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originally posted by: nOraKat
Correct me if I am wrong, but is it the case that say you left it in you desk drawer and somebody happened to take your seed code without you knowing, that they can recover and take all your Bitcoin?
originally posted by: nOraKat
Basically it sounds like you are hiding gold bullion under your bed with these things.. correct me if I'm wrong.
originally posted by: nOraKat
I was looking for a safe storage solution for bitcoin and came across the Trezor hardware wallet.
originally posted by: nOraKat
a reply to: trollz
If you keep the file on a computer, now you are dependent on that computer not crashing and losing its files. And say you had two computers or a dongle, now you are dependent on those things, so say you lost your house in a California blaze/fire and your house burnt to ashes, there goes your life savings.
Also if someone wanted to, they can threaten you for your codes and take all your money.
Another thought is that secure passwords - with symbols which are long are hard to memorize so you end up writing them down somewhere or keeping it somewhere that is less secure anyway.
originally posted by: nOraKat
Also if someone wanted to, they can threaten you for your codes and take all your money.
Here's a story about bitcoin losses in another exchange, apparently not insured:
originally posted by: nOraKat
Does anyone know what happened during the Mt Gox incident when Bitcoin got stolen? Did anyone lose their Bitcoin?
Do exchanges insure your Bitcoin, like a bank?
So all users suffered 36% losses instead of some users suffering 100% losses and others zero losses which is what happened in the hack.
Since the exchange used a service to individually segregate each customer’s funds in unique wallets, only some customers’s funds were drained, while others retained their full balances. The question then became would Bitfinex limit losses to only users whose wallets were compromised, or distribute them equally amongst all users (since the attack was essentially indiscriminate amongst random wallets).
We now have an answer, as the company has posted that they will distribute losses amongst all users to the tune of 36.067%, which is the total loss experienced by Bitfinex.