Reply to post: Paper and Bitcoin are FIAT money,

$67M in bitcoin stolen as hacking typhoon lashes Hong Kong's Bitfinex

101
Meh

Paper and Bitcoin are FIAT money,

So, let's not go there.

However for BC to EVER gain credibility leaders must move towards FDIC type insurance and reliable security measures to assure user some 15 year old kid won't wipe out your life's savings in an eye blink. Apparently, the block chain in itself is not secure at all.

Also, something needs to be done and decided about the extent of BC anonymity. When I go to the market to buy a loaf of bread with money, I don't need to divulge by entire data bank of personal information. NOT SO with bitcoin, they say, by design. WTF?

I suppose in the end BC will be tracked and documented more than any form of value exchange. It's new fangled and thus suspicious you know. Like rock and roll. Computers. The internet.

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