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3rd party / web wallets are no longer viable except as means to burn
customers and divulge (or be forced to divulge) their data to
governments and corporations.
Rather than restate what I have already posted on this matter I'll
leave it there. It's
Bitcoin has a major crossroad ahead regarding a suitable platform for the
average non technical main stream user. Until now the majority of the
available solutions were at two extremes, or DIY your security and privacy
*OR* let a 3rd party service do it for you. The DIY solution is obviously
not
This is a response to a wonderfully insightful recent post by Joichi Ito,
the Director of the MIT Media Lab. In it, Dr. Ito, notably a former Board
Member of ICANN, offered his thoughts on Why Bitcoin is and isn't like the
Internet and asked a most pertinent question: Whether there is an ICANN
Ultimately the only way to insure bitcoin holdings is with an insurer
who themselves holds enough bitcoin to cover replacement of insured
funds. In the existing insurance industry, this is handled through a
system of re-insurance, where smaller firms are themselves insured
against catastrophic
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