You could also lose $81,000 in cash by setting it on fire.
Care should be taken with any large currency transaction, digital or otherwise. Though the delicacy of data (from a consumer storage standpoint) is definitely a hit against the concept.
correct me if i'm wrong (i don't know enough about bitcoin), but wouldn't it also be the case that he would've lost his money if he shut down the live CD system before backing up his data?
edit: 1 hr later, upvotes with no correction, so i think "delicacy" does cover it. why would you send $81k to a system that could lose it with a power outage, crash, accidental shutdown, etc?
My point was that 'delicate' isn't nearly strong enough of a word. If you can make diligent backups and still lose everything, the system is beyond 'delicate'.
Another post notes that newer clients have fixed this issue by pre-generating addresses. That's better, but being able to lose all your money because you lose a number just isn't acceptable.
well, i'd expect clients to eventually evolve that allow you to automatically back up your stuff. the currency and concept just isn't that evolved yet.
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You could also lose $81,000 in cash by setting it on fire.
Care should be taken with any large currency transaction, digital or otherwise. Though the delicacy of data (from a consumer storage standpoint) is definitely a hit against the concept.
'Delicacy' doesn't cover it, in this instance. He DID backup the wallet, and it still destroyed his money.
correct me if i'm wrong (i don't know enough about bitcoin), but wouldn't it also be the case that he would've lost his money if he shut down the live CD system before backing up his data?
edit: 1 hr later, upvotes with no correction, so i think "delicacy" does cover it. why would you send $81k to a system that could lose it with a power outage, crash, accidental shutdown, etc?
Yes, that would also lose the data.
My point was that 'delicate' isn't nearly strong enough of a word. If you can make diligent backups and still lose everything, the system is beyond 'delicate'.
Another post notes that newer clients have fixed this issue by pre-generating addresses. That's better, but being able to lose all your money because you lose a number just isn't acceptable.
well, i'd expect clients to eventually evolve that allow you to automatically back up your stuff. the currency and concept just isn't that evolved yet.
Well, he doesn't actually say that it happened to him... just that it could happen.
actually, this is based on something that actually happened to someone
Delicacy is an understatement when the smallest transaction puts the entire wallet at risk every time.
Will my homeowners insurance policy cover damage to my bitcoin wallet?
I couldn't agree more!