Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Nonsense Unlimited

It’s the illusion of security. People are afraid their computer will be hacked, or they’ll grab a virus, or their computer will crash, but some central repository says they’re secure... I wouldn’t want to keep thousand of dollars of virtual money on my PC, especially not my old PC that was going through death throws. Of course I wouldn’t keep it in some random website either. If I got a bitcoin my #1 goal would be to turn it into cash in my normal bank by the end of the day.


13 posted on 03/05/2014 9:44:44 AM PST by discostu (I don't meme well.)
[ Post Reply | Private Reply | To 4 | View Replies ]


To: discostu

That’s why you keep a copy of your Bitcoins on some type of external storage. Something as simple as a USB thumb drive is fine. You can spread copies to several devices for redundancy.

If someone steals a copy, they can’t so anything with them as they do not have the private keys (which hopefully you made sure you have somewhere safe in a separate location from the Bitcoins) for them.

I don’t have any Bitcoins either, I just find the tech fascinating.


17 posted on 03/06/2014 4:35:30 AM PST by Nonsense Unlimited
[ Post Reply | Private Reply | To 13 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson