Bitcoin heist shows we may all not be ready for a Wild West mentality with currency.
The power to regulate is the power to grant favors.
The "Bitcoin Heist" does not show an upside of regulation. Rather, it provides a valuable lesson to keep your bitcoin wallet locally. Or, it shows a market need for Bitcoin insurance.
But surely, it does not show an upside of bringing State force/coercion into the equation.
Consensual relationships. Inherent property rights via self-ownership. These are the core ideas that must be held up high so that a market of voluntary exchange can flourish.
It is my understanding that in every BTC "heists" which have happened, the victims were people who stored their coins with outside services. Store your wallet yourself, and keep backup copies on thumb drives. If your wallet isn't already encrypted, encrypt it. If you have an old PC gathering dust, resurrect it and use it for bitcoins related stuff and security software only. Keep it turned off otherwise. I am also wary of smartphone apps. I would only keep a minimal number of coins on my phone account.
The above is only my opinion, based on my limited knowledge of bitcoin. Users, do your own research. FTL- please have one of the experts on to give us the lowdown on personal BTC security. I suspect FTL listeners are big BTC users, if Porcfest is any indication.
LIVE 7 Days a Week!
Mon-Sun: 7pm-10pm Eastern
Enter your E-mail:
See our past emails.
Welcome Free Talk Live 2.5! Now, with Reddit!
You'll need a Reddit account before you can vote on and submit show prep. (That is different from your FTL/AMP account.)
The content here is the same as you will see on the FTL Subreddit. Please submit bug reports on the appropriate BBS subforum.
Enjoy the new site and thanks for submitting your content!