Bitcoin for the masses_ first bitcoin wallet app for windows 8 released _ bitcoin bitcoin news

Bitcoin for the masses_ first bitcoin wallet app for windows 8 released _ bitcoin bitcoin news

Bitcoin is the currency of the internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With bitcoin, you can be your own bank.

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Bitcoin core is the backbone of the bitcoin network. Almost all bitcoin wallets rely on bitcoin core in one way or another. If you have a fairly powerful computer that is almost always online, you can help the network by running bitcoin core. You can also use bitcoin core as a very secure bitcoin wallet.

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Totally different. In theory with your bank accounts you have FDIC insurance up to a certain point. Most credit card companies will refund fraudulent transactions. Someone steals your coins, your SOL.

When you’re using bitcoins, you’re making a choice.Bitcoin news you’re deciding to participate in an amazing new experiment, and not paying all the otherwise-forced insurance premiums associated with the banking and credit card oligopolies. When people take more responsibility of their money with the way bitcoin works now, they assume more risk. This risk is amplified by using closed-source applications. It’s conceivable that later more services will appear that take a premium and provide the same FDIC-ish (or probably better) insurance for bitcoin-related projects that will obviate the concern over closed source applications, but afaik that time has not come yet. Thus, at the moment, I still contend that endorsing these closed source wallets is going to contribute to a lot of people freaking out when their coins are stolen through shady wallet devs or security exploits.Bitcoin news

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It’s cute how you think that public access to the source code automatically makes it more secure.

In the real world, open source projects have maintainers who control everything that gets checked in to the source. The public can collaborate and do whatever they want; the only people who have any control over the source code are the maintainers. If the maintainers accept bad or insecure code, then the project is going to be insecure, no matter how many eyes look at it or how many hands touch it.

Or the project gets forked, adding to the confusion. Which fork is more secure than the other? Which maintainers are more security-focused? Are there bad actors purposefully checking in flawed code? Who audits the code? Do you trust the auditors? Have you audited the source code yourself?Bitcoin news

Bottom line, open source or not, you have no fucking clue. You just trust the maintainers and auditors to do the right thing. People who might very well be doing this in their spare time while holding down 9-to-5 jobs (because unless they’re part of the mozilla or linux foundations, they sure as hell aren’t getting rich maintaining their rinky-dink open source projects.)

I am not saying open source is bad. But lets stop with the automatic assumption that open source code is always more secure than closed source code. It is a retarded and simplistic assumption to make, and it has no basis in reality, only in asinine half-baked theory.

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