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AES maths isn't in question either but a viable sidechannel still makes a broken system that happens to use AES a bad system. I don't care if the Bitcoin protoc
by ketralnis 13y ago
AES maths isn't in question either but a viable sidechannel still makes a broken system that happens to use AES a bad system. I don't care if the Bitcoin protocol is in question, I care if all of my money is stolen.
Still, I'm not saying that Bitcoin sucks and I disclaimed that I don't care one way or the other about Bitcoin up-front specifically to preclude predictable knee-jerk defensive replies like this. My claim is that "Bitcoin will solve this problem!" in response to every article about money is bullshit because we have Bitcoin and it still has problems, like a massive theft problem.
It's a problem of bad implementations, whether cloned credit cards or stolen wallet files. And Bitcoin doesn't keep me from writing bad implementations. In fact it may make it worse: financial companies that move dollars have a high startup cost because of the regulatory work. Because it can no longer be two guys in a garage, it becomes more likely that the chain of people that they have to hire and speak to has at least one competent member. Clearly not guaranteed though, you'd think that the DMV would have the resources to become competent if they wanted to.
- stcredzero 13y agoI disclaimed that I don't care one way or the other about Bitcoin up-front specifically to preclude predictable knee-jerk defensive replies like this. Uh, yeah. I'm not a knee-jerk defender of Bitcoin, and my statement is not a defense of Bitcoin so much as a balanced evaluation of the weaknesses of all sorts of payment systems.