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dfc
on Aug 6, 2011
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MyBitcoin Incident Report - August 4th 2011
Is trusting a third party with your BTC any different than trusting an online storage company with your data?
stuhood
on Aug 6, 2011
[–]
Yes, it is: assuming you use client side encryption, an online storage company never needs to know your secrets. It's the difference between a trusted and untrusted third party.
dfc
on Aug 7, 2011
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parent
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But you lose their data if someone takes over their server and deletes the data.
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