattro on August 03, 2011, 05:55:02 PM

Quote

This was the oldest, longest standing bitcoin eWallet site in existence. It had a strong record of stability. It had been around nearly since the beginning of bitcoin itself. People who trusted using an eWallet at all... trusted it. It had 10s of thousands of account holders. Some of the smartest, most reputable, long-standing bitcoin community leaders used it.

So, before you "trusted" your money to mybitcoin.com, recommended to personal friends that they trust "mybitcoin.com", and recommended mybitcoin.com to people online, you spent +/- $2000 to fly down and meet the people behind it ... right.

I think you need to look up the word trust.

The second day I got into bitcoin I knew it mybitcoin.com was bad news and pulled everything out of mybitcoin.com.

The damage you have done to bitcoin is immeasurable.

Yeah I expected more from Bruce from a security stand point. I do remember him emphasizing securing your passwords for multiple websites that are sensitive in nature that relate to bitcoin. Why he would leave an open door to be taken advantage of like this I cannot understand especially with an amount of bitcoin as 25k.

That's the equivalent of taking $250,000 of your own money and saying let me store it in someone else's bank account in which they have the authority to access the funds at will and I trust them.

No one in their right mind would ever let some unknown/faceless person you never met store your $250k in THEIR bank account. And on top of that the recommending of using the same process to others to store their bitcoins and countless worth in dollars is like 10 times worse.

The first thing I would have done is taken the 25k bitcoins and broken them up into 1k lots and stored them in separate wallets on separate jump drives that have duplicates store off site of where I am at locked up in a safe (not the bank of course).

Decentralization of the storage of your bitcoins is probably the best idea one can use to protect their investment.

Agreed