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Bitcoin doesn't eliminate security risks, it pushes the costs onto consumers. It's inconceivable to me that regular users can be trusted to maintain and secure
by tpeng 13y ago
Bitcoin doesn't eliminate security risks, it pushes the costs onto consumers. It's inconceivable to me that regular users can be trusted to maintain and secure their own wallets, so the only solution is an online wallet. But those businesses will need to be paid for their service, and face security risks as well, which under the current system are ultimately transferred to users. For bitcoin to work, we need a system that guarantees that consumers will not bear losses from fraud or hacking.
- vvvv 13y ago1) the only solution is an online wallet 2) those businesses will need to be paid for their service, and face security risks as well 3) government will regulate 4) some businesses will start wallets/vaults, which will enable you to open a wallet free of charge in exchange for depositing your bitcoins 5) those businesses will use the deposited bitcoins for lending, investments and speculation hello brave new world...
- hibikir 13y agoSo, the short version is that for a digital currency to be popular and convenient, it has to not be like bitcoin at all