Storing a decentralized currency on a centralized database (exchange, eWallet, whatever). How ironic.
Is storing "decentralized currency in a centralized database
on yr home computer" somehow different though?
You do have an underlying great idea there, one I would really like to see expanded on and in development.
A method of decentralizing a wallet could be perfect. AFAIK that doesn't exist yet, I don't follow much of the development however. (I'm not a developer so it's not really my place to try pushing ideas too them until I can come up with something they don't know they need. One day I would like to be a part of it somehow even if it's just usability. I'm great with usability.)
Certainly good practice, not keeping all of your eggs in one basket.
Something I should add to the rant if I edit it, thanks for that.
Yes, it's quite different. No one else is storing their wallet on my computer, just me. If my computer is compromised, then my security is compromised. No one else. It's decentralized. MtGox is compromised and thousands of users and their personal information is compromised. It has already happened.
I don't want to pick apart your argument on semantics, but the basic idea I am trying to convey is safety in numbers.
Indications do point to Mt Gox having been infiltrated days before the sell off, however once they were able to realize what happened, that the threat was indeed real. They did immediately issue a statement that they were in fact compromised. We really were lucky to get that upfront approach so quickly. Most of us did have strong passwords, so that list wouldn't have been completed until months later of 24/7 FPGA cracking, and yes I do agree with you it was fucked up. First time anything like that had ever happened to me, to my knowledge at least.
However, the affect of which raised the entire baseline to the utmost importance of user-base integrity.
That's why I do feel we can begin trusting again. Not an absolute trust, but a healthy & justifiable trust.
Sounds like you have a well thought out approach, the people I'm trying to reach with this thread is those that really feel an unhealthy anxiety about bitcoin in general. I'm telling them that they really don't have to feel that way.
