Quote from: Elwar on June 24, 2014, 07:55:27 AM

Welcome to bitcointalk!

Thanks... I lurk every now and then and threaten myself with buying an ASIC and then return to Litecoin. As we all know, the days for Luddites such as myself are numbered unless I switch to another crypto else or spring for the hardware. If going the way of hardware I see no downside to going with the 256 rather than scrypt.

Quote from: greyman on June 24, 2014, 08:10:26 AM

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You know to keep BTC in cold storage, copy your .dat files, use a clean boot of Linux or some other operating system, transfer your files on USB sticks... Do your honestly believe that the average person using a tablet is going to understand even a fraction of this?

No, I don't believe that, and to be honest, I don't even believe you yourself understand cold storage, given your brief description. But I don't think this will stop bitcoin adoption, most people will use online wallets, or something like a "bitcoin bank", where their bitcoins will be safe or legally insured. Maintaining money in local file is just an experimental software, mostly.

Sorry... I have kept most of them on USB sticks and some with paper wallets while wiping the .dat files... I had always considered that to be cold storage (though I will head off to look it up a bit later...) If using a regular online wallet I think they are still threatened with hacking. If we go to a "bitcoin bank" I cannot see what the real advantage to bitcoin is. If it is insured they will charge a fee. If I want my bitcoins, they will charge a fee. If I convert my bitcoin to litecoin they will certainly charge a fee. If I want USD or CAD or Pesos... they will charge a larger fee. They may end up with a user agreement whereby they keep the BTC in a central account (and, being a bank, undoubtedly lend it out at interest.) Suddenly rather than having complete control of my crypto currency I leave it to a bank. Rather than having something that I know is not leveraged and lent out I have no control. This is similar to why I might prefer to hold physical gold (and, by extension, my own BTC) rather than buying paper gold supposedly held by my bank in my name where they charge me annually for security, storage, transportation, and in a number of cases have been shown to have sold "my" gold to other people and hold absolutely nothing for me despite the charges... I may as well just hold fiat with my bank and hope for the paltry interest to be paid as put bitcoin there. I seriously think this is another reason why universal adoption will never take place.

Again- I am actually a supporter (I know you would not think so by reading my ramblings.) However, I am a realist and have met those people who make tech support have to ask "is the computer plugged into a working outlet? I cannot imagine them holding a bitcoin wallet and if they have to use a "bitcoin bank" there is no advantage to them to convert. Why convert to buy a pizza or a used car when they can walk in and write a cheque. BTC would actually have to replace the local currency to make it necessary or useful to most average people. I really hope I am wrong... maybe it is just past my bedtime and I am cynical?