This was placed in 'other' because it is not directly related to our computers. Here is a quote from an item in my e-mail box.
One of the best features of Bitcoin is its ability to be stored offline on local hardware — so called, “cold storage.” Having a cryptocurrency “wallet” on a hard drive or flash drive means it is protected from being stolen online, but if you lose access to that device, those coins are also lost forever. That’s where the majority of the estimated lost horde of cryptocurrency has gone, with many early miners and investors misplacing the currency before it was ever worth anything.
Is this for real? Are people going to lose billions because of some kind of flaw in what is called 'cryptocurrency ' ? That is not even a real word.
Still, the implication is that criminals might not just steal r money, they might mess up the system so bad that money will be forever lost. Is that true?
Is this anything to worry about? Here is an article that is snot directly related, but the implication is also grime.
Cyber Crime Costs Projected To Reach $2 Trillion by 2019 The above is form Forbes, Jan 17, 2016
Here is a quick look:
Three years ago, the The Wall Street Journal estimated that the cost of cyber crime in the U.S. was approximately $100 billion. The estimate disputed other reports which pegged the numbers by as much as ten times higher.
In 2015, the British insurance company Lloyd’s estimated that cyber attacks cost businesses as much as $400 billion a year, which includes direct damage plus post-attack disruption to the normal course of business. Some vendor and media forecasts over the past year put the cybercrime figure as high as $500 billion and more.
...
Large banks, retailers, and federal agencies make the headlines when they are hacked - but all businesses are at risk. According to Microsoft, 20% of small to mid sized businesses have been cyber crime targets.
Do you care?
Do you own a small business?
Do you use the internet to handle money?