But what's the point of using bitcoin if you can't trust any exchange or wallet service?
The point is that you don't need to use them."Be your own bank"
Topic: . - page 2. (Read 3140 times)
If you aren't the sole controller of your private keys, you don't have any bitcoins.
Keep spreading the word!
But what's the point of using bitcoin if you can't trust any exchange or wallet service?Keep spreading the word!
HELLO??? Don't you people realize that people sent GOX loads of money only when the price dropped like a rock, trying to buy cheap coins? It was a calculated risk to triple or quadruple bitcoin holdings.
Only Gox was in deep doodoo, DECEIVING people by not halting assets coming in also. That is criminal, intentional deception to gain assets.
I got a whole chain from BRENDAN at Gox's customer service to prove it.
If you aren't the sole controller of your private keys, you don't have any bitcoins.
Keep spreading the word!
But what's the point of using bitcoin if you can't trust any exchange or wallet service?Keep spreading the word!
If you aren't the sole controller of your private keys, you don't have any bitcoins.
Keep spreading the word!
But what's the point of using bitcoin if you can't trust any exchange or wallet service? Keep spreading the word!
Never deposit or keep a significant portion of your bitcoin or fiat currency on an exchange unless you are OK with losing all of it. At some point, because of theft, seizure, or negligence on the part of the exchange, you may be faced with losing it all, and you will most likely be powerless to do anything about it.
I agreed with your lesson learn on this one. I will never do any crypto currency trading after my lesson with MtGox. Instead stick with fiat currency trading only, because there are many regulation in placed to keep trader safe. Never deposit or keep a significant portion of your bitcoin or fiat currency on an exchange unless you are OK with losing all of it. At some point, because of theft, seizure, or negligence on the part of the exchange, you may be faced with losing it all, and you will most likely be powerless to do anything about it.
I agreed with your lesson learn on this one. I will never do any crypto currency trading after my lesson with MtGox. Instead stick with fiat currency trading only, because there are many regulation in placed to keep trader safe.
The situation would have been much different if the technology and usage of bitcoin had evolved and matured faster than the price of BTC/USD.
If the market cap of bitcoin was a few million dollars instead of billions, this mt gox failure wouldnt be such a big issue.
We would say what the heck let it go bankrupt and nobody would care, not even politicians.
So the lessen to learn: speculators should not invest too much money in a technology that is not mature, they should consider it as a pure gamble.
If the market cap of bitcoin was a few million dollars instead of billions, this mt gox failure wouldnt be such a big issue.
We would say what the heck let it go bankrupt and nobody would care, not even politicians.
So the lessen to learn: speculators should not invest too much money in a technology that is not mature, they should consider it as a pure gamble.
If there more wise people using Bitcoin there would be much less of it for sale on the exchanges and the price would be far higher. Once people wise up this will occur. Or maybe the other way if price goes up due to difficulty jumps then people will not want to keep much Bitcoin on the exchanges if a Bitcoin is worth say $250,000 each.
I lost 50% of my net worth. At least, it is seeming that way. I am absolutely devastated. I am idiot for not pulling out earlier. I am an idiot for not diversifying my assets.
I am 34 and quite honestly, this is a hard pill to swallow at my age when I am trying to raise a family.
At this point, I know my coins are gone. All I want is for Mark K. to feel justice and acknowledge what he has done to countless people.
Hope this gets resolved sooner rather than later.
I am 34 and quite honestly, this is a hard pill to swallow at my age when I am trying to raise a family.
At this point, I know my coins are gone. All I want is for Mark K. to feel justice and acknowledge what he has done to countless people.
Hope this gets resolved sooner rather than later.
The problem with advice is: Wise men don't need it and fools won't heed it.
All Gox customers were fools. 
At times like these in the BTC world I am gratefull for one thing:
I only bought and invested 1 BTC so I could trade altcoins, and already cashed that one back out (with many others).
Would be nice if BTC hits 1000$ again some day, but if it hits 100$ I still made money out of nothing in my free time :]
what do you mean by " if it hits 100 i still made money ? I only bought and invested 1 BTC so I could trade altcoins, and already cashed that one back out (with many others).
Would be nice if BTC hits 1000$ again some day, but if it hits 100$ I still made money out of nothing in my free time :]
have you checked the prices recently ?
At times like these in the BTC world I am gratefull for one thing:
I only bought and invested 1 BTC so I could trade altcoins, and already cashed that one back out (with many others).
Would be nice if BTC hits 1000$ again some day, but if it hits 100$ I still made money out of nothing in my free time :]
I only bought and invested 1 BTC so I could trade altcoins, and already cashed that one back out (with many others).
Would be nice if BTC hits 1000$ again some day, but if it hits 100$ I still made money out of nothing in my free time :]
The problem with advice is: Wise men don't need it and fools won't heed it.
All Gox customers were fools. 
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