Topic: Julian Assange Show: Cypherpunks Discuss Bitcoin - page 2. (Read 3410 times)
bitcoins don't get lost, they just become inaccessible (which can be the same for all practical purposes). However, inaccessible bitcoins are like gold treasures on the bottom of the sea. Sometime in the future the incentives to find "lost accounts" will be big enough for people to develop "bitcoin treasure hunting" solutions. The cool thing about lost accounts is that it's kind of a static problem because the funds don't move anymore
What about android phones? I've been suggesting that n00bs use BitcoinSpinner, because IMHO it's the best combination of ease of use and security.
I don't know bitspinner, but I would be very careful on that platform, especially if the keys aren't stored in an encrypted format.
What about android phones? I've been suggesting that n00bs use BitcoinSpinner, because IMHO it's the best combination of ease of use and security.
Multisig is the best answer, but we still have yet to see a working system implemented across multiple devices. Hmmm... if only I wasn't already working on a few things and going back to school in a few weeks...
Until we have widely used, simple multisig I can't feel comfortable suggesting bitcoin to people who don't understand computer security.
Until we have widely used, simple multisig I can't feel comfortable suggesting bitcoin to people who don't understand computer security.
I have to agree with this. That is why in a recent poll I actually voted that multisig should be a bigger priority than working on the scaling issues. Both are very important though.
Multisig is the best answer, but we still have yet to see a working system implemented across multiple devices. Hmmm... if only I wasn't already working on a few things and going back to school in a few weeks...
Until we have widely used, simple multisig I can't feel comfortable suggesting bitcoin to people who don't understand computer security.
Until we have widely used, simple multisig I can't feel comfortable suggesting bitcoin to people who don't understand computer security.
I'd like to add that what I'm talking about is from the perspective of an individual Bitcoin user, who is not in general a target of a serious hacker. On the other hand the services that hold a lot of bitcoins and are targets, should take extreme measures for security. I think more and more will though, the hacks have been a learning process that will improve Bitcoin security in the long run.
I have used Bitcoin for quite a while now and I've had a lot of different wallets of different types and I have lost exactly 0 satoshis during the entire time. I may be an exception or "lucky" but I don't think bitcoins are easy to lose. They are easy to lose if you're careless but it is sort of idiotic beyond idiotic to not be careful with Internet money.
Internet money, which is used in the realm of hackers and viruses, is something one should be a bit careful with. There are improvements to be made though, one of them would be easy to use implementations of multisig so that wallets could be easily set up that require signatures from multiple devices to send bitcoins.
Internet money, which is used in the realm of hackers and viruses, is something one should be a bit careful with. There are improvements to be made though, one of them would be easy to use implementations of multisig so that wallets could be easily set up that require signatures from multiple devices to send bitcoins.
People losing bitcoins will simply be good for everyone else. The value of all other bitcoins go up. This is not a flaw of any sort because bitcoins are very divisible.
So raw eggs would be a perfect currency or at least there would be no problem with them breaking all the time as it makes the raw eggs of others just even more valuable.
Oh come on. Being easy to loose in fact is a problem of bitcoin right now. Reminds me I should refresh my wallet backup
Good money has more than one property. Being divisible is one. Durable would be another.
A wallet is so easy to back up, and you can make as many backups as you wish, that I'm going to call bullshit on "easy to lose" being a problem.
Backups do you no good if you're hacked. Seeing as how most of the population is still stuck on the monoculture of Microsoft's software, this is a serious concern.
Until we have diversity in software, security for the masses will be impossible.
People losing bitcoins will simply be good for everyone else. The value of all other bitcoins go up. This is not a flaw of any sort because bitcoins are very divisible.
So raw eggs would be a perfect currency or at least there would be no problem with them breaking all the time as it makes the raw eggs of others just even more valuable.
Oh come on. Being easy to loose in fact is a problem of bitcoin right now. Reminds me I should refresh my wallet backup
Funny quote:
"Money can disappear from Bitcoin. It cannot work in the long run."
"Money can disappear from Bitcoin. It cannot work in the long run."
Bitcoin is infinitely divisible.
Lost Bitcoins only harms the individual who lost it, while actually improving the position of everyone else holding Bitcoins.
I would have to go ahead and completely disagree with that quote.
He is right. In the long run, the universe will run out of hydrogen. This means Bitcoin is doomed!
People losing bitcoins will simply be good for everyone else. The value of all other bitcoins go up. This is not a flaw of any sort because bitcoins are very divisible.
It is a problem if the security of Bitcoin clients suck but I think the security is decent and it's getting better all the time. Mostly it's up to how one secures ones bitcoins. Cold storage for savings... simple rule.
It is a problem if the security of Bitcoin clients suck but I think the security is decent and it's getting better all the time. Mostly it's up to how one secures ones bitcoins. Cold storage for savings... simple rule.
Yes, but you can always add more decimal places.
Funny that bitcoin has a major flaw in this regard?
Because the first sentance is absolutely true, people will lose wallets / hard drives, send to accidental addresses that do not exist etc. Thus money dissapearing forever.
Because the first sentance is absolutely true, people will lose wallets / hard drives, send to accidental addresses that do not exist etc. Thus money dissapearing forever.
You can burn real money also :-)
Funny that bitcoin has a major flaw in this regard?
Because the first sentance is absolutely true, people will lose wallets / hard drives, send to accidental addresses that do not exist etc. Thus money dissapearing forever.
Because the first sentance is absolutely true, people will lose wallets / hard drives, send to accidental addresses that do not exist etc. Thus money dissapearing forever.
Funny quote:
"Money can disappear from Bitcoin. It cannot work in the long run."
"Money can disappear from Bitcoin. It cannot work in the long run."
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