Topic: I lost 206000 dollars in MTGOX - page 3. (Read 9298 times)

It's not the point for me. It's the point for you. You witnessed its raise from $2 to $1200, and it makes you rich, but you never learnt why it is so successful. Bitcoin is successful because you can trust your money with no one. You don't need to trust MtGox, don't need to trust Bitcoin Foundation, don't need to trust core developers, don't even need to trust Satoshi Nakamoto. Yes, you don't even need to trust Satoshi Nakamoto because the whole thing is open source.

Although you never learnt this before, I hope you learn this TODAY, in a hard way. If you really can't understand this, go back to your local bank, it's way much safer than ANY existing bitcoin exchange.

So you know it is not the point?

Can we get this in big writing up on the front page of bitcoin.org - hell, maybe even work it into the logo somehow?

I am going to suggest that I too had 206000 dollars in MtGox. There's no evidence of this unfortunately but there is much confusion and I hope that when the dust settles that they will conclude that I should be credited by this amount. If they can loose imaginary coins, perhaps they can find them too!!

you going to send me a PM ? any information you post in here will be used by Mark and his lawyers.

The Bitcoin Foundation is monitoring the Bitcoin software and network.

If the Bitcoin software is broken (coin theft from wallets, bogus transactions, double spends), that would be a concern to the Foundation.
If the Bitcoin network is broken (forked, filtered, blocked, compromised etc.), that would be a concern to the Foundation.

They also have a political and lobbying component to promote and protect Bitcoin: if your Bitcoins get stolen by your government, because they raid your place, put a gun on your head to have you release your private keys, they will certainly try to get involved to voice their concerns to that government and help you expose their behaviour to the world.

With the failure of MtGox, it is very likely that they will broaden their scope to try to do their best to try to convince all major exchanges to cooperate with them to get them audited externally and segregate deposits from their operational business. Unfortunately, it requires cooperation from them and the Foundation just doesn't have the authority to arbitrarily regulate a foreign, private entity like MtGox / Tibanne.


It just means that they are major sponsors to the Foundation. Nothing more, i.e. it doesn't work the other way -- it is NOT an endorsement of the Foundation for sponsors.

But I admit that it is a kind of conflict of interest in light of the recent events, and it's already being discussed internally. You will have to acknowledge that the Foundation did get the resignation of Mark Karpeles, MtGox's CEO, from the Foundation Board. IMHO this was really due and as a member of the Foundation myself, I wouldn't have accepted had it been otherwise, and I would eventually have resigned myself voluntarily from my paid, lifetime membership if Karpeles was to stay at the board of the Foundation.


The Foundation is made of people like you and me. You can join anytime, the personal, yearly membership is about $30 worth of BTC if I recall well.

And you totally got me wrong if you still think that I do not trust the developers of Bitcoin, I trust them a lot, unlike EXCHANGES, because Bitcoin core devs are transparent, I can read the sensitive open source code at any time.

Sorry if you find I'm rude but this is not a good place to look for sympathy.

The point is not whether bitcoin makes me rich. This is not a get-rich-quick scheme to me. I heard about it, learnt its mechanism, found it as a brilliant idea, and am now trying to contribute to it.

You are a early adopter too. Did bitcoin makes you rich too? Did you sell bitcoin on 1000 dollars? Did you earn a few hundred early adopter coins? I do not know why could you give these words, you know nothing.

THIS IS MY FAULT. I AM A IDIOT, OK?

Wow this is really big loss, wish you good luck but i don't think that gox woul "surprise" us

Because Bitcoin fundation is self elected group of people that have nothing to do with anything. They work for their own gain and nothing else. How did you even conclude that they are someone that will "warn" you or "protect" you?!

A simple Address search revealed he still has thousands of BTC send me a PM I have PM'ed you as well Ill be happy to get your Coin back I'm sure we can come to an arrangement getting ready to book my tickets to Japan  

FTFY. There's nothing wrong with Bitcoin here.

Based on his previous (mostly Chinese) and current posts, he simply doesn't understand bitcoin, even he started in 2011. Bitcoin is just like a get-rich-quick black box for him, backed by Bitcoin Foundation and "Satoshi of MtGox". He was lucky enough to discover this once-in-several-generations opportunity and earn a few hundred early adopter coins, but he never tried to figure out why Bitcoin makes him rich.

Anyway, if he is lucky enough to have a few coins left in his local wallet, he should now learn how to keep them safe.

You put your savings in bitcoin. Why would you do that? Like it hasn't been repeated here a 1000000 times not to invest what you can't afford to lose. It's a gamble like any other. Still I'm sorry you lost. Hope you will manage to get at least part of it back.

Gox needs investor-necromant card if u like to get your coins back

I hope you do not open e-mail from people in Africa.

I am sorry that some people more informed than you are making a fool of you.

Bitcoin is a very robust and safe technology, and there is nothing broken about it. The problem is that it still requires some basic training before you start to use them. I would say it requires about 1-2 hours of reading, you may start with the Bitcoin Wiki, for example.

Unless you are willing to take that basic training, you are putting yourself at risk when you are dealing with Bitcoin.

That 1-2 hours basic training includes the following teachings, with all due respect (I'll be bold and use boldface)

• Bitcoin has been designed so you can actually OWN them. Owning Bitcoin means that 1) you own the private keys for your addresses, 2) no one else does. In other words, it is OK to use a wallet like Bitcoin-Qt, Multibit, Electrum or even Blockchain.info. It is NOT OK to use third parties like MtGox, Bitstamp, inputs.io, etc. as your wallet. You will get burned.
• By trusting third parties to keep "your" Bitcoin, you are actually giving them your coins in exchange for a promise from them to give them back (IOU). This is VERY dangerous and there is absolutely no reason to take that risk until a very strong financial insurance and external auditing is backing that promise. Even if you are daytrading, it's worth withdrawing all your coins at the end of the day
• The Bitcoin Foundation is absolutely not Bitcoin's regulatory body, they are absolutely not monitoring, auditing or responsible for exchanges and services in any way,
• The Bitcoin developers cannot "force" you to understand what you are doing with your coins before allowing you to download and use their software. They can only urge you to do it. In other words, they cannot protect yourself from your own lack of knowledge

Now it is up to you to put the blame on Bitcoin if you want. But if Bitcoin succeeds and becomes what many here believe it will become (i.e. a huge success), you might end up "double-regretting" it in the future: not only your coins were stolen as an early, misinformed adopter, but you didn't take the chance to learn from it and "get rich again" before the masses wake up and everyone wants some Bitcoin

The Princess and the BTC.

i keep my bitcoins stuffed into a mattress