right, because its a bearer good. Financial institutions have been forced to shut down because all of their gold andsilver were stolen as well. Oh teh noes physical currency is insecure waaahhhh lmao ok
What Malachi said, plus it was not Bitcoin that was stolen - at least, not directly.
Buyer B contacts exchange E in order to buy 10 BTC (Bitcoin) for 60 PPUSD (US dollars@PayPal).
B arranges with PP to transfer 60 USD from B’s account to E’s account. Upon seeing that, E transfers 10 BTC to B’s Bitcoin address (irrevertably).
B changes his mind, and arranges with PP to return the 60 USD from E’s account back to B’s account. This is where the theft is occuring - and it is PPUSD being stolen, not BTC.
Not sure what Malachi said. That gold and silver can be stolen, too, so all the bragging that bitcoin is ultra safe and cannot be stolen still stands, even though it can be stolen? Oh sorry, it cannot be stolen. It’s just that once you accept a bitcoin and try to get rid of it, you allow your pocket to be picked of USD, plus lose the bitcoin, too. OK. Can’t get much safer and ultra secure than that.
I wonder if the bitcoin advertisers bother to point this out:
Merchants, accept bitcoin, the ultimate ultra safe money in the history of the universe. Oh, did we mention that once you accept a bitcoin, you can never get rid of it without having your pocket picked of USD as well? Well, that’s nothing to worry about. Never happens. Except almost always, so frequently that many whole exchanges have closed down cause they were robbed blind thanks to their accepting bitcoins. Ho hum. But really, it’s nothing. You’re a businessman. It’s your job to take risks. So what if you were wiped out? Get over yourself, before Malachi mocks you.
Anyway, thanks for the clarification. E got screwed right away because they accepted bitcoin, which is what will happen to all suckers who accept it, sooner or later.
for someone who is quite eager to discuss a subject, you certainly dont put much effort into understanding the subject matter or the statements made by the other participants in the discussion. One might even come to believe that your apparent unwillingness to seek understanding is a contributing factor to your confusion. Who told you that bitcoin “cannot be stolen”?
Please do let us know when you feel like making sense. Right now youre just flaunting your passionate refusal to understand.
Why didn’t the exchanges just put a waiting period before they deliver the BTC? This sounds like common scams where someone buys something with a check, the seller cashes it and gives the item, but later the bank calls that the check wasn’t valid and demands the money back.
Why didn’t the exchanges just put a waiting period before they deliver the BTC?
I do not know for sure (I am in no way affiliated), but I can guess at least two reasons: the exchanges were created by amateurs and they were eager to establish reputation/market share.
Buying BTC sounds quite risky as it is, and if you add a waiting period on top of it you won’t get many buyers.
AFAIK, the surviving exchanges do not deal with PayPal or other payment methods that can be reverted unilaterally. Or if they do, they use a reputation/trust system, plus they limit amounts traded on such transactions, plus they add a premium for risk. Just an example of one reputation system, used by multiple traders: http://bitcoin-otc.com/viewratings.php
Gee, it’s too bad you can only buy bitcoin via paypal and credit cards.
Guess that’s it for BTC then 
Was it a parody of Dave? 
BTW, you can buy it using anything. Including services.
Users of Bitcoin cannot be forced to be safe. Bitcoin merely allows you to choose the security level yourself out of a wide range of options, some of which are extremely secure against theft (e.g. brainwallets).
Also, you can now use Bitcoin to donate to LewRockwell.com: https://www.lewrockwell.com/donate/
And also I now have a blog: http://www.economicsofbitcoin.com/