30 May '13, 9pm

This week has given me pause: I'm getting out of BTC #bitcoin

So in a post a few weeks ago about Bitcoin when Mt Gox (the largest USD>BTC exchange) had it’s Dwolla (the intermediary for US bank accounts dollars to reach Mt Gox) account siezed by Homeland Security I abated the fears of anyone reading (and my own) with the logic that this was not the end. However, as more actions by United States agencies begin to unfold I have adopted more conservative risk management in regards to Bitcoin. The risk I am specifically trying to avoid is my assets both USD and BTC within the system being locked, frozen, or lost. Any number of these have been at risk of happening in the “Wild West” economy Bitcoin represents. I have always held the notion that anything and everything I have in BTC could be gone in an instant (just as a portion of my holdings vanished in a Solid State hard drive crash… yes, I knew you could back up your wallet I was just ...

Full article: https://bitcointalk.org/index.php?topic=220556

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