[Chugalug] OT: Bitcoin prices almost at record highs again

Aaron welch n2nightfall at gmail.com
Tue Feb 19 18:16:21 UTC 2013


A currency is not an investment.  A currency is used in exchange of goods
or services.  Like all currencies, Bitcoins can be stolen as easily as your
wallet left out in public.  The currency system itself is pretty sound
(more so than the Federal Reserve/Treasury Dept), but their electronic
format makes them easier to locate and steal for those with the means and
the will.  "Investing" in Bitcoin is a risky endeavor that COULD pay off
big, but alot of people thought that about the Ginko bank system in Second
Life a few years back as well.


-AW


On Tue, Feb 19, 2013 at 1:11 PM, Stephen Kraus <ub3ratl4sf00 at gmail.com>wrote:

>
> http://www.dailytech.com/Second+Bitcoin+Hack+Highlights+Challenges+Resilience+of+Anarchic+ECurrency/article27776.htm
>
> That is just one of two instances I know of.
>
> It is a distributed system....but it has still been subject to regular
> theft:
>
> http://en.wikipedia.org/wiki/Bitcoin#Incidents
>
> Like I said, I like the idea of the Bitcoin, I don't trust it yet as
> alternative to proper investments.
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-- 
Aaron Welch
Chief Mechanic @ Geek Ventures
423-505-9999
n2nightfall at gmail.com
"Enabling people to do great things with their own ideas."
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