Managed Wallet Websites = worst idea ever

[niemivh]

Anyone storing their money on a website managed by someone else?

Seems like the heist of the century would be opening one of these websites and then waiting to get ahold of a few 1000s of wallets and then just disconnect the site and take all of them.  Seems better than a bank robbery, more like stealing a whole bank!

Is their some sort of protection from this happening?

[1715142593]

1715142593

[Timo Y]

I think they are a great tool for small expenses while you are on the move.

Don't keep 1000 BTC on them, obviously.

Yes, they could run off with my money, but the chance of losing my physical wallet to a mugger is bigger I think.

Best to choose a web wallet run by someone who has a reputation to lose, preferably someone who is also running other businesses that accept bitcoin.

[Sean]

Or use one that's an actually licensed Financial Service Provider (or equivalent) registered with their government offices.
That way they are accountable and people *could* go after them.

[underjeep]

gmail and winrar with passwords are simple and more sufficient than anything else

[westkybitcoins]

The convenience of being able to walk around with a few bitcoins and send/receive on the go is worth the risk.

[rebuilder]

Personally, I run a small Linux box at home and just remote into that if I need to spend BTC when I'm not home.