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Which begs the question, how can one determine the veracity of the security claims of website operators? Bitcoins are a convertible currency but are not regulat
by o2sd98 13y ago
Which begs the question, how can one determine the veracity of the security claims of website operators? Bitcoins are a convertible currency but are not regulated, insured or guaranteed by any authority. I guess even modern fiat currencies had their teething problems with theft and counterfeiting, so this is not too surprising.
- steveklabnik 13y agoYou cannot, just like you can't determine the claims of any other random server responding to port 80 somewhere on the 'net.
- TheTaytay 13y agoI wouldn't be surprised (or disappointed) if some enterprising company developed a security certification (a la PCI) for Bitcoin-related providers. You wouldn't _have_ to offer it, but the market might favor those that had subjected themselves to that scrutiny.
- o2sd98 13y agoIt would be great to see a market solution to this. Bitcoin is a bit like the gold rush/wild west at the moment which is fine for those who understand this before diving in, but until these types of trust issues are resolved market participation will be limited, which presumably will eventually effect the liquidity of the market for btc.