Yeah, I've since found out about the 'divisible' aspect. Don't understand it yet. In particular, how different people can own fragments of one cryptographic unit, without there being any central coordination point.
As for storing in the cloud, uh, no thanks. Recent cloud upset providing an entirely expected illustration of the 'nothing can possiblie go wrong!' principle. Not to mention the mooted Internet Kill Switch being also a Cloud Switch.
Power failures, major disasters... involving the Cloud is just making Bitcoin even more fragile.
I'm glad you mentioned backups. Because I forgot that. The issue being how many people actually do have adequate backup. I know mine is far too weak, and I wouldn't like to have my financial assets depend on it.
As for storing in the cloud, uh, no thanks. Recent cloud upset providing an entirely expected illustration of the 'nothing can possiblie go wrong!' principle. Not to mention the mooted Internet Kill Switch being also a Cloud Switch. Power failures, major disasters... involving the Cloud is just making Bitcoin even more fragile.
I'm glad you mentioned backups. Because I forgot that. The issue being how many people actually do have adequate backup. I know mine is far too weak, and I wouldn't like to have my financial assets depend on it.