Ideas in this flowchart

• Security risks and responsibilities differ between Bitcoin and legacy payment systems.
• Bitcoin has suffered repeated thefts and exchange hacks.
• Major losses were associated with Bitcoinica and Mt. Gox.
• These incidents damaged public confidence in Bitcoin technology.
• Traditional card and banking systems also experience extensive fraud and identity theft.
• These systems require private information to be shared across many institutions.
• Consumers are often protected because merchants and banks absorb the initial losses.
• Bitcoin users bear more direct responsibility for security.
• Advocates must explain Bitcoin's risks and the hidden costs of legacy payment systems.