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I disagree 100% with your non-Bitcoin factual assertions because they are demonstrably false but I do not have the time to address them point-by-point. But I w
by rprasad 14y ago
I disagree 100% with your non-Bitcoin factual assertions because they are demonstrably false but I do not have the time to address them point-by-point.
But I will address this one major factual error: Legitimate banks don't get hacked because there are billions of dollars at stake for the banking institution, and their business literally depends on their ability to secure payments.
Banks are not in the business of securing payments; that is what payment processors like Mastercard and Visa do. Banks are in the business of investing money which has been deposited with them. As a result of (state and federal) legislation, banks are liable for making depositors whole in the event of theft, so they are motivated to invest significant sums in security.