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Bitcoins

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    #11
    Originally posted by doodab View Post
    What sort of idiot entrusts cold hard cash to strangers on the internet with no guarantees though? Anyone with any sense would be keeping their wallet more secure.
    Send me £50 and I'll tell you
    Originally posted by MaryPoppins
    I hadn't really understood this 'pwned' expression until I read DirtyDog's post.

    Comment


      #12
      I'm annoyed that I didn't dabble in these when I first though "oh, that sounds interesting".

      It makes sense. An independent, anonymous store of value away from states and banks.

      Don't really understand the investment though and seem to have missed the boat now.

      Comment


        #13
        Originally posted by doodab View Post
        What sort of idiot entrusts cold hard cash to strangers on the internet with no guarantees though? Anyone with any sense would be keeping their wallet more secure.
        Main problem isn't getting 100% security but some redress AFTER it is breached - with bitcoin you can do fook all after it's stolen and that's why (one of the many reasons) it can't replace money.

        Should I have bought them when they were < $10? Maybe...

        Comment


          #14
          Originally posted by AtW View Post
          Main problem isn't getting 100% security but some redress AFTER it is breached - with bitcoin you can do fook all after it's stolen and that's why (one of the many reasons) it can't replace money.
          Exactly like cash then. **** all you can do if your physical wallet is stolen and someone takes the cash out of it.
          While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'

          Comment


            #15
            Originally posted by doodab View Post
            Exactly like cash then. **** all you can do if your physical wallet is stolen and someone takes the cash out of it.
            I wonder if there is an opportunity for an insured online bitcoin wallet.

            Comment


              #16
              Originally posted by doodab View Post
              Exactly like cash then. **** all you can do if your physical wallet is stolen and someone takes the cash out of it.
              Not at all - CCTV can catch guy who stole it and then he can be found and made pay for it - with bitcoins someone can hack into your system and take your money, you won't have ANY chance of getting it back.

              Plus, how much you keep in cash anyway? There is no way to secure bitcoins 100% and 0 recourse after they are stolen.

              Comment


                #17
                Originally posted by DieScum View Post
                I wonder if there is an opportunity for an insured online bitcoin wallet.
                And your insurance premium will be small in your view?

                Comment


                  #18
                  Originally posted by AtW View Post
                  Not at all - CCTV can catch guy who stole it and then he can be found and made pay for it - with bitcoins someone can hack into your system and take your money, you won't have ANY chance of getting it back.
                  You could keep your bitcoin wallet in your house on an encrypted USB drive, and you can both keep a back up of your bitcoin wallet and guarantee that a thief can't open it. You can make it as secure as you want, keep it in the safe if you like.
                  While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'

                  Comment


                    #19
                    Originally posted by doodab View Post
                    You could keep your bitcoin wallet in your house on an encrypted USB drive, and you can both keep a back up of your bitcoin wallet and guarantee that a thief can't open it. You can make it as secure as you want, keep it in the safe if you like.
                    The point is that once stolen you got ZERO recourse.

                    It's only good as transient credits that get turned quickly into real money.

                    Comment


                      #20
                      Originally posted by AtW View Post
                      The point is that once stolen you got ZERO recourse.
                      Really? You couldn't use the same CCTV to watch your USB drive as you use to watch your physical wallet?

                      What about if there is no CCTV? The backed up, encrypted, inaccessible bitcoin wallet is much more secure than physical cash then.
                      While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'

                      Comment

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