Bitcoin works just fine for me. I am still able to, just like I was able to do it in previous months, use it to transfer money internationally. I still have some savings. No one has scammed me yet. Any coins I have invested are coins I can afford to lose.
Things you complain about are simply a consequence of Bitcoin being new, obscure, and unregulated. All of this will get better. Quit whining, and start using coins. It's a great technology.
Sure, I can AFFORD to lose everything I had invested, and everything that I have in other wallets and storage and it would not collapse my personal economy. What I lament is the loss of integrity, and reputation that yet another bitcoin venture going down the path of non-communication and theft of our value that will be the result of this.
I don't need to be encouraged to use coins, I've been negotiating for the past six months to get them adopted as a payment method for an international office products supplier. Guess what their reaction will be later today when I meet with the marketing team? Oh, another untold hundreds of thousands of dollars lost because some simple minded fuck in London decided to wipe out his precious little exchange so that he could fund his lawyer bills with stolen money? Right. And you really want to suggest we accept this "trustworthy" form of payment? That's the door right over there, don't let it hit you in the ass.
Ah, but wait, we can use it to balance out international exchange rates, right? Oh, except 99% of the business is tied up in a single exchange that has already suffered three notorious hacks, and has a troubling history of freezing assets on a whim, and cannot handle the most basic paperwork requirements without constant reminders.
So I'm crying for an Argentina (thanks Eva!) that goes way beyond my few coins. This latest rape of the community by James McCarthy and the rest of the investors that owned his venture and did nothing to keep it honest or functioning, could very well be the death knell for bitcoin. How many more failures, criminals and rip-offs are we going to be willing to overlook? How many more millions of dollars and euros and rupees in value is the world going to sacrifice on the altar of cutting edge technology that can change the way we transfer value, when 90% of it ends up getting lost, stolen, hacked, frozen. diverted, shifted, and hidden in business ventures that can't get the principles to agree on what day of the week it is, much less anything honest, like following through on the service or product they offered.
And they we all hold these self-same criminals up as the paragons of the community. Nefario and Amir were glorious speakers in London, their journey there being paid for with YOUR stolen money. Their glad-handing and welcoming smiles, and hollow words all paid for with somebody else's wealth, stolen and diverted to them, and explained away with a simple shrug and a "too bad, we were hacked and we don't know what we could possibly do."
I am nauseated by the acceptance of this kind of garbage business practice. I welcome pirate being investigated by the SEC, and I look forward to offering testimony and my copious conversation records with McCarthy when he is next to be taken down by the SEC. I truly hope the New Zealand receiver who is sorting out bitcoinica finds criminal intent and suggests the whole intersango group of thugs be charged. I hope the bitcoinica lawsuit results in Amir and Patrick and the rest being broken and destroyed financially, and that they are forced into real homelessness. Until we all stand together to block the actions of these scammy little thieves, we shall all surely fall together as they distort bitcoin into their own personal whorehouse.
