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How so? Security of my Bitcoins is my responsibility. Same as keeping my banking credentials safe.
by atemerev 10y ago
How so? Security of my Bitcoins is my responsibility. Same as keeping my banking credentials safe.
- ceejayoz 10y agoYou have to do everything right, 100% of the time. The bad guys only need a single lucky break. Even the exchanges, whose multi-million dollar businesses depend on it and who have full time devs working on it, managed to get compromised quite a bit. With the banking system, you generally have some recourse - they're legally responsible for refunding you in some cases, they're able to cancel or claw back transactions in some cases, etc. TL;DR: It's nice not to be totally fucked for a small mistake.
- atemerev 10y agoIf I lose my wallet with my 2FA bank access token _and_ my password together, will the bank be responsible? No. The problem with Bitcoin is that you are your own bank. Implementing personal bank-level security is hard. There is no tech support to call and no authority except your own.
- atemerev 10y agoAnd if you are not confident enough to set up your own security, you can store your money in external wallet, like Coinbase. They will be your bank. Just like IRL!