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It's just not that easy. People running these things completely lack the understanding of just how seriously security needs to be taken. Various sites handle mi

It's just not that easy. People running these things completely lack the understanding of just how seriously security needs to be taken. Various sites handle millions of dollars worth of bitcoin with "patch all flaws" style security. People need to understand that millions of dollars of easily disposed of goods are worth killing people for. It won't be long now until we'll hear the first case where some employee of a third-rate exchange or something will wake up with a barrel of a gun pointed at him, forcing him to go to work and turn over all the float at his company or have his family killed. It's been done in the USA, and for much less than what these exchanges and mining pools routinely manage. Banks have security against this sort of thing. They manage it by making actually keeping that money after obtaining it without getting caught really hard. I have no idea how it can be protected against when it's bitcoin.

nawitus 14y ago
>They manage it by making actually keeping that money after obtaining it without getting caught really hard. I have no idea how it can be protected against when it's bitcoin. Well, you can trace bitcoin more easily than you can trace other currencies.
bdcravens 14y ago
Banks have security against this sort of thing. They manage it by making actually keeping that money after obtaining it without getting caught really hard. I have no idea how it can be protected against when it's bitcoin. Fiat currency has government buy-in, and government support for loss prevention. Bitcoin not so much. The general anti-government attitude that goes with BTC means there's little incentive for law enforcement to care. (Yes, a server break-in is cybercrime, but so is someone hacking your Wordpress or Facebook accounts, and that's the level of attention it will be paid)
moheeb 14y ago
"People need to understand that millions of dollars of easily disposed of goods are worth killing people for." If this were my site you would be banned.
- Tuna-Fish 14y ago
  Care to explain why?

nawitus 14y ago

>They manage it by making actually keeping that money after obtaining it without getting caught really hard. I have no idea how it can be protected against when it's bitcoin. Well, you can trace bitcoin more easily than you can trace other currencies.

bdcravens 14y ago

Banks have security against this sort of thing. They manage it by making actually keeping that money after obtaining it without getting caught really hard. I have no idea how it can be protected against when it's bitcoin. Fiat currency has government buy-in, and government support for loss prevention. Bitcoin not so much. The general anti-government attitude that goes with BTC means there's little incentive for law enforcement to care. (Yes, a server break-in is cybercrime, but so is someone hacking your Wordpress or Facebook accounts, and that's the level of attention it will be paid)

moheeb 14y ago

"People need to understand that millions of dollars of easily disposed of goods are worth killing people for." If this were my site you would be banned.

Tuna-Fish 14y ago
Care to explain why?