Then why do I hear about exchanges being hacked and people losing money almost every day? It's not very secure if it can be stolen and sent off somewhere without any form of recall.
A few exchanges get hacked and all of a sudden the Bitcoin protocol is insecure? LOL
I don't care if the private/public key encryption can be hacked or not, it's a moot point. It's like a wealthy baron storing all his gems and cash in an ultra secure safe, made of steel and armed with laser beams and guard dogs and under 24 hour surveillance. You would think it's completely safe, and nobody can get their hands on it, right?
But once a day, he likes to open the safe and take everything out to count it. And sometimes while he does that, he needs to take a leak and leaves it unguarded while he does his business.
Under those circumstances, you can't really say it's secure anymore. That's bitcoin! At least with cash, it generally needs to be stolen in person by force. With bitcoin, there's so many ways to steal it. And once it's gone, it's gone!
What you guys don't understand is, in order for bitcoin to go mainstream, it needs to improve the current financial system. Nobody wants something that's harder to use and less secure!
Sorry for quoting him but his foolishness needed refuting.
