Comment Uninsured = high risk (Score 2) 167
We are living the libertarian dream with Bitcoin: a bunch of exchanges, none of them insured.
Libertarians feels that government regulation is unnecessary, but what recourse do those depositors have when one of these exchanges just disappears with their money? None.
I won't be using Bitcoin, no matter how lucrative, until a government agency or large bank insures deposits. It's just not worth the risk.
Frankly, I can't see any sovereign ever backing Bitcoin while they have their own currency, so I don't know how Bitcoin ever becomes a reliable, universal currency.