Ye Big Vern has some Big problems.
I read on another thread that he was involved in the Mintsy deal about a month after the theft so he had good reasons to keep things quiet.
I hope he gets caught and jailed for a long time I'm getting really sick of the crypto business with all these thieves and scammers getting away with murder.
Yeah bro - those of us that are fully into Crypto and read as much about the Crypto world can feel the underlying reality of its weaknesses and strengths. Mt Gox was a wake up call . From Mt Gox we all realized spreading your BTC and Navajocoin was a safer bet across exchanges. Cryptsy & BTER hacks next. Then the Blockchain debate and Mr Hearn leaving Bitcoin for R3. It's a crazy time. I have watched China take control of Bitcoin and the Banks take over the BTC Blockchain technology.
If many Altcoins had a direct Fiat link and did not have to pass through BTC we would not be in this mess today.
Currently ALL Cryptocurrencies need to go via a BTC transaction before you can even buy or sell a single Navajocoin. Navajocoin could do extremely well BUT if BTC which is in the technological past has a stumble the entire chain of crypto Currencies pay the price. This is not a Decentralized system. It's not the way for innovation and evolution of this new Monetary system.
If we had a hypothetical vote. Which currency is better Bitcoin or Navajocoin. Navajocoin would win on every comparison .
Yes Decentralization is coming to Navajocoin to make it the king of kings.
Anyway the solution to All ths is - independence
Each crypto currency works independently and directly with Fiat. The Crypto currency stands on its own merit via its own evolution. , strength and weaknesses. I exchange $600 dollars and buy Navajocoin and then I sell Navajocoin and buy dollars. No BTC involvement required. No waiting on processing, No worries about BTC theft on an exchange corrupting my Navajocoin value . It would be a BTC problem but currently its an entire Crypto Community problem affecting ALL Currencies via the so called king of crypto.
This system is stupid for the future evolution of Crypto in general. The Bitcoin community is holding the entire Crypto Altcoin world and it's true potential In the past.
I think Satoshi Nakamato is just shaking his / her head with all the n decisions affecting Bitcoin today. The Exchanges also need to lift there standards and Pakage's article explains that very well.
Do we need Satoshi Nakamato - hell no . Do we respect Satoshi Nakamato - hell yes. What we do need is a revolution from all the different Altcoin developers to start thinking about independence.