MtGox launches Bitcoins.com, an information site for all things Bitcoin

Re:MtGox launches Bitcoins.com, an information site for all ... by lingben on Thursday November 28, 2013 @09:48AM (#6814704)

Under "protection":

"The nature of Bitcoin means that, compared to credit cards or other financial tools, your identity is safer from theft. Your level of privacy is up to you, and in the online world privacy and protection are an asset."

This is hilarious. Right now basically every week we have news of millions of dollars worth of bitcoins being stolen from sites. In contrast, with a credit card every client has full protection including fraud, charge-backs, returns, etc.

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Re:MtGox launches Bitcoins.com, an information site for all ... by wcummings on Thursday November 28, 2013 @09:57AM (#6814735)

Saying CC's have robust fraud protection is equally misleading, imo. They require you trust every merchant, website, waiter, etc to not abuse your information. Chargebacks just shift the cost of the merchant, most of the time, and as best I can tell PCI exists mostly to shift liability around.

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Re:MtGox launches Bitcoins.com, an information site for all ... by bunderbunder on Thursday November 28, 2013 @01:00PM (#6815672)

In the USA, credit cards don't do anything protect anybody from fraud.

However, they have extremely robust mechanisms in place for shuffling around the consequences of all the rampant fraud that results from their complete failure to offer even the barest minimum of fraud protection. So as a consumer I get to feel protected all the same.

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Re:MtGox launches Bitcoins.com, an information site for all ... by bunderbunder on Thursday November 28, 2013 @10:12AM (#6814807)

At the same time, seems like the credit industry was kind of asking for this kind of thing when they decided to muddy the waters by spin doctoring "credit card fraud" into "identity theft"

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Re:MtGox launches Bitcoins.com, an information site for all ... by pilker09 on Thursday November 28, 2013 @09:52AM (#6814714)

> Right now basically every week we have news of millions of dollars worth of bitcoins being stolen from sites.

Rule 1: If you store your bitcoins with someone else, they'll most likely get stolen. People need to learn how to store their own bitcoins or they'll end up not having any.

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Re:MtGox launches Bitcoins.com, an information site for all ... by stingraycharles on Thursday November 28, 2013 @09:54AM (#6814720)

Out of curiosity, what is the best way to store bitcoins? Have your wallet synchronized with a third-party backup provider?

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Re:MtGox launches Bitcoins.com, an information site for all ... by alexro on Thursday November 28, 2013 @10:03AM (#6814758)

http://www.reddit.com/r/Bitcoin/comments/1pxycu/tutorial_how...

http://www.reddit.com/r/Bitcoin/comments/1pxq6s/can_we_get_a...

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Re:MtGox launches Bitcoins.com, an information site for all ... by pilker09 on Thursday November 28, 2013 @09:57AM (#6814732)

Here's my method, further down the comments:

https://news.ycombinator.com/item?id=6814692

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Re:MtGox launches Bitcoins.com, an information site for all ... by devcpp on Thursday November 28, 2013 @11:42AM (#6815242)

Like they said, "Your level of privacy is up to you". It seems like most people are competent enough to manage keeping their wallets safe...

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Re:MtGox launches Bitcoins.com, an information site for all ... by alexro on Thursday November 28, 2013 @10:02AM (#6814756)

How about having your funds sliced by sort of Cyprus scenario? How about getting ill for half a year and finding out that the inflation has eaten most of your savings away?

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Re:MtGox launches Bitcoins.com, an information site for all ... by jonknee on Thursday November 28, 2013 @10:24AM (#6814870)

I'll take my chances on a major currency (Euro/USD/GBP) over BTC in terms of volatility any day. You could find out that your BTC savings have become nearly worthless in six months. Or if you are unlucky enough to have a debt in BTC you could find out your debt has skyrocketed because of more BTC speculation (imagine you had a 1000BTC loan back when it was $10 a coin).

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Re:MtGox launches Bitcoins.com, an information site for all ... by GhotiFish on Thursday November 28, 2013 @05:51PM (#6816912)

yikes!!! That's actually terrifying. The dark side of inflation.

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Re:MtGox launches Bitcoins.com, an information site for all ... by sireat on Friday November 29, 2013 @04:00AM (#6818516)

The dark side of deflation actually.

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Re:MtGox launches Bitcoins.com, an information site for all ... by gaadd33 on Thursday November 28, 2013 @02:55PM (#6816121)

What major currency has such hyperinflation that it would eat away savings in half a year?

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Re:MtGox launches Bitcoins.com, an information site for all ... by GhotiFish on Thursday November 28, 2013 @05:53PM (#6816922)

half a year? Nothing comes to mind.

Interestingly, 10 years is a different story! http://www.economist.com/content/big-mac-index

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