What would be the most secure way to use bitcoin, or a way which is reasonably secure without becoming too inconvenient.
A bitcoin bank.
creighto, i pay attention to everything u write b/c your thoughts are sound. but how can u advocate a bitcoin bank it being a centralized big fat juicy target for the Feds? ppl don't store their gold at banks but instead at home in the safe therefore the Feds can't/won't do anything about that. but a bitcoin bank would be too irresistible for the banksters/gov't to raid.
Most people store their cash at banks, not at home.
It is simply a question of efficiency. You can trade the risk of a centralized target for being able to pool funds, building a fortress far stronger than each person could themselves build individually.
And by volume, I'd wager the same is true for gold. The more gold you have, more likely it is stored in a secured depository.
egold was a digital gold bank. they got taken down. why can't this happen to a bitcoin bank? and please clarify what u mean by a fortress?
He means that, like a bank vault is more cost effective security than 100+ home fire safes; a single bitcoin bank online secured by the skills of a cryptogeek and the latest and greatest hardened linux os is more cost effective security than those same users witheach running their own client that is continuously accessible to the Internet.
yes, but all the encryption security in the world won't stop the thugs from walking in the front door and taking the server away with a fork lift.
True, but you have to get to it first. It's probably easier to do that in your own home than it would be to a bitcoin bank server, as I have seen how secure datacenters that specialize in ecommerce are. Hacking from outside the network really is the weak link.
it depends on how determined a gov't wants to be
