franky1 (OP)
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May 23, 2014, 09:14:04 PM |
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hackers love bitcoin and store their wealth and do transactions in bitcoin because they know, not even them can manipulate the code. yet the FIAT system can be hacked and have balances adjusted. which do you think is more secure. if you chose FIAT. read this: http://buzzblips.com/global-gang-of-hackers-steals-45-million-from-atms-in-12-hours/if you hold bitcoin on your PC and FIAT in your bank. which are you more worried about being manipulated, now you read the news article. |
I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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jonald_fyookball
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Core dev leaves me neg feedback #abuse #political
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May 23, 2014, 09:23:34 PM |
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Mostly agree, but let me play devils advocate.
Banks spend millions on security.....
Average user PC is vulnerable.
Your turn :-)
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Satan666
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The love of fiat is the root of all good
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May 23, 2014, 09:26:39 PM |
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hackers love bitcoin and store their wealth and do transactions in bitcoin because they know, not even them can manipulate the code. yet the FIAT system can be hacked and have balances adjusted. which do you think is more secure. if you chose FIAT. read this: http://buzzblips.com/global-gang-of-hackers-steals-45-million-from-atms-in-12-hours/if you hold bitcoin on your PC and FIAT in your bank. which are you more worried about being manipulated, now you read the news article. Fiat banks have insurance, so no customer funds were lost in that hack. Keep tryin'.  |
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beatljuice
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May 23, 2014, 09:44:57 PM |
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Yeah, my money is safer from the average thief in a bank.
My computer was hacked last week and I lost 0.77 BTC from my Coinbase account. Not a lot since I'm smart enough to keep the big bucks safer, but it still stung that I was that lazy about security. I should have known something wasn't right.
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Meuh6879
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May 23, 2014, 09:52:22 PM |
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Fiat banks have insurance, so no customer funds were lost in that hack. Keep tryin'.  bank generate money ... 60 milliard in 1 month precisly. Cheating monkey proof ! Bank always win ... like casino.  |
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jonald_fyookball
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Core dev leaves me neg feedback #abuse #political
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May 23, 2014, 10:07:14 PM |
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Please don't feed the trolls
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Satan666
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The love of fiat is the root of all good
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May 23, 2014, 10:09:05 PM |
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Fiat banks have insurance, so no customer funds were lost in that hack. Keep tryin'. bank generate money ... 60 milliard in 1 month precisly. Yes, bank generate money for benefit of humanity.  |
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franky1 (OP)
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May 23, 2014, 11:56:54 PM |
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Mostly agree, but let me play devils advocate.
Banks spend millions on security.....
Average user PC is vulnerable.
Your turn :-)
FIAT still got stolen from source ( bank database ) - cost, millions on security. no one can steal bitcoins directly from the bitcoin protocol ( blockchain ) - cost, nothing separate type of theft: pick pocketing does happen alot every day bitcoin scams and trojans happens alot every day but not to the extent of total world crimes of back pocket wallet theft and as for personal security. paper wallet.. costs just the price of ink and a few minutes work. no armd guards, auditors checking for loses, no managers, no bullet proof vests, no bullet proof money trucks, no timelocked vaults, no institutional oversight committees like fincen SEC. just one man, a piece of paper and a printer. |
I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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p2pbucks
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May 24, 2014, 12:03:23 AM |
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This is why FED bastards fear bitcoin so much ! In Bitcoin world They can't cheat |
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franky1 (OP)
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May 24, 2014, 12:16:47 AM |
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now i come to think of it.
the ATM theives done the world a favour.
banks now have to print more bank notes, which offsets the balance.. which technically means that the amount of bank notes and bank customer account balances is higher compared to the bond debt..
so in theory.. the theft has helped reduce the bond debt by increasing bank note circulation and bank balances without increasing any bond debt.
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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Kashim
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May 24, 2014, 12:18:33 AM |
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i just say WATCH_DOGS
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Nobitcoin
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In holiday we trust
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May 24, 2014, 06:22:21 AM |
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Eventually it will be hackable just like anything and until that day it mains relatively safe.
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jc01480
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May 24, 2014, 09:54:37 AM |
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My, we are bored today. Quick! Someone generate China FUD!
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Pobre
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HEy Hey HEY??
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May 24, 2014, 10:00:20 AM |
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Well suppose ive btc in my external haqd drive and i keep my fiat in the bank. now telling from my personal experience, ive never seen anything happening to the fiat i have but a month ago my little brother formatted the hard drive and i didnt have any backup for that wallet and so i lost all my coin. thats why i prefer fiat
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Hasher99
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May 24, 2014, 10:08:52 AM |
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Well suppose ive btc in my external haqd drive and i keep my fiat in the bank. now telling from my personal experience, ive never seen anything happening to the fiat i have but a month ago my little brother formatted the hard drive and i didn't have any backup for that wallet and so i lost all my coin. thats why i prefer fiat
Well that's just an accident, If you would still have your bitcoins you wouldn't let this happen just have your very own computer for bitcoins and other things that only you can access and things like this one wont happen, just need to be more safe! |
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Pobre
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HEy Hey HEY??
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May 24, 2014, 10:15:15 AM |
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Well suppose ive btc in my external haqd drive and i keep my fiat in the bank. now telling from my personal experience, ive never seen anything happening to the fiat i have but a month ago my little brother formatted the hard drive and i didn't have any backup for that wallet and so i lost all my coin. thats why i prefer fiat
Well that's just an accident, If you would still have your bitcoins you wouldn't let this happen just have your very own computer for bitcoins and other things that only you can access and things like this one wont happen, just need to be more safe! Well everything is based on accidents and bad incidents and fiat getting stole from atm was on accident too. i could say that the there should be more security around the atm. and we have all seen thousands of btc scams like the gox thing, inputs.io case, n my case |
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BitCoinDream
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The revolution will be digital
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May 24, 2014, 12:22:47 PM |
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Mostly agree, but let me play devils advocate.
Banks spend millions on security.....
Average user PC is vulnerable.
Your turn :-)
Average user uses that PC to access the bank accounts... so it remains vulnerable  |
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btcton
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May 24, 2014, 12:31:37 PM |
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I don't see how that would make the fiat "protocol" hackable. ATMs got hacked, not the fiat. Same thing as supposedly happened with MtGox, they got hacked, not "bitcoin."
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The signature campaign posters adding useless redundant fluff to their posts to reach their minimum word count are lowering my IQ.
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jonald_fyookball
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Activity: 1302
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Core dev leaves me neg feedback #abuse #political
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May 24, 2014, 12:41:03 PM |
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I don't see how that would make the fiat "protocol" hackable. ATMs got hacked, not the fiat. Same thing as supposedly happened with MtGox, they got hacked, not "bitcoin."
As far as "hacking" a protocol: 1. Dollar bills can be counterfeited, and bitcoins can't. 2. Bank ledgers can have errors, bitcoin ledger can't. |
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Light
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May 24, 2014, 12:54:03 PM |
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Eh, it's not really a flaw in the fiat system - it's just a lapse in security. The same can happen to any user who doesn't follow good security practices and thus has their coins stolen. Personally, I'm still far more inclined to say that the fiat system is safer - if needs be they can literally print more money to compensate losses as well as make the stolen money illegal for all intents and purposes which can't be done with Bitcoin.
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