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To: Boogieman
They keep your bitcoins secure for you, kind of like a bank, and you use the wallet to make your transactions.

Then they say the vault was hacked, and your money, but not their money, is gone.

14 posted on 10/27/2015 5:53:31 PM PDT by PAR35
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To: PAR35

True, there’s certainly some risks as we have seen.

Personally, I’m waiting to see how these things develop. I think there is a commercial incentive for the companies to keep increasing the security and stability, because with currency, confidence is everything. Until people are really confident that their bitcoins won’t vanish, the companies are losing revenue. So I bet eventually they’ll work out the flaws even without a lot of regulation forcing them to.


17 posted on 10/27/2015 6:02:08 PM PDT by Boogieman
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