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HoneyBadger

(2,297 posts)

19. Yes and no

Reply to Initech (Reply #18)

Wed May 3, 2017, 04:55 AM

May 2017

You need a fairly complicated password, probably the most complicated password that you have ever seen. And once you lose the password, there is absolutely no way to recover it. There are plenty of people that bought Bitcoin when it was cheap, maybe $40 a Bitcoin during the tech boom years, just because the cool kids were doing it. So they have have wallets with a $10k-50k of Bitcoin (present value) and no way to ever access it because they forgot the password.

But if you can somehow steal the password, yes, it is no longer secure.

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Highlight:

Did Spicer tweet a bitcoin address? [View all] QED May 2017 OP

Is Bitcoin a way to do 'dark money' transactions? PearliePoo2 May 2017 #1

It is an untraceable crypto currency HoneyBadger May 2017 #3

So you can evade IRS and Treasury? hmmm...not good! PearliePoo2 May 2017 #4

That is probably the least popular reason HoneyBadger May 2017 #6

I was just reading a Vanity Fair article on Silk Road's founder Ross Ulbricht. Link within: grossproffit May 2017 #9

Such a simple business plan HoneyBadger May 2017 #12

And just like cash, it's very easily stolen. Initech May 2017 #18

Yes and no HoneyBadger May 2017 #19

What could that mean? The Velveteen Ocelot May 2017 #2

It means that Spicey was sending someone a bitcoin address SticksnStones May 2017 #5

Another reason - ransoming one's own computer after a malware attack. politicat May 2017 #14

The scuttlebutt now is it could have been a prank SticksnStones May 2017 #17

Did Spicey have a 'Presser' today? PearliePoo2 May 2017 #7

Nobody asked him. It was the giant elephant in the room. n/t pnwmom May 2017 #10

Or it was his passwoord someone saw the tweet and used that string themselves Flaleftist May 2017 #8

Except he tweeted it out more than once. Why would he accidentally tweet out his password -- twice? pnwmom May 2017 #11

Clumsiness Flaleftist May 2017 #13

The Winklevoss twins have been pushing for an ETF HoneyBadger May 2017 #15

They own 1 percent of the world's bitcoin HoneyBadger May 2017 #16

This is considered fake HoneyBadger May 2017 #20