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> Bitcoin isn't susceptible to hacking - individual bitcoin businesses are susceptible to hacking While I am a big fan of Bitcoin, this is a valid criticism.
by andrewla 13y ago
> Bitcoin isn't susceptible to hacking - individual bitcoin businesses are susceptible to hacking
While I am a big fan of Bitcoin, this is a valid criticism. The degree to which hackers can steal money right now is very limited, because of the ability to unwind transactions, and the very long clearing time associated with larger transactions.
Two prime benefits of Bitcoin are the short clearing time and the inability to unwind transactions. The dark side of this is that hacking machines storing keys for Bitcoin addresses is the same thing as stealing the money held there; there's no need to have a bunch of bank accounts in shady countries lined up to try to move the money fast enough that you can step out into the tropical sun with a briefcase full of cash before the money gets clawed back.