Quote from: Rassah on March 02, 2012, 04:14:45 PM

Quote from: runeks on March 02, 2012, 03:14:10 PM

Quote from: Rassah on March 02, 2012, 04:07:51 AM

I just want to note that after MtGox got severely hacked, it became one of the most secure Bitcoin exchanges out there.

Exactly how have you made the assessment of the security of the Mt. Gox platform that allows you to make this claim?

Their word that they rewrote the code for it from scratch, closed down all access they could, and are now storing most coins in offline storage. Also them putting limits on all withdrawals, requiring some type of ID for anyone wishing to withdraw substantial funds, and being the first to use two factor authentication. Plus the part about them still being the top exchange by volume by far, and yet not being hacked since that last incident almost 9 months ago. Also, I wouldn't be surprised if a lot of the common sense ideas everyone uses now (cold storage, withdrawal limits, two factor option) were things people didn't care about until MtGox incident, and which they got from MtGox since then. I wouldn't be surprised if Bitcoinica came up with new security procedures that everyone else six months from now would look back on as a no-brainer, and at the very least this would emphasize the urgency of implementing multi-sig security, whereas without it people would have greeted the change with a "meh." In fact, I'd go as far as to say we were about due for another major security breach to get people to learn more about or invent better security measures. The more that happens during Bitcoin's development stage the better.

In reality we have one true measure regarding to security and its perception in the Bitcoin community: time passed since last big fuck-up.

It was just reset to zero yesterday. In the particular case of MtGox, we have it running at under a year still.