Topic: Hackers stole the whole bank, that's the worst situation in BTC - page 2. (Read 2868 times)

They had more than one according to old posts by MacigalTux. But if you brainlessly fill the hot wallet it doesn't matter how many you have.

I'm beginning to lose faith in Mt. Gox ;-)

Who owns the Bitcoin trademark?

It is not just simply a tech problem. They have already caused problems, but these problems lies in one of the processes of development of btc. Now almost the only force to push btc is those banks, but those banks are without any support from real economy, if they disappear, they do disappear. That's why any tech problem of btc will cause horrible influence. Mt.gox has much further impact. And no one or no organize could ever audit what those banks. Companies could do whatever they could with those btc and dollars stored. Mt.gox was just one horrible case emphasizes btc holder's mistrust.
Without banks, btc could never reach a high enough value to be accepted by real economy.
Just one company did wrong, it will extinguish btc's confidence for a long time.

One must be really stupid to hold $350M in 1 (one) cold wallet?
Even if one would get compromised, holding that much in a single place is ridiculous.

Was mtgox really that stupid to not have a cold wallet? And they didnt realize that their wallet was cleared? Thats somewhat unbelieveable to me.

bitcoin in not mtgox.

Mt.gox's situation hurts. It hurts btc community.
Hacker is stilling entire bank, which is far more serious than individuals.
Sadly enough, there are always smarter guys here in the community laughing at those people who stored their money and BTC in the mt.gox or without using a private key.
What banks mean to a whole community? btc's price is just depending on those banks like mt.gox and how btc is important during the reak economy. These are basic properties of btc. But banks mean more than simply trading btc.
What does a bank means to a country, which is a traditional system of currency? it might be the easiest and fastest and safest way that normal citizen(not those smarter guys I mentioned)'s money could contribute the whole system of currency. Once the banks failed, almost the system of currency is in huge danger. We know what Argentina just happened in the last several days. The final solution, is that people there could freely exchange US dollars, another currency to keep some of their assets. But who paid for Argentina? Japan and some emerging market, their real economy.
But BTC, and its banks, like mt.gox, they failed. All of the BTC are gone. There will be not any agency which might compensate people suffered in the system. This is a overwhelming force to destroy all the confidence of victims and potential capital.
It is a logic problem. All the banks, like stamp, btcc etc is not safe. Anyone who buy btc should store in their private wallet. So, those banks, lost their most important property, a two-way entry. They are lowering to trading places.
But, without bank, "Stupid people"(they don't know what is bitcointalk.org, they don't know how to search here, and they just read the total wiki page of BTC), will never enter this system. BTC becomes Commodity not currency. The whole BTC will be just something between miners and traders without the importance of bank.   
I saw no hope that the community would overcome this. If foundation and other banks already knew mt.gox will final be insolvent for quite some time, as those smart guys predict several weeks ago, BTC community becomes a joke. Who contributes to them, are just those people trade and store their money or BTC in the banks. But foundation and other banks don't give a fuck of the huge loss. However, It is understandable, for they cannot insure their safety from stolen either. They are under the same shadow. Such statement is just a joke.
This is always a logic problem, which could not be solved by simple techniques.