Tuesday, September 11, 2012

BitCoin Heist

You knew this was coming: Hackers have stolen some bitcoins.

Bitcoins (which I previously discussed here) are private units of currency completely stored and traded on a computer. They were invented as a response to the weakening of fiat currency during the current financial crisis.

Supposedly they were completely secure and could not be counterfeited.  Well, it didn't take long to discover that what one monkey can create another monkey can steal.

Anyone who believes in the sanctity of digital-only info is naive.

This is why it's so dangerous to digitize property records - as we discussed here.

1 comment:

Roderick Van Klyburne said...

Would that your warnings be heeded.