The Phaserl


Bitcoin Report Volume 80 (Goodbye Gox)

[Ed. Note: The takeaway? No biggie, it’s just a problem “with the exchange” not the Bitcoin code itself. Ok, fine. Now tell that to the thousands of people who have their Bitcoins locked up indefinitely on what was formerly the largest Bitcoin exchange in the world.]

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4 comments to Bitcoin Report Volume 80 (Goodbye Gox)

  • Z

    There were just a couple of posts about maxcoin and dogecoin that spoke about the cult-like following of the participants.

    My phrase for this phenomenon is “geekcoin”. It has just enough techie mystique about it to attract a lot of people in that strata. The problem is that although a lot people thought that they had it figured out and that it was the ultimate anonymous e-currency that did not prove to be true. You can talk all you want about “block-chains” and the other intricacies of its generation algorithm but it still remains an unproven product. One of those posts I referred to researched the activity on the Mt Gox site and found that from 2008-2011 it was listed as a magic site of some sort. Then in 2011 it suddenly became a Bitcoin exchange.

    A lot of speculators jumped in… a few got rich and the rest? Let’s hope that they get some of their money back

  • Eric B

    I’m just waiting for guidance from Bix Wier on what to do with all my Bitcoins. Maybe there is a cartoon with Roota in it ready to be released so a simple mind like mind can be lead to a better understanding.

  • Liberate

    Ed Note: What is is. If you don’t hold it, you don’t own it. Paper wallets and cold storage are the safest way to keep your altcoins. I never used MT. Gox, never trusted them, as for the other exchanges, I would make my trades and then place all my alt coins in paper wallets or cold storage.

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