Bitcoin Vendor Sued

Someone hacked a Bitcoin vendor. The vendor had some trouble making payments to account holders. Now some of those account holders have sued the vendor to the tune of about a half-million $US.

There's a tension between the freedom of a virtual currency and its security.

I wonder - how secure are holdings of priority points and rewards and the like? How secure is Facebook-based money? How secure are credit card systems like Square? Dollars and Euros and Yen are protected by law enforcement. Other things aren't. Will that in the long run make the difference between currencies that survive?


Comments on Bitcoin Vendor Sued:

Ryan Singer says:

Bitcoinica was sued. Bitcoinica was one of many Bitcoin vendors. The Bitcoin standard is very secure, but, like cash, you have to be careful where you keep your bitcoins. I suggest https://blockchain.info/wallet

Posted Aug 14, 2012 7:42:24 PM | link

Edmund in Tokyo says:

You should probably fix the title of that post.

Posted Aug 14, 2012 8:06:32 PM | link

AnRkey says:

Bitcoin sued? What are you, a retard? How can you sue a currency? Twit!

Posted Aug 15, 2012 12:35:44 PM | link

Edward Castronova says:

O fiddlesticks.

Posted Aug 15, 2012 1:35:55 PM | link

olivia says:

And more about Bitcoinicahere..

Posted Aug 22, 2012 7:01:39 AM | link

mads says:

that's really fucked up for the owner!

Posted Aug 22, 2012 4:20:51 PM | link