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Old 06-16-2011, 03:30 PM   #1
LXer
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LXer: A risky currency? Alleged $500,000 Bitcoin heist raises questions


Published at LXer:

Bitcoin, the decentralized virtual currency whose value has skyrocketed in recent weeks, faced a key test Monday as a veteran user reported that Bitcoins worth hundreds of thousands of dollars had been stolen from his computer. ...

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Old 06-16-2011, 03:55 PM   #2
H_TeXMeX_H
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I have never heard of bitcoins before. However, after investigating it, it doesn't seem that appealing to me. It's still currency, and it is still has the same fallacies. What is its purpose anyway ?

As for this user, this sums it up:

Quote:
And then disaster struck. "I just woke up to see a very large chunk of my bitcoin balance gone," he wrote. "Needles [sic] to say I feel like I have lost faith in bitcoin." He speculated that a Windows security flaw may have allowed the culprit to gain access to his digital wallet. "I feel like killing myself now," he said.
emphasis added
 
Old 06-16-2011, 04:54 PM   #3
Hangdog42
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I'm not so sure I'd go as far as calling bitcoins a currency. It strikes me more as a Ponzi scheme aimed at nerds.
 
Old 06-17-2011, 04:52 AM   #4
16pide
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He says he's been mining Bitcoins for over a year, and had amassed a fortune of 25,000 BTC
What this tells me is:
- in a year's time he could be owning again half a million dollars in bitcoin.
- If he really thought it was worth half a million dollars, was it reasonable to leave it on a pc connected to the Internet?
- Bitcoin looks more like 2nd life or farmville money than a true currency
 
Old 06-17-2011, 05:09 AM   #5
H_TeXMeX_H
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Quote:
Originally Posted by Hangdog42 View Post
I'm not so sure I'd go as far as calling bitcoins a currency. It strikes me more as a Ponzi scheme aimed at nerds.
I agree, I think it may be a Ponzi scheme.
 
  


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