Topic: Curious - Bitcoin is still beta - why should I invest? - page 2. (Read 2426 times)

Hi, I've been reading up on Bitcoin and I think it's a fantastic concept, and would love to invest a bit of money in it, but isn't it still early beta?  Why are people putting money into an early beta version of the coin network?

I have watched btc increase in value from $0.01 to its current level, so it's proof that there's demand for P2P crypto-currency.  However, I typify your average institutional investor - I am having difficulty believing in the integrity of the code, and find the lack of security in the client disturbing (why doesn't the program require the user to encrypt critical files on first start?).  Could someone link me to independent third-party audits by professionals of the source code for the client and the network?


Also, in spite of the talk of 'secure' transactions, I find infinitely more security in holding dollars or stocks. It's easy to invest in dollars held at U.S. depositories because the Federal Government provides a guaranteed $100,000 safety net (I believe in the fed more than some mysterious guy who may or may not have plugged in a backdoor in the source), and if you hold securities at a U.S. brokerage protected by the SIPC you'll recover your stocks in the case of fraud.  Could someone explain to me, the boneheaded noob, what separates the security of Bitcoin from an institutional fraudster like Bernie Madoff?

I really believe in the P2P cryptographic future, but I just want to play devil's advocate and do my homework before sinking capital into it.