Topic: Why the shutdown of Mt. Gox won't kill Bitcoins (Read 1372 times)
It was only matter of time when some exchange service does something like this. I'm happy that Gox is gone and that we have now learn our lesson. Mt.Gox doesn't have long term impact on Bitcoin and I'm sure that price will go up a lot in the next 2 years.
People don trade there anymore thats why
Should have stopped trading 1 year ago. I expect we will see solutions where customers can audit exchanges against the blockchain in real time to force trust. These solutions are already being outlined by the core developers and security experts and will make the system much stronger.
Beyond audits, there's no need that the exchange has to have access to the BTC in the first place. Split keys.
People don trade there anymore thats why
bitcoin and crypto currencies will survive
nothing wrong with the bitcoin protocol
nothing wrong with the bitcoin protocol
the 750,000 number
I've seen that a lot today, where the source of this number, and any proof at all it's even partially real?
edit: oh yeah
they're still worth $500 and gox may as well be gone in the middle of a media shit storm, if they're 500 on the worst day... also many see it as a weak unstable party leaving the community, which makes it stronger and more stable
today is a good day.
today is a good day.
EXACTLY!!!!!!!!! Thank you for having COMMON SENSE!!!!!!!!!!!
It's UP from here!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Bitcoin will grow stronger because of this but this really is the worst travesty in the history of bitcoin. If the 750,000 number is true, that means the owners of 7% of the entire currency produced to date suddenly found out that they no longer owned these coins.
I expect we will see solutions where customers can audit exchanges against the blockchain in real time to force trust. These solutions are already being outlined by the core developers and security experts and will make the system much stronger.
I expect we will see solutions where customers can audit exchanges against the blockchain in real time to force trust. These solutions are already being outlined by the core developers and security experts and will make the system much stronger.
The price on bitstamp is slowly recovering.
Only paves the way for other exchanges to learn what not to do.
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Despite the negative press than bitcoin may receive because of the Gox fiasco, I personally feel the negative impact will be very short lived. A few months from now I think it will all be a distant memory and bitcoin will move forward with a vengeance.
I could see that happening. Time moves fast in Bitcoinland. I'm sure we'll have some new problems in a few months' time to worry about anyway haha.
Despite the negative press than bitcoin may receive because of the Gox fiasco, I personally feel the negative impact will be very short lived. A few months from now I think it will all be a distant memory and bitcoin will move forward with a vengeance.
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I haven't lost trust or faith in Bitcoins. Gox is just one exchange, and a shoddy one at that. It's not the entire Bitcoin universe. The quicker it goes the quicker Bitcoin can move on.
this event is just another copy of bitcoinica/pirate@40 all over again.. in the end people will realise that it does not affect bitcoins blockchain. just users.
they're still worth $500 and gox may as well be gone in the middle of a media shit storm, if they're 500 on the worst day... also many see it as a weak unstable party leaving the community, which makes it stronger and more stable
today is a good day.
today is a good day.
It seems like there is only negative information regarding Mt.Gox and how it will "be the end of bitcoins". Now don't get me wrong, i hate Mt. Gox and what they have done is unacceptable but i think it is also important to get another look at how this company will affect Bitcoin and its future. Here is a quote from a post regarding it:
Source: http://www.amongtech.com/why-the-end-of-mt-gox-wont-be-the-end-of-bitcoins/
How do you think Mt. Gox shutdown has affected crypto-currencies in general? How can we prevent this exchange platform to do more damage to the virtual currency economy? Share what you think!
Quote
An even bigger problem is the fact that we have lost trust in the Bitcoins, while the ones we shouldn’t be trusting are companies like Mt. Gox, lets not forget that Bitcoin’s concept and technology haven’t failed here, instead it was a Bitcoin exchange platforms which also happened to be the biggest one.
The cryptocurrency community should use this opportunity to look back and see how wrong we were doing this and how we should do them from now on. People that trusted in Mt.Gox were trusting essentially a central bank, the whole point of Bitcoins is that there is non.
The cryptocurrency community should use this opportunity to look back and see how wrong we were doing this and how we should do them from now on. People that trusted in Mt.Gox were trusting essentially a central bank, the whole point of Bitcoins is that there is non.
Source: http://www.amongtech.com/why-the-end-of-mt-gox-wont-be-the-end-of-bitcoins/
How do you think Mt. Gox shutdown has affected crypto-currencies in general? How can we prevent this exchange platform to do more damage to the virtual currency economy? Share what you think!
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