Bullish news: 300 - 900 million stolen from banks by malware

[julian071]

http://www.nytimes.com/2015/02/15/world/bank-hackers-steal-millions-via-malware.html?partner=socialflow&smid=tw-nytimes&_r=3

If people who hold fiat react the same way people who hold BTC reacted to the MtGox fiasco, we're certainly off to the moon!

[ajareselde]

http://www.nytimes.com/2015/02/15/world/bank-hackers-steal-millions-via-malware.html?partner=socialflow&smid=tw-nytimes&_r=3

If people who hold fiat react the same way people who hold BTC reacted to the MtGox fiasco, we're certainly off to the moon!

If you're thinking that people who got their money stolen wont be compensated in some way, i think you're wrong, it was in the bank anyways, and they need to provide some sort of
compensation, but in the end it all depends on whos fault was the money stolen.
Is more likely that the thief is going to convert money he stole to btc rather than the rest of the customers.

cheers

[havecoch]

http://www.nytimes.com/2015/02/15/world/bank-hackers-steal-millions-via-malware.html?partner=socialflow&smid=tw-nytimes&_r=3

If people who hold fiat react the same way people who hold BTC reacted to the MtGox fiasco, we're certainly off to the moon!

Certainly, what happened to the mycoin news that came out last week    looked bad already

[julian071]

http://www.nytimes.com/2015/02/15/world/bank-hackers-steal-millions-via-malware.html?partner=socialflow&smid=tw-nytimes&_r=3

If people who hold fiat react the same way people who hold BTC reacted to the MtGox fiasco, we're certainly off to the moon!

If you're thinking that people who got their money stolen wont be compensated in some way, i think you're wrong, it was in the bank anyways, and they need to provide some sort of
compensation, but in the end it all depends on whos fault was the money stolen.
Is more likely that the thief is going to convert money he stole to btc rather than the rest of the customers.

cheers

Yeah you're probably right. I was being slightly sarcastic. Gigantic thefts like this will not lead people away from fiat, because a) they will not be affected by it personnaly and b) everything will be smoothed out by the financial industry as a whole, who will be very careful to have have their main asset, trustworthtyness, tarnished in any way.

Still, this theft is huuuuge and it shows that banks are prone to hackers just as crypto-exchanges are.

[LewiesMan]

Now everyone needs to get in bitcoin and avoid those dodgy exchanges.

[ElectricMucus]

How is that bullish?

[Coinshot]

Its not bullish. They are protected by the government. In contrast all those who lost at Bter have lost it for ever.

[LewiesMan]

Its not bullish. They are protected by the government. In contrast all those who lost at Bter have lost it for ever.

This is a fair point actually.

[ajareselde]

Its not bullish. They are protected by the government. In contrast all those who lost at Bter have lost it for ever.

Why do people even hold their crypto on exchange sites? the point of exchange is to exchange what u want and return it to your wallet.
Leaving alot of funds in trust with site that doesnt even have publicly known owner is like screaming you want to be robbed.
Serve them right i say.

[Coinshot]

Its not bullish. They are protected by the government. In contrast all those who lost at Bter have lost it for ever.

Why do people even hold their crypto on exchange sites? the point of exchange is to exchange what u want and return it to your wallet.
Leaving alot of funds in trust with site that doesnt even have publicly known owner is like screaming you want to be robbed.
Serve them right i say.

Too lazy I think. After Gox and recently Bitstamp there is no reason to keep big amounts.

[BitCoinNutJob]

http://www.nytimes.com/2015/02/15/world/bank-hackers-steal-millions-via-malware.html?partner=socialflow&smid=tw-nytimes&_r=3

If people who hold fiat react the same way people who hold BTC reacted to the MtGox fiasco, we're certainly off to the moon!

haha thats great news, time to swap your fiatcoin for crypto mainstream sheeple.

[ajareselde]

http://www.nytimes.com/2015/02/15/world/bank-hackers-steal-millions-via-malware.html?partner=socialflow&smid=tw-nytimes&_r=3

If people who hold fiat react the same way people who hold BTC reacted to the MtGox fiasco, we're certainly off to the moon!

haha thats great news, time to swap your fiatcoin for crypto mainstream sheeple.

Impossible quest, due to simple reason that most of the clients dont even know what bitcoin is, except maybe something they heard about in the news, ofc. in some bad news of a theft..
It would be awesome for price if someone was to launch media campaign promoting exactly that, crypto security over banks, but who would we be kidding, crypto isnt even remotely secure and safe enough for prople to trus their life savings to it.

cheers

[caga]

http://www.nytimes.com/2015/02/15/world/bank-hackers-steal-millions-via-malware.html?partner=socialflow&smid=tw-nytimes&_r=3

If people who hold fiat react the same way people who hold BTC reacted to the MtGox fiasco, we're certainly off to the moon!

haha thats great news, time to swap your fiatcoin for crypto mainstream sheeple.

its the same unfortunately on both sides.

[ikydesu]

Its not bullish. They are protected by the government. In contrast all those who lost at Bter have lost it for ever.

Why do people even hold their crypto on exchange sites? the point of exchange is to exchange what u want and return it to your wallet.
Leaving alot of funds in trust with site that doesnt even have publicly known owner is like screaming you want to be robbed.
Serve them right i say.

I personally store my btc to exchanger for trading and im not store for big amount. When i heard about Bitstamp hack i directly send all my asset to dekstop wallet.

maybe they're who store they btc on exchanger is lazy, but when the exchanger collapsed they're panic and shout with their stupid things

[ndnh]

http://www.nytimes.com/2015/02/15/world/bank-hackers-steal-millions-via-malware.html?partner=socialflow&smid=tw-nytimes&_r=3

If people who hold fiat react the same way people who hold BTC reacted to the MtGox fiasco, we're certainly off to the moon!

Conclusion: USD is less secure than BTC.

BTC price to the moon!

[uki]

Its not bullish. They are protected by the government. In contrast all those who lost at Bter have lost it for ever.

This is a fair point actually.

That is actually the biggest difference, between a centralised government/bank-backed fiat currency and a fully decentralised bitcoin network. Once he coins are spent, they are gone and you depend only on the good will of the receiving party to get the incorrectly transacted coins. which in this case (BTER) we probably won't see. 

[Febo]

Its not bullish. They are protected by the government. In contrast all those who lost at Bter have lost it for ever.

But on other hand, government gets money from people. so innocent people payed this bank loss. Not bankers and no those that kept money in bank. You find it fair?

[Bitobsessed]

Its not bullish. They are protected by the government. In contrast all those who lost at Bter have lost it for ever.

But on other hand, government gets money from people. so innocent people payed this bank loss. Not bankers and no those that kept money in bank. You find it fair?

So, when hackers steal $100 million the people are insured and get their money back.  But, the $100 million from the bank just gets written off as stolen.  So they print billions, create even more through credit, and then write it off and just replace it when it gets stolen?  Wont last forever.