[2017-06-10] As Bitcoin’s Price Rises Security Shouldn’t Be Taken for Granted

[jamie.redman1]

Recently there have been numerous reports of people losing their bitcoins to hackers and malware as bitcoin’s price continues to grow in value. It is safe to assume that organizations and individuals trying to steal people’s bitcoin reserves will persistently increase because the decentralized cryptocurrency becomes more valuable to thieves.

At the time of writing one bitcoin is worth roughly $2900 as it has become a treasured digital asset. While bitcoin’s value has increased the number of people losing money to malware attacks and hackers cracking bitcoin accounts usually follows the price rise in unison. Just recently Cody Brown, founder of the virtual reality community Roomscale.org, lost $8000 worth of bitcoin held on Coinbase.

Read More Here >>> https://news.bitcoin.com/bitcoins-price-rises-security/

[anton.shev]

Do not forget that a month ago bitcoin was not worth 1500 $. The price change up is created artificially for earnings. And the fact that people are losing money on this means poorly calculated fluctuations. This is a kind of exchange where you need to use analytics and then you will not lose. I would not be in a hurry now to buy bitcoms - they are likely to drop to their usual level - about $ 1000 by the end of the summer.

[Rmcdermott927]

There's also the issue of the hundreds of millions worth of Bitcoin in the less secure version 1 Bitcoin addresses that are expected to be vulnerable to attack in the next 10 years. That would be devastating to the Bitcoin economy.