[ale] [OT] (but computer and cryptography related) Bitcoin, Litecoin

[Pete Hardie]

Thinking on it, I realized that the one big drawback to an totally
anonymous currency is that nobody knows how much you have, so if
someone loses/gets theirs stolen, they have no recourse, unlike a
regular currency, which the bank, at least, has a record of how much
you had, and you can recover it through various investors insurance
plans (FDIC, etc)

an aside - are Swiss bank accounts covered by something like FDIC?  So
that if the heroes loot your hidden account, you can make a claim?


On 4/8/13, Ron Frazier (ALE) <atllinuxenthinfo at techstarship.com> wrote:
> Hi Michael,
>
> That's an interesting article.  I have noticed a trend of these type of
> sites getting attacked.  I guess that whenever you put anything valuable
> on a public website, the vipers start attacking it.  There are probably
> many motives for attacking these type of sites, anywhere from blackmail
> to competition among players to outright stealing.  Bitcoins are
> prohibitively expensive to mine at this point so my interest is in
> Litecoins.  Many of the same concepts apply.  I think a lot of the
> people that are on the service provider side of this are pioneer types,
> programmers and engineers that are enthusiastic about just getting
> things to work.  They're putting services up there and changing them at
> a rapid pace.  But, they not be the best at security.  The industry is
> young and many sites are going through some growing pains.  Of course,
> if you're being DDOSed by a botnet of 100,000 pc's, that's hard to deal
> with in any case.  I'm afraid that some of the sites are going to have
> to learn that some of the rules, procedures, and audits that the
> traditional financial world has in place are a good thing after all.
> I'm trying not to expose any coins I may have on a public website for
> any period of time.
>
> Sincerely,
>
> Ron
>
> On 4/6/2013 8:39 PM, Michael Nolan wrote:
>> http://thehackernews.com/2013/04/bitcoins-wallet-service-instawallet.html
>>
>> "The digital currency Bitcoin has suffered yet another hack. Bitcoin
>> wallet site Instawallet has been taken offline after a security
>> compromise, has suspended its service indefinitely."
>
>
> --
>
> (PS - If you email me and don't get a quick response, you might want to
> call on the phone.  I get about 300 emails per day from alternate energy
> mailing lists and such.  I don't always see new email messages very
> quickly.)
>
> Ron Frazier
> 770-205-9422 (O)   Leave a message.
> linuxdude AT techstarship.com
>
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-- 
Pete Hardie
--------
Better Living Through Bitmaps