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Been hearing it when it was trading at prices less than $ 1. Not sure what to think. What if it gets hacked ? What if the creator has a backdoor ?



The creator doesn't need a backdoor; the early adopters have gigantic stacks of BTC that has never been used. The appropriate concern is not that they have a backdoor but that they flood the market and make it crash.


What fraction of the currently mined coins is in these stacks?


Maybe half. People were mining away in 2009-2010 before there was much press coverage.


The exchange or Bitcoin itself? The code is open source and actively developed. Many people come over to bitcointalk asking about certain sections of the code. Many many eyes are looking at the main client source. Its highly unlikely there is a backdoor that has been missed.


I almost bought $500 worth of BTC back when they were trading for pennies. Now, who knows if they would have survived two hacks, or if I would have had the patience to hold on to them, but I sometimes wish I'd pulled the trigger.




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