Computer compromise leads to theft of bitcoins valued at $500,000 USD

Re:Computer compromise leads to theft of bitcoins valued at ... by hugh3 on Tuesday June 14, 2011 @11:51AM (#2653503)

Yep, which is why if you have $500K you keep it in the bank and not in your wallet. (Err, not that $500K would fit in your wallet, but anyway...)

Bitcoin has no "bank" equivalent.

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Re:Computer compromise leads to theft of bitcoins valued at ... by Jetlag on Tuesday June 14, 2011 @01:05PM (#2653796)

Except you can put a wallet on a thumb drive, and literally put it in a bank (safe deposit box).

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Re:Computer compromise leads to theft of bitcoins valued at ... by burgerbrain on Tuesday June 14, 2011 @02:07PM (#2654031)

Exactly, make sure the only copies of the wallets with your money are on non-networked, non-running hardware, preferably just straight up storage media, and secure it physically. You can make it as secure as you can possibly make anything. Hell, you could even get it insured.

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Re:Computer compromise leads to theft of bitcoins valued at ... by abofh on Tuesday June 14, 2011 @02:05PM (#2654025)

Though interestingly, your bank isn't generally required to repay you for losses in your safe deposit box unless it arises from their negligence.

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Re:Computer compromise leads to theft of bitcoins valued at ... by erikpukinskis on Wednesday June 15, 2011 @11:38AM (#2657517)

Probably makes sense to print it out on a sheet of paper and put it in there too.

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Re:Computer compromise leads to theft of bitcoins valued at ... by noglorp on Tuesday June 14, 2011 @04:48PM (#2654693)

What do you call exchanges that hold an on-site balance?

I'm also fairly sure there are several brands trying to provide a "bitcoin banking service".

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Re:Computer compromise leads to theft of bitcoins valued at ... by rick888 on Tuesday June 14, 2011 @05:14PM (#2654776)

not decentralized?

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