Quote:
Originally Posted by Love Sex
kind of scary, why anyone would keep that much in there is nuts. There is an article from the guy that had all his transactions reversed for a serious amount of money when it crashed.
I closed the program after that.
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Bitcoin itself and its network is pretty safe and secure. The issue in all these incidents is personal and web based services security vulnerability. Bitcoins must be treated as cash, if your wallet is sticking out of pocket in crowded mall, you can be sure it will be gone. people never had to deal with security because previously there wasn't much to steal from their computers, with Bitcoin - not any more, if you keep stash of cash on your computer you better be sure it's safe, and be wary who you trust with your money.
the transaction reversal you are mentioning has nothing to do with bitcoin itself, bitcoin transactions are irreversible. there was hacker rundown on exchange and some of executed orders were fraudulent in nature - they were reversed. from my understanding this is also common practice in all other real world exchanges.