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RE: Hackers will drive cryptocurrency straight into the arms of the Banks

Jesus that is not good publicity for Mac considering they have the reputation for being the most secure computers. Come back Steve Jobs. When he was there he was a free about perfection and would not let anything out until he was personally satisfied. Now he has gone perhaps things have become a bit more relaxed. This is how it is with all empires I guess. An empire is only as good as its head at the time.
Thanks for the update.

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"Mac... reputation for being the most secure computers." That is the myth you were sold and you bought into. In tech circles it was widely known long ago how terrible Mac security was. I still recall 10 years ago, Mac users smugly sneering at Windows users, because "Macs don't have viruses".

Mac's security problems already existed when Steve Jobs was alive. He could not save you then, nor could he now. Security was not his interest, rather slick looking products and a brand name.

The Mac fanboy mentality of the near zealous belief in the infallibility of Apple products is what gets people in trouble with regards to security.

No system will be 100% secure if it is profitable for people to hack it. Windows users suffered early on because of this. There were simply more Windows users, which meant more profit for the hackers. As Mac became more popular, it became a more popular (profitable) target for hacking.

The Russians woke up to how insecure digital information storage was years ago, and went back to typewriters for super top secret information.

Russian guard service reverts to typewriters after NSA leaks
https://www.theguardian.com/world/2013/jul/11/russia-reverts-paper-nsa-leaks

The answers lie in part of what you outlined in your article. Your own actions; being informed and mindful of your information security.

I agree with much of what you say. The whole matter has awoken me to just how insecure the net really is.
I admit I somewhat bought into he belief that Macs were more secure - I don't believe that anymore. The truth is any computer can be hacked if hackers have enough time or will to do it. I have spent much time recently educating myself - as well as working together with my nephew who is a gifted programmer - and it is much easier o ask - what can hackers NOT DO, rather than what they can do? - and go from there.

With regards to my article, I just wish to make it clear that I am was not saying that I want help from the banks or the Govt, I got into Bitcoin because I was against the banks in the first place. I was one of the few who were actively protesting against the banks corruption way back in 1995.
What I am saying is that the new people coming into the crypto space could easily be drawn towards the banks to store their Bitcoin/altcoins. The banks will use the fear of being hacked as tool to draw newbie customers to them
In fact, as I write this, I saw an announcement in my local newspaper that two local bank are to give a talk offering such a service - so I was right, it has already begun.
The paranoid side of me half believes that it is in the interest of the big banks to actually fund hackers to hack peoples accounts in order to read this fear. As I said in my article, one thing the banks have over us storing our own crypto is insurance. Yes the banks are hacked and swindled all the time but they have insurance and can simply print more money when they want. This all adds to inflation of fiat currency of course.
What I am saying is that, I have never seen the banks or the Govt as a threat to Bitcoin but net security certainly is. If people can not feel secure at all with holding or using their own crypto as a store of value or as a currency then it will certainly lead to its downfall.

Without security there can be no solid foundation on which to build. Why do you think civilisations built castles? The more hacks that happen the less secure people will feel. which is why I say that hacking is the biggest threat to Bitcoin/allcoin and why it is in the banks interest to secretly fund such attacks. If we want mass adoption, ordinary non-tech savvy people (like your grandmother) have to feel they can use it and safely, otherwise it will always remain in the hands to the intelligent tech savvy/coder savvy people.

I predict that we will very soon see banks offering secure vaults for people wit Bitcoin and offering insurance in case they are stolen.
I thank you for you response to my article @lepplaw

The fact is, crypto is not yet ready for prime time mass adoption. So the maxim, buyer beware applies.

Who ever provides a consumer friendly approach to crypto will make a great deal of money. Some one will. You can bank on it. ;-)