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by silverpikezero
4042 days ago
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You forgot the most damaging one:
- security It is impossible on a practical basis to secure any significant amount of cryptocurrency. Even the most secure known methods of storage have been compromised [1], and computer security has reached a state which means everything is hackable. Every Bitcoin exchange I can think of has lost some significant amount of coins to hacks. I see no reasonable solution for this problem. [1] http://leaprate.com/2015/02/is-bitcoin-safe-yet-bter-exchang... EDIT: I have always liked your posts on bitcointalk.org |
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This is a problem for Bitcoin, but not a problem of Bitcoin.
The major fallout that I see from those hackings isn't so much that they occurred, but that unlike an attack on accounts held by, say, Bank of America or Citibank, there's no recourse once the funds have been siphoned out of the Bitcoin exchange -- they are just gone.
Is that the problem that you're describing when you talk about there being no "reasonable solution"?