850,000 Bitcoin Lost

by Adie 24 replies
This thing about bitcoin is scary. I don't think I will ever use bitcoin.
UPDATED: Mt.Gox Files For Bankruptcy Protection, Says 850,000 Bitcoin Lost | TechCrunch
#main internet marketing discussion forum #850 #bitcoin #lost
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  • Profile picture of the author dtul
    I wouldn't write Bitcoin off completely, but definitely be very wary of it. I for one don't plan on investing any in it either, at least right now. Maybe in the future it will have some regulation, but that basically defeats the entire purpose of why Bitcoin exists in the first place. I really do feel for everyone who lost something in the Mt. Gox collapse. It's a terrible situation.
    • Profile picture of the author heavysm
      I'm watching Bitcoin and the crypto currency market cautiously but closely over the next year. I'll be interesting to see what it evolves/devolves to over time.

      I just hope people don't lose their shirts investing into this stuff
  • Profile picture of the author Shane12
    I would have liked to get in on the ground floor, but now it's just an interesting thing to watch from the sidelines as the price rollercoasters.
  • Profile picture of the author David Braybrooke
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    "The scientific theory I like best is that the rings of Saturn are composed entirely of lost airline luggage." - Mark Russell
  • Profile picture of the author Joshua P
    they are not lost,he ran away with them,if you've been in the btc scene you know what i'm talking about..
  • Profile picture of the author Geeked Labs
    My friend lost TENS of thousands of dollars because of this event. I'm never EVER touching bitcoin. Buyer beware.
    • Profile picture of the author LetsGoViral
      Originally Posted by Geeked Labs View Post

      My friend lost TENS of thousands of dollars because of this event. I'm never EVER touching bitcoin. Buyer beware.
      That makes no sense. If Citibank went bankrupt, would you never be touching USD again?

      Mtgox is a scam site, has nothing to do with Bitcoin protocol.
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      Time of thinking is over.
  • Profile picture of the author pewpewpewmonkeys
    This thing about bitcoin is scary. I don't think I will ever use bitcoin.
    The people who lost money were the ones who kept their bitcoins on mt gox instead of their own personal wallets.

    Let's say I stuff my leather wallet full of $100 bills. Then I pour gasoline on it. Then I light it on fire. Just because I make a stupid move doesn't mean you're no longer going to want to use leather wallets or enjoy $100 bills.
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    Some cause-oriented hackers recently hacked one of my websites. So I researched what they're about and then donated a large sum of money to the entity they hate the most.

    The next time they hack one of my websites I'm going to donate DOUBLE.
    • Profile picture of the author LetsGoViral
      Originally Posted by pewpewpewmonkeys View Post

      The people who lost money were the ones who kept their bitcoins on mt gox instead of their own personal wallets.

      Let's say I stuff my leather wallet full of $100 bills. Then I pour gasoline on it. Then I light it on fire. Just because I make a stupid move doesn't mean you're no longer going to want to use leather wallets or enjoy $100 bills.
      Exactly. Bitcoin protocol is fine.
      Signature
      Time of thinking is over.
    • Profile picture of the author lotsofsnow
      Originally Posted by pewpewpewmonkeys View Post

      The people who lost money were the ones who kept their bitcoins on mt gox instead of their own personal wallets.

      Let's say I stuff my leather wallet full of $100 bills. Then I pour gasoline on it. Then I light it on fire. Just because I make a stupid move doesn't mean you're no longer going to want to use leather wallets or enjoy $100 bills.
      That is an excellent comparison.

      Just because people make stupid moves does not mean that everything is lost.
  • Profile picture of the author ecstacy31
    Actually Mt.gox's problems started long time ago.One of my friend used to trade there,and when I started trading he asked me to stay away from Gox.So I trade with Btc-e.
  • Profile picture of the author brutecky
    All those people hyping up bitcoin .. none of them listened to the voice of reason when people told them about the risks or the fact that this was done before (and crashed before).
  • Profile picture of the author Tim_Carter
    As pointed out, nothing has disappeared. Someone robbed the bank (to put it in fiat vernacular). There is nothing wrong with Bitcoin itself. It was Mt. Gox (Magic: The Gathering Online eXchange). Originally a site for selling magic cards.

    So people left their Bitcoin in Mt. Gox instead of transferring them to their own wallet, resident on their own computer and backed up properly.

    Caution is required when using and investing in digital currency, just like if you were trading Forex or anything else.

    People need to get their facts straight before starting threads like this.
  • Profile picture of the author RockStar87
    Be cautious but I think bitcoin protocol is fine as of the moment.

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