3 ms·

Another reason why Bitcoin (or something like it) does have legitimate benefits...

• softbuilder 13y ago
  Is there no Bitcoin theft?
• maxerickson 13y ago
  Downside of CC breach: get new magic number, distribute to various service providers. Downside of single (exploited) mistake in bitcoin wallet management: total loss of value.
  • BlackDeath3 13y ago
    I agree with mpg33, this sounds like a situation that would never happen with Bitcoin. Yes, the damage potential is probably more severe, but (assuming I control my own wallet) how does one use stored information of a third-party against me to steal my BTC? This is very easy to do with leaked credit card data. Furthermore, if your wallet is well-encrypted, you cannot forget about it in an ATM and leave it behind for Joe Jackass to use to rip you off.
  • mpg33 13y ago
    > Downside of single (exploited) mistake in bitcoin wallet management: total loss of value. ...is a lot less damage than 40 million exposed credit cards
    • maxerickson 13y ago
      I thought it was clear enough that my comment was written from the perspective of an individual. Getting my credit card details stolen is going to be less damaging than all but the smallest wallet thefts.
      • mpg33 13y ago
        > perspective of an individual Ignoring the absurd interest rates, fees, insurance that cc companies charge...you assume that credit card/debit card theft costs are never passed on to the consumers