Quote:
Originally Posted by Hehe
BTC is a product based on a great idea for a perfect world similar to what communism was. Unfortunately, it just doesn't really work in real world.
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As much as I want bitcoin to work, stating that it "works" or "doesn't work" this early is just stupid.
Quote:
Originally Posted by MindBomber
It is not an extremely secure economy with one tiny vulnerability. It is an economy with serious inherent security issues, as evidenced by the repeated thefts of customers' currency by exchanges, which cannot meaningfully address them without undermining its founding principles. Increased transparency among exchanges does not constitute meaningfully addressing them. An exchange can be honest and transparent for years and that does not preclude the possibility that they could perform a theft.
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You keep bringing this up, but it only affects people who are buying and selling on the exchanges. If you don't trust the exchanges, or aren't interested in buying and selling, there is absolutely no reason why you need to consider using them.
With Bitcoin, you can do absolutely anything you want with it. If you want to "buy low and sell high" on an exchange to make a quick buck, go for it. If you don't trust ANY of the exchanges but still want to make a quick buck, use localbitcoins or see if someone here wants to buy.
If you want to actually hold or spend your bitcoins, you can completely ignore the exchanges and everyone else, and just control your own wallet. Nobody can take it from you - not a poorly run exchange, not the government which can put limits on bank withdrawals if they want, not anyone.