Hackers steal 300-900 million!

[mercistheman]

Can we link this every time some rag post a comment from a govt official warning about the dangers of bitcoin security.

[monkeygang]

If this were to be btc, all the negative news will start to pour in to make it look real bad. And talk about being fair

If this was btc, we would already be banned by now

Bitcoin cannot be banned due to the fact that it is decentralised. The whole internet would have to be shutdown to block Bitcoin. It would be unlikely such a big hack would happen to Bitcoin as the encryption is relatively secure enough for at least another 10-20years.

of course it could be banned these people are the boogeymen. Could the ban stick (see prohibition).
More than likely the govs are looking on a way to capitalize, as all politicians and bankers are crooks..
and this is looking like a sweet way to finance whatever discreetely

[inBitweTrust]

I don't see how this could even remotely be good news for bitcoin. Banks cover such losses so their costumes lose nothing. It's ridiculously easy for a newbie to lose his bitcoins if he doesn't take proper steps to secure his wallet. I've been a bitcoin supporter for two years, I've yet to see a way that makes 'bank grade' security for storing bitcoin accessible to the average user.

This is the myth that we need to educate all people about. FDIC insurance ultimately is amortized across all clients/citizens. Everyone ultimately pays for all these losses through service fees, deductibles, inflation, merchant processing fees raising the cost of all goods and services, ect..

Banks and governments are sophisticated grifters who have managed to fool everyone into thinking that using credit cards actually is secure and gives customers up to 1% "cash back" for spending or that inflation is only 2-3% a year.

I don't see how this could even remotely be good news for bitcoin. Banks cover such losses so their costumes lose nothing. It's ridiculously easy for a newbie to lose his bitcoins if he doesn't take proper steps to secure his wallet. I've been a bitcoin supporter for two years, I've yet to see a way that makes 'bank grade' security for storing bitcoin accessible to the average user.

There are plenty of solutions which are as secure or more so than bank security for bitcoin: https://bitcointalk.org/index.php?topic=858604.0

[Andre#]

I don't see how this could even remotely be good news for bitcoin. Banks cover such losses so their costumes lose nothing. It's ridiculously easy for a newbie to lose his bitcoins if he doesn't take proper steps to secure his wallet. I've been a bitcoin supporter for two years, I've yet to see a way that makes 'bank grade' security for storing bitcoin accessible to the average user.

Circle, Xapo. The insurance they offer isn't government backed. But if that government happens to be, say, Iceland, it actually may be better.

[LiteCoinGuy]

BAN DOLLARS! Now you see how dangerous that is! 

[alani123]

There are plenty of solutions which are as secure or more so than bank security for bitcoin: https://bitcointalk.org/index.php?topic=858604.0

Still, are they as accessible to the average user as registering a bank account and depositing?

[inBitweTrust]

There are plenty of solutions which are as secure or more so than bank security for bitcoin: https://bitcointalk.org/index.php?topic=858604.0

Still, are they as accessible to the average user as registering a bank account and depositing?

For the most part, no ... and that is what everyone is working on. Most hardware wallets are easy to setup but not for the average user, they just wants something that is secure and works right out of the gate. I believe the first step towards greater usability that will be released shortly is  -
https://mycelium.com/bitcoincard

This hardware wallet doesn't depend upon a laptop and can be used as a standalone hardware wallet that just works for targeted for under 80 dollars.

When Standalone hardware wallets start being sold for under 50 usd , fit on a keychain, and are nfc compatible than expect much greater adoption to occur.

[ikydesu]

...Bitcoin unaffected.

http://www.nytimes.com/2015/02/15/world/bank-hackers-steal-millions-via-malware.html?_r=1

In a report to be published on Monday, and provided in advance to The New York Times, Kaspersky Lab says that the scope of this attack on more than 100 banks and other financial institutions in 30 nations could make it one of the largest bank thefts ever — and one conducted without the usual signs of robbery.

This is sad news
whether the employees is not installed anti-virus or ect? i think there are many site to for scan site and file like virustotal.com for example.

Hackers tyrant

[CoinRocka]

this is just the beginning.

[dex1]

Here it is on the front page of today's NYT.

[zimmah]

Someone steals from a bank and no one bats an eye, someone loses a few bitcoin and everybody loses their minds,

[R2D221]

Here it is on the front page of today's NYT.

It's on the front page, but it's rather small on my opinion.

[croato]

Not big deal for govs/bank clan, they will just print more cotton pieces and cover loss. When you got hack for Bitcoins noone cant make new coins just like that.

[bitllionaire]

this time is when we see that everything is susceptible to be hacked

[inBitweTrust]

Thanks original poster, you're likely the cause for all these exchange thefts that occurred today and yesterdays.  Butters just couldn't refrain from bragging about how $Fiat lost 300-900 million so those hackers came to BTC and did their damage here too.  

It is a rather simple concept that repeats itself through history and the raison d'être of bitcoin. When you let someone else control your money they will either steal it themselves or have it stolen through gross incompetence.

Decentralization makes it more difficult to attack as there are many targets with small payoffs. If you don't control your private keys you don't own the money and are merely hoping the third party will be so kind as to return your funds you gave them.

https://bitcointalk.org/index.php?topic=858604.0

With fiat, you never own any of it, as they are simply debt contracts that states allow you to temporarily use if you behave.

[inBitweTrust]

this time is when we see that everything is susceptible to be hacked

One should always combine physical and digital security. Doing this will make the inherent costs of hacking more expensive than the rewards and thus you can be reasonably sure your funds are safe.