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[ARS]“Bank” that claimed to solve Bitcoin’s security problem robbed, shuts down - Page 6

post #51 of 52
Quote:
Originally Posted by Zaid View Post

at first i though you were joking, but you can actually print BTC.... so at this point BTC is just another currency, with very loose regulation (which implies very easily stolen/manipulated) and the bankers are the miners this time around.

Printing a paper wallet is not so much printing BTC as it is printing a key to access BTC on the blockchain. But really the same goes for any wallet. The upside of this is that you can print multiple copies and store them in different places. The thing you have to remember is that once you spend one, the rest of the copies become just pieces of paper.
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post #52 of 52
Quote:
Originally Posted by dealio View Post

that has nothing to do with the safety of the bitcoin protocol

as to your "problem" ... escrow is simple cheap solution. ever heard of bitpay?

assuming that someone would be willing to use an escrow, sure it helps but im willing to bet most people arent interested in waiting until you confirm you are satisfied with the purchase to get their money. and bitpay is for businesses and right from their front page one of the selling points is "no chargebacks" aka they can do whatever they want once you send the money and you cant do anything about it.
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Overclock.net › Forums › Industry News › Technology and Science News › [ARS]“Bank” that claimed to solve Bitcoin’s security problem robbed, shuts down