News for hackers. Stuff that matters.
Re:BadEconomics: Putting $400M of Bitcoin on your company ba... by tachyonbeam on Monday January 04, 2021 @12:27PM (#25634685)
Yeah... I bought about $250 worth of bitcoins two years ago on an exchange. The exchange went bankrupt and the bitcoins are gone. At least with a stock broker your account is insured by the government up to a certain amount.

Yes, I know, run your own wallet, don't leave your bitcoins on the exchange... Except again, with stocks, you don't have to worry about that. I was personally hoping that a bitcoin exchange would have better security and backups than my home PC. As far as I'm concerned, storing bitcoins on your machine, with no insurance, is not much safer than storing gold bullion in your closet.

I'm just happy what I was wise enough not to put more money in bitcoin than I could afford to lose.

Re:BadEconomics: Putting $400M of Bitcoin on your company ba... by ball_of_lint on Monday January 04, 2021 @01:43PM (#25635973)
It would be wonderful to have a BTC bank account with an insurance policy denominated in BTC, but that doesn't exist yet (AFAIK). Until then... Not your keys not your coins.

Also, you don't need to store them on your PC. There are also paper wallets, hardware wallets, or you could put your wallet files on a flash drive.

> I'm just happy what I was wise enough not to put more money in bitcoin than I could afford to lose.

That should be the default for ~any investment.

Re:BadEconomics: Putting $400M of Bitcoin on your company ba... by companyhen on Monday January 04, 2021 @01:20PM (#25635587)
Not your keys, not your coins.
Re:BadEconomics: Putting $400M of Bitcoin on your company ba... by vmception on Monday January 04, 2021 @02:28PM (#25636596)
People are learning, glad you did too.

I wish I could withdraw my stocks easily, and it takes a very long time to transfer stocks between accounts or even exchanges. Thats a bug, to me.