Mt.Gox go bankrupt, everything back to the beginning
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It is time to say goodbye , Mt.Gox bankrupt. Tragedy staged or end of the old era ?
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I am sorry if I sound harsh or crude here. I firmly believe they deserved it and more. What happened with Gox and to it should be a lesson to other exchanges out there. MtGox behaved like an unruly child during the entire ordeal. They were very slow in providing information and were very vague with it too. More importantly through this entire ordeal they behaved like a bank would. One of the reasons I got into cryptocurrency was to avoid the stupidity and absurdity of the banks. The way they have treated their customers and the way they have responded to allegations was a sure sign that something was up and their demise was imminent. I hope that the other exchanges take serious note of this and avoid treading the same path that Gox did. There is no doubt that a lot of people may be turned away or have second thoughts about cryptocurrency because of this and their actions have undermined all the hard-work the communities of various coins have put in. But I know we will rise above this and I know for a fact that we will progress into the future and avoid these stupid mistakes. Experience is a great teacher and more importantly it is one that should be shared with everyone.
I think that BTC-e will now take the mantle and we should do everything we can to support them, undoubtedly there are many other exchanges out there and we should support them too but size does matter and BTC-e has been growing steadily. If any of the community members here are in touch with BTC-e mods, I urge you to encourage them to join our forums, communication is paramount to the success of cryptocurrency. Unlike other institutions, I prefer in having open dialogue with the heads be it directly or indirectly.
Note: What I said here is purely my opinion and not the opinion of this community, some may share my opinion or not and that is entirely up-to them. Please do not let my words reflect upon them.
Regards
Motherlode1
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So this might be great opportunity to get some very cheap BTC.
Also to disembowel Karpeles, he deserve it! -
Its horrible what has happened to crypto currencies in general, but, I think this needed to happen. Now we can start fresh and bounce back from this.
And, yea, lots of cheap BTC :-)
I also feel sorry for all the people who got burnt in this whole ordeal.
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I read somewhere that 74.000 BTC’s disappeared. They f*d up some people real bad, which makes me feel bad too!
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Am I the only one who thinks that there are too many criminals out in crypto currencies? That disaster at MtGox, all the scam websites and pools, the constant DDos attacks on pools, exchanges and forums and trading places like Silk Road. I know, if you’re careful and save all your crypto on encrypted wallets no one can steal your cryptos but It can’t still be that the criminals just get away with that. Sooner or later I will trade or buy with my crypto but I don’t want to buy from people who are probably criminals. I bet 20% of all Bitcoins that are traded are from a criminal source. I don’t want to support thieves and hacker.
I know this is probably against the philosophy of most crypto-currencies but in my opinion there should be a tool which can be used against the criminals. Still I wouldn’t give up the the anonymity. Maybe it is possible to implement a trust rating for a wallet which can everybody see. If you want to buy something from someone who is anonymous you can check with his payment adress how high the trust level is. Is it low or the wallet completely new it is possible to withdraw you coins within a week or so. If you bought something and it hasn’t arrived within a week you can withdraw your coins timely. Of course it is a disadvantage for the seller because he gets his coins only in a week and must in the meantime ship the order to the customer. But he also has access to the trust rating of the customer and furthermore he has the adress of the customer. So the customer isn’t anonymous anyway. Of course this system wouldn’t solve all problem and it certainly has issues but I just wanted to give some food for thougth and maybe you have some more interesting ideas.
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Finally! Can gox please just die in a lonely corner now so the value can start pointing upwards again! :P
I bet 20% of all Bitcoins that are traded are from a criminal source.
…and I bet that same number for FIAT is higher…WAY higher.
My point being, crypto currency is just “yet another medium for trading of value”. It’s not the crypto currency that scam, steal, hack and DDoS, it’s people.
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I hear Litecoin will be on mtGox next week, buy during the dip!
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Am I the only one who thinks that there are too many criminals out in crypto currencies? That disaster at MtGox, all the scam websites and pools, the constant DDos attacks on pools, exchanges and forums and trading places like Silk Road. I know, if you’re careful and save all your crypto on encrypted wallets no one can steal your cryptos but It can’t still be that the criminals just get away with that. Sooner or later I will trade or buy with my crypto but I don’t want to buy from people who are probably criminals. I bet 20% of all Bitcoins that are traded are from a criminal source. I don’t want to support thieves and hacker.
I know this is probably against the philosophy of most crypto-currencies but in my opinion there should be a tool which can be used against the criminals. Still I wouldn’t give up the the anonymity. Maybe it is possible to implement a trust rating for a wallet which can everybody see. If you want to buy something from someone who is anonymous you can check with his payment adress how high the trust level is. Is it low or the wallet completely new it is possible to withdraw you coins within a week or so. If you bought something and it hasn’t arrived within a week you can withdraw your coins timely. Of course it is a disadvantage for the seller because he gets his coins only in a week and must in the meantime ship the order to the customer. But he also has access to the trust rating of the customer and furthermore he has the adress of the customer. So the customer isn’t anonymous anyway. Of course this system wouldn’t solve all problem and it certainly has issues but I just wanted to give some food for thougth and maybe you have some more interesting ideas.
Am I the only one who thinks that there are too many criminals out in banking? That disaster at The Federal Reserve, all the scam government websites, the constant police attacks on citizens, exchanges and forums and trading places like Wall Street. I know, if you’re careful and save all your fiat in a safe no one can steal your fiat but It can’t still be that the criminals just get away with that. Sooner or later I will trade or buy with my fiat but I don’t want to buy from people who are probably criminals. I bet 20% of all US Dollars that are traded are from a criminal source. I don’t want to support thieves and hacker. I know this is probably against the philosophy of most statist but in my opinion there should be a tool which can be used against the criminals.
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At some point you steal enough money that you can get away with pretty much anything. You can buy politicians and change laws to suit your needs, you have access to droves of lawyers who will fight for your every deed, you can buy opinion by controlling the media. Welcome to the new Feudal Economy! Where the majority pays for the minority to do as they please.
