I'm not a tech expert, but BFX has always been the exchange gold standard for me.
So, you fully understood how funds were secured with Bitgo's multi-signature solution and you were comfortable with that?
Could you direct me to a page describing their security practices in detail? Example:
https://www.kraken.com/en-us/security/practicesThat is the point. I don't feel competent to evaluate security practices. The best practice I've seen is the derivatives exchange Bitmex ... but they are only derivatives and don't accept US-based customers. Beyond that, I've reached the point where I don't trust anyone. Which means I'm done putting coins anywhere, and that hurts bitcoin businesses that I had been patronizing.
When you consider opening an account at a local Credit Union, BofA branch, or Citibank, do you need to consider their relative security measures? No. It is all basically the same. What one does consider is the level & type of service one will get.
Well, I don't know how you can blame Bitcoin when many users have had no issues what-so-ever securing private keys. Obviously huge thefts are going to be very visible to all, but what you won't see is the thousands of users, who keep their private keys secure, posting that another day has gone by where their coins remain safe. Bitcoin provides a user with monetary freedom, but this comes with the price of individual responsibility.
Hopefully you haven't misjudged BitFinex and they are able to make users whole again. I have my doubts.
It's good that you don't trust anyone anymore. This is why I started using Bitcoin in the first place. I took "be your own bank" to heart and I've never looked back since. It's unfortunate that such a terrible incident has had to occur to open your eyes to this (I don't know if you were personally affected by this or not). You are not a new user here, certainly you've heard many times that a cold storage/air-gapped wallet is a fool-proof method to be sure your coins are safe. When I first got involved with Bitcoin, a user named Allinvain was hacked, and at that point I learned everything that was required to protect myself. It was immediately clear to me that anything connected to a network was potentially insecure. Somehow, people forget this lesson and continue to make the same mistakes over and over again.
Consider patronizing bitcoin businesses which are not involved in holding users funds for them.
Yes, I would most certainly consider the security measures at any typical bank. In fact, I don't trust banks at all, so I don't use them to store funds (only for transferring amounts I can afford to lose).
