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0 pointsbogomipz7y ago0 comments

>"Sure, but at the same time, someone who is unwilling to give second chances to the pioneers who took risks before them -- that's more toxic"

Sorry but taking calculated entrepreneurial risks is not at all the same as being careless. The contempt stems from the latter type of risk not the former. Conflating the two is also toxic.

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rasengan7y ago

By your theory every single exchange is simply careless then right? Every intelligent computer user knows that ALL THINGS get hacked.

Practicing Defense in Depth is the only solution.

All the exchanges hold your assets in trust, usually in just a few “cold storage” wallets. This is carelessness. They saw what happened to MtGox and are still operating like that.

bogomipzOP7y ago

>"By your theory every single exchange is simply careless then right? Every intelligent computer user knows that ALL THINGS get hacked."

I wasn't positing any theory.

The "carelessness" referenced also had nothing to do with being hacked.

Carelessness is misplacing 200,000 bitcoins. Carelessness is not even knowing that 200,000 coins are unaccounted for. Carelessness is hiring quiche and pastry chefs for your cafe instead of hiring security personnel for your exchange.[2]

"Shuttered bitcoin exchange MtGox has found almost 200,000 bitcoins which it believed were lost, according to the company's CEO Mark Karpeles.

The money was sitting in a wallet which the firm thought no longer held bitcoins. However, following the application for civil rehabilitation (a Japanese legal procedure analogous to bankruptcy), "these wallets were rescanned and their balance researched," says Karpeles, and one wallet was found to hold a balance of 199,999.99 bitcoins."[1]

[1] https://www.theguardian.com/technology/2014/mar/21/mtgox-mis...

[2] https://blogs.wsj.com/japanrealtime/2014/05/02/bitcoin-cafe-...

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