Bitcoin: HACKS, Suicides, and Ponzi Schemes. Is it Really Safe?


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Bitcoin exchanges hit by DDoS attacks
Bitcoin bank Flexcoin shuts down after hack
Silk Road 2.0 ‘Hack’ Blamed On Bitcoin Bug, All Funds Stolen
Bitcoin firm CEO found dead in suspected suicide


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9 comments on “Bitcoin: HACKS, Suicides, and Ponzi Schemes. Is it Really Safe?

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You know that paper currencies are going to fail. Now when you know this, think for a while, if you know another working monetary concept which could replace current model. Then please let me know.
I like your videos. But you should definitely do more research about bitcoin because it is evident that you don't have very clear understanding about it. Bitcoin hasn't been hacked repeatedly. It is just companies, exchanges or services implementing bitcoin. This is very important to note because it is not a problem of bitcoin as a currency. Same as with paper currency – if you store it under your mattress / wallet you don't lose your money if a bank / exchange is robbed. Right?


bernie  made-off  should  have  coped  this  plea.  you  know,  that  he  was  hacked.  why  not?  you "tootsie pops"  think  that  it  could  happen  to  bitcoin.   stocks,  commodities,  and  now  bitcoin.  all  the  same  scam.  only  difference  is  the  amount  of  time  it  takes  to  lose  your  money.  going  in  the  order  above.  20 years,  6  months,  overnight.     walkin  and  talkin,  ´´ paz ´´


Gold is very over-priced relative to normal times.
But it is under-priced relative to current conditions.
So gold is an expensive hedge against financial collapse…
…and a cheap bet if you are a market player…and know what you are doing.


not a fan of electronic tulips.


In a recent Q&A Chomsky was asked about Bitcoin.
He waved the Q away as irrelevant saying it was just a fad that would probably form into a bubble and eventually collapse. I predict he is right.
I think there is possibility in the general concept of reciprocal crypto currencies; but my instinct is that Bitcoin is not it.


BTW GPS: And I do say this with utmost respect… "Bitcoin" has never been hacked. Exchanges with poor implementation have been hacked, and there is a big difference.

Bitcoin is actually a protocol, not software (big difference). Why does this distinction matter? Because TCP/IP is also a protocol (which your computer uses to communicate with the internet), which was invented 20+ years ago and is still in use today because protocol are very difficult to unseat when they are created and used.

They, unlike software, can adapt and evolve to new circumstances. I believe bitcoin will do this. Rather that become obsolete, the bitcoin protocol will evolve to meet our needs and become widely used, first and fore mostly being used by intra-business, then consumer adoption will follow. Once again though, I dont know what will happen. Its very risky DO NOT PUT ALL YOUR MONEY INTO BITCOIN. lol But buy 1 or 2 for good luck, and hold on to them until you dont have to convert them to fiat to spend.. 😉


GPS: I myself did a complete 180° on  bitcoin. The problem for most, is it takes some understanding of computers and research to come to an informed opinion.

People that say things like: what if an "emp attack destroys your bitcoins", or "the bitcoin founder steals everyone's coins" doesn't really know what they're talking about. I still of course think bitcoin is somewhat risky but it's not an all or nothing proposition.

For me the jury is still out however on how trackable it is by the NSA. I think if you know how use a TOR network or are careful (using net cafes) you can still transact anonymously.   To get the real scoop on bitcoins by the bitcoin comunity I suggest everyone go to and look under the bitcoin subreddit, there you can see many bitcoin developers actually posting.  

I think it will be a safety valve in the event of a currency collapse, and you can bring bitcoins with you anywhere in the world without it being confiscated, this is something even gold cant do. And on top of that if you know how to properly secure your bitcoins, it is one of, if not THE hardest asset to steal, period.


'suspected suicide'.. We're seeing a lot of that these days…
'Suspected' means it might not have been voluntary.


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