[BossChief]

This post?

There have been tons of online wallets hacked for big money, a few exchanges have had major problems. But the demand has continued to soar.

Originally Posted by AustinChief

ok, there are a lot of people here who don't seem to understand bitcoin at all.

#1 YES it is vulnerable to hackers.. but not in the way you would think. Hackers don't attack the currency itself. (well occasionally they do steal wallet files just like real world pickpockets) What they do is attack the currency trading sites. This tends to drive prices down. Sometimes a little, sometimes a lot. When the prices go down, they swoop in and buy low then sell high. It's not really a big deal and likely will work itself out over time.

#2 yes someday the ACTUAL cryptography will be much easier to "hack" but we are not anywhere CLOSE to that right now. We are (at current rates) DECADES away from that being even a consideration. UNLESS people get off their asses and put out some serious quantum computers.

#3 See above for concerns about mining... it's the same issue.

Originally Posted by BigRedChief

not directed against you, but others in this thread. Info is in google. Use some Common sense and history that tells us that anything electronic that is stored electronically can be hacked. Anything.

See AustinChiefs post #38 when this thread stated back in 2013. I've already said this several times. I'm not talking about hacking the bitcoin itself just hacking where it's stored to steal it.

I was paid major $'s to architect two different blockchain models. I got on this blockchain model early. I worked as a security architect in a place with the best hackers in the world that was itself hacked 1 million times a day. I don't say this to brag but because I like you, to make it known to you that on this particular specific subject, I can speak with authority.

And I'm telling you that your money is probably safe however there are many states, groups, serious and very capable ones that on the verge of being able to hack bitcoin stores. I personally would not be staking my financial future on something that will be hacked.

I've got money stored in many different ways, but I'd say 30-40% of my savings is crypto and I keep about 30% of that on coinbase to buy and sell with. The rest is encrypted with my Trezor that the keys are written on paper and stored in a safe place.