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I guess the bitcoin economy is ruthless on its entrepreneurs and users. Failure to backup, improper trust in individuals, improper understanding of the technol
by kiba 15y ago
I guess the bitcoin economy is ruthless on its entrepreneurs and users.
Failure to backup, improper trust in individuals, improper understanding of the technology, poor security practice, and bad decisions will wipe out early adopters' wealth continuously and relentlessly.
I doubt we will see much of the early adopters retaining their bitcoin wealth from these early days. Those who did are either incredibly lucky, or incredibly competent.
I am an early adopter of bitcoin and I hope to survive or avoid the many dangers and poor decisions that ensnared many of peers on the road to bitcoin richness.
- bcl 15y agoI think that's a bit over the top. It really isn't that hard to keep your coins in your own wallet and back it up. What this demonstrates to me is that people are too trusting. You really shouldn't trust any of these services until they become more transparent in who is backing them, what their infrastructure looks like, their disaster plans, etc.
- againwiththe 15y agoHe's referring to the relentless issues... Mt. Gox, now this. It will probably continue...
- Duff 15y agoIt isn't, but since the primary thing to do with Bitcoin is to speculate it, keeping it on your PC is problematic.