Hey Steemers, How Not to Handle a Hack: Bitfinex Says it will "Socialize" Losses Amongst All Its Users...

in bitcoin •  8 years ago  (edited)

http://blog.bitfinex.com/uncategorized/update/

This is unmanageable, is there no accountability? 

One of the best comments on Bitfinex's blog post discusses if someone parked in a parking lot and a thief broke into their car and steals their CD player. Should the parking facility management have the right to force you to unlock your car and give up your CD player to the victim?

Luckily I can say I didn't lose any Bitcoins in the hack but this injustice is reminiscent of injustices that take place in the traditional banking/financial industry. This is exactly the type of behavior that Bitcoin was supposed to discourage.

Your thoughts and opinions are appreciated! I'd love to hear from people who were effected by this tragic incident.

Best,

OmnesOmni

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@jeeves, could you show me some related posts please! 谢谢

@jeeves, thanks! Now you can go home!

Ju jeni te mirepritur! In case you don't know Albanian, that means You're Welcome!

thats why I would never use a service, were they are in control of the private keys.

Decentralization is the way to go. At least some wallets like BitGo offer insurance.

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