3 ms·
This is such stupid advice. I don't run my own mail servers. Nor do I run my own DNS, generate my own power of, gasp, keep my money stashed in a jar in my bac
by blhack 13y ago
This is such stupid advice.
I don't run my own mail servers. Nor do I run my own DNS, generate my own power of, gasp, keep my money stashed in a jar in my back yard.
And neither should you.
Pay somebody else to do the awesome things that coinbase is doing to keep your coins safe.
--
(This advice is void for people holding HUGE sums of coins. For people holding <10 coins or so, I don't see a problem using coinbase. At all.)
- Jare 13y agoIf my bank had the sort of insurances, regulations and oversight over its operations that Bitcoin companies have over theirs (i.e. barely any), I assure you I would only trust them with about as much money I trust to my own physical wallet (i.e. barely any).
- gphilip 13y ago> This is such stupid advice. Is it, even after MtGox? As far as I know (IANAL) there is no law or precedent which takes the value of stolen bitcoins into consideration while sentencing. There is also no history (AFAIK) of prosecution, of serious prosecution which takes the effort to follow up on stolen coins may have been "mixed" etc., in cases of BTC theft. Given this, does not an online service (like Coinbase) which holds a large amount of bitcoin in "stealable" form present, to potential criminals, a lot of incentive to break in and take it all away? I, for one, wouldn't keep up to 5000 USD in such a place, at least till the time there has been some serious prosecution and proportionate sentencing of BTC thieves. But of course to each their own.
- enscr 13y agoYou do realize that losing a wallet is not the same as losing an email. A backup copy of the former is useless if it's stolen however that's not always the case with latter. Awesome things like what MtGox did?