Quote from: DooMAD on Today at 02:01:53 PM

It does when people use it correctly and don't hand control of their funds over to third parties. But since lots of people leave their BTC in the custody of exchanges and webwallets, they can (and often do) have their funds frozen or stolen.

Much in the same way that speculation is one of the driving forces behind Bitcoin not being used as a currency, peoples' preferred method of speculation, where they gamble on exchanges, introduces weaknesses and vulnerabilities to an otherwise robust system.

The idea was to eliminate middlemen to increase security, but speculators seem to have it backwards and deliberately introduce middlemen to eliminate security. Roll Eyes

I was just pointing out that the public ledger is a constant security risk. People who are serious about privacy use Monera or some equivalent.

There's a security risk with storing your own keys as well, and I suspect most people see that as a bigger risk than using a company they trust. As I keep saying here, most people would be terrified to physically hold their life savings in their hands, where they can lose it or it can be stolen. (I'm not talking about some smaller amount of money you could lose and it not ruin your life, I'm talking about one's major holdings for the future).

Ask any serious security expert and they will tell you that security is not just some code, there's a lot to it, and many factors besides technology go in to making a more security system (and just a warning, if you use terms like "perfectly secure" around a security expert you might get something thrown at you

).

And I always have to laugh when I hear people say, "it uses blockchain so it can't be hacked".