If you don't have an actual security background with financial applications, don't code a fucking exchange.
To anyone who can sort of hack up some scripts and figure out the bitcoind api and decides to create an exchange, I have merely this to say:
Fuck you.
You are being childish. People are allowed to do what they like. The
users are responsible for where
they place
their money.
They could do it the way I did it, go to university, get a degree and then work in the industry for 20 years while keeping up to date, gaining certification's attending conferences, going on vendor & paid seminars.
There is no short cuts to becoming competent unfortunately.
Competence is relative and isn't achieved the same way. Conferences and seminars (like qualifications!) are cash cows, I'm glad that you feel you have benefitted from them, personally I believe that they form part of the academic "belief" system that one is not wise unless he has a piece of paper, club tie or other affiliation to say so.
Yep, there is only a handful of bitcoin companies that are making enough money to fund the development and on-going support/security research/so on. I don't know how much btc-e guys were making money, but I doubt that they made enough to pay for security professionals, audits etc.
This is the crux of the matter. Currently, users want a cheap, fast, easy to use, highly secure service. But such service levels require sufficient funding, which isn't available to many of the startups. As the BTC market grows, so will the opportunity for decent services. (That said, many of these
hacks have been down to gross incompetence/negligence and/or inside job corruption).
The infrastructure will mature at the rate that the market allows.
BB.
