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Not surprising. Back when there was only one bitcoin app in the Android Market, I toyed with the idea of publishing some smallish app that interacted with peopl

Not surprising. Back when there was only one bitcoin app in the Android Market, I toyed with the idea of publishing some smallish app that interacted with people's BitCoins or would provide remote access. How hard would it be to get a pre-paid credit card, publish the app to the app store and have it simply email account credentials to some random throw away email address or just skim a tiny amount of BTC in the background? It's funny, with BitCoin's design and the current user-driven banking solutions, people are realizing how much control banks have due to the implicit trust. I don't understand why people continue to naively trust these online wallets or even exchanges who will hold your BTC for you... they continue to display poor security habits and haven't done much of anything to truly earn users' trust. (Note, these are general comments. I've never heard of this site before and I have no idea why the site is not currently accessible. For all I know, their power went out and they're totally legit)

Steko 15y ago
"For all I know ... they're totally legit" Just don't confuse them with: http://www.totallylegitbitcoins.com http://www.totallylegitbitcoins.com Those guys are rock solid.
gamble 15y ago
> I don't understand why people continue to naively trust these online wallets or even exchanges A huge proportion of Bitcoin enthusiasts are speculators. It's hard to speculate without using an exchange. Bitcoin is an interesting system in isolation, but in practice users want the convenience of services that undermine the original goals of Bitcoin as decentralized currency. Honestly, every time a story about Bitcoin comes up, I'm reminded of EVE Online. It seems to be a community entirely made up of speculators and those trying to scam them.
- deleted 15y ago
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- drivebyacct2 15y ago
  Yeah, but there's no need to leave your money with the exchange once you've changed currencies. The problem with MtGox was that someone was effectively using it as their wallet... probably for convenience, but frankly, it's not that hard to add/remove BTC from your exchange account so as to not take extra risk and leave it available for a hacker or snooper to take.

Steko 15y ago

"For all I know ... they're totally legit" Just don't confuse them with: http://www.totallylegitbitcoins.com http://www.totallylegitbitcoins.com Those guys are rock solid.

gamble 15y ago

> I don't understand why people continue to naively trust these online wallets or even exchanges A huge proportion of Bitcoin enthusiasts are speculators. It's hard to speculate without using an exchange. Bitcoin is an interesting system in isolation, but in practice users want the convenience of services that undermine the original goals of Bitcoin as decentralized currency. Honestly, every time a story about Bitcoin comes up, I'm reminded of EVE Online. It seems to be a community entirely made up of speculators and those trying to scam them.

deleted 15y ago
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drivebyacct2 15y ago
Yeah, but there's no need to leave your money with the exchange once you've changed currencies. The problem with MtGox was that someone was effectively using it as their wallet... probably for convenience, but frankly, it's not that hard to add/remove BTC from your exchange account so as to not take extra risk and leave it available for a hacker or snooper to take.