Quote from: cdog on October 02, 2014, 04:12:35 PM

Quote from: zxcv731 on October 02, 2014, 04:25:07 AM

I am not a fan of coinbase but I think it is a trust worthy site. I have my wallet on coinbse.

If you dont have your coins in a local wallet that you and only you control, you actually dont own any Bitcoin.

Ok I get it. There is nothing like an off line paper wallet for security, but the hassle for the non familiar is a major detriment to using Bitcoin. That is why I believe Circle and Coinbase have started the insurance of their accounts to make Bitcoin more usable. And If people were losing their bitcoins from their coinbase or circle accounts it would be made known far and wide, and Mt Gox is already the example to avoid for these companies.

I know the paper wallet is the ultimate, but I am more likely to lose my bitcoins by losing the key or a hard drive crash or screwing up the process to create the paper wallet. It looks complicated to the uninitiated.

There will have to be trust in these institutions in order for the average idiot like me to have trust in Bitcoin.