Quote:
Originally Posted by dyna mo
well, I'm certainly skeptical of having my bitcoin online for even brief periods of time. IMO any place that transacts bitcoin is hanging a sign out stating "we're open for hacking!" It's the first thing I do when I complete a bitcoin transaction- move them offline right then and there.
Nevertheless, youare right, I trust Netbilling. I've worked with Ben and Eddie many times over the years. Ben has been there a very long time and worthy of my trust.
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While you're correct in principle, exchanges carry large wallets of all sorts of coins, and I leave significant amounts in them all the time. When dealing with unknown sites developed with an uncertain amount of skill, you should never leave any coins hanging out there.
What you're talking about applies to sites like those, and to "online wallets," which are universally a bad idea. When it comes to a company as trustworthy as Mitch's crew, I see no reason to doubt that our coins would be well watched-after.
The most optimal solution in this regard is to do what the mining pools do: charge a small per-transaction fee for auto-withdrawls at certain thresholds. I have automatic withdrawals on all of my mining pools. They send the coins directly to my wallets without me having to do anything other than watch the balance rise.
I think it's important to look at the spirit of why people say things as well as what they're saying. A blanket "do not leave your coins online" statement is like "never open an attachment from someone you don't know": good advice for most, but it's situation-specific.