Sure, that's true, but you don't need the exchange to transfer value if you're using Bitcoin. Granted, you need them to get that value in your local currency and in cash (just like you need another Bank to transfer Paypal into cash).
> No exchange will touch it, and in extreme cases, the blockchain can be forked to undo a transaction.
How often has the fork happened though ... twice? three times? If we're getting into that kind of rareness, we'll lose all relevance. Banks sometimes outright steal from their customers, but it's so rare that I wouldn't put it up as an argument against using a bank.
As for receiving tainted coins: that's a more interesting point. Has anyone ever tried tainting large wallets by transferring known-bad coins to them?
Sure, that's true, but you don't need the exchange to transfer value if you're using Bitcoin. Granted, you need them to get that value in your local currency and in cash (just like you need another Bank to transfer Paypal into cash).
> No exchange will touch it, and in extreme cases, the blockchain can be forked to undo a transaction.
How often has the fork happened though ... twice? three times? If we're getting into that kind of rareness, we'll lose all relevance. Banks sometimes outright steal from their customers, but it's so rare that I wouldn't put it up as an argument against using a bank.
As for receiving tainted coins: that's a more interesting point. Has anyone ever tried tainting large wallets by transferring known-bad coins to them?