Bitcoin is an electronic cash system that operates without a centralized authority. It allows you to send cash to anyone worldwide for a small fee. When such a powerful tool and invention comes along, you can bet people will try to influence, manipulate or control it. Those who see it as a threat will seek to destroy it.
Ownership of Bitcoin
Not Your Keys, Not Your Coins
Video
Joshua Hensley expresses his opinion on the current issue after Luke Dash Jr reports that over 3 million USDs worth of BTCs have been hacked.
The significance is that people in the BTC camp normally say, 'not your keys, not your coins', which means that having keys represents ownership. The issue occurs when Bitcoins are stolen.