News for hackers. Stuff that matters.

A comment on Bitcoin Price Touches $1,000 Again as Overstock Sales Hit $130,000. Parent comment

Re:Bitcoin Price Touches $1,000 Again as Overstock Sales Hit... by tadfisher on Saturday January 11, 2014 @10:28PM (#7045029)
Overstock isn't accepting BTC, they are accepting USD from Coinbase, who in turn accept BTC. Coinbase bears the security risk.
[ Parent | on HN ]
Re:Bitcoin Price Touches $1,000 Again as Overstock Sales Hit... by chii on Sunday January 12, 2014 @12:33AM (#7045270)
so swap the reference to the opsec of Overstock with coinbase's.

as soon as there's enough money, well funded organizations will start attacking, and robbing a bitcoin wallet is probably less risky than a bank...

[ Parent | on HN ]
Re:Bitcoin Price Touches $1,000 Again as Overstock Sales Hit... by thelsdj on Sunday January 12, 2014 @01:50AM (#7045416)
I believe Coinbase holds the majority of their BTC in offline wallets distributed in multiple bank vault around the world.

They are probably one of the groups with the best BTC storage security (while maintaining usability). So yes, if they WERE to be robbed, then that would basically mean that no one is able to properly secure BTC.

[ Parent | on HN ]