pilker09's comments

Bitcoin is only a Ponzi to those that don't actually understand Ponzis.

Which scammer is paying me for my bitcoins out of someone else's promised profits?

I don't have a good answer for that as I no longer buy bitcoins. My methods from when btc were cheap will no longer work.

> Why can't I just use a credit card or similar and buy bitcoints?

Chargebacks are the reason. If you buy a bitcoin with a credit card and I send you a bitcoin, you can get your money back from the credit card company and keep my bitcoin.

Here's my method, further down the comments:

https://news.ycombinator.com/item?id=6814692

> Right now basically every week we have news of millions of dollars worth of bitcoins being stolen from sites.

Rule 1: If you store your bitcoins with someone else, they'll most likely get stolen. People need to learn how to store their own bitcoins or they'll end up not having any.

Here's a quick how-to:

1. Go to bitaddress.org and save the page to hard drive.

2. Take computer offline and generate keypairs.

3. Send coins to generated address(es) and print out private keys.

4. Etch keys onto metal (I used a Dremel though other methods may be better). Two copies stored in separate places might be wise.

5. Burn paper copy of keys.

6. Wait 10 years, buy Aruba.

Ack. Fixed and thanks!

Paper wallets using offline-created Bitcoin addresses are the safest means of storage. I etched my keys onto metal dogtags and have them stored in a fireproof box.

"Horseless carriages will make men bankrobbers and women immoral!"

-Buggy Whip Manufacturers Association, circa 1890's

> "Our first priority is to keep Americans safe from the threat of terrorism."

Uh, no. The first job of a good, decent government is protect the rights of its citizens. It now seems that the first job of a citizen is protect him/herself from the government.