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I think a large factor in adoption of BitCoin is the uncertainty of it's security. You have to be close to a hacker to truly understand how BitCoin works. Gener
by SonicSoul 15y ago
I think a large factor in adoption of BitCoin is the uncertainty of it's security. You have to be close to a hacker to truly understand how BitCoin works. General public has little to no chances at being able to gage how safe bit coins are to hold, and with no government to back up the investment, they will understandably be very hesitant to participate. Especially since it already got hacked.
- SkyMarshal 15y agoAlso, simply losing your wallet to bitrot, accidental overwrite, or whatever is a big problem for general public users.
- biaxident 15y agoThe image from the Wired article shows this pretty clearly: http://www.avc.com/.a/6a00d83451b2c969e2015393a8b4c3970b-pi http://www.avc.com/.a/6a00d83451b2c969e2015393a8b4c3970b-pi One of the biggest drops is after "Mt.Gox, the largest bitcoin exchange, admits its database was compromised and user information leaked." If you bank "lost" your money there would be outcry. Until people understand and trust these establishments it'll never take off.
- icebraining 15y ago"Bitcoin" didn't got hacked, but yeah, to a layman it probably looks that way.
- jl6 15y agoTo be fair, understanding regular currency isn't exactly trivial. Most people seem to get by without understanding the finer points of banking, quantitative easing, M1, M2, etc.. And one might consider the ability of governments to manipulate their currencies for political reasons to be a security flaw.