Followup to my Bitcoin post


My previous Bitcoin post drew some ire from those saying it was a viable alternative to the broken financial system. From Slashdot:

“A fortnight ago the Bitcoin financial website Bitcoinica was hacked and the hacker stole $87,000 worth of Bitcoins. At the time the owner promised that all users would have their Bitcoins and US dollars returned in full, but one of the site developers has just confirmed that they have no database backups.

So the alternative is to run a deflationary currency off vulnerable servers without database backups. Ah but the existing banking system gambles with our money too, so it's fine!

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