Reply to: Bitcoins

[administrator]

Every time they go up in value this poor bugger is going to be kicking himself. HARD! And also shows the big flaw in these virtual currencies, lose the key and you are shafted

Missing: hard drive containing Bitcoins worth £4m in Newport landfill site | Technology | theguardian.com

[Halo Jones]

Now at $1000 each

[kevpuk]

I mined these early on, made enough for a fancy graphics card to continue mining and about £100 on top......then got fed up with leaving the PC on 24/7 and wandered off.....think I had about 4 coins left floating around in some wallet somewhere, but various OS installs/re-installs since and no idea how to even start to find necessary details....
Done, for me - still, a shame considering their current value!

[Eirikur]

Bitcoins now also used for ransom to unencrypt computers being held hostage:
BBC News - Police warn of 'ransom' spam targeting UK users

[MicrosoftBob]

Tor has always been comprised, considering who made it I'd never consider myself truly anonymous

How do we know Bitcoins isn't a rather clever honey pot ?

[Platypus]

I'm annoyed that I didn't dabble in these when I first though "oh, that sounds interesting".

It makes sense. An independent, anonymous store of value away from states and banks.

Don't really understand the investment though and seem to have missed the boat now.

Same here

[doodab]

Backup won't help you if it's stolen you numpty - check how it works.

That's why you need to encrypt it. I have a hardware encrypted usb stick, for double magic secrecy power I encrypt things in software too.

That way a stolen wallet doesn't mean the money can be spent.

[Boney M]

I wonder if there is an opportunity for an insured online bitcoin wallet.

Main problem isn't getting 100% security but some redress AFTER it is breached - with bitcoin you can do fook all after it's stolen and that's why (one of the many reasons) it can't replace money.

Should I have bought them when they were < $10? Maybe...

Just have your bitcoin wallet offline, thing is people either cannot be arsed or do not understand it at all

[AtW]

I did read that there's only so many bitcoins left to mine?

Not many - this means there will be no BitCoin Quantitative Easing, EVER!

[quackhandle]

I did read that there's only so many bitcoins left to mine?

qh

[AtW]

Really? You couldn't use the same CCTV to watch your USB drive as you use to watch your physical wallet? What about if there is no CCTV? The backed up, encrypted, inaccessible bitcoin wallet is much more secure than physical cash then.

Backup won't help you if it's stolen you numpty - check how it works.

[Bacchus]

You could keep your bitcoin wallet in your house on an encrypted USB drive, and you can both keep a back up of your bitcoin wallet and guarantee that a thief can't open it. You can make it as secure as you want, keep it in the safe if you like.

Ah so that's what the Bitlocker in Win 7 Ultimate was for...

[doodab]

The point is that once stolen you got ZERO recourse.

Really? You couldn't use the same CCTV to watch your USB drive as you use to watch your physical wallet?

What about if there is no CCTV? The backed up, encrypted, inaccessible bitcoin wallet is much more secure than physical cash then.

[AtW]

You could keep your bitcoin wallet in your house on an encrypted USB drive, and you can both keep a back up of your bitcoin wallet and guarantee that a thief can't open it. You can make it as secure as you want, keep it in the safe if you like.

The point is that once stolen you got ZERO recourse.

It's only good as transient credits that get turned quickly into real money.

[doodab]

Not at all - CCTV can catch guy who stole it and then he can be found and made pay for it - with bitcoins someone can hack into your system and take your money, you won't have ANY chance of getting it back.

You could keep your bitcoin wallet in your house on an encrypted USB drive, and you can both keep a back up of your bitcoin wallet and guarantee that a thief can't open it. You can make it as secure as you want, keep it in the safe if you like.