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Originally Posted by Sunny Day
MTGOX claims to control 80% of the Bitcoin market, if that's true, then they pretty much are the currency.
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Non sequitur.
If X% of all transactions that take place at a certain moment in time take place at a certain location, that does not mean that all future transaction will or need to take place at that location as well.
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And if they can get hacked, any Bitcoin market or wallet can get hacked.
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"...Because of the possibility that our users may have used the same password on multiple exchanges, we will be halting the ability to trade or withdraw funds for a few hours..."
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Any computer system can get hacked. Of course there's a lot of things you can do to increase the level of protection. In most cases, increasing security means giving up some userfriendliness. For example opening a door and walking trough it is easier than first having to unlock the door or first having to get your irises scanned before you can open the door.
The same goes for bitcoin wallets. Cold storage or paper bearer bonds are less user friendly than storing your btc in an online ewallet controlled by a 3rd party.
How and where you store and transfer something of value, be it gold, cash, btc or anything else, is your own choice and responsibility. If a user chooses to store an object of value in a place where it could easily be stolen or lost or burnt or disintegrate or... or if that user chooses to compromise his own security by using the same password at more than one place, that does not mean the means of storage chosen by the other users suddenly become less secure.