Hackers steal BitCoins all the time, there are obviously security issues otherwise why would they bother?

There's still incentive for a crook to tap you on the shoulder.

Smish wrote:Hackers steal BitCoins all the time, there are obviously security issues otherwise why would they bother?

There's still incentive for a crook to tap you on the shoulder.

The issue is not BitCoin, but the websites people are using to store their BitCoins in. The measures that they (the website) take to secure your information is the issue, as well there are other options to secure the BitCoin offline or keep a copy.

More deception going on around the world with skimming devices on ATM's or crooks walking around with the portable transaction devices that can tap and go your credit cards while the cards are in your pocket.

Anyway, people can make their own decisions, it is just some information that some people may find interesting or useful or just enjoy enriching their knowledge of the world moving forward.

Almost 3000 Bitcoin automatic teller machines will launch across Australia as part of a venture between an ATM operator and a blockchain service provider.

The joint venture between StarGroup and DigitalX will see 2900 existing ATMs across Australia equipped with technology that will allow Bitcoin enthusiasts to buy and sell the digital currency.

StarGroup has 500 ATMs and a further 2400 through its StarLink subsidiary nationally.

The machines will be "two-way" ATMs, meaning users can acquire Bitcoin as well as convert their holdings to AUD cash instantly.

The companies say this will solve a pain point for Bitcoin enthusiasts, who generally need to wait days using existing digital currency exchanges to cash out.

They said the adoption of Bitcoin has now reached a stage where a large-scale rollout of Bitcoin ATMs is commercially viable.


https://www.itnews.com.au/news/three-th ... aign=share

Is it just me or should this post not be on here?
Getting more replies than the fishing posts. Shame

Haha you just added to the replies.

It is in the Ride Home (for completely off topic conversations), it is voluntary to read it and the weather is shite for fishing.

maverick wrote:Haha you and you just added to the replies.

It is in the Ride Home (for completely off topic conversations), it is voluntary to read it and the weather is shite for fishing.

So If I put 1k into a Bitcoin account and go to an ATM to withdraw in one weeks time, how much will I be able to withdraw.

Fish Grylls wrote:So If I put 1k into a Bitcoin account and go to an ATM to withdraw in one weeks time, how much will I be able to withdraw.

Have a look at the markets over the past few hours. The chinese-based coins are all off 50%-ish. Some bargains to be had.

Mike.

maverick wrote:

Smish wrote:Hackers steal BitCoins all the time, there are obviously security issues otherwise why would they bother?

There's still incentive for a crook to tap you on the shoulder.

The issue is not BitCoin, but the websites people are using to store their BitCoins in. The measures that they (the website) take to secure your information is the issue, as well there are other options to secure the BitCoin offline or keep a copy.

More deception going on around the world with skimming devices on ATM's or crooks walking around with the portable transaction devices that can tap and go your credit cards while the cards are in your pocket.

Anyway, people can make their own decisions, it is just some information that some people may find interesting or useful or just enjoy enriching their knowledge of the world moving forward.

Putting this into perspective first, thieves can break into your house; some of us have had credit cards skimmed (personally, three times).

You are right about Bitcoin's security. However, people have great imaginations when it comes to finding ways past security. A problem with Bitcoin is once your Bitcoins disappear, you wear the loss and the privacy of the system leaves no trace.
http://fortune.com/2017/08/22/bitcoin-coinbase-hack/

This is very interesting OT discussion. Cryptocurrency is probably here to stay (until replaced by something better) and most likely will be part of our futures, including those who decide investment now is not worth the risk.

To some degree, we've talked about risks but what are the social problems? What are the implications for governments if cryptocurrency takes financial transaction into a totally private place? How do they ensure they collect taxes; how do they prevent crypto-rich people being paid welfare; does Cash Transaction Reporting Act (and its agency) become a white elephant; etc,? How long is it going to take politicians to learn and understand all the implications? {especially the one mentioned in a link above who asked about melting coin bits!}

Governments will protect their banking systems. China is doing this now. Bitcoin may go up substantially however the drop which will happen one day will be faster then the rise.
One saying here was I'm still waiting for the housing bubble to burst. For those here in the 80's it happened. It will happen again. I'm not a forecaster and if I was any good I wouldn't be doing IT.
Mav who's background is finance will agree a balanced approach is best and needs to suit your appetite for risk. I wouldn't never invest more than a few percent of your total investment fund in something ultra high risk in one asset. Being Bitcoin or something else. In the past I have taken risk with investment and overall it has paid off. But it was balanced. Managed funds are a good idea to do this and you can get Wholesale managed funds where the min amount is quite high but offer much lower rates. There are managed funds to suit everyone and I'm quite lazy so the small rate you pay is worth it.