This incident was a bank robbery. Cash has the same problem. It's not like the t... | Hacker News

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mdonahoe on May 26, 2012 | parent | context | favorite | on: Bitcoinica lost customer database, has no up to da...

This incident was a bank robbery. Cash has the same problem.

It's not like the thief subverted a flaw in bitcoin security. He ruined a crappy centralized service built on top of a decentralized system.

namidark on May 26, 2012 | [–]

Except banks are FDIC insured.

jsprinkles on May 26, 2012 | [–]

More like a bank designed with an overly weak vault, because nobody at the bank spent a lot of time designing a very secure vault.

drivebyacct2 on May 26, 2012 | [–]

Which means the currency the bank housed has a "not real" market, obviously. That's the "logical" conclusion, right?

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