Blake Canfield

Truth Seeker

Oct 11, 2018

Jameson,

Thank you for doing the AMA. My question is in regard to security. Do you believe that the Bitcoin protocol or a traditional US bank is more secure? Given both the fractional reserve banking and potential for the US dollar to hyper-inflate and then the recent CVE-2018-17144 bug. Where would money be more secure on a ten year time horizon?

JL

Jameson Lopp

Infrastructure Engineer

Oct 11, 2018

It's an apples and oranges type of comparision, but in general open systems are going to be more secure because they have more eyes on them, probing for vulnerabilities. Note that banks get hacked all of the time...

At a very high level, money you keep in the bank for the next ten years is GUARANTEED to be worth less than when you deposited it. Bitcoin offers no guarantees either way, but it has a huge upside potential.

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